Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) — The “Europe Limestone Market Size, Share & Trends Analysis Report By End-use (Construction, Iron & Steel, Agriculture, Chemical), By Country, And Segment Forecasts 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The Europe limestone market size is expected to reach USD 19.42 billion by 2030, expanding at a CAGR of 4.9%
Rising investments in the building & construction industry, increasing demand for PCC and GCC from the paper industry, and high utilization of fertilizers are growth drivers for the Europe limestone market.
The construction market exhibited a positive trend in the early months of 2023. In January 2023, construction production within the Eurozone rose by 3.8% from 2022, and in the EU, it increased by 3.3%. Further, increasing demand for green construction is expected to augment the limestone demand in the region over the forecast period.
Also, limestone gives important nutrients like calcium and magnesium to the soil, which are crucial for plants to grow well. Calcium helps the roots grow, cells divide, and plants absorb nutrients. Limestone also improves the soil’s structure and makes it easier for water to go through, preventing too much water from staying in the soil and lowering the risk of certain plant diseases.
The global food crisis in the world is increasing due to rapid population growth, climate change, soil degradation, and water scarcity. According to the World Bank’s Global Report on Food Crises 2023, more than a quarter to a billion or a quarter of a billion people in 58 countries are facing acute food insecurity and require urgent food assistance. Owing to this reason, countries are investing in increasing agricultural production of their country, which requires large amounts of high-quality fertilizers. This is expected to open new opportunities for limestone manufacturers.
Ireland is one of the fastest-growing countries in the world. The IMF enlists it as the third fastest-growing country in Europe and expects its real GDP to expand by 4% in 2023. Construction is one of the vital industries in the country and is expected to grow by 2.5-3% in 2023. The majority of the limestone production in the country is catered to the farmers for agricultural lime.
Competitive rivalry is high in the market owing to the presence of several global and regional players. Nordkalk, Carmeuse, Lhoist, and Sibelco are among the leading limestone mining and processing companies in Europe. Presently, they are investing in marketing and research & development activities to remain competitive in the market.
Europe Limestone Market Report Highlights
- Based on end use, agriculture is anticipated to register a CAGR of 6.8%, in terms of revenue, from 2023 to 2030. There is significant demand for agricultural lime owing to the acidic nature of a significant portion of soil around Europe. Rising agriculture production and agri-food exports in Europe are projected to drive the demand for limestone for agriculture applications.
- Based on country, Czechia is expected to register the highest CAGR of 4.7%, in terms of revenue, during the forecast period. Government funding to improve infrastructure is anticipated to boost limestone demand in the country. For instance, as of July 2023, the European Commission approved a funding scheme for Czechia for railway siding, which includes renovations, upgrades, and construction.
- The conflict between Russia and Ukraine resulted in severe global inflation, posing significant challenges for limestone mining companies and impacting the GDP of European countries.
- In 2022, Europe witnessed a decline in construction output due to a combination of factors, including the impact of Russia’s war in Ukraine, ongoing supply chain issues, rising energy & commodity prices, and high inflationary pressures. However, the construction market exhibited a positive trend in the early months of 2023.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 76 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $13.22 Billion |
| Forecasted Market Value (USD) by 2030 | $19.42 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Europe |
Companies Mentioned
- Nordkalk
- CARMEUSE
- Graymont
- Lhoist
- Sibelco
- Ognyanovo-K
- WIG Wietersdorfer Holding GmbH
- Franzefoss Minerals
- Kalkfabrik Netstal AG
- CARRIERES DU HAINAUT
For more information about this report visit https://www.researchandmarkets.com/r/ea4ie8
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- European Limestone Market
