Global Limestone Industry by 2026 – India will drive Asia Pacific market growth

DUBLIN, Aug 16, 2021 – (BUSINESS WIRE) – The report “Limestone Market – Growth, Trends, Impact of COVID-19 and Forecasts (2021-2026)” has been added ResearchAndMarkets.com offer.

The global Limestone market size has been estimated at 780,426.91 Kilotons in 2020 and the market is expected to experience a CAGR of over 3% during the forecast period (2021-2026).

Mentioned companies

  • AMR India Limited

  • CARMEUSE

  • GLC Minerals LLC

  • Graymont Limited

  • Gujarat Mineral Development Corporation Ltd

  • Imerys

  • Kerford limestone

  • LafargeHolcim

  • Lhoist group

  • Minerals Technologies Inc.

  • Mitsubishi Materials Corporation

  • Okutama Kogyo Co. Ltd

  • Omya AG

  • RSMM Limited

  • Ryokolime Industry Co. Ltd (Mitsubishi Materials Corporation)

  • Schaefer lime

  • The National Lime & Stone Company

  • USA Lime & Minerals Inc.

Major market trends

Steel making and other industries (including energy) will dominate the market

  • On average, around 270 kg of limestone is used to make 1,000 kg of crude steel when it is made by blast furnace (BF) and basic oxygen furnace (BOF). When using an electric arc furnace, however, around 88 kg of limestone are used to produce 1,000 kg of crude steel.

  • According to estimates by the World Steel Association (Worldsteel), global steel demand is expected to grow 1.7% and reach 1.81 million tons by 2021, up from 1.78 million tons in 2019.

  • In the Asia-Pacific region, on the other hand, Chinese steel demand is expected to increase by almost 7.8%. This trend is expected to slowly increase in 2020, with steel demand in the Asia-Pacific region and the rest of the world growing by only 1% and 2.5%, respectively, due to the COVID-19 outbreak. The growth in China was driven by the real estate sector and the steel intensity of new construction increased by almost 5%.

  • However, due to the COVID-19 outbreak, all countries are under temporary lockdown, which will temporarily hamper steelmaking. However, production is expected to increase over the forecast period.

  • In addition to steel production, limestone is also used in fossil-fired power plants for flue gas desulphurisation, in which the sulfur dioxide is removed from the flue gas emissions.

  • According to UNEP, coal is currently the leading fuel in the energy sector, accounting for 37.8% of the electricity generated, with hydro 17.5%, natural gas 17.3%, nuclear 16.8%, oil 9% and non-hydro renewables Energies for 1.6%.

  • Coal is expected to remain the main fuel for power generation in 2020 (around ~ 36%), while natural gas generation is expected to be the second largest source, outperforming hydropower capacity.

India is set to drive the growth of the Asia-Pacific market

The story goes on

  • India is a growing economy and holds great potential for future market opportunities. India’s growth rate slowed to 4.2% in 2019. According to the latest IMF projections, the country’s GDP growth is estimated to be -10.3% in 2020 due to the COVID-19 outbreak and will rise to 8.8% in 2021, subject to the post-pandemic global economic recovery. The stagnation of industrial production, greenfield investments and the flattening of demand have all led to a decline in the country’s growth rate.

  • The country’s construction industry grew around 7.1% in 2019 and was expected to grow strongly over the forecast period (pre-COVID-19). Housing construction is undergoing major structural change, with housing associations and high-rise buildings increasingly being built instead of single-family houses and bungalows.

  • While the construction industry is expected to slow down in fiscal 2020-2021 due to COVID-19, the lion’s share of commercial projects are likely to drive construction activity after the lockdown ends, as they are either in the public eye-private partnership (like Smart City) or public projects that are already budgeted.

  • In the long term, therefore, a high growth rate is expected in the construction sector, which should positively influence the demand for steel, blocks and bricks, stone cladding for walls, etc. Since limestone is used in the manufacture of building materials, along with direct application during construction, such trends are likely to result in significant demand for limestone over the forecast period.

Key topics covered:

1 INTRODUCTION

2 RESEARCH METHOD

3 SUMMARY

4 MARKET DYNAMICS

4.1 Driver

4.1.1 Increasing demand from the construction industry

4.1.2 Worldwide increase in steel production

4.2 Limitations

4.2.1 Adverse conditions due to the COVID-19 outbreak

4.2.2 Other restrictions

4.3 Analysis of the industry’s value chain

4.4 Porter’s Five Forces Analysis

4.5 Import-Export Trends

4.6 Price trends

5 MARKET SEGMENTATION (market size by volume)

5.1 Application

5.2 End user industry

5.3 geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Cooperations and Agreements

6.2 Market share (%) / ranking analysis

6.3 Leading Player Strategies

6.4 Company profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Upcoming global wastewater treatment projects

Please visit https://www.researchandmarkets.com/r/d813sk for more information on this report

View source version on businesswire.com: https://www.businesswire.com/news/home/20210816005553/de/

contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]

For EST office hours, call 1-917-300-0470
For US / CAN toll free call 1-800-526-8630
For GMT office hours, call + 353-1-416-8900. on

Comments are closed.