Technavios global limestone for agriculture market research report forecasts the market to grow at a CAGR of around 6% during the forecast period.
The use of variable rate technology will be one of the major trends in the global limestone for agriculture market during 2019-2023. Variable rate technology (VRT) permits the rate of application to be changed in real time. The knowledge about the higher acidity in certain sections of the soil can assist in the variable application of lime as the soil acidity can vary within a field. The sampling and testing of the soil in laboratories are required for the information on concentration. For obtaining the information on the pH of various sections of the field, grid sampling is done from the various sectors of the field.
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According to Technavio analysts, one of the key drivers for the global limestone for agriculture market is the increasing need to balance soil pH:
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Global limestone for agriculture market: Increasing need to balance soil pH
In agriculture, the soil pH between 6 and 7 is ideal for the growth of most of the fruits and vegetables. This pH can get reduced over time because of the application of nitrogen fertilizers and manures that increase the acidity in the soil. The nitrogen fertilizers and manures form ammonia, which can undergo oxidation because of atmospheric conditions to form nitric acid. Acid accumulation in the soil can lead to lower soil pH.
According to a senior analyst at Technavio for research on agricultural equipment, The soil pH can be reduced owing to various natural processes as well. Plants are naturally alkaline, and the removal of plants because of harvesting or grazing over time can result in the soil becoming acidic. The major crops that are responsible for the soil becoming acidic include alfalfa and leguminous crops.
Global limestone for agriculture market: Segmentation analysis
This global limestone for agriculture market analysis report provides market segmentation by material (calcitic and dolomitic) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major segments by material, the calcitic segment held the largest limestone for agriculture market share in 2018, contributing to more than 73% of the market. This segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for around 42% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Five Forces Analysis
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