The global Limestone Market size is anticipated to reach USD 126.75 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.3% from 2023 to 2030. Rising infrastructural developments in the developing economies of the world are expected to fuel market growth across the forecast period.
Limestone
is a sedimentary rock and is rich in calcium carbonate. It has varying amounts
of silica, clay, silt, and sand. The rock is known to be used for ample
applications across various end-use industries, where building and construction
are its major end-user owing to the easy availability of the material and the
strength it provides. It finds application as a building material, in cement production,
and as aggregates for road base.
Its
abundance in nature makes it a preferable option in the construction sector
where it is used as blocks, stone cladding on walls, floor paving, tiles, and
retaining walls. Characteristics of the mineral include weather-resistant, high
strength, the durability of the structure, high structural integrity,
versatility, heat conductor, and low cost.
The
mineral is gaining preference in countries with the presence of historic
structures in terms of restoration. For example, in November 2019, the Public
Works Department in Chennai, Tamil Nadu, India, introduced a stone roller yard
for grinding sand and limestone for plastering, in an attempt to revive a
traditional method of restoring heritage structures.
Accelerating
demand for limestone witnessed a decline in 2020 on account of the outbreak of
the covid-19 pandemic across the world. The pandemic compelled governments
worldwide to impose lockdown and halt all sorts of activities, which
drastically impacted the demand for limestone. The countries are striving to
slowly regain their stability by offering ease in restrictions.
North
America is a hard hit region by pandemic as a large number of cases have been
reported in the countries, especially the U.S. However, governments in the
region have made an attempt to permit operations, such as construction and
manufacturing, to operate at minimal capacity. The resumption in construction
activities is anticipated to balance the decline in limestone consumption owing
to the spread of coronavirus. For example, in July 2020, a Euro 183 million
(USD 209.4 million) contract was granted by the Canadian Province of Alberta’s
Ministry of Transportation to the consortium of Vinci and Graham for building
the final section of the West Calgary Ring Road Project. Such initiatives are anticipated
to prove fruitful for market growth.
The
global market is characterized by the presence of established players, which
makes competitive rivalry extremely high. Many players are integrated across
the value chain in order to gain a competitive edge by benefitting form an
integrated supply chain. For instance, LafargeHolcin owns limestone quarries in
different parts of the world and utilizes the quarried stone in cement,
concrete, and aggregates production. In addition, the company is engaged in providing
construction solutions. In May 2020, the company resumed its operations at a
limestone mine in Meghalaya's East Khasi Hills, India in order to supply the
raw material to its cement plant in Bangladesh.
List of Key Players of Limestone Market
- CARMEUSE
- CEMEX S.A.B. de C.V
- GCCP Resources Limited
- Imerys
- LafargeHolcim
- Lhoist
- Mineral Technologies Inc.
- Mississippi Lime Company
- National Lime & Stone Company
Related Press
Release@ Limestone Market Report
Limestone Market Report Highlights
- Asia Pacific
is expected to register the fastest CAGR, in terms of revenue, over the
forecast period as the region is known for its large production capacity
for steel and cement
- China was
the largest consumer of limestone in the Asia Pacific in 2022. The Chinese
industry is mainly driven by massive demand for cement on account of
moderate to high growth in building & construction sector and rising
investments in infrastructure
- The chemical
end-use segment anticipated registering the highest CAGR of 8.1%, in terms
of revenue, during the forecast period. The industry utilizes limestone in
a number of ways, including the production of lime, sodium bicarbonate,
soda ash, caustic soda, and ammonia
- The iron and
steel end-use segment accounted for a volume share of more than 5.0% in
2022. The correction in global steel demand post-pandemic and thus rising
crude steel production around the world has benefitted the demand for
limestone products.
- The
limestone industry has witnessed few mergers & acquisitions in the recent
past. The cement-producing companies are focusing on acquisitions of
limestone reserves to integrate their operations and to ensure a
consistent supply of limestone in the production of cement.
Limestone Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 77.09 billion |
|
Revenue forecast in 2030 |
USD 126.75 billion |
|
Growth rate |
CAGR of 7.3% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Request For A Free Consultation @ https://www.grandviewresearch.com/request-free-consultation/6901/rfc
Limestone Market Segmentation
Grand
View Research has segmented the global limestone market on the basis of end-use
and region:
Limestone End-Use Outlook (Volume, Kil0tons; Revenue, USD
Million; 2018 - 2030)
- Construction
- Iron and
Steel
- Agriculture
- Chemical
- Others
Limestone Regional Outlook (Volume, Kil0tons; Revenue,
USD Million; 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Bangladesh
- Indonesia
- Central
& South America
- Brazil
- Middle East
& Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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