- Global lime market size is likely to expand at a CAGR of 2 percent from 2022 to 2027
- China to remain the biggest lime consumer in 2027, accounting for almost 60 percent of total lime consumption
- The steel industry to stay the largest lime consumer sector over the forecast period
- Slaked lime is expected to see a decline in consumption, while hydrating lime is expected to grow
Greenwich (CT), USA, March 8, 2022 – Global lime consumption is estimated to decline slightly over the next five years, primarily due to a decrease in China and Asia-Pacific consumption, according to CW Research's Global Quicklime, Slaked Lime and Hydraulic Lime Market Report 2022.
The global lime market size is likely to expand at a CAGR of 2 percent between 2022 and 2027, with metallurgy and FGD sectors expected to drive growth.
“China, the world’s largest lime producer, has reduced production levels leading to a modest increase in ex-works pricing, positively impacting the industry’s market size. Meanwhile, Asia-Pacific, including China, is expected to record a lime consumption decline of almost 8 million tons in the next 5 years,” comments Prashant Singh, Director at CW Group.
Asia-Pacific’s market size to remain the largest in 2027
China is forecast to continue to account for more than half of the global lime market size in 2027, even though its consumption is expected to see a decline at a CAGR of 1 percent between 2022 and 2027.
Asia-Pacific’s lime consumption per capita is expected to increase at an estimated CAGR of more than 1 percent over the forecast period, with India and Taiwan accounting for the largest CAGR growth.
Steel industry to remain the largest lime consuming sector in 2027
Steel is forecast to remain the largest lime consumer sector at a global level, followed by civil construction and aluminum.
These three sectors, which are estimated to account for 58 percent of lime consumption in 2022, are forecast to remain the largest consumers in 2027.
Asia-Pacific’s lime consumption growth is expected to be driven by paper and pulp, aluminum, and FGD applications.
Hydrating lime to account for a fifth of global lime consumption
While quicklime is expected to see a decline in terms of consumption, hydrating lime is expected to account for 21 percent of global lime consumption in 2027, growing at a CAGR of almost 3 percent.
Meanwhile, slaked lime consumption is forecast to decline at a CAGR of more than 2 percent by 2027.
CW Research’s Global Quicklime, Slaked Lime and Hydraulic Lime Market Report 2022 addresses important market dynamics including a 5-year historical (2017-2022E) as well as a 5-year outlook (2022E-2027F) for the global quicklime, slaked lime and hydraulic lime industry. The report provides an in-depth assessment of the global quicklime market, its size (USD million), production and consumption by lime type (mn tons), key drivers, trends, and constraints.
Buy the report here.