USA Lime Market
USA Lime Market Size, Share & Industry Analysis, By Product Type (Quick Lime, Hydrated Lime, Others), By Application (Chemical & Industrial, Construction, Agriculture, Others), - Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
“The USA lime market is predicted to increase at a CAGR of 4.5% from 2024 to 2031, reaching a value of USD 3.8 billion by 2031.”
The Midwest region currently controls the market with a 32% share. Key growth drivers include the increasing demand from the building and steel industries, increased applications in environmental protection, and the expanding agriculture sector. However, the availability of replacements and rigorous environmental laws may restrain market expansion to some extent.
USA Lime Market Dynamics
Growing Construction Industry Drives Lime Demand
The rapidly growing building industry in the USA is a major factor boosting the need for lime. Lime is extensively utilised in the production of cement, mortar, and plaster, which are key materials in building projects.
According to the U.S. Census Bureau, construction investment in the USA reached USD 1.36 trillion in 2020, and it is expected to expand further during the forecast year. The expanding construction activities, especially in the residential and infrastructural sectors, are expected to drive the demand for lime in the USA.
Environmental Applications of Lime Gain Traction
The growing use of lime in environmental protection uses is another key trend driving the USA lime market. Lime is widely used in flue gas desulfurization (FGD) systems to lower sulfur dioxide emissions from power plants and industrial facilities.
The U.S. Environmental Protection Agency (EPA) has adopted stringent regulations to control air pollution, which has increased the adoption of FGD systems. In 2020, the U.S. power sector consumed approximately 10 million tons of lime for FGD applications, and this demand is projected to grow during the forecast period.
Availability of substitutes may hinder market growth.
The high number of substitutes, such as limestone and dolomite, may hinder the growth of the USA lime market to some extent. These substitutes offer similar properties to lime and can be used in various uses, including construction and agriculture. The lower cost of these substitutes compared to lime may lead to their increased adoption, especially in price-sensitive industries. However, the superior quality and versatility of lime are expected to keep its dominant position in the market.
Segment Overview
Quick Lime Dominates the USA Lime Market
The quick lime segment currently holds the largest share in the USA lime market. Quick lime, also known as calcium oxide, is widely used in the steel business for purification and as a flux agent. In 2020, the USA produced approximately 17 million metric tons of raw steel, consuming a large amount of quick lime. The rising demand for steel in various end-use industries, such as construction, automotive, and manufacturing, is expected to drive the growth of the quick lime segment during the forecast period.
Recent events in the quick lime segment include the acquisition of Mississippi Lime Company by Lhoist North America in 2021. The acquisition aims to strengthen Lhoist's presence in the USA lime market and grow its product portfolio. Additionally, in 2020, Graymont Limited announced plans to spend USD 450 million in the expansion of its lime production facilities in the USA, with a focus on meeting the growing demand from the steel and construction industries.
Regional Outlook
Midwest Region Dominates the USA Lime Market
The Midwest region, comprising states such as Illinois, Indiana, and Ohio, currently holds the largest share in the USA lime market. The region's dominance can be attributed to the presence of a large number of steel mills, which are big consumers of lime. According to the American Iron and Steel Institute, the Midwest area accounted for approximately 40% of the total raw steel production in the USA in 2020.
In 2021, Carmeuse, a major lime producer, announced the expansion of its lime production facility in Black River, Michigan. The expansion project, valued at USD 150 million, aims to increase the plant's production capacity by 30% to meet the growing demand from the steel and construction industries in the area. The Midwest region made for 32% of the USA lime market in 2020, with a value of USD 960 million.
In 2020, the U.S. Geological Survey (USGS) stated that the USA was the world's second-largest producer of lime, with a production volume of 18 million metric tons. The country's lime production is concentrated in states such as Texas, Alabama, and Missouri, which have abundant limestone reserves and a strong presence of end-use businesses.
Competitive Intelligence
The USA lime market is moderately consolidated, with a few key players accounting for a large market share. Leading players in the market include Carmeuse, Lhoist North America, Graymont Limited, Mississippi Lime Company, and United States Lime & Minerals, Inc. These businesses are focusing on capacity expansions, mergers and acquisitions, and product innovations to strengthen their market position.
In 2021, Carmeuse purchased Lhoist's lime and limestone business in the USA, which includes three production facilities in Alabama and Tennessee. The acquisition aims to enhance Carmeuse's presence in the Southeast region and grow its customer base. Graymont Limited, another key player, has been investing in the modernization and growth of its lime production facilities across the USA to improve efficiency and meet the growing demand.
The market is expected to witness the entry of new players and increased competition during the forecast period, driven by the growing demand for lime in various end-use industries and the potential for regional growth.
Analyst Opinion
The USA lime market is expected to experience steady growth in the coming years, driven by the increasing demand from the construction, steel, and environmental protection sectors. The market is characterized by the presence of established players with strong production capabilities and vast distribution networks. However, the growing focus on sustainability and the adoption of green technologies may create new growth opportunities for market players.
The building industry's recovery from the COVID-19 pandemic and the government's investments in infrastructure development are expected to drive the demand for lime in the USA. Additionally, the rising emphasis on reducing air pollution and the stringent regulations imposed by the EPA are expected to boost the demand for lime in environmental applications.
Market players should focus on expanding their production capacities, strengthening their supply lines, and investing in research and development to launch innovative and sustainable lime products. Collaborations with end-use industries and strategic partnerships with distributors can help companies enhance their market position and capture new growth possibilities.
Overall, the USA lime market presents a stable growth outlook, with opportunities for market players to capitalise on the growing demand from various end-use industries. Companies that can adapt to the changing market dynamics and offer high-quality, sustainable lime products will be well-positioned to win in this market.
Major Players
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Carmeuse
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Lhoist North America
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Graymont Limited
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Mississippi Lime Company
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United States Lime & Minerals, Inc.
Key Developments
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In February 2021, Carmeuse purchased Lhoist's lime and limestone business in the USA, which includes three production facilities in Alabama and Tennessee.
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In November 2020, Graymont Limited announced plans to spend USD 450 million in the expansion of its lime production facilities in the USA, with a focus on meeting the growing demand from the steel and construction industries.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)*
5. COMPANY PROFILES
5.1. Carmeuse
5.2. Lhoist North America
5.3. Graymont Limited
5.4. Mississippi Lime Company
5.5. United States Lime & Minerals, Inc.
5.6. (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Growing Construction Industry Drives Lime Demand
6.1.2. Environmental Applications of Lime Gain Traction
6.1.3. Increasing Focus on Sustainable Lime Production
6.2. Market Drivers
6.2.1. Expanding Steel Industry Boosts Lime Consumption
6.2.2. Stringent Environmental Regulations Promote Lime Usage
6.2.3. Growing Agricultural Sector Supports Lime Demand
6.3. Market Restraints
6.3.1. Availability of Substitutes May Hinder Market Growth
6.3.2. Fluctuating Raw Material Prices Impact Profitability
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY PRODUCT TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Quick Lime
7.2. Hydrated Lime
7.3. Others
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Chemical & Industrial
8.2. Construction
8.3. Agriculture
8.4. Others
By Product Type:
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Quick Lime
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Hydrated Lime
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Others
By Application:
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Chemical & Industrial
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Construction
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Agriculture
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Others
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