Lime Market - Global Industry Analysis, Size, Share, Growth | 2024
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Market Research (TMR) observes that the competition in the global
lime market is quite fragmented due to the strong presence of several
manufacturers. Some of the leading players in the global market are
Carmeuse, Graymont, Lhoist , and Mississippi Lime. These companies
will focus on mergers and acquisitions to expand their businesses in
the developing regions as the demand in emerging economies continues
to be on the rise. However, players face a major threat of forward
integration by raw material suppliers across the value chain.
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Asia
Pacific to Account for Majority Share in Global Lime Market by 2024
According
to the research report, the global lime market was valued at US$44.84
bn in 2015 and is expected to be worth US$76.48 bn by the end of
2024. During the forecast period of 2016 and 2024, the global market
is expected to surge at a CAGR of 6.2%. Amongst the end users, the
metallurgical segment is likely to grow at a fast pace over the
forecast period. Analysts expect that this end-user segment will soar
at a CAGR of 5.3% between 2016 and 2024. From a geographic point of
view, Asia Pacific is expected to dominate the global market in the
coming years. By the end of 2024, the Asia Pacific lime market is
expected to account for 74.0% share in the overall market.
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Increasing
Construction Activities Bolster Growth of Global Lime Market
The
global consumption of lime has grown over the years and is expected
to rise at steady pace due to increasing urbanization in both
developed and developing regions. Rapid shift of population from
rural areas to city areas has created a massive demand for housing
and cleaner water sources. Both of these factors have had a positive
influence on the progress of the global lime market. Lime is
essentially for construction purposes for the production of
non-ferrous metals, iron, and steel as well as for waste water
treatments. Analysts state that the consumption of lime for
construction uses is slated to account for more than 20% by the end
of 2024. The demand for slaked lime, a type of lime, is expected to
witness spike in demand in small-scale water treatment plants as it
offers artificial alkalinity.
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Lime
is extensively used as chemical feedstock in engineering and building
materials for achieving the right pH levels of soils in addition to
other uses. Thus, the increasing production of chemicals such as
calcium carbide, sodium alkali, citric acid, cyanimide,
petrochemicals, and magnesia is expected to up the consumption of
lime in the near future.
Global
Lime Market Report is available at US$ 5795 -
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