1. Market Research
  2. > Mining and Quarrying
  3. > Mineral Market Trends
Limestone Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Limestone Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • September 2021
  • 178 pages
  • ID: 6155628
  • Format: PDF
  • Mordor Intelligence LLP


Table of Contents

Search Inside

The limestone market was valued at 780,622.95 kilo metric tons in 2020, and it is expected to register a CAGR of 3.50% during the forecast period, 2021-2026.

The COVID-19 outbreak negatively affected the economic growth in various countries. Countries such as China witnessed impacts in the first quarter of 2020, while other countries witnessed major effects from the second quarter of 2020. With the rising number of COVID-19 cases, the construction industry was immensely impacted globally due to the difficulties with material supply chain disruption, labor shortages, and city-wise shutdown of construction sites. Moreover, due to the COVID-19 outbreak, steel production also declined during 2020, as the manufacturers reduced their operations in European countries. Such factors have impacted the market for limestone in applications, such as steel production and construction.

Key Highlights
Over the medium term, increasing demand from the construction industry, along with rising steel production in the global market, is proving to be the key driver for the global market. The construction industry uses limestone for walls and floors in buildings.
On the flip side, the negative economic effects of COVID-19 and the CO2 emission factor from agricultural liming are expected to hinder the growth of the market studied.
The Asia-Pacific region is expected to dominate the market, and it is also likely to witness the highest CAGR during the forecast period.

Key Market Trends

Steel Manufacturing and Other Industries to Dominate the Market

Limestone is used as a slag former in iron and steel manufacturing. Limestone, with low silica and alumina, is preferred for use in steel manufacturing, as these elements will need additional flux to neutralize them. Furthermore, additional heat is required to keep the additional slag in a fluid state.
The two key steel production routes, namely the integrated steelmaking route and the electric arc furnace route, require around 270 kg limestone and 88 kg limestone, respectively, for manufacturing 1000 kg of crude steel.
Steel is an alloy of iron and carbon, in which the carbon content is up to 2%. Steel finds diversified applications, ranging from the fabrication of needles and usage in construction to the production of tools and oil tankers.
Steel serves as the most important alloy, finding diversified applications in numerous industries. Some of the crucial industries that use steel are building and construction, electrical equipment, household appliances, mechanical equipment, metal products automotive, and other transportation.
According to the World Steel Association, the global crude steel production decreased to 1,878 million ton in 2020, which increased very slightly compared to 1,874 million tons in 2019. Steel is used in various end-user industries such as numerous end-user industries, such as building and construction, automotive, electronics, aerospace and defense, etc.
Moreover, in the period January to July 2021, the global crude steel production reached 1,165.3 million tons (~1.17 billion tons) which increased by 12.3% compared to the same period last year.
Owing to all the abovementioned factors, the market is projected to grow in the coming years post COVID-19 recovery.

India to Drive the Asia-Pacific Market Growth

India is a growing economy and holds great potential for future market opportunities. The country witnessed a decline in its GDP growth to around 5% in 2019, from 7.1% in 2018. The stagnation caused in the industrial output, greenfield investment, and flattened demand have led to a decline in the growth rate in the country. However, according to data released by the National Statistical Office, India’s GDP contracted by 7.3 % in 2020, owing to the lockdown imposed by the Government of India to curb the COVID-19 pandemic. GDP shrank by 24.4 % in the April-June 2020 quarter, followed by a 7.4% drop in Q2. With a 0.5% increase from September to December, it returned to positive territory.
The construction industry in the country witnessed a growth of around 7.1% in 2019. For the majority of 2020, India’s construction sector was dealing with a labor shortage and raw material supply chain problems, which caused India’s construction industry to decline by 12.4% in 2020. The Union Budget 2021-2022 of India has provided a significant boost to the country’s troubled construction industry, with a budgeted capital investment of USD 75.8 billion, a 34.5% increase over last year’s budget. The construction industry is predicted to rebound by 14.5 % in 2021, with the government focusing on infrastructure to support economic growth.
The residential construction industry is going through major structural changes, with increasing construction of residential societies and high-rise building construction, rather than independent houses and bungalows. To support the UDAN scheme, the government has also planned to develop 100 more airports across the country by 2025, which is likely to further boost construction activities over the next five years.
India is the world’s second-largest producer of steel. The steel production in the country has been increasing at a rapid pace owing to the soaring demand from the automotive and infrastructure sectors in the country, along with governmental initiatives (such as the National Steel Policy), which is supporting the growth of steel production in India.
In 2020, India’s steel consumption was 88.5 million metric ton (MT). After falling 13.7 % in 2020, India’s steel demand is predicted to rise 19.8% in 2021, the highest rate among the top ten consuming countries, according to the World Steel Association (WSA).
Additionally, the production of steel in the country is expected to double by 2031, while a growth rate of about 1.8% was recorded in 2019. Such targets of the country are expected to increase the demand for limestone from the steel industry in the future.
Therefore, considering such market trends, the limestone market is likely to hold huge growth opportunities in India over the forecast period, once the country revives its operations, which have currently been affected by the COVID-19 outbreak.

Competitive Landscape

The limestone market is partially consolidated. In terms of market share, few of the major players currently dominate the market. Key players in the limestone market include Imerys, CARMEUSE, Graymont Limited, Mineral Technologies Inc., and Lhoist Group, among others.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on