Lime market in Finland

Earlier Report Observations

The Finnish lime market demonstrated substantial growth in value from 2021 to 2023, increasing from $126.1 million to $195.7 million. This expansion was initially driven in 2022 by the implementation of the European Union's Emissions Trading System, which set carbon prices around €88 per ton of CO₂ and raised production costs for energy-intensive lime calcination. A concurrent 50% surge in European natural gas prices further elevated operational expenses. Demand was strengthened by Finland's environmental policies emphasizing water quality and sanitation, which boosted lime consumption for wastewater treatment. Additionally, market consolidation advanced as Nordkalk Corporation, a state-influenced entity, acquired a majority stake in Juuan Dolomiittikalkki Oy, expanding its dolomitic limestone operations. Technological developments, such as VTT's electric rotary kiln for cleaner cement production, reflected industry efforts to adapt to regulatory pressures.

Growth continued into 2023, with the market reaching $195.7 million, supported by persistent regulatory demands for emission reductions, sustained use of lime in environmental applications like soil amendment and water treatment, and the ongoing expansion of Nordkalk. Global supply chain disruptions and volatile energy prices also influenced production costs and market access during this period. After peaking in 2023, the market size declined to $158.2 million in 2024.

Production lime in Finland

In kind, 2017-2020, K t

In 2020, Finland produced 428.6 K t of lime, showing only a marginal fluctuation compared to the previous year.

Annual dynamics of production in Finland in kind, 2017-2020, K t

Exports lime from Finland

Exports in kind, K t

The data reveals irregular changes, indicating a volatile market environment. Exports reached their lowest point in 2017 and peaked in 2019, with a 2.6-fold gap between these years. In 2020, foreign lime supplies from Finland totaled 91.6 K t, marking a drop of 41.9% compared to the previous year. The maximum value was recorded in 2019 at 157.6 K t, with the largest increase that year reaching 128.9%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K t

Throughout 2017–2020, two countries—Russia and Sweden—concentrated most of Finland's lime exports in kind, while other markets were less significant individually.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

There were noticeable fluctuations in market performance during the period. The lowest value was recorded in 2017, while the highest occurred in 2019, with a peak-to-trough ratio of 2.2 times. In 2020, Finland exported 13 067 K $ US of lime, which is 26.6% less compared to the previous year. The maximum value was recorded in 2019 at 17 790 K $ US, with the largest increase that year reaching 77.2%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

In 2017–2020, Russia and Sweden jointly absorbed 97.9% of total lime exports from Finland in value terms, with the remaining volume scattered across smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports lime to Finland

Imports in kind, K t

The data reveals irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2019 and peaked in 2018, with a 3.3-fold difference between these years. In 2020, Finland imported a total of 435.6 K t of lime, constituting a rise of 169.0% year-over-year. The minimum value was recorded in 2019 at 161.9 K t, while the maximum was in 2018 at 530.9 K t. The largest decline was recorded in 2019 at 69.5%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K t

In 2017–2020, France (54.6% of imports in kind), the United Kingdom (12.8% of imports in kind), and Belgium (10.3% of imports in kind) were the largest suppliers of lime to Finland, together forming 77.8% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

Foreign lime supplies to Finland declined for the second consecutive year. In 2020, imports totaled 65 772 K $ US, corresponding to a decline of 10.1% versus the previous year. Over the period 2017-2020, imports increased by 5.3%, with a CAGR of 1.7%. The maximum value was recorded in 2018 at 79 742 K $ US, with the largest increase that year reaching 27.7%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

In 2017–2020, France (65.5% of imports in value terms), the United Kingdom (12.3% of imports in value terms), and Belgium (7.4% of imports in value terms) accounted for the largest share of imports in value terms, together comprising 85.2% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020