The global market for lime has been witnessing a tremendous rise in its market valuation, thanks to the rise in the building and construction industry. As lime is an essential component in the construction of a structure, plays an important role in the manufacturing of iron, non-ferrous metals, and steel, and is highly effective in waste water treatments, its demand is projected to increase significantly in the near future.
According to Transparency market Research (TMR), the global lime market stood at US$44.8 bn in 2015. Reporting a CAGR of 6.20% between 2016 and 2024, the opportunity in this market is expected to rise to US$76.4 bn by the end of 2024.
Browse Market Research Report @ http://www.transparencymarketresearch.com/lime-market.html
What are the important factors that are influencing the growth of the global lime market?
The rise in the construction activities across the world, fueled by the increasing trend of urbanization in both the developed as well as emerging regions, is the key factor driving the growth of the global market for lime. A major shift from the rural areas to the city can be observed, globally, which has created a massive need for residential structures and clean drinking water, which, consequently is boosting the demand for lime and is expected to continue doing so over the next few years.
On the flip side, the market may face severe challenges from the alarming rise in concerns regarding air pollution, since the burning of limestone for the production of quick lime leads to dangerous emissions in the years to come.
How is the leading regional market going to perform in the near future?
Asia Pacific has emerged as the leading regional market for lime across the world, thanks to the swift infrastructural development and the rise in the building and construction activities. As this rise in expected to remain steady, the region is projected to continue on the top over the next few years. Other regional markets, including the Middle East and Africa, North America, and Europe, are also anticipated to witness healthy growth in the near future on the grounds of the significant increase in the chemicals industry.
What are the key strategies leading players are focusing on in a bid to gain supremacy?
The global lime market is highly fragmented in nature due to the intense rivalry between a few established players, such as Carmeuse, Lhoist, Graymont, and Mississippi Lime. These participants are focusing specifically on mergers, acquisitions, and partnerships in an effort to expand their reach and, in turn, their businesses in the emerging regions. Currently, players are facing a severe challenge of forward integration from the suppliers of raw materials across the value chain. However, with product differentiation, they are likely to overcome this situation in the years to come.