English Extended Distribution PR-Wirein Press Release Reportedtimes Research Newswire

High-Purity Limestone Market Size Forecast to Reach US$1.1 Billion by 2027

High-Purity Limestone Market Overview

High-Purity Limestone market size is forecast to reach US$1.1 billion by 2027 after growing at a CAGR of 4.1% during 2022-2027. High purity limestone is defined as a carbonate rock with a calcium carbonate content of more than 97 percent (CaCO3, usually as calcite). Lime is a calcium-containing inorganic mineral that is primarily composed of oxides and hydroxides, most commonly calcium oxide and/or calcium hydroxide. The increasing age of road and bridge fabrics, increased investment in upgrading existing commercial buildings, and the growing need to replace federal waterway physical structures are expected to create lucrative opportunities for the high-purity limestone market. In addition, increased government support for the construction of new water and wastewater plant will encourage the use of high-purity calcarenite limestone. Furthermore, it is projected that the bolstering metallurgy, food & beverage, and pharmaceutical industry will also contribute towards the market growth during the forecast period.

COVID-19 Impact

The construction industry was one of the hardest hit by COVID-19, as it had already been dealing with a liquidity crisis for more than a year as the financial sector’s non-banking financial institutions collapsed. Several projects were left unfinished during the pandemic as a result of a lack of funding. During the pandemic, construction output was significantly reduced as a result of these factors. For instance, as per the Office for National Statistics, the construction industry in the United Kingdom was 11.6 percent lower in July 2020 than it was in February 2020. In August 2020, the level of construction activity in the United Kingdom was 10.8% lower than in February 2020. Furthermore, manufacturers were stranded on raw material orders as a result of the COVID-19 area’s lockdown, which had a significant impact on the logistics industry. Due to this decline in construction activities, there was a decrease in demand for cement, glass, mortars, which significantly reduced the reduced the demand for high-purity limestone. Thus, during the pandemic, the market for high-purity limestone was limited.

High-Purity Limestone Market Segment Analysis – By Application

The cement segment held a significant share in the high-purity limestone market in 2021 and is forecasted to grow at a CAGR of 3.8% during 2022-2027. It is used to make cement by combining powdered limestone with clay. Cement is a key component of mortar and concrete, both of which are used in construction. The demand for cement is increasing as a result of an increase in the number of road projects, new manufacturing plants, and the construction of large corporate offices. Furthermore, increased government investments in the development of projects involving public transportation, as well as green and social infrastructure, are driving up cement demand. Cement production in India, for example, reached 329 million tonnes (MT) in FY20 and is expected to reach 381 MT by FY22, according to the India Brand Equity Foundation (IBEF). In India, however, consumption was 327 MT in FY20 and is expected to rise to 379 MT by FY22. This increasing production and consumption pattern of cement, in turn, is stimulating the growth of the market.

High-Purity Limestone Market Segment Analysis – By End-Use Industry

The building and construction segment held the largest share in the high-purity limestone market in 2021 and is forecasted to grow at a CAGR of 6.3% during 2022-2027, as high-purity limestone is most commonly used for this purpose. After quarrying, the limestone is sliced into predetermined slabs or blocks. Sculptures, tiles, pyramids, and even stair treads can be made out of these slabs and blocks. Furthermore, high-purity limestone is frequently used in glass, mortars, and cement, which are widely used in residential, commercial, and industrial structures. According to the Australian Bureau of Statistics, private sector houses rose 15.1 percent monthly and 57.5 percent annually in February 2021, in seasonally adjusted terms (ABS). According to the Vietnam Ministry of Construction, the average house floor area per person in Vietnam will be 27 square meters by 2025, with 28 square meters in urban areas and 26 square meters in rural areas. As a result, the expanding building and construction sector is expected to boost demand for limestone, propelling the market growth.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=508477

Report Price: $ 5900 (Single User License)

High-Purity Limestone Market Segment Analysis – By Geography

North America region held the largest share in the high-purity limestone market in 2021 up to 38%, owing to spiraling demand for high-purity limestone from the building and construction industry in the region. According to the US Census Bureau, In December 2021, construction expenditure was estimated at US$1,639.9 billion, up 0.2 percent (0.8 percent) from November’s revised estimate of US$1,636.5 billion. The December figure is US$1,504.2 billion, up 9.0 percent (1.0 percent) from the December 2020 forecast. Spending on construction in 2021 was US$1,589.0 billion, up 8.2% (0.8%) from US$1,469.2 billion in 2020. According to the US Geological Survey, portland cement production in the United States increased by 2.5 percent to reach 86 million tonnes in 2019, while masonry cement production remained stable at 2.4 million tonnes. Furthermore, the increasing cement production is also aiding towards market growth. Thus, the increasing building and construction activity coupled with the increasing cement production in North America is the major factor boosting the market growth during the year 2021 and over the forecast period.

High-Purity Limestone Market Drivers

Construction of New Commercial and Industrial Buildings

High-Purity Limestone systems are frequently used in cement, glass, and mortar which are then widely used in commercial and industrial buildings. The construction of new industrial and commercial facilities is increasing around the world. PepsiCo, for illustration, invested US$109 million in Mexico in May 2019 to build a new plant in Guanajuato. By 2025, the plant will be fully operational. The British government pledged £12 million (US$15.4 million) in August 2020 to assist Derby in establishing a high-tech food manufacturing campus. By 2024, the project should be completed. West Coast Olefins bought a 300-acre plot of land in the BCR Industrial Area in July 2019 for a US$5.6 billion chemical project. The project includes a world-scale ethylene plant and a polyethylene factory, and the company estimates that the construction and startup of the facilities will take three years. The UK government announced in October 2020 that 40 hospitals will be built by 2030 as part of a £3.7 billion (US$4.7 billion) deal. In February 2020, the InterContinental Hotels Group (IHG) announced the signing of two new properties in Saudi Arabia. The demand for cement, glass, and mortar is increasing with the construction of new commercial and industrial facilities, propelling the high-purity limestone market forward.

Increasing Water Treatment Projects

The pH of water is commonly adjusted with high-purity limestone to prepare it for further treatment. High-purity limestone is also used to combat “red water” by neutralizing the acid water and preventing acid-water corrosion of pipes and mains. The number of water treatment projects is increasing. The North Shore Wastewater Treatment Plant, for example, is currently under construction and is expected to be completed and fully operational in 2024. The Emirates Water and Electricity Company (EWEC) plans to invest heavily in RO desalination capacity in Amy 2021. To meet a large portion of its ambitious sustainability plans, the plans call for a new capacity capable of producing 170 million gallons per day (772,820 m3/day) of drinking water. The majority of the new RO facilities will be built in Abu Dhabi and neighboring emirates over the next few years. As the number of water treatment projects rises, so will the demand for high-purity limestone, which will undoubtedly propel the market forward during the forecast period.

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=508477

High-Purity Limestone Market Challenges

Environmental and Regulatory Norms Restriction Faced by High-Purity Limestone

Some constraints and challenges will stifle overall market growth. Environmental regulations aimed at reducing greenhouse gas emissions, as well as increased public awareness about global warming, can stymie market growth. Furthermore, the presence of small mining companies in developing countries continues to have an impact on the industry’s regional development. Furthermore, the absence of regulatory norms, as well as the lack of required infrastructure and the health risks associated with calcium carbonate, are potential restraints to the global high-purity limestone Market’s overall growth.

High-Purity Limestone Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the high-purity limestone market. High-purity limestone market top 10 companies include:

  1. Tarmac
  2. Lhoist Group
  3. Schaefer Kalk Gmbh & Co.
  4. Elliott Stone Company Inc.
  5. Graymont Limited
  6. Indiana Limestone Company
  7. Atlantic Minerals
  8. Sumitomo Osaka Cement Co. Ltd.
  9. The United States Lime & Minerals Inc.
  10. Minerals Technologies Inc.

Recent Developments

In April 2021, Minerals Technologies Inc. and Zhumadianshi Baiyun Paper Co. Ltd. have contracted to establish a 50,000 metric tonne per year satellite precipitated calcium carbonate plant at their paper mill in Suiping County, Zhumadian City.

In June 2020, Minerals Technologies Inc. signed an agreement with Phoenix Paper LLC to reopen a 35,000 metric tonne per year satellite precipitated calcium carbonate (PCC) plant at its Wickliffe, Kentucky, paper mill.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=508477

Key Takeaways

North America dominates the high-purity limestone market. Increasing building and construction activities coupled with increasing cement production in North America is fueling the market growth in the region.

With the rising migration of people towards urban areas, there is a strong need to build a greater number of residential houses, which will have a positive impact on the cement industry and thereby accelerate the demand for the high-purity limestone market during the forecast period.

Limestone-related products are used in the metallurgical industry to remove impurities when metals are refined from their ores. Over the forecast period, the region’s market is expected to be driven by the widespread use of metals such as steel and aluminum in industries such as construction, automotive, energy, transportation, and packaging.

During the forecast period, the presence of small mining companies in developing countries, a lack of regulatory norms, and fewer infrastructures will act as a restraint, further challenging the growth of the high-purity limestone market.

Relevant Reports

A. High-Calcium Limestone Market – Forecast (2022 – 2027)

https://www.industryarc.com/Research/High-Calcium-Limestone-Market-Research-503249

B. Metallurgical Limestone Market – Forecast (2022 – 2027)

https://www.industryarc.com/Research/Metallurgical-Limestone-Market-Research-501493

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

Tags: , , , , ,

See Campaign: https://www.industryarc.com/Research/High-Purity-Limestone-Market-Research-508477

Contact Information:

Venkat Reddy Sales Director Email: venkat@industryarc.com Website: https://www.industryarc.com Phone: (+1) 970-236-3677


Tags:
Reportedtimes, PR-Wirein, Extended Distribution, Research Newswire, English

Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *