Calcium Oxide Market - Forecast(2023 - 2028)

Calcium Oxide Market Overview

The Calcium Oxide Market size is projected to grow at a CAGR of 5.2% during the forecast period 2022-2027 and reach US$4.7 billion by 2027. Calcium oxide (also known as quicklime) is a chemical compound and a base anhydride that is alkaline in nature. They are primarily used in a wide range of industries including construction, mining, metallurgy, rubber and other industries. The expansion of calcium oxide is primarily driven by its usage in the metallurgy industry and is used for metal purification and desulfurization processes involved during metal production. However, a steady recovery in the metallurgy industry has been witnessed across many countries around the world since 2021, which in turn, is driving the demand for calcium oxide. For instance, according to the World Steel Association, global steel production reached up to 1,911.9 million tons in 2021, an increase of 3.6% in comparison to 2020. The surging growth of the metallurgy industry along with an increase in construction activities is expected to drive the growth of the Calcium Oxide Market size in the upcoming years. On the other hand, health hazards associated with the use of calcium oxide may confine the growth of the market.

Calcium Oxide Market Report Coverage

The "Calcium Oxide Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Calcium Oxide Market.

Key Takeaways

• Powder form held a significant share in the Calcium Oxide Market in 2021. Its wide range of characteristics, along with ease of storage and transportation made it stand out in comparison to other forms of calcium oxide available in the market.
• Metallurgy industry held the largest share in the Calcium Oxide Market in 2021, owing to the increasing demand for calcium oxide from the metallurgy sector across the world.
• Asia-Pacific dominated the Calcium Oxide Market in 2021, owing to its increasing demand from the metallurgy sector in the region. For instance, according to the World Steel Association, total steel production in Asia reached up to 1,382 million tons in 2021.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Calcium Oxide Market Report.

Figure: Calcium Oxide Market Revenue Share, By Geography, 2021 (%)

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Calcium Oxide Market Segment Analysis – by Form

The powder form held a significant Calcium Oxide Market share of over 18% in 2021, owing to the range of characteristics and benefits it offers over other forms of calcium oxide. For instance, calcium oxide in powder form has better physicochemical stability along with higher surface hardness and density in comparison to other forms of calcium oxide. This makes them ideal for use in applications involving steel manufacturing and production of construction materials which include cement and concrete blocks, plaster, bricks, mortar and more. Moreover, calcium oxide in powder form offers higher flexibility in compounding solids, longer shelf life and is easier to store and transport. Furthermore, the manufacturing of powder form is more economical and cost-effective. Hence, all of these benefits of powder form are driving its demand over other forms of calcium oxide, which in turn, is expected to boost the growth of the market during the forecast period.

Calcium Oxide Market Segment Analysis – by End-use Industry

The metallurgy industry held the largest Calcium Oxide Market share of over 25% in 2021, owing to the surging production of metals such as steel, aluminum and more across the world. For instance, according to World Steel Organization, the total steel production in North America reached 108.3 million tons in 2021, an increase of 17.8% as compared to 2020. Steel production in South America reached up to 42.1 million tons in 2021, representing a growth of 20.7% in comparison to 2020. Moreover, total steel production in Europe, the Middle East and Africa reached 141.4 million tons, 37.4 million tons and 14.7 million tons respectively in 2021. Furthermore, Emirates Global Aluminium, a leading aluminum manufacturing company based in the UAE produced around 1.09 million metric tons of aluminum in the first half of 2021, an increase from 880,000 metric tons during the first half of 2020. Calcium oxide (also known as quicklime) which is a base anhydride and alkaline in nature is primarily used in the metallurgy industry for metal purification and desulfurization processes involved during metal production, owing to their high melting point, durability, stability along with their ability to withstand high temperatures. Thus, such surging production from the metallurgy sector across the world is expected to increase the demand for calcium oxide, owing to its above-mentioned properties and usage. This is expected to expand the Calcium Oxide Market size during the forecast period.

Calcium Oxide Market Segment Analysis – by Geography

Asia-Pacific held a dominant Calcium Oxide Market share of around 42% in the year 2021. The consumption of calcium oxide is particularly high in this region due to its increasing demand from the metallurgy sector in the region. For instance, according to the Japan Iron and Steel Federation, crude steel production in Japan reached up to 96.3 million tons in 2021, an incline of 14.9% in comparison to 83.2 million tons in 2020. Furthermore, recent insights from the World Steel Association states that India produced 118.1 million tons of crude steel in 2021, an increase of 17.8% in comparison to 2020. It further states that total steel production in China and South Korea reached 1,032.8 million tons and 70.6 million tons in 2021 respectively. Furthermore, according to the Japan Aluminum Association, the total aluminum production in Japan reached 690.2 thousand tons in 2020.

In this way, such surging metal production in multiple countries across the region is expected to increase the demand for calcium oxide for use in metal purification and desulfurization processes involved during metal production along with protection of metals from corrosion and neutralization of acids utilized in the metallurgy industry. This is anticipated to propel the growth of the market during the forecast period.

Calcium Oxide Market Drivers

Growth of the metallurgy industry

Calcium oxide (also known as quicklime) which is a base anhydride and alkaline in nature is commonly used in the metallurgy industry for metal purification and desulfurization processes involved during metal production. It is used to separate impurities from metals through the flotation of different metallic salts. Moreover, calcium oxide is also used for the protection of metals from corrosion and the neutralization of acids utilized in the metallurgy industry. For instance, according to the local steel association of Argentina, Camara Argentina de Acero (CAA), the total crude steel production in Argentina reached 4,875.2 thousand tons in 2021, an increase of 13.2% in comparison to 2020. Moreover, recent insights from the World Steel Association state that the annual production volume of steel in Belgium and Spain reached 7 million tons and 14 million tons in 2021, representing an increase of 13.6% and 27.7% respectively as compared to 2020. Hence, such surging growth of the metallurgy industry is expected to increase the demand for calcium oxide, owing to their above-mentioned usage. This is anticipated to drive the growth of the market in the upcoming years.

An increase in construction activities

Construction activities are considered to be the pillar of growth for a country and also play a major role in increasing the overall global economy. The factors such as urbanization and the rapid pace of development to aid the economic growth of the countries are driving the construction activities in multiple regions across the world. For instance, according to recent insights from the World Cement, the global construction industry output increased by 5.7% in 2021. Moreover, according to Volvo CE, the construction sector saw an increase in construction activities across multiple regions since the fourth quarter of 2020. South America saw an increase of 12%, Asia by 39%, Europe by 20% and China by 28% in 2020. Furthermore, YIT Corporation commenced the construction of numerous residential apartment building projects in Finland, the CEE countries and Russia in December 2021, with total investments of around EUR 200 million (US$236.5 million). The projects are scheduled to be completed by the end of 2023. Hence, an increase in global construction activities is expected to increase the demand for calcium oxide, owing to their above-mentioned properties. This is expected to accelerate the growth of the Calcium Oxide Market in the upcoming years.

Calcium Oxide Market Challenge

Health hazards associated with the use of calcium oxide

Calcium oxide is a corrosive chemical and is considered hazardous under EU Regulation (EC) No 1272/2008 and OSHA Hazard Communication Standard (29 CFR 1910.1200). According to OSHA, the legally permissible workplace exposure limit of calcium oxide is 5mg/m3 (respirable fraction) over an 8-hour work shift. In case of inhalation, it can irritate the lungs and cause severe cough or shortness of breath. Moreover, prolonged exposure to calcium oxide may cause an excessive build-up of fluid in the lungs (pulmonary edema) which can be fatal. Furthermore, long-term exposure can result in severe irritation in the nose and also result in the formation of a hole in the bone dividing the inner nose, along with thickening and cracking of the skin. In addition to this, calcium oxide is considered to be hazardous to the aquatic environment as well and can cause long-term effects on aquatic life. Thus, such health hazards associated with the use of calcium oxide may confine the growth of the calcium oxide industry during the forecast period.

Calcium Oxide Industry Outlook

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Calcium Oxide Market. The top 10 companies in the Calcium Oxide Market are:

1. Merck KGaA
2. Carmeuse
3. Graymont
4. Lhoist
5. Mississippi Lime
6. Minerals Technologies
7. CAO Industries Sdn Bhd
8. Calchem
9. AKJ Minchem Private Limited
10. American Elements

Recent Developments

• In March 2021, Nordkalk signed a long-term collaboration agreement to take over the operations management of the world-leading steel producer ArcelorMittal’s on-site lime kilns in Eisenhüttenstadt, Germany. The limestone for the kilns will be delivered from Nordkalk’s quarries in Poland. 
• In October 2019, Graymont announced its plan to build a state-of-the-art production facility adjacent to its high-grade limestone deposit in Rexton, Michigan, that will enhance its ability to reliably meet the demand for high-quality lime and limestone 
• In August 2019, Graymont and Grupo Calidra announced the acquisition of the global lime and limestone business of the Belgium-based Sibelco group. In accordance with the terms of the purchase agreement, Graymont completed the acquisition of the five Sibelco lime plants and a number of limestone quarries on the east coast of Australia, as well as lime plants in Malaysia and the Philippines. Grupo Calidra acquired Sibelco’s lime operations in Argentina and Chile. 

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