Limestone Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Limestone Market Production and is segmented by Application (Industry Lime, Chemical Lime, Construction Lime, and Refractory Lime), End-user Industry (Paper and Pulp, Water Treatment, Agriculture, Plastics, Building and Construction, Steel Manufacturing, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers the market size and forecasts in terms of volume (kilotons) for all the above segments.

Limestone Market Size

Single User License
Team License
Corporate License
Book before:
Limestone Market Summary
share button
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Limestone Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Limestone Market Analysis

The limestone market is expected to reach over 790,000 kilotons by the end of this year and is projected to register a CAGR of over 3% during the forecast period.

The market was negatively impacted by the COVID-19 outbreak due to nationwide lockdowns in various parts of the world. The lockdown resulted in disruption in manufacturing activities and supply chains. However, the sector has been recovering since restrictions were lifted owing to the rising demand from various end-use industries, such as paper and pulp, water treatment, agriculture, construction, and others.

  • Over the short term, increasing demand from the construction industry and growing global steel production are some factors driving the market demand.
  • On the flip side, the health risks associated with limestone consumption and the high carbon dioxide emission from agricultural liming may hinder the market's growth.
  • The upcoming global wastewater treatment projects are likely to create lucrative growth opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Limestone Market Trends

This section covers the major market trends shaping the Limestone Market according to our research experts:

Increasing Usage in the Steel Manufacturing and Other Industries

  • Limestone is used for the formation of slag in iron and steel manufacturing. Limestone, with low silica and alumina, is preferred for steel production, as these elements will need additional flux to neutralize them. Additional heat is required to keep the additional slag in a fluid state.
  • The two key steel production routes, the integrated steelmaking route and the electric arc furnace route, require around 270 kg and 88 kg limestone, respectively, for manufacturing 1000 kg of crude steel.
  • Steel is the most important alloy, finding diversified applications in numerous industries, such as building and construction, automotive, electronics, aerospace, and defense.
  • According to the World Steel Association, global steel production reached about 1,951 million tons in 2021, registering an increase of 3.8% compared to 1,879 million tons in 2020. This will likely increase the demand for limestone in the steel manufacturing industry.
  • China is the largest producer of crude steel globally. However, according to the World Steel Association, in 2021, the country's annual production capacity of crude steel stood at 1,032.8 million tons, declining by 3% compared to 1064.7 million tons produced in 2020. This decline in steel production was due to recent policy changes in China to reduce steel output for tackling problems related to pollution levels.
  • According to the American Iron and Steel Institute (AISI), the United States steel mills shipped 7,871.639 thousand metric tons of steel in December 2021, an 11.7% increase from the 7,049.785 thousand metric tons shipped in December 2020. Moreover, for the year 2021, the shipments' quantity stood at 94,719.681 thousand metric tons, registering a 16.9% Y-o-Y growth.
  • Apart from manufacturing steel, limestone is also used in fossil-fuel power plants to perform flue-gas desulfurization, which removes sulfur dioxide from flue gas emissions.
  • According to the United States Energy Information Administration, in 2021, around 4,108 billion kilowatt-hours (kWh) (or 4.11 trillion kWh) of electricity were generated at utility-scale electricity generation facilities in the United States. About 61% of this electricity generation was from fossil fuels-coal (21.9%), natural gas, petroleum, and other gases. About 19% was from nuclear energy, and about 20% was from renewable energy sources.
Crude Steel Production, in Million Tons, Gloabl, 2017-2021

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy in terms of GDP. China and India are among the fastest emerging economies in the world. China dominates the limestone market in terms of consumption and production due to the local availability of raw materials and its huge chemical industry.
  • The iron and steel industry consumes the largest amount of limestone globally and in China. China is a major crude steel producer in the world. It accounts for more than 50% of the global share. Europe, India, and Japan follow China.
  • China's construction sector is the largest industry in the world, employing 746,520,000 people in 2021. According to the National Bureau of Statistics, China's construction sector output, assessed as CNY 29.3 trillion, upscaled dynamically in 2021, contributing 25.7% to the country's GDP compared to the 11.0% GDP share in 2020, thereby boosting the demand for the market studied.
  • China produced 12.46 million metric tons of processed paper and cardboard in March 2022, compared to 11.97 million metric tons in March 2021, registering a growth of 4%.
  • Due to the increase in the urban population throughout China, 70% of the nation's population is expected to reside in cities by 2030. As the urban population increases, they also face an influx of wastewater and sludge. Currently, 80% of sludge in China is improperly dumped, an increasingly controversial environmental issue that has urban centers scrambling to decrease pollution by improving their wastewater treatment plants (WWTPs).
  • According to the Indian Paper Manufacturers Association (IPMA), exports of paper and paperboard from India jumped to around 80% in 2021-22, touching a record value of INR 13,963 crore. Also, as per the report of the Pulp and Paper Research Institute (CPPRI), there are about 861 paper mills in India, out of which 526 are operational, with a total installed capacity of 27.15 million tons in 2019-20.
  • India is the second-largest producer of steel globally, with 118.1 million ton of crude steel in 2021, registering an increase of 17.8% compared to 100.3 million ton produced in 2020. The favorable factors account for the easy availability of low-cost manpower and abundant iron ore reserves.
  • Additionally, India is among the world's 15 leading exporters of agricultural products. Agricultural exports from India reached USD 38.54 billion in FY19 and USD 35.09 billion in FY20. India's agricultural policy aims to increase the country's agricultural exports to USD 60 billion by 2022.
  • Japan is a major area in the field of skyscrapers and high-rise buildings. The country hosts various high-rise buildings (nearly 290), with Tokyo being a major hub for such buildings. The planning and construction of such buildings are witnessing decent growth in Japan in the short term, in turn, supporting the growth of the market studied in the near future.
Limestone Market - Growth Rate by Region, 2022-2027

Limestone Industry Overview

The limestone market is partially consolidated in nature. Some of the major players in the market include Imerys, Carmeuse, Graymont Limited, Mineral Technologies Inc., and Omya AG, among others (not in any particular order) .

Limestone Market Leaders

  1. Minerals Technologies Inc.

  2. Imerys

  3. CARMEUSE

  4. Graymont Limited

  5. Omya AG

*Disclaimer: Major Players sorted in no particular order

Limestone Market - market concentration.png
bookmark Need More Details on Market Players and Competitors?
Download PDF

Limestone Market News

  • In April 2022, Imerys announced the new capacity expansion and optimization investment in the Sylacauga (AL) plant in Alabama, United States supporting the growing demand for ground calcium carbonate products.
  • In June 2021, Carmeuse opened a new installation to produce limestone filler, with a production capacity of 450,000 metric tons, making it the largest manufacturing unit of its kind in the Benelux, with an investment of EUR 16.5 million.
  • In April 2021, Minerals Technologies Inc. agreed to establish a 50,000 metric tons per year satellite precipitated calcium carbonate plant at its paper mill in Suiping County, Zhumadian City, with Zhumadianshi Baiyun Paper Co. Ltd.

Limestone Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Construction Industry

      2. 4.1.2 Increasing Steel Production Globally

    2. 4.2 Restraints

      1. 4.2.1 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Import-export Trends

    6. 4.6 Price Trends

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Industry Lime

      2. 5.1.2 Chemical Lime

      3. 5.1.3 Construction Lime

      4. 5.1.4 Refractory Lime

    2. 5.2 End-user Industry

      1. 5.2.1 Paper and Pulp

      2. 5.2.2 Water Treatment

      3. 5.2.3 Agriculture

      4. 5.2.4 Plastics

      5. 5.2.5 Building and Construction

      6. 5.2.6 Steel Manufacturing and Other Industries (Including Energy)

      7. 5.2.7 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AMR India Limited

      2. 6.4.2 CARMEUSE

      3. 6.4.3 GLC Minerals LLC

      4. 6.4.4 Graymont Limited

      5. 6.4.5 Gujarat Mineral Development Corporation Ltd.

      6. 6.4.6 Imerys

      7. 6.4.7 Kerford Limestone

      8. 6.4.8 LafargeHolcim

      9. 6.4.9 Lhoist Group

      10. 6.4.10 Minerals Technologies Inc.

      11. 6.4.11 Okutama Kogyo Co. Ltd

      12. 6.4.12 Omya AG

      13. 6.4.13 RSMM Limited

      14. 6.4.14 Ryokolime Industry Co. Ltd (Mitsubishi Materials Corporation)

      15. 6.4.15 Schaefer Kalk

      16. 6.4.16 The National Lime & Stone Company

      17. 6.4.17 United States Lime & Minerals Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Upcoming Global Wastewater Treatment Projects

**Subject to Availability
bookmark You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Limestone Industry Segmentation

Limestone is a sedimentary rock that is primarily composed of calcium carbonate, generally in the form of mineral calcite or aragonite. It is generally a biological sedimentary rock that is formed from the accumulation of shell, algal, fecal, coral, and other organic debris. However, some limestones are also formed by chemical sedimentary processes, including the precipitation of calcium carbonate from ocean or lake water. The limestone market is segmented by application, end-user industry, and geography. By application, the market is segmented into industry lime, chemical lime, construction lime, and refractory lime. By end-user industry, the market is segmented into paper and pulp, water treatment, agriculture, plastics, building and construction, steel manufacturing, and other end-user industries. The report also covers the market size and forecasts for the limestone market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

Application
Industry Lime
Chemical Lime
Construction Lime
Refractory Lime
End-user Industry
Paper and Pulp
Water Treatment
Agriculture
Plastics
Building and Construction
Steel Manufacturing and Other Industries (Including Energy)
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
customize-icon Need A Different Region Or Segment?
Customize Now

Limestone Market Research FAQs

The Limestone Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Minerals Technologies Inc., Imerys, CARMEUSE, Graymont Limited and Omya AG are the major companies operating in the Limestone Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Limestone Market.

The report covers the Limestone Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Limestone Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Limestone Industry Report

Statistics for the 2024 Limestone market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Limestone analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Limestone Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)