Limestone Flux And Limestone Market

The global limestone flux and limestone market is forecasted to increase in both consumption and value terms from 2022 to 2030. Key consuming countries such as China, the United States, and India, along with production trends and import and export patterns, are analyzed in this report. Price fluctuations and per capita consumption rates are also discussed, providing a comprehensive overview of the market dynamics.

Market Forecast

Driven by rising demand for limestone flux and limestone worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1,945M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $383.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Limestone Flux, Limestone And Calcareous Stone

Global limestone flux and limestone consumption reduced slightly to 1,718M tons in 2022, which is down by -2.1% compared with 2021. Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the consumption volume increased by 9.8% against the previous year. Over the period under review, global consumption hit record highs at 1,785M tons in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

The global limestone flux and limestone market size dropped to $284.4B in 2022, waning by -1.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $383.6B. From 2016 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (275M tons), the United States (155M tons) and India (112M tons), with a combined 32% share of global consumption. Spain, Russia, Turkey, Brazil, Bangladesh, Pakistan, Japan, Indonesia, Nigeria and Mexico lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Spain (with a CAGR of +18.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($49.7B), Bangladesh ($31.1B) and Mexico ($15.8B) were the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. Nigeria, Indonesia, China, Pakistan, India, Brazil, Russia, Turkey, Spain and Japan lagged somewhat behind, together comprising a further 13%.

Among the main consuming countries, Spain, with a CAGR of +15.3%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of limestone flux and limestone per capita consumption was registered in Spain (1,866 kg per person), followed by Turkey (739 kg per person), Russia (469 kg per person) and the United States (463 kg per person), while the world average per capita consumption of limestone flux and limestone was estimated at 217 kg per person.

From 2012 to 2022, the average annual rate of growth in terms of the limestone flux and limestone per capita consumption in Spain totaled +18.2%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Turkey (+0.2% per year) and Russia (+1.6% per year).

Production

World Production of Limestone Flux, Limestone And Calcareous Stone

In 2022, global limestone flux and limestone production fell modestly to 1,713M tons, approximately mirroring the year before. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 9.4%. Global production peaked at 1,780M tons in 2013; however, from 2014 to 2022, production remained at a lower figure.

In value terms, limestone flux and limestone production shrank modestly to $271.9B in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 5.5%. As a result, production reached the peak level of $303.5B. From 2014 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (275M tons), the United States (154M tons) and Spain (90M tons), together accounting for 30% of global production.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +18.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Limestone Flux, Limestone And Calcareous Stone

In 2022, approx. 64M tons of limestone flux, limestone and calcareous stone were imported worldwide; dropping by -2% on 2021 figures. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 34%. As a result, imports attained the peak of 65M tons, and then contracted in the following year.

In value terms, limestone flux and limestone imports expanded remarkably to $1.4B in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

India was the key importer of limestone flux, limestone and calcareous stone in the world, with the volume of imports reaching 28M tons, which was approx. 44% of total imports in 2022. It was distantly followed by Bangladesh (12M tons), Taiwan (Chinese) (5.6M tons) and Germany (3.1M tons), together generating a 32% share of total imports. South Korea (2.4M tons), Madagascar (1.1M tons) and Kuwait (1.1M tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to limestone flux and limestone imports into India stood at +11.5%. At the same time, Bangladesh (+18.0%), Madagascar (+12.2%), Taiwan (Chinese) (+7.3%), Germany (+5.0%) and South Korea (+4.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in the world, with a CAGR of +18.0% from 2012-2022. By contrast, Kuwait (-4.8%) illustrated a downward trend over the same period. India (+11 p.p.), Bangladesh (+11 p.p.) and Kuwait (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while Germany and South Korea saw its share reduced by -1.7% and -1.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($684M) constitutes the largest market for imported limestone flux, limestone and calcareous stone worldwide, comprising 49% of global imports. The second position in the ranking was taken by Bangladesh ($165M), with a 12% share of global imports. It was followed by Taiwan (Chinese), with a 6.3% share.

In India, limestone flux and limestone imports increased at an average annual rate of +11.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+15.9% per year) and Taiwan (Chinese) (+5.1% per year).

Import Prices By Country

The average limestone flux and limestone import price stood at $22 per ton in 2022, growing by 12% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 15%. Over the period under review, average import prices reached the maximum at $23 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($24 per ton), while Germany ($13 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+3.8%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Limestone Flux, Limestone And Calcareous Stone

In 2022, shipments abroad of limestone flux, limestone and calcareous stone increased by 18% to 58M tons, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, limestone flux and limestone exports declined slightly to $912M in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 44% against the previous year. As a result, the exports attained the peak of $1.1B. From 2019 to 2022, the growth of the global exports failed to regain momentum.

Exports By Country

The United Arab Emirates prevails in exports structure, recording 37M tons, which was approx. 64% of total exports in 2022. It was distantly followed by Japan (4.3M tons) and Oman (2.8M tons), together creating a 12% share of total exports. India (1.9M tons), Spain (1.7M tons), Canada (1.4M tons), Poland (1.2M tons), Malaysia (1.1M tons), Kazakhstan (0.9M tons) and Belgium (0.9M tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to limestone flux and limestone exports from the United Arab Emirates stood at +17.8%. At the same time, Spain (+42.7%), Oman (+37.5%), Poland (+11.3%) and Belgium (+1.1%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +42.7% from 2012-2022. Malaysia, Canada and Japan experienced a relatively flat trend pattern. By contrast, India (-1.6%) and Kazakhstan (-3.9%) illustrated a downward trend over the same period. The United Arab Emirates (+35 p.p.), Oman (+4.4 p.p.) and Spain (+2.8 p.p.) significantly strengthened its position in terms of the global exports, while Belgium, Malaysia, Canada, Kazakhstan, India and Japan saw its share reduced by -1.6%, -2.5%, -3.5%, -3.6%, -5.5% and -11.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($535M) remains the largest limestone flux and limestone supplier worldwide, comprising 59% of global exports. The second position in the ranking was held by Japan ($55M), with a 6% share of global exports. It was followed by Malaysia, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +12.7%. In the other countries, the average annual rates were as follows: Japan (+0.9% per year) and Malaysia (+3.9% per year).

Export Prices By Country

The average limestone flux and limestone export price stood at $16 per ton in 2022, with a decrease of -17.9% against the previous year. Overall, the export price saw a mild setback. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. As a result, the export price reached the peak level of $19 per ton, and then shrank significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($41 per ton), while Kazakhstan ($5.4 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform