Lime Stone Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1930
Lime Stone Market size will witness a noticeable growth in forecast period due to growth of construction industry has surged lime stone market. It is used in manufacturing glass and is one of the important component in concrete. It is widely consumed in building blocks to give strength and durability to the structure. Usage of the product in cement manufacturing and other daily use goods is boosting the industry.
Cement industry will grow at a rate of over 9% up to 2024. Increasing urbanization, infrastructure and steel manufacturing will rise product demand. It is defined as a rock with high level of calcium carbonate that is broadly used in various construction application. It is even used to build road base, structural fill, drainage and erosion control. Growing infrastructure, use of goods in airport runways, malls, and parking lots has subsequently increased industry size.
The product is crucial in construction sites, it absorbs moisture from soil, reduces soil plasticity, increases soil strength for the vehicle used in construction and gives long term strength to soil. Government is investing highly on infrastructure worldwide to enhance economy and industrial growth. Global construction is expecting growth of over 3% in the forecast time period, this will drive lime stone market.
The product is obtained from natural resources that include rocks and sediment’s. Supply chain of the goods is initiated from excavation of big rocks and mines. They are transported to various manufacturing companies for use in various applications including construction, steel manufacturing and mining.
Lime stone market is witnessing challenges that includes adverse effect of the product, if it is left untreated, it can wear down equipment parts. Major restrain of lime stone market is the good’s excavation activity as it is obtained from natural resources. Noise and dust caused by its manufacturing can damage the surrounding and environment. The blast can change sinkholes or drainage and water quality of the underground aquifers.
Lime stone market is segmented into high-calcium and magnesium rock. High calcium has higher share in comparison of magnesium. It is used in diversified applications including construction, water treatment, chemical processes, glass manufacturing, mining, and steel manufacturing.
North America is expecting sustainable growth in the forecast time frame, the U.S. steel industry is major contributor in overall economic development and is one of the largest producer of iron steel industry globally. Growing steel industry will boost lime stone market. The region is hosting major steel producers of the world including U.S steels. Company was 15th largest steel producer in 2015.
Asia Pacific will witness high growth in lime stone market. India will contribute in growth of the product. With new stable government, India will have future plans for manufacturing and infrastructure sector that would boost steel industry. South Africa is well-endowed with the product. The resources available in the region is highly suitable for cement manufacturing. It is a major producer of minerals globally; this trait will propel lime stone market at a faster pace.
Europe is extensively using the rock in various application including purification waste water, removing acidic gas from flue gases and enhancing soil fertility. The region is majorly using the stone for enhancing output and removing impurities from steel. The industries that are escalating the lime stone market in the region are chemical, agricultural, civil, construction and environment protection.
Key players of lime stone market includes Tarmac, Atlantic Minerals Ltd, Buechel Corporation, Graymont Ltd, Lhoist Group, Nittetsu Mining Co, Mitsubishi Material corporation, Grupo Calidra, LafargeHolcim Ltd and UBE Material industries. Lafarge SA merged with LafargeHolcim to expand its manufacturing and extend its export capacities. AIM acquires Glencoe Resources and Kewstoke, that provides the company sole control over the deposits of the acquired companies.
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