Limestone Market Growth & Trends
The global limestone market size is anticipated to reach USD 126.75 billion by 2030, 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.
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.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
Chapter 4. Limestone Market: End-Use Estimates & Trend Analysis
Chapter 5. Limestone Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Imerys
- Lhoist
- CARMUSE
- CEMEX S.A.B de C.V
- GCCP Resources Limited
- LafargeHolcim
- Mineral Technologies Inc.
- National Lime & Stone Company
- US Aggregates
- Saudi Lime Industries Co.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 101 |
| Published | April 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 72.31 Billion |
| Forecasted Market Value ( USD | $ 126.75 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
