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High-Calcium Limestone Market Overview
The High-Calcium Limestone Market is forecast to reach US$2.6 billion by 2027, after growing at a CAGR of 4 % during the forecast period 2022-2027. Generally, Limestone refers to a type of rock that mainly consists of calcium carbonate, and is also known as carbonate sedimentary rocks. Similarly, high-calcium limestone refers to the type of rocks that are composed of 95% or more of calcium carbonate. High-Calcium Limestone is used in a wide range of applications such as, fertilizers, cement, steel, concrete aggregate, waste-water treatment and many more. An increase in agricultural, construction and production activities can act as major drivers for the market. Strict rules and regulations regarding the negative effects of high-calcium limestone mining on the environment can also act as a major constraint for the market.
COVID-19 Impact
There is no doubt that the COVID-19 lockdown has significantly reduced construction, and production activities which in turn, has resulted in country-wise shutdown of construction sites, shortage of labor, and the decline of supply and demand chain all over the world, thus, affecting the market. Studies show that the outbreak of COVID-19 sharply declined the cement production in 2020 due to lack of operations across multiple countries around the world. However, a slow recovery in new development and construction contracts has been witnessed across many countries around the world since 2021. For instance, The Iron Bridge Magnetite project that is expected to deliver 22mtpa of high-grade 67 percent Fe magnetite concentrate product is currently undergoing development. The overall cost of the project is expected to reach around £1.96 billion (US$2.35 billion) Mota-Engil. In this way, a slow and steady increase in development, construction, and production activities will require the use of high-calcium limestones for construction materials like cement, steel, concrete, and others. This will eventually lead to an increase in demand for high-calcium limestones which indicates a slow and steady recovery of the market in the upcoming years.
High-Calcium Limestone Market Segment Analysis – By Type
The Light Calcium Carbonate held the largest share in the High-Calcium Limestone Market in 2021 and is expected to grow at a CAGR of 4.2 % between 2021 and 2026. The major advantages of light calcium carbonate over heavy calcium carbonate is that it has higher purity, better fineness, and a good dispersion rate which makes it more ideal for the production of limestones. For instance, the manufacturing of light calcium carbonate has been increasing in India since 2021. Recent studies show that the demand for this product is continuously increasing per annum. As the demand for industrial production in the construction sectors across the country is expected to grow at a rate of around 10% per annum, the demand for light calcium carbonate is also expected to rise significantly, which can help boost the market growth.
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High-Calcium Limestone Market Segment Analysis – By Application
The Cement production held the largest share in the High-Calcium Limestone Market in 2021 and is expected to grow at a CAGR of 4.3 % between 2022 and 2027. For instance, the Chinese government announced to invest US$ 120 billion in the construction of railway projects in 2019. Since then, China has seen significant growth in the construction of rail and road infrastructure. According to Volvo CE, the construction sector saw an increase in the production and manufacturing of construction materials across multiple regions since the fourth quarter of 2020. South America saw an increase of 12%, Asia by 39%, Europe by 20% and China by 28% in 2020. All of these factors increased the demand for cement production across the globe. This, in turn, increased the demand for the use High-Calcium Limestone in cement production, thus, leading to the growth of the market in the upcoming years.
Furthermore, the use of limestone in wastewater treatment plants have significantly helped in neutralizing the acid wastewater, controlling the PH of the water, reducing the concentration of organic pollutants, and dissolved pollutants, along with the clarification of the water. Apart from this, High-Calcium Limestone have also been used in a wide range of applications such as the production of fertilizers, steel, concrete aggregate, and many more.
High-Calcium Limestone Market Segment Analysis – By Geography
The Asia Pacific held the largest share in the High-Calcium Limestone Market in 2021 up to 30%. For instance, the FIFA World Cup that is to be held in 2022 in Qatar is expected to generate the huge potential for construction materials used in the country. A company called Larsen and Toubro signed a contract worth US$360 million along with its joint venture partner in Qatar, in order to build a 40,000 seater stadium. This project required the use of construction materials like cement, steel, concrete, and other raw materials in order to build such a huge stadium. Likewise, other countries such as Kuwait, Morocco, and Iran are also estimated to have higher growth in the construction sector during the forecast period. All of the above factors will directly result in an increase in demand for high-calcium limestone required for the production of these raw materials in these regions, thus, boosting the market growth.
Furthermore, the use of High-Calcium Limestone in wastewater treatment and recycling industry in India is also witnessing significant growth due to an increase in water shortage across the country. The total water treatment capacity of India is around 22,960 million liters per day while the required capacity stands around 61,754 million liters per day. In this way, an increase in demand of cement for construction activities along with an increasing demand for wastewater treatment in these regions would increase the requirement of the use of High-Calcium Limestone for these activities, thus, increasing the market growth.
High-Calcium Limestone Market Drivers
An increase in construction and production activities in the Asia-Pacific region is most likely to increase demand for the product
Construction and production activities are considered to be the pillar of growth for a country and also play a major role in increasing the overall global economy. According to recent studies, Asia-Pacific is expected to be the largest market for high-calcium limestone in the construction and manufacturing sector. Since 2019, countries like China and India have come up with multiple construction projects. In 2020, China came up with a new infrastructure plan targeting to develop the metal industry. Similarly, China Coal Mine Construction Group Corporation (CCMC) recently obtained the proposal for the South Asia Sub-regional Economic Cooperation Mugling-Pokhara Highway Improvement Project in Nepal in April, 2021. This contract is valued at around ¥450 million (US$ 4.1 million). In this way, an increase in construction and development activities will most likely increase the demand for raw materials such as cement, steel, concrete aggregate, and other construction materials. Since high-calcium limestone is widely used for the production of these construction materials due to its properties like longer durability, higher thermal resistance, high strength, and better resistance to corrosion, this can lead to significant growth in High-Calcium Limestone Market in the upcoming years.
An increase in agricultural activities in the Asia-Pacific region is most likely to increase demand for the product
High-Calcium Limestone is primarily used in agricultural fertilizers for raising the PH of the acid soil, along with reducing the concentration of Aluminum in soil solution. A high concentration of Aluminum could otherwise, prove harmful for the roots of many plants thus leading to poor growth of crops. Recent insights from “Statistics Times” show that China is the leading contributor to the agricultural economy with 19.49% of the total global agricultural output, followed by India with 7.39%. An increase in agricultural activities and production also increases the use of fertilizers, thus, resulting in the growth of the High-Calcium Limestone Market in the upcoming years.
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High-Calcium Limestone Market Challenges
Strict environmental regulations can cause an obstruction to the market growth
Strict rules and regulations regarding the negative effects of high-calcium limestone mining on the environment can act as a major constraint for the market. High-Calcium Limestone cannot be extracted without mining activities that can cause major environmental impacts. For example, high-calcium limestone mining activities can generate a lot of noise, vibrations, erosions, and dust that can cause environmental pollution. In this regard, The Environment Protection Rules states that the central government of a country is authorized to conduct a thorough search on any building and confiscate any equipment, industrial plant, or documents, in order to analyze samples of water, air, soil, or other substances from any mine to control emissions related to mining industries. However, new environmental-friendly limestone mining methods are being employed in order to reduce the negative effects of High-Calcium Limestone mining on the environment.
High-Calcium Limestone Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the High-Calcium Limestone Market. High-Calcium Limestone Market top 10 companies include:
Acquisitions/Technology Launches
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Key Takeaways
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