Los Angeles, CA -- (SBWire) -- 10/22/2021 --QY Research has added a new report in its repository titled, "North America Limestone Market Insights, Forecast to 2025" that provides reader with key features of the Limestone Market in North America. As per this report, the Limestone market in North America is likely to reach US$ 8.6 Bn by the end of 2025, which was earlier valued at US$ 6.3 Bn in 2018. The market is anticipated to exhibit a moderate CAGR of 4.6% from 2019 to 2025.
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Limestone Market – Growth Drivers
? Increasing applications of limestone in the construction sector is driving the growth of the Limestone market
? Limestone is extensively used in the production of Portland cement to improve the performance of concrete
? The metal industry has a largescale application of limestone as it is one of the important raw materials used in the production of iron and steel
Demand for Wall Cladding to Boost Growth of the Construction Material Segment
The Application segment is classified into Cement, Construction Materials, Lime, and Other. In the construction material segment, limestone tiles are used for several applications in interior and exterior walls, facades, swimming pools, gardens, pavements, and road surfaces thereby, augmenting the growth of the segment. Increasing demand for wall cladding to aesthetically enhance the look of the walls, which uses limestone is also contributing to the growth of the construction materials segment. The type segment is divided into Magnesium Limestone and High-Calcium Limestone.
Increasing Infrastructure Development in North America to Foster the Growth of the Limestone Market
The growing cement sector in North America is due to rising investment in developing, maintaining, upgrading, and construction of infrastructure. This is expected to propel the demand for limestone over the next few years. Development in the aviation sector in the U.S. and expansion of airports is leading to a high demand for cement, which is likely to foster the growth of the limestone market. The increasing production of vehicles in Mexico is leading to a high demand for steel and iron, which are produced with limestone as a raw material thereby, driving the growth of the market. The government announced projects for the construction of airports, railways, and roads in Mexico for developing infrastructure is likely to boost the growth of the limestone market.
Key Players – Keen to Engage in Expansion Activities
Some of the key players operating in the market are Graymont, LafargeHocium, Independent Limestone Company, US Aggregates, Polycor, Mitsubishi Material, Mississipi Lime Company, Atlantic Minerals Limited, IMERY, SMI, OMYA, JM Huber, and Carmeuse Group. Top players are involved in the mining and production of products related to limestone. The market players are also engaging in expansion activities such as mergers, acquisitions, and strategic alliances to gain a competitive advantage.
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North America Limestone Market to Attain a Value of US$ 8.6 Bn by the End of 2025