The global limestone market size is anticipated to value USD 102.7 billion until 2027. It is also expected to register a CAGR of 4.4% over the forecasted years, 2020 to 2027. Rapid technological advances for infrastructure development are estimated to propel the demand for limestone.
The rock of limestone includes ingredients like calcium carbonate, clay, silica, and slit. They are widely used to carry out the construction of buildings. Also, its usage in the production of cement and for aggregate in the construction of roads is gaining traction. Also, features like higher strength, enhanced durability, more structural integrity and heat conductivity are anticipated to augment its market demand.
The end-use segment of building and construction dominated the global market in 2019 owing to the surging adoption of limestone for enhancing the strength and beauty of several infrastructures. On the other hand, the iron and steel industry also makes use of limestone for manufacturing and refining of steel.
In 2019, Asia Pacific dominated the global limestone market with a share of around 53.0% due to the presence of the majority of the steel producers across this region. North America is projected to register 3.1% CAGR over the forecasted period on account of a large number of animal feed producers across the U.S. and Canada.
The market for limestone across the globe includes key players such as Lhoist, LafargeHolcim, Mississippi Lime Company, Imerys, Mineral Technologies Inc., and CARMEUSE. They are implementing rapid technological advances for the development of infrastructure. Also, a competitive pricing strategy is being implemented by the key players for widening their geographical reach.
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Further key findings from the report suggest:
• The building and construction end-use segment dominated the global market in 2019.
• In 2019, the iron & steel end-use segment held a share of around 5.0% across the global market in terms of volume.
• Asia Pacific is projected to register fastest growth over the forecasted period, 2020 to 2027.
• The key players in this market are Lhoist, LafargeHolcim, Mississippi Lime Company, Imerys, Mineral Technologies Inc., and CARMEUSE.
Million Insights has segmented the global limestone market on the basis of end-use and region:
Limestone End-use Outlook (Volume, Million Tons; Revenue, USD Million, 2016 - 2027)
• Building & Construction
• Iron & Steel
Limestone Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Central & South America
• The Middle East & Africa