Limestone Market Growth On The Basis Of Type, Application, Region & Forecast To 2030Posted by Mrudula Anil Karmarkar on September 11th, 2023 San Francisco, 11 September 2023: The ReportLimestone Market Size, Share & Trends Analysis Report By End-use (Building & Construction, Iron & Steel, Agriculture, Chemical), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2023 - 2030 The global limestone market size is anticipated to reach USD 126.75 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.3% from 2023 to 2030. Rising infrastructural developments in the developing economies of the world are expected to fuel market growth across the forecast period. Limestone is a sedimentary rock and is rich in calcium carbonate. It has varying amounts of silica, clay, silt, and sand. The rock is known to be used for ample applications across various end-use industries, where building and construction are its major end-user owing to the easy availability of the material and the strength it provides. It finds application as a building material, in cement production, and as aggregates for road base. Its abundance in nature makes it a preferable option in the construction sector where it is used as blocks, stone cladding on walls, floor paving, tiles, and retaining walls. Characteristics of the mineral include weather-resistant, high strength, the durability of the structure, high structural integrity, versatility, heat conductor, and low cost. The mineral is gaining preference in countries with the presence of historic structures in terms of restoration. For example, in November 2023, the Public Works Department in Chennai, Tamil Nadu, India, introduced a stone roller yard for grinding sand and limestone for plastering, in an attempt to revive a traditional method of restoring heritage structures. Accelerating demand for limestone witnessed a decline in 2020 on account of the outbreak of the covid-19 pandemic across the world. The pandemic compelled governments worldwide to impose lockdown and halt all sorts of activities, which drastically impacted the demand for limestone. The countries are striving to slowly regain their stability by offering ease in restrictions. North America is a hard hit region by pandemic as a large number of cases have been reported in the countries, especially the U.S. However, governments in the region have made an attempt to permit operations, such as construction and manufacturing, to operate at minimal capacity. The resumption in construction activities is anticipated to balance the decline in limestone consumption owing to the spread of coronavirus. For example, in July 2020, a Euro 183 million (USD 209.4 million) contract was granted by the Canadian Province of Alberta’s Ministry of Transportation to the consortium of Vinci and Graham for building the final section of the West Calgary Ring Road Project. Such initiatives are anticipated to prove fruitful for market growth. The global market is characterized by the presence of established players, which makes competitive rivalry extremely high. Many players are integrated across the value chain in order to gain a competitive edge by benefitting form an integrated supply chain. For instance, LafargeHolcin owns limestone quarries in different parts of the world and utilizes the quarried stone in cement, concrete, and aggregates production. In addition, the company is engaged in providing construction solutions. In May 2020, the company resumed its operations at a limestone mine in Meghalaya's East Khasi Hills, India in order to supply the raw material to its cement plant in Bangladesh. Request sample report of Limestone Market@https://www.grandviewresearch.com/industry-analysis/limestone-market/request/rs1 Limestone is used in cement, wall cladding and decoration purposes in construction industry. Increasing investments in construction and infrastructural activities are projected to boost the demand of limestone in the U.S. For instance, in June 2022 Ferrero invested USD 21.4 billion for the construction at Bloomington plant in the U.S. the company is expanding its plant to increase the production capacities at their facility. Such constructions are expected to support the demand of limestone in the region. Limestone Market Report Highlights
Growing investments in water treatment and purification activities are projected to provide push to the demand of limestone in coming years. In water treatment, limestone is added to soften the water by removing magnesium and calcium ions. The U.S. is known for the widespread presence of limestone quarries, which makes it self-sufficient and less import reliant. Limestone Market Report Scope
List of Key Players of Limestone Market
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