Market Size of Calcium Oxide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.86 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Calcium Oxide Market Analysis
The Calcium Oxide Market size is expected to grow from 51.89 million metric tons in 2023 to 65.78 million metric tons by 2028, at a CAGR of 4.86% during the forecast period (2023-2028).
The studied market was negatively impacted by the outbreak of COVID-19 in the year 2020. However, in 2021 and 2022, the market showed signs of recovery.
- Demand from the steel industry is empowering the demand for lime in the market. Emerging use for lime in electric arc furnaces, AOD converters, and refining ladles is driving the demand for calcium oxide in steel-making. Steel-making uses it as a purifying agent to eliminate impurities and remove sulfur and phosphorus.
- Calcium Oxide includes a hazardous impact on health. It reacts vigorously with water, leading to severe irritation when inhaled or in contact with the skin and eyes. Moreover, in extreme cases, quicklime exposure can cause abdominal pain, vomiting, and nausea. When reacted with water, it can release enough heat to ignite combustible materials. Hence, their production needs to be carefully observed and conform to various environmental regulations, which may act as a restraining factor in the market.
- Growing demand for the biofuel industry is expected to provide an opportunity for the market for calcium oxide. It is expected to impact the increase in the usage of calcium oxide as a solid heterogeneous catalyst for the preparation of biodiesel from palm oil.
