Lime Stone Market outlook, regional growth & industry share by 2024
Lime Stone
Market is
witnessing challenges that includes adverse effect of the product, if it is
left untreated, it can wear down equipment parts. Major restrain of lime stone
market is the good’s excavation activity as it is obtained from natural
resources. Noise and dust caused by its manufacturing can damage the
surrounding and environment. The blast can change sinkholes or drainage and
water quality of the underground aquifers.
Lime Stone Market size will witness a noticeable
growth in forecast period due to growth of construction industry has surged
lime stone market. It is used in manufacturing glass and is one of the
important component in concrete. It is widely consumed in building blocks to
give strength and durability to the structure. Usage of the product in cement
manufacturing and other daily use goods is boosting the industry.
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Cement industry will grow at a rate of over
9% up to 2024. Increasing urbanization, infrastructure and steel manufacturing
will rise product demand. It is defined as a rock with high level of calcium
carbonate that is broadly used in various construction application. It is even
used to build road base, structural fill, drainage and erosion control. Growing
infrastructure, use of goods in airport runways, malls, and parking lots has
subsequently increased industry size.
The product is crucial in construction sites,
it absorbs moisture from soil, reduces soil plasticity, increases soil strength
for the vehicle used in construction and gives long term strength to soil. Government
is investing highly on infrastructure worldwide to enhance economy and
industrial growth. Global construction is expecting growth of over 3% in the
forecast time period, this will drive lime stone market.
The product is obtained from natural resources
that include rocks and sediment’s. Supply chain of the goods is initiated from
excavation of big rocks and mines. They are transported to various
manufacturing companies for use in various applications including construction,
steel manufacturing and mining.
Lime stone market is segmented into
high-calcium and magnesium rock. High calcium has higher share in comparison of
magnesium. It is used in diversified applications including construction, water
treatment, chemical processes, glass manufacturing, mining, and steel
manufacturing.
North America is expecting sustainable growth
in the forecast time frame, the U.S. steel industry is major contributor in
overall economic development and is one of the largest producer of iron steel
industry globally. Growing steel industry will boost lime stone market. The
region is hosting major steel producers of the world including U.S steels.
Company was 15th largest steel producer in 2015.
Asia Pacific will witness high growth in lime
stone market. India will contribute in growth of the product. With new stable
government, India will have future plans for manufacturing and infrastructure
sector that would boost steel industry. South Africa is well-endowed with the
product. The resources available in the region is highly suitable for cement
manufacturing. It is a major producer of minerals globally; this trait will
propel lime stone market at a faster pace.
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Europe is extensively using the rock in
various application including purification waste water, removing acidic gas
from flue gases and enhancing soil fertility. The region is majorly using the
stone for enhancing output and removing impurities from steel. The industries
that are escalating the lime stone market in the region are chemical,
agricultural, civil, construction and environment protection.
Key players of lime stone market includes
Tarmac, Atlantic Minerals Ltd, Buechel Corporation, Graymont Ltd, Lhoist Group,
Nittetsu Mining Co, Mitsubishi Material corporation, Grupo Calidra,
LafargeHolcim Ltd and UBE Material industries. Lafarge SA merged with
LafargeHolcim to expand its manufacturing and extend its export capacities. AIM
acquires Glencoe Resources and Kewstoke, that provides the company sole control
over the deposits of the acquired companies.
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Lime Stone Market outlook, regional growth & industry share by 2024
Reviewed by Pradip Varpe
on
July 12, 2018
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