Limestone Market to Expand at a CAGR of 6.1%by 2027

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According to a new report by Reports and Data, it is projected that the global limestone market will achieve a value of USD 9.98 billion by 2027. The increasing demand from the construction sector is identified as one of the main drivers for this growth

According to a new report by Reports and Data, it is projected that the global limestone market will achieve a value of USD 9.98 billion by 2027. The increasing demand from the construction sector is identified as one of the main drivers for this growth. Calcium carbonate, derived from limestone, is extensively used in construction as a building material, lime aggregate for roads, ingredient for cement, and in the preparation of builder's lime through combustion in a furnace.

Presently, over 2 million metric tons of lime are consumed annually for road construction, dam building, and soil enhancement at construction sites. Lime facilitates rapid soil improvement during construction and also contributes to long-term soil enhancements. However, market growth may be impeded by health risks associated with calcium carbonate. The paper industry exhibits a strong preference for limestone due to the growing demand for brighter and larger paper. The Asia-Pacific region is expected to witness market stimulation driven by increased demand for paper packaging and tissue products.

Get a sample copy of the limestone market report: https://www.reportsanddata.com/download-free-sample/3142

COVID-19 Impact:

The COVID-19 pandemic severely impacted the global limestone market in 2020, primarily due to industrial production halts in segments that had significant market share demand in 2019. Nonetheless, the trends discussed in the global market study are expected to hold true after the pandemic.

The pulp and paper industry, a major market segment for limestone, experienced supply chain disruptions and production shutdowns, resulting in a downgraded outlook. Construction activity suspensions could have lasting effects. While the industry anticipates a near-normal state before the end of 2020, the negative demand shock caused by the crisis is expected to persist.

Additional notable findings from the report include:

  • The growth of the market is propelled by increased construction activity in emerging economies and infrastructure development initiatives. The wide-ranging applications of limestone in various industries, along with its advantages such as durability, high strength, corrosion resistance, and easy availability, contribute to its market penetration. However, the health risks associated with calcium carbonate can impede market growth.
  • The industrial application of lime in the production of fast-moving consumer goods (FMCG) like toothpaste, cosmetics, sugar, as well as in products like glass, floor tiles, paper, and pharmaceuticals, has been a significant market driver.
  • Environmental regulations aimed at reducing greenhouse gas emissions and heightened awareness of global warming are expected to have a critical impact on the market in the coming years. The cement industry, for instance, emits a significant amount of carbon dioxide during the clinker manufacturing process. The lime, iron, and steel manufacturing sectors are also significant sources of carbon dioxide emissions.
  • The North America region holds a substantial share of the limestone market, driven by increased construction activities and infrastructure reconstruction, including highways, bridges, and buildings in the United States.

Key participants in the market include Tarmac, Lhoist, Schaefer Kalk GmbH Co. KG., CARMEUSE, Fels-Werke GmbH., Elliot Stone Company, Inc., Graymont Limited, Atlantic Minerals Limited, LafargeHolcim, and Sumitomo Osaka Cement Co., Ltd, among others.

For the purpose of this report, Reports and Data segmented the global limestone market based on Type, Application, End-Use Industry, and Region:

Type Outlook (Revenue, USD Billion; 2017-2027):

  • High-Calcium Limestone
  • Magnesian Limestone

Application Outlook (Revenue, USD Billion; 2017-2027):

  • Industry Lime
  • Chemical Lime
  • Refractory Lime
  • Construction-based Lime

End-Use Industry Outlook (Revenue, USD Billion; 2017-2027):

  • Paper and Pulp
  • Water Treatment
  • Agriculture
  • Plastics

Limestone Market: Drive factors

Factors Driving the Limestone Market:

  1. Growing Demand from the Construction Sector: The construction industry is a major driver of the global limestone market. Limestone, particularly calcium carbonate derived from it, is extensively used as a building material, lime aggregate for road construction, ingredient for cement, and in the preparation of builder's lime. The increasing construction activities worldwide contribute to the rising demand for limestone.
  2. Diverse Applications and Advantages of Limestone: Limestone finds diverse applications across various industries due to its advantageous properties. It offers durability, high strength, corrosion resistance, and easy availability, making it attractive for use in different sectors. The versatility of limestone and its ability to meet the requirements of multiple industries contribute to its market penetration.
  3. Infrastructure Development Initiatives: Increased construction activity in emerging economies and infrastructure development initiatives contribute to the growth of the limestone market. Investments in infrastructure projects such as roads, bridges, buildings, and other construction activities drive the demand for limestone as a vital construction material.
  4. Regional Market Demand: The limestone market experiences regional variations in demand. For example, North America is valued for a substantial share of the market due to increased construction activities and infrastructure reconstruction, including highways, bridges, and buildings in the United States.

Overall, the growing demand from the construction sector, diverse applications and advantages of limestone, preference in the paper industry, industrial applications in various sectors, environmental regulations, infrastructure development initiatives, and regional market demand are the key driving factors for the limestone market.

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