Lime Market to Grow 3-5% Annually
26 Apr 2011 • by Natalie Aster
LONDON – Lime production increased significantly in the previous years, which was pushed by manufacturing growth in major consumption fields. Global lime production is estimated at 300 million tons annually. In 2008 China was the largest producer of lime, accounting for 60% of the overall production volume. In the developed regions like Europe, North America (the United States and Canada) and Japan, production of lime is characterized by many regional producers, each serving its regional markets. According to the forecasts, lime market will grow in short and medium-term periods. Lime production, in particular, will mostly go up in Asia (China in particular), with Europe and North America demonstrating low or flat growth rates.
In 2005-2007, an increase in lime consumption was a result of worldwide growth in the major consuming industries and the construction sector, caused mostly by demand growth in developing regions, China in particular. Still, in the United States and Europe, total consumption had been growing moderately. In 2008 demand for lime decreased notably and continued its down-the-slope movement in most world regions, except for China and India, where consumption growth only slowed down. Yet, demand is expected to gradually increase in all the regions in the near future.
There is relatively little world trade, primarily because lime is readily available in all parts of the world and transportation costs can account for a significant portion of the product value. Though, there may be some trade between countries on a regional basis where distances are not too great, such as in the European Union, or to supply lime products of quality not locally available.
On the whole, lime market is on a strong track. Analysis of all consumer segments enables to predict annual market growth of 3-5%.
More information on lime market may be found in the report Lime Market Review recently published by The Market Publishers, Ltd.
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