Lime is a calcium hydroxide and is derived from quicklime and hydrated lime. It is basically calcium-containing inorganic product and mainly composed of calcium oxide. Lime products are considered as ideal building and engineering materials. Moreover, lime along with the ferrous sulfate is also used in wastewater treatment. Some of the other major end-user industries of lime are construction, the food industry, agriculture, and steel industry. Furthermore, it is also used as a key ingredient in the manufacturing of various inorganic and organic chemicals in the chemical industry.
The U.S. lime market was estimated to be valued more than US$ 2.8 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 3.7% during the forecast period (2020 to 2027).
The growing mining industry in the U.S. country is expected to augment the market growth of lime. According to, U.S. Department of the Interior, the U.S. mines produced an estimated US$ 82.2 billion of raw mineral materials in 2018, a 3% increase over the revised total of US$ 79.7 billion in 2017. Moreover, the estimated value of U.S. industrial minerals production in 2018 was US$ 56.3 billion, about 7% more than the revised value of 2017. Therefore, growth in the mining industry in the country is expected to bolster the market growth of lime.
The rising production of steel crude products in the U.S country is projected to provide enormous growth opportunities to the market of lime. According to the WorldSteel, the U.S. produced 81.6 million metric tons of steel in 2017. This marked a 4% increase from the year before when it produced 78.5 million metric tons in 2016. Therefore, the rising production of the steel crude product in the U.S. is expected to offer potential opportunities to the market of the lime.
Availability of substitutes of lime such as limestone and magnesium hydroxide calcined gypsum which are widely used across various applications such as sulfur removal, agriculture, and fluxing is expected to restrict the market growth of the lime. Moreover, the low cost of the limestone than lime is further fueling its demand as an alternative of lime. This is expected to hinder the market growth of lime over the forecast period.
On the basis of product type, quicklime dominated the U.S. lime market in 2019 with around 84% of market share in terms of revenue, followed by hydrated, respectively.
Increasing application of lime as a filler in the manufacturing of pigment in the paints & coatings industry is expected to bolster the market growth lime. Growing demand for lime from the furniture industry where it is used as a neutralizer to neutralize acid during the manufacturing process is further projected to propel the market growth of U.S. lime over the forecast period.
The growing focus of manufacturers to increase the production capacity of lime in order to meet the rising demand from wastewater treatment, steel production, soil modification, and metallurgical applications is expected to augment the market growth. Various companies in the country are also entering into strategic alliances with international players in order to expand their regional as well as global presence is further anticipated to stimulate the market growth.
U.S. lime Market - Impact of Coronavirus (Covid-19) Pandemic
Mandatory shutdowns implemented by governments across the globe in order to stop the spread of Covid-19 have hit the U.S. lime market during first quarters of 2020. This in turn is expected hamper to growth of the U.S. lime Market for a short term period till 2021.
Key players are operating in the U.S. lime market are Carmeuse, The United States Lime & Minerals, Inc., Cheney Lime & Cement Company, Lhoist, Linwood Mining & Minerals, Pete Lien & Sons, Inc., Mississippi Lime Company, Graymont Limited, and Valley Minerals LLC
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Mississippi Lime Company
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