The global lime market size is expected to showcase significant growth by reaching USD 49.11 billion by 2027 while exhibiting a CAGR of 2.3% between 2020 and 2027. The increasing demand for lime for several chemical applications in the chemical industry and the stringent legal framework for treating wastewater is attributed to the growth. Fortune Business Insights, in its latest report, titled, “Lime Market Size, Share & Industry Analysis, By Type (Quick Lime, and Hydrated Lime), Application (Agriculture, Building Material, Mining & Metallurgy, Water Treatment, and Others), and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 41.84 billion in 2019.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Stringent Environmental Protection Regulation to Promote Growth
According to the World Health Organization (WHO),about half of the total world population is likely to be residing in water-stressed areas by 2025. The growing incidence of contamination due to industrial waste effluents is leading to the transmission of several diseases such as cholera, diarrhea, typhoid, and others. Therefore, to reduce the impact of wastewater, government agencies have implemented stringent regulations to improve drinking water standards. This has led to the growing adoption of hydrated lime that aids in changing the acidity of wastewater and removes toxins such as nitrogen and phosphorus. Additionally, the surging demand for quicklime to manufacture vital chemicals such as sodium alkali, cyanamide, glycol, and others is expected to boost the global lime market growth in the forthcoming years.
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