Updated Oct 18, 2022 14:43

Lime Market in Russia

Market Overview
For the fourth year in a row, the Russian lime market recorded decline in sales value, which decreased by -% to $ in . In general, consumption, however, continues to indicate a relatively flat trend pattern. Lime consumption peaked at $ in 2013; however, from 2014 to , consumption failed to regain momentum.

In value terms, lime production reached $ in estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 with an increase of %. Lime production peaked at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.


Consumption
Lime consumption in Russia was estimated at tons in , surging by % compared with the previous year's figure. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, consumption hit record highs at tons in ; however, from to , consumption failed to regain momentum.

The size of the lime market in Russia fell to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Lime consumption peaked at $ in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by increasing demand for lime in Russia, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of lime in Russia were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for lime. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Russia remains a net exporter of lime; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.