The global lime market size is expected to showcase significant growth by reaching USD 49.11 billion by 2027 while exhibiting a CAGR of 2.3% between 2020 and 2027. The increasing demand for lime for several chemical applications in the chemical industry and the stringent legal framework for treating wastewater is attributed to the growth. Fortune Business Insights, in its latest report, titled, “Lime Market Size, Share Industry Analysis, By Type (Quick Lime, and Hydrated Lime), Application (Agriculture, Building Material, Mining Metallurgy, Water Treatment, and Others), and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 41.84 billion in 2019.
Suspension of Mining Activities to Disrupt Supply Chain amid COVID-19
The mining of lime is critical because of its prominence for end-user industrial applications such as construction, metallurgy, and chemicals. However, the lockdown imposed by several government agencies globally has led to the halting of several mining activities that disrupt the supply chain of the product. This is likely to lead to restricted market growth in the near future. However, lifting of restrictions imposed on the mining and construction activities by the government while adhering to stringent social-distancing norms is expected to favor the market growth.
Lime is primarily a calcium-oxide inorganic mineral adopted across several industrial applications such as refinement of sugar crystals, building roads, and chemical feedstock. It is further used as an additive in asphalt to improve cohesion and chemical manufacturing to produce calcium carbonate.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
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