Bangladesh QuickLime Market size is projected to grow at a CAGR of 4.7% during 2022E-2028

Quicklime attained the largest revenue share in the Bangladesh Quicklime Market – 6Wresearch

Quicklime garnered the majority revenue share in Bangladesh Quicklime market on the back of rising construction sector and rising demand for steel in the country. Quicklime is required for better soil fertility and productivity which would augment the demand of Quicklime in the forthcoming period. The Quicklime Market in Bangladesh is attaining a huge growth since the demand for Quicklime in the country is growing and it will rise more during the forecast period. the government of Bangladesh signed a $100 million financing agreement in 2019 with the World Bank to ensure improved water supply, sanitation, and drainage system in selected 30 municipalities, benefiting about 600,000 people which backed the demand for Quicklime in water treatment plants. The demand for Quicklime will continue to evolve in the country.

According to 6Wresearch, Bangladesh QuickLime Market size is projected to grow at a CAGR of 4.7% during 2022E-2028. Ground dominated the Bangladesh Quicklime market in 2021, owing to rising steel consumption in the country, which increased by 15 to 20% in 2021. Furthermore, demand for steel is expected to increase from 7 million tonnes to 18 million tonnes by 2030, accompanied by increased investment in the construction sector. For instance, an investment of approximately $11.5 billion in the housing sector of Dhaka, Chattogram, and nearby divisions would augment the segment's growth in the coming period. The market will reach new heights of success in the coming years as it is propelling smoothly in the recent years.

According to Ravi Bhandari, Research Head, 6Wresearch, Steel manufacturing dominated the Bangladesh Quicklime market owing to its large-scale usage for infrastructure development projects and increasing demand from construction sector. The steel segment will continuing grow in the sector owing to its growing demand in the country.

“The Bangladesh Quicklime Market (2022-2028)” report provides an in-depth analysis with 23 figures and 6 tables, covered in 67 pages. The report on Quick Lime Market in Bangladesh comprehensively covers the industry by types, products and applications. The report provides a detailed as well as unbiased analysis of the on-going growth drivers, opportunities/high growth areas, and trends of the market which are anticipated support the stakeholders to align and devise their market strategies according to the latest and future market dynamics.