According to CW Research's update of the Global Quicklime, Slaked Lime, and Hydraulic Lime Market Report, the world lime market is expected to reach over US$30 billion by 2023.
Between 2018 and 2023, the global lime market is expected to produce over 380 million t, with China accounting for over half of that total as China tops the list of lime-consuming markets, boosting a three-digit consumption figure.
“The nation-wide scale back of industrial capacity extended to the lime industry in China. Moreover, lime-intensive industries in the country are trying to align themselves with the lime usage ratios of Western industries”, said Raluca Cercel, Associate with CW Research.
According to CW Research, all of lime end-user segments, such as steel, civil construction, aluminium, FGD, agriculture, road construction, paper and pulp, sugar cane, metallurgy and ore, and oil, will expand over the next five years, diverging according to the region.