Lime Market Market Demand size
Albany, NY -- (SBWIRE) -- 04/06/2021 -- Lime Market: Application in Construction and Steel Manufacturing Gaining Traction:
Lime has been widely used in various building and construction techniques for more than 5,000 years. The durability, resilience, and water-resistant properties of lime make it an ideal material for construction activities, especially among those that involve using natural materials. Lime is one of the very few mineral derivatives that can be used to manufacture steel – a factor that has played an imperative role in its high uptake for steel manufacturing, thus, aiding the growth of the lime market, worldwide. While quicklime is extensively used as a flux agent to get rid of impurities in steel, slaked lime finds application across the construction sector around the world. The quicklime segment within the lime market, is thus, expected to account for three-fourth of the total share, and attain a market value of ~US$ 50 Bn at the end of the forecast period (2019-2027).
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Growing Adoption of Lime to Enhance Engineering Properties of Soil Being Observed:
Lime is extensively used to modify and improve the engineering properties of soil, i.e. the load-bearing threshold and workability. Further, it also plays a critical role in improving the impermeability and workability of soil. Lime kiln dust and quicklime are being increasingly used across the construction sector to dry wet soil, which provides an enhanced working surface. Further, owing to its critical role in soil stabilization and modification, its demand for construction applications is projected to witness a 1.7x increase over the forecast period. Although lime can enhance the properties of all types of fine-grained soils, the most notable change can be witnessed in clay soils that have moderate to high plasticity.
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The application of lime in clay soil alters the moisture-retention capacity and simultaneously enhances the stability of the soil. However, it is critical to add the right quantity to the reactive soil to achieve the desired outcome. Soil stabilization ensures long-term durability and enhances the shear strength of the soil, making it favorable for construction and building activities. At the back of the growing demand for lime within the construction sector around the world, the global lime market is set to grow at a healthy pace over the assessment period.
Stringent Regulatory Framework Boosts Demand in Wastewater Treatment Processes:
Wastewater treatment processes have garnered significant popularity in the past couple of decades, as biological and chemical contamination in water has emerged as a major concern for government authorities, industrial companies, and society as a whole. A majority of international and domestic industrial activities produce large volumes of wastewater that contains toxic chemicals. The adoption of lime for wastewater treatment is on the rise, as it modifies the pH and alkalinity in flocculation, biological treatment, and coagulation treatment processes. The demand for slaked lime in acid neutralization processes is witnessing an upswing, owing to its cost-efficiency and favorable chemical properties. Industrial wastewater is acidic in nature, and if left untreated, causes significant damage to the environment. To address this problem, stringent regulations pertaining to wastewater treatment and disposal are being introduced by governments across the world. Within the past few years, a notable rise in government investments toward industrial and sewage wastewater can be observed. Further, the growing adoption of highly-efficient and stable wastewater treatments has increased the demand for lime, thereby offering promising growth prospects for market players operating in the global lime market.
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Stakeholders Turn toward Mergers & Acquisitions to Improve Footprint in Lime Market:
Prominent and well-established participants in the lime market are focusing on improving their production capabilities to meet the growing demand for lime for wastewater treatment, soil modification, manufacturing of steel, and metallurgical applications, among others. In addition, companies are also aiming to expand their product portfolios to stay relevant in the current lime market landscape, by entering into strategic alliances with domestic players in regional lime markets.
For instance, Sibelco entered into an agreement with some of the leading companies in the lime market – Grupo Calidra and Graymont. Graymont revealed that, the acquisition of Sibelco's operations in Malaysia, Indonesia, Australia, and the Philippines will enable the company to expand its presence across the Asia Pacific region, where, ~547,500 tons of lime is expected to be sold in 2027.
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