Limestone Market Estimated to Witness High Growth
SWOT Analysis
Strength: Limestone is widely available as it is the most abundant non-metallic rock material. It possesses high strength and durability properties making it suitable for various construction applications such as aggregate in concrete and cement production, road construction, and building material. The mineral is also affordable and abundantly available in nature which reduces overall project costs.
Weakness: Limestone supplies are dependent on geographic locations as it is formed by geological processes which take place over millions of years. Transportation of limestone over long distances significantly increases overall project costs. Limestone is also vulnerable to weathering when exposed to natural elements which affects its strength and durability over long term use.
Opportunity: Growth in construction and infrastructure development activities especially in emerging economies of Asia Pacific and South America is expected to boost demand for limestone in the forecast period. Rising application scope in wastewater treatment plants and flue gas desulfurization units also opens new opportunities for limestone market players.
Threats: Stringent mining regulations and environmental norms associated with limestone quarrying may negatively impact supplies. Substitute materials for cement and concrete production such as fly ash and slag cement poses a threat to limestone market share.Volatile limestone prices due to fluctuating energy and transportation costs remain a key challenge.
Key Takeaways
The Global Limestone Market Size is expected to witness high growth over the forecast period supported by rising construction activities worldwide. The Asia Pacific region currently dominates the global limestone market owing to high demand from China, India, and other developing Asian countries. Factors such as rapidly growing building & infrastructure sector, rising per capita income, and increasing population are driving limestone consumption in the region.
Regional analysis:
The Asia Pacific region accounts for over 35% value share of the global limestone market led by China, India, Japan, and other South Asian countries. China alone contributes to nearly 30% of global limestone consumption due to high cement and concrete production. India is also considered a major market and is estimated to grow at the fastest rate during the forecast period supported by government investments in infrastructure development projects under various schemes. Europe and North America currently hold around 25-30% combined market share and continue expanding limestone applications in construction as well as water treatment sectors.
Key players:
Key players operating in the limestone market are AMR India Limited, Carmeuse, GLC Minerals LLC, Graymont Limited, Gujarat Mineral Development Corporation Ltd, Imerys, Kerford Limestone, LafargeHolcim, Lhoist Group, Minerals Technologies Inc., Okutama Kogyo Co. Ltd, Omya AG, RSMM Limited, Ryokolime Industry Co. Ltd (Mitsubishi Materials Corporation), SCHAEFER KALK GmbH & Co. KG, The National Lime & Stone Company, and United States Lime & Minerals Inc.
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