Lime Market Is Expected To Reach US$ 74,375.17 Mn By 2025: Rising Demand From End Use Application Is Stimulating The Market Growth
The latest market report published by Brisk Insights “Lime Market, By Application, Product Type and Geography - Growth, Future Prospects and Competitive Analysis, 2017 - 2025,” the global lime market was valued at US$ 42,769.28 Mn in 2016, and is expected to each US$ 74,375.17 Mn by 2025, expanding at a CAGR of 6.7% from 2017 to 2025. It terms of volume the market is projected to reach 552.16 million tons by 2025, expanding at a CAGR of 5.2% from 2017 to 2025
Browse the full Lime Market - Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.briskinsights.com/report/lime-market
Market Insights
Lime market is witnessing growth due to rise in demand from various end use applications. Rising concerns between government as well as private authorities for environmental safety have led to development and increased usage of lime for waste water management. In addition, waste water management is gaining significant adoption among companies in order to comply with stringent regulations regarding environmental safety by government and international authorities. Benefits of using lime in industrial water management include water softening, perception of dissolved salts, coagulation of suspended solids, water purification against bacteria and others.
Furthermore, rising demand for lime from emerging economies is propelling the market growth. Industrial sector has witnessed cyclic growth in emerging economies in the recent years. With increasing intervention by government, growing urbanization, improving economies and strong mineral resources, the regions are anticipated to record significant infrastructural developments in the forthcoming years. Also, growing iron and steel industry in these regions drives the demand for lime and has further led lime manufacturers to increase their production capacity to meet the demand from heavy industries.
Competitive Insights
The market is highly fragmented due to presence of various small and large players. Logistics play a vital role to enhance the profitability of the manufacturers. Companies are focusing on increasing its market penetration to become a leading lime producer. In order to achieve this, the company has been expanding its lime production capacity to meet the rising demand.
Key Trends
- Rising demand from emerging economies
- Increasing application scope
Manufacturers to increase their production capacity to meet the demand from heavy industries