Americas High-Purity Limestone Market is projected to account USD 1.3 billion by the end of projected period, 2025 and registering 6.9% CAGR over the forecast period from 2018 to 2025, according to Million Insights. Growing metallurgical operations is expected to drive the high-purity limestone market growth in North America.
The World Steel Association reported that, North America is one of the largest users of steel for military and national security. Energy infrastructure such as electricity, petroleum refineries, power generating plants, storage tanks, utility distribution poles, electrical power and distribution transformers, utilize steel. Moreover, in transportation industry, steel is highly used for bridges, railroads, seaports, navigation systems, and mass transit systems. Therefore, it has been observed that steel consumption from 2016 to 2017 has increased by 2,039.9 kilotons.
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The key driving factors responsible for the growth of Americas High-Purity Limestone market :
Further key findings from the report suggest:
• Among applications, construction segment is projected to account for USD 282.2 million by the end of projected year, 2025 and expected to grow with 6.6% CAGR during the forecast period from 2018 to 2025. This growth is attributed to growing investment on construction of social infrastructure.
• The water and wastewater sub-segment is projected to grow with a CAGR of more than 7.0% in terms of revenue during the forecast period.
• In 2017, metallurgical application held the largest market share of more than 44.0% in terms of revenue. Growing production & sales of automobiles in this region is driving the metal products demands, thereby anticipated to drive the Americas high-purity limestone market growth.
• By 2025, Central and South America market is expected to touch 14, 450.2 kilotons.
• North America is expected to grow with a CAGR of more than 7.0% in terms of revenue during then forecast period. Growing investment in construction sector in Mexico and Canada is expected to boost the market growth.
• Carmeuse; Graymont Limited; Lhoist; Nittetsu Mining Co., Ltd.; United States Lime & Minerals, Inc. and Minerals Technologies Inc., are key players operating in the market.
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