Market Research Report
Limestone Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||642113|
|Published||Content info||108 Pages
Delivery time: 2-3 business days
|Limestone Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: April 1, 2019||Content info: 108 Pages||
The limestone market is anticipated to register a CAGR of 6.5% during the forecast period, 2019-2024. Limestone is a sedimentary rock composed primarily of calcium carbonate in the form of mineral calcite. It can also be in the form of chemical sedimentary rock, formed by the precipitation of calcium carbonate from lake or ocean water.
Increasing Demand from the Paper and Pulp Industry
The Asia-Pacific Region is Expected to Dominate the Market
In Asia-Pacific, India is a growing economy that holds great potential for future market opportunities. Despite demonetization and GST reforms affecting the national production volume, the impact of these reforms is slowly waning. Moreover, the country's government has been taking initiatives to attract FDI's in the manufacturing sector, to make India a manufacturing hub. The government is targeting an increase in the share of the manufacturing sector in GDP from 16% to 25%, by 2022. The production of lime stone in the country has been increasing from the past four years. In 2017, the production reached to 313.2 million metric ton, with an increase of about 2%, in comparison to that of 2016. Karnataka is the leading state in the country, with almost 27% of total resources, followed by Andhra Pradesh and Rajasthan with 12% each. Among these, Rajasthan produces around 21% of the limestone production in the country, followed by Madhya Pradesh and Andhra Pradesh, accounting for 11% each. The construction industry is the second-largest in India, followed by agriculture, contributing a significant amount to the national economy and providing employment to large number of people. The housing sector is projected to contribute around 11% to the India's GDP by 2020. The country is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, where the country is likely to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise by around 70% by 2024, in India. The increase in consumption of limestone, due to the growing demand from the end-user industries, is projected to rise the regional market demand.
The limestone market is partially fragmented. In terms of market share, few of the major players currently account for a moderate share of the market. Key players in the limestone market include Imerys, CARMEUSE, Mitsubishi Materials Corporation, American Elements, Graymont Limited, and Lhoist Group, among others.