Chemicals
Metallurgical Limestone Market size forecast to reach $1 billion by 2025
The Global Metallurgical Limestone Market size is forecast to reach $1 billion by 2025, after growing at a CAGR of 6% during 2020-2025. Metallurgical limestone is an odorless, white, red or pink material that ranges from pebble to a granular powder. The growing uses of limestone to remove impurities like silica, phosphorus, and sulfur across various metallurgical applications likes steel manufacturing, gold processing, and mineral sand processing is driving the growth of global metallurgical limestone market size over the study period. Besides, the growth in mining activities in the emerging nations like Brazil. Argentina, China, and India is also contributing to the growth of metallurgical limestone market share worldwide during the forecast period.
Key Takeaways
- In Asia-Pacific region, China and India are the major market for the Metallurgical Limestone owing to growing manufacturing activities across the nations.
- The high investment required for mineral sand processing and presence of harmful chemical ingredients in limestone are hindering the growth of global market.
- The outbreak of COVID-19 is also hampering the growth of this market globally.
Product Type - Segment Analysis
The Calcitic Dolomite/High-Calcium Dolomite segment holds the largest share of more than 50% in the Metallurgical Limestone market and is projected to grow at a substantial rate during the forecast period due to widely used across various industry verticals include cement, chemical, and iron and steel. Furthermore, the growing demand for calcitic dolomite product from the glass and paper industry is also driving the growth of Metallurgical Limestone market over the forecast period.
Application - Segment Analysis
The iron and steel segment held the largest share of more than 25% in the global market in 2019. This is attributed to the growing uses of iron and steel in the building and construction sector worldwide. Furthermore, the growing consumption of limestone in steel production as a flux to remove phosphorus, sulfur, silica, and manganese from the molten steel is also contributing for the growth of this market during the forecast period. In addition, the use of high calcium and dolomitic as a flux in purifying steel in the electric arc furnace (EAF) and basic oxygen furnace (BOF) is likely to propell the market growth.
Geography - Segment Analysis
Among the regions, the APAC region is projected to witness the highest CAGR of around 8% in the global Metallurgical Limestone market followed by North America and Europe during the forecast period. The growing population, rise in building and construction activities, developing aviation sector, and growing metal industry across the region is driving the growth of this market in APAC region. Furthermore, the growing demand for metallurgical limestone from Australia and South East Asia due to growing production of high value products like ground calcium carbonate and white cement is also contributing for the growth of this market in APAC region.
Drivers – Metallurgical Limestone Market
- Growing use of limestone as a impurity removal during metallurgical operations likely to drive market growth
The growing focus by metal processing industry to overcome from dumping of low cost products, is expected to boost the demand for impurity removal limestone during the metallurgical operations is likely to drive market growth. A huge amount of limestone is used to remove impurities during the metallurgical operations including electric arc furnace (EAF) and basic oxygen furnace (BOF) processes in the manufacturing of ferrous (iron and steel) and non-ferrous (alumina & bauxite, magnesium, copper, zinc, and lead, among other metals. Furthermore, the growing developments in the metal industry in the emerging nations like Brazil, Argentine, China, and India, the demand for metallurgical limestone is also anticipated to experience a significant rise during the forecast period. For instance, according to National Steel Association Aco Brasil, in 2019, in Brazil, the steel production witnessed a fall of 8.2% accounting around 32.5 million MT. But, despite with the COVID-19 impact, the steel industry in Brazil, in 2020, has witnessed a growth of 5.3% increase in production to 34.2 million MT. So, the growth in steel production will contribute to the growth of this market during the forecast period owing to growing demand from construction sector. Besides, another key driver driving the demand for limestone in the global market is its increasing use for producing precipitated calcium carbonate (PCC). The growing use of PCC, specifically in the glass and paper industries, is expected to drive demand for metallurgical limestone over the forecast period.
Challenges – Metallurgical Limestone Market
- Fluctuating raw material prices
There are various internal and external factors responsible for the fluctuation of the raw materials such as geopolitical issues between countries, global trade war, foreign exchange movements, employability, labor cost, and growing population. For instance, in 2019, the trade war between the US and China has a major impact on the manufacturers, suppliers, and distributors of metal products including steel. Additionally, the imposing import duty on steel from both the US and China has fluctuated the cost of steel. Furthermore, due to the COVID-19 impact, various manufacturing sectors has shut down their operations owing to lack of workforce, disruption of supply chain networks globally, and lack of availability of raw material, act as a challenging factor for the growth of this market during the forecast period.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Metallurgical Limestone market report. In 2019, the market of Metallurgical Limestone top 10 players accounting for xx% of the share. Major players in the Metallurgical Limestone Market outlook are Carriere De Merlemont, Cemex, Graymont Limited, Lhoist Group, Longcliffe Quarry Ltd, Mineral Technology Inc, Nittetsu Mining Co.,Ltd, Nordkalk Corporation, and Omya Ag, Sibelco, among others.
Acquisitions/Technology Launches
- In 2019, Graymont Limited and Grupo Calidra both entered into an agreement to purchase the Belgium-based Sibelco group, a global lime and limestone business company. With this agreement, both the companies extend their global reach in the Asia-Pacific and South America region with their operations across the Asia-Pacific region include Australia, Malaysia, Indonesia, and the Philippines and in the South America region such as Argentina and Chile.
