Limestone Global Market Report 2024

Limestone is a sedimentary rock primarily composed of calcium carbonate (calcite) or calcium-magnesium double carbonate (dolomite). It incorporates microscopic fossils, shell fragments, and other fossilized debris. While commonly grey, limestone can also exhibit white, yellow, or brown hues. It is utilized in various forms such as aggregates, cement, building stones, chalk, and crushed stone, and is commonly employed in road and building construction.

Limestone is primarily classified into two main types: magnesian limestone and high-calcium limestone. High-calcium limestone denotes lime that is predominantly composed of calcium oxide or calcium hydroxide, containing no more than 5% magnesium oxide or hydroxide. These limestone types are further categorized based on their size, encompassing crushed limestone, calcined limestone (PCC), and ground limestone (GCC). The classification of limestone also extends to its various applications, such as industrial lime, refractory lime, chemical lime, and construction-based lime. Key end-user segments for limestone include paper and pulp, water treatment, agriculture, building and construction, plastics, food and beverage, among others.

The limestone market research report is one of a series of new reports from The Business Research Company that provides limestone market statistics, including limestone industry global market size, regional shares, competitors with a limestone market share, detailed limestone market segments, market trends and opportunities, and any further data you may need to thrive in the limestone industry. This limestone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The limestone market size has grown strongly in recent years. It will grow from $73.28 billion in 2023 to $78.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The expansion observed in the historical period can be ascribed to historical economic cycles and industrial growth, a surge in construction activities and infrastructure development, applications in the industrial sector, agricultural practices, and the preservation and restoration of architectural heritage.

The limestone market size is expected to see strong growth in the next few years. It will grow to $100.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be linked to shifts in consumer preferences and design trends, projects focused on infrastructure development, expansion in the construction industry, increased cement production, and adherence to environmental regulations and sustainable practices. Key trends in this projected period encompass the preservation of heritage and restoration, utilization in interior design and decorative applications, the integration of renewable energy and water treatment, the global expansion of the economy, and applications in agriculture.

The growth of the limestone market is being propelled by the escalating demand from the construction industry. The construction sector has experienced a significant surge post-pandemic, with numerous projects resuming after being halted during lockdowns. Limestone serves as a crucial raw material in the manufacturing of cement, an essential component in construction. Cement is utilized in various construction mixtures, including the production of composite concrete blocks, to meet specific requirements in supporting building structures. According to the U.S. Census Bureau's report on monthly construction spending in 2022, construction spending was projected to reach $1,744.8 billion in April 2022, reflecting a 0.8% increase from the revised March 2022 estimate of $1,740.6 billion. Hence, the heightened demand from the construction industry is driving the growth of the limestone market.

The increasing focus on renewable energy is expected to propel the growth of the limestone market going forward. Renewable energy refers to energy derived from resources that are naturally replenished on a human timescale and are considered environmentally sustainable. Limestone contributes to renewable energy projects by serving as a durable foundation for structures, aiding in wind turbine stability, supporting infrastructure construction, and participating in processes such as carbon capture and geothermal power generation. For instance, in January 2023, according to the Energy Information Administration, a US-based government agency, 16% of total energy generation in 2023 is anticipated to come from renewable energy sources such as wind and solar, up from 14% in 2022. Therefore, the increasing focus on renewable energy is driving the growth of the limestone market.

The limestone market is witnessing the emergence of product innovations as a prominent and popular trend. Key companies within the limestone market are actively engaged in the development of inventive products with the aim of enhancing their market profitability. A notable example is the Holcim Group, a cement manufacturer based in the Philippines, which introduced Holcim Optimo in June 2023. Holcim Optimo, characterized as a novel cement product, maintains the strength equivalent to ordinary Portland cement (OPC) while reducing CO2 emissions by 10%. Formulated with limestone additives, it preserves workability and durability, seamlessly complementing other additives such as slag and fly ash. Specifically designed for large-scale construction projects, Holcim Optimo reflects Holcim Philippines' commitment to eco-friendly solutions, reinforcing its portfolio of innovative and sustainable products to meet the growing demand for environmentally conscious solutions in the country.

Major companies in the limestone market are placing a strong emphasis on strategic collaboration to offer reliable services to their customers. Strategic collaboration involves the formation of mutually beneficial partnerships between two or more independent entities working together to achieve shared goals that align with their individual strategic objectives. As an illustration, in June 2023, Ecocem, an Ireland-based provider of high-performance, low carbon cement technologies, entered into a partnership with CB Green, a Belgium-based provider of low carbon and circular economy solutions. The collaboration aims to establish a limestone fillers grinding plant, producing high-quality limestone filler-a crucial component in Activated Clay Technology (ACT) cement. This increased limestone filler production is anticipated to empower Ecocem to expand the production of ACT cement and broaden its supply to a more extensive customer base in Europe.

In January 2022, Ultratech Cement Limited, an Indian company known for manufacturing grey cement, ready-mix concrete, and white cement, successfully purchased 100% equity shares in National Limestone Company Private Limited for $2.91 million (INR 230 million). Following the acquisition, Ultratech Cement gained control over the limestone mining reserves owned by National Limestone Company, which will contribute to Ultratech's operations. National Limestone Company Private Limited, an India-based firm, is actively engaged in the limestone market.

Major companies operating in the limestone market report are Mitsubishi Materials Corporation, Gulshan Polyols Ltd., Imerys S.A., Rock Chemical Industries Group (India) Pvt. Ltd., Lhoist Group, Omya AG, RSMM Limited, Elegant Natural Stones Pvt. Ltd., CARMEUSE & CIE, United States Lime & Minerals Inc., The National Lime & Stone Company, Sigma Minerals & Chemicals Ltd., Schaefer Kalk GmbH & Co. KG, ss-industries, Chirag Minerals Pvt. Ltd., Kerford Limestone Inc., Aditya Stonex Pvt. Ltd., Jay Minerals Pvt. Ltd., Agarwal Min Chem, Raj Associates, Indo Chemicals Pvt. Ltd., Ryokolime Industry Co.Ltd., Srinath Enterprises Pvt. Ltd., Shree Sal Calnates India Pvt. Ltd., kunal calcium, Calspar India Ltd., Durga Lime Industries Pvt. Ltd., AR Stone Craft, Krishna Mines & Minerals Ltd., Maharaja Stones Pvt. Ltd., Zantat Sdn Bhd., CAO Industries Sdn Bhd., Uniko Calcium Carbonate Industry Sdn Bhd., Kaolin International Pvt. Ltd.

Asia-Pacific was the largest region in the limestone market in 2023. The regions covered in the limestone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the limestone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The limestone market consists of sales of calcite, dolomite, tiny fossils, and shell fragments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Limestone Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on limestone market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for limestone ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The limestone market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Magnesian Limestone; High-Calcium Limestone
• 2) By Size: Crushed Limestone; Calcined Limestone (PCC); Ground Limestone (GCC)
• 3) By Application: Industry Lime; Refractory Lime; Chemical Lime; Construction-Based Lime
• 4) By End User: Paper And Pulp; Water Treatment; Agriculture; Building And Construction; Plastics; Food And Beverage; Other End-Users
• Companies Mentioned: Mitsubishi Materials Corporation; Gulshan Polyols Ltd.; Imerys S.A.; Rock Chemical Industries Group (India) Pvt. Ltd.; Lhoist Group
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.