Lime Stone Market Outlook - 2027
Lime stone is considered to be an important component, which offers a range of applications due to the properties it possess. It is available in large quantity in nature and is termed as an important and very effective substance for the construction industry. Lime stone is also known as carbonate sedimentary rock and is formed by molluscs, foraminifera, and coral. The major component of lime stone is calcium carbonate, which has various crystal forms such as aragonite and minerals calcite.
COVID-19 scenario analysis:
- The demand for lime stone is expected to decrease in 2020 due to low demand from different industries, such as construction and agriculture, owing to the lockdown imposed by governments of many countries.
- Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
- Demand for new construction materials witnessed a massive negative shift since the coronavirus outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
- Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted across the globe.
- Construction material manufacturing companies located in China are the major sufferers of the outbreak, owing to lockdown and unavailability of logistics in the region.
- The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which led to the discontinuation of production of construction materials.
- Decreased consumer demand and consumption has led to reduction and slow down of sales of construction materials across the globe over the course of the current economic year.
- Therefore, the lime stone market is expected to be negatively affected in 2020.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Lime stones contain different types of substances such as oxygen, carbon, and calcium. There are different minerals, such as chalk, dolomite, and marble, which have same appearance of properties as lime stone but the chemical composition of these minerals is different compared to lime stone.
The applications of lime stone are not limited to the construction industry. The products produced by using limestone are widely used in various industries. They are used in treatment of wastewater, drinking water preparation, and for separation of acid gases from flue gases. The stability of soil can be enhanced by using lime stone. For neutralization process in lakes and soils, lime stones offer the application as an alkali. It is also used for the treatment of mining and industrial wastewater. This treatment of wastewater includes the clarification of water by removing phosphorus and nitrogen and the adjustment of pH level of acidic waste. In the construction industry, lime stone is of great importance as it offers application in earthen dams, building foundation, soil stabilization, and airfields.
Furthermore, large amount of lime stone is used in the glass industry during manufacturing processes. Calcium carbonate (CaCO3) is an important element, which improves the mechanical and physical properties of glass. Melting temperature of the sand can also be reduced with the help of limestone by which less energy could be consumed. Soda lime glass is one of the most widely used types of glass in the industry. It is not very expensive and is used in different applications such as window panes, glass containers, and in the food & beverages industry. The quality of lime stone is assessed before using it in the construction projects such as buildings and roads. For construction of roads, lime stone is considered to be the base material.
In addition, lime stone is widely used in the construction industry. As various construction activities are taking place across the globe, the requirement of lime stone is also high as it constitutes an important part of the construction industry. Therefore, this could be the key driving factor for the growth of the lime stone market. The demand for lime stone is expected to rise during the forecast period due to its wide range of applications in various industries.
Key restraining factor for the growth of the lime stone market
Increase in number of mafias in some countries, such as Brazil and Jamaica, led to the creation of illegal extraction of lime stone. In those countries, regulatory norms have not been imposed to stop illegal extraction. Therefore, this could hamper the growth of the lime stone market.
Key benefits of the report:
- This study presents the analytical depiction of the lime stone market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the lime stone market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed lime stone market analysis based on competitive intensity and how the competition will take shape in coming years.
Lime Stone Market Report Highlights
By End User
Key Market Players
Lafarge Tarmac Limited, Nittetsu Mining Co. Ltd., Adelaide Brighton Ltd., Buechel Stone Corp., North American Limestone Corporation, Sumitomo Osaka Cement Co. Ltd., Taiheiyo Cement Group, Mississippi Lime Company, Atlantic Minerals Limited, Mitsubishi Materials Corporation, Schaefer Kalk GmbH & Co KG, Lhoist Group