Thevendor landscape of the global limestone for agriculture market featuresa largely fragmented nature owing to the presence of a large number of regionaland global companies, observes Transparency Market Research in a recent report.Companies keen on strengthening their positions in the market are focusing onexpanding production capacities in emerging market such as India and China asthe rising population is putting massive pressure on the agriculture sector,which is, in turn, compelling governments to invest more energy and funds intothe improvement of agricultural production capacity. Focus on inorganic growthstrategies such as acquisitions and mergers has also increased in the recentyears.
Some of theleading companies operating in the globallimestone market for agriculture are Leiths (Scotland) Ltd., MineralsTechnologies Inc., Nordkalk Corporation, and Sibelco.
Accordingto the report, the market will exhibit a 6.1% CAGR over the period between 2017and 2025, rising from a valuation of US$321.4 mn in 2016 to a revenueopportunity of US$545.7 mn by 2025.
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PowderedLimestone Remains Most Lucrative Product Variety
In terms ofproduct type, the segment of powdered limestone presently accounts for adominant share in the overall market as limestone in powdered form is mucheasily broken down and is easily spread on the soil. This, in turn, helpinitiate the process of neutralization at a much faster pace. The segment isalso expected to benefit from its low-cost nature as compared to othervarieties.
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From ageographical standpoint, the Asia Pacific market for limestone for theagriculture industry presently dominates the global market in terms of growthpace and revenue owing to the large arable lands and the increased demand foragricultural produce in the region to sustain the mounting population. Theregion is also expected to register the maximum CAGR over the forecast periodand rise to a valuation of US$294.13 mn by 2025.
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RisingAwareness Regarding Benefits to Production Capacity of Soil to Help Market PickPace
Limestonefinds excellent usage in the agriculture industry owing to its ability oflowering down acidity in soil, which leads to the improved water penetrationfor acidic soils. Agricultural limestone also acts as an additional source ofmagnesium and calcium for plants, thus helping improve the growth of plants orcrops. Thus the use of agricultural limestone can bring a significant boost tothe profit potential of farm, while also making fertilizers much moreefficient.
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Othertypical benefits of agricultural limestone include the improved intake ofnutrients for plants, taking toxicities out of the soil, and bringing a goodbalance between the biological, physical and chemical properties of the soil.As governments across the globe focus on implementing ways of improvingagricultural production capacity, there has been a major rise in awarenessprograms across the globe. Increased awareness among farmers regarding the vastbenefits of agricultural limestone is expected to have a significant positiveimpact on the overall global uptake of limestone for the agriculture industry.
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