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Lime Stone Market size will witness a noticeable growth in forecast period due to growth of construction industry has surged lime stone market. It is used in manufacturing glass and is one of the important component in concrete. It is widely consumed in building blocks to give strength and durability to the structure. Usage of the product in cement manufacturing and other daily use goods is boosting the industry.
Cement industry will grow at a rate of over 9% up to 2024. Increasing urbanization, infrastructure and steel manufacturing will rise product demand. It is defined as a rock with high level of calcium carbonate that is broadly used in various construction application. It is even used to build road base, structural fill, drainage and erosion control. Growing infrastructure, use of goods in airport runways, malls, and parking lots has subsequently increased industry size.
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North America is expecting sustainable growth in the forecast time frame, the U.S. steel industry is major contributor in overall economic development and is one of the largest producer of iron steel industry globally. Growing steel industry will boost lime stone market. The region is hosting major steel producers of the world including U.S steels. Company was 15th largest steel producer in 2015.
Asia Pacific will witness high growth in lime stone market. India will contribute in growth of the product. With new stable government, India will have future plans for manufacturing and infrastructure sector that would boost steel industry. South Africa is well-endowed with the product. The resources available in the region is highly suitable for cement manufacturing. It is a major producer of minerals globally; this trait will propel lime stone market at a faster pace.
Europe is extensively using the rock in various application including purification waste water, removing acidic gas from flue gases and enhancing soil fertility. The region is majorly using the stone for enhancing output and removing impurities from steel. The industries that are escalating the lime stone market in the region are chemical, agricultural, civil, construction and environment protection.
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Key players of lime stone market includes Tarmac, Atlantic Minerals Ltd, Buechel Corporation, Graymont Ltd, Lhoist Group, Nittetsu Mining Co, Mitsubishi Material corporation, Grupo Calidra, LafargeHolcim Ltd and UBE Material industries. Lafarge SA merged with LafargeHolcim to expand its manufacturing and extend its export capacities. AIM acquires Glencoe Resources and Kewstoke, that provides the company sole control over the deposits of the acquired companies.
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