by The global Limestone Market is estimated to be valued at US$ 856089.93 Mn or Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Limestone is a sedimentary rock composed mostly of the mineral calcite and comprising about 15% of the Earth’s sedimentary crust. Limestone products find wide applications in construction, agriculture, environmental, and industrial applications.
Market key trends:
One of the key driver for limestone market is increasing demand for construction products such as cement, concrete and mortar in developing economies. The infrastructure development programs to expand power, transport, residential and commercial construction boost the demand for construction materials. Limestone acts as a base material for cement manufacturing. Cement is a basic ingredient used in construction of buildings, road, bridges and other infrastructure. Rising construction activities augments the growth of cement and concrete products driving the need for limestone.
Market key trends:
One of the key trends in the limestone market is the increasing use of limestone in construction activities. Limestone finds wide applications in construction projects as it is used in building roads, sidewalks, houses, commercial buildings, etc. Properties of limestone such as durability, sustainability, workability and affordability make it a preferred construction material. With rapid urbanization and infrastructure development activities across both developing and developed countries, the demand for limestone in the construction industry has witnessed strong growth over the past few years and is expected to rise further.
SWOT Analysis
Strength: Limestone reserves are widely available across different regions of the world. Abundant availability of raw material ensures smooth supply and reduces dependency on imports.
Weakness: Frequent price volatility of limestone due to fluctuations in supply and demand can be challenging. Limestone mining can also damage the surrounding environment if not undertaken sustainably.
Opportunity: Rising construction activities in developing countries present an opportunity to boost limestone consumption. High growth in cement production also offers an avenue for limestone market development.
Threats: Stringent environmental regulations surrounding limestone mining can constrain production. Intense competition from substitute materials like cement can threaten market share.
Key Takeaways
The Global Limestone Market Size is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing construction activities across both developed and developing economies. The market size for 2023 is estimated to be US$ 856089.93 Mn.
Regional analysis: Asia Pacific dominates the global limestone market backed by high limestone consumption in construction and cement production in China, India and other Asian countries. China accounts for over 30% of global limestone reserves and is also one of the leading limestone producers worldwide.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
