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Australia Lime Market Segmented By Aglime, Quicklime, Hydrated Lime Product Type Used in Agriculture, Metallurgy, Building Material, Water Treatment
Progress of the construction industry has been assisting the growth of lime market in Australia. Heavy consumption of lime by mining industry remains another strong factor driving demand for lime across Australian market.
A new Persistence Market Research (PMR) study says that rapid development of high-quality yet affordable manufacturing techniques will lead to a turning point for market growth in the near future. Sustained use of dry kilns for production of limestone and increasing sales of these products New South Wales and Victoria will significantly bolster lime sales in Australia.
Furthermore, recent developments in Australia’s mining industry and continuous enhancements in terms of mining production are expected to propel the demand for lime in the market over the period of forecast (2019-2029). Boral Limited, a leading multinational manufacturer and supplier in the building and construction materials space, got an approval for the modification of its Austen quarry in 2018.
This modification included an increment of 0.4 mtpa in volume limit which hints at how manufacturers are looking forward to increasing production capabilities and expediting their mining excavation activities.
In terms of value, the mining and metallurgy segment is projected to hold a significant share in the market and grow with a CAGR of 1.7% over the forecast years. By product type, hydrated lime is expected to hold a considerable share in Australia’s lime market whereas, quicklime is anticipated to explore robust growth opportunities in the market. Market players are focusing on voluminous production of limestone which is turning out to be a significant growth driver for market.
The construction industry in Australia has maintained a substantial growth rate over the last few years, especially in New South Wales and Victoria regions. This growth has played a decisive role in the increment of sales of limestone for the construction industry.
Furthermore, rapid rate of urbanization, increased need for better infrastructure, and growing construction projects in commercial and manufacturing sectors are also expected to propel the growth of the Australia lime market in the period of forecast. Also, the government is increasingly investing in the development of public infrastructure such as railway stations.
The enhancement of airport infrastructure in the region is also creating significant growth opportunities for the Australia lime market.
The mining industry in Australia is one of the most established and productive mining industries across the globe. Due to several ongoing excavation activities and numerous ore reserves in Australia, the mining industry is expected to witness substantial increment, which in turn, will positively influence growth of Australia’s lime market.
According to the data released by International Organizing Committee for the World Mining Congresses, Australia’s mining industry contributes ~8.5% to the country’s GDP and has employed nearly 2% of the overall workforce in the country.
The industry also plays a crucial role in maintaining Australia’s exports targets. According to the export data, the mining industry in the country contributes ~50% of all Australian exports, and helps to keep a check on the fiscal deficit in Australia. The requirement of lime in the mining industry and the positive growth prospects for the industry are expected to bolster the sales of lime in the Australia market.
The lime market in Australia is highly consolidated with the top 3 players in the market accounting for nearly 70% of the market share. The top 3 companies in the market account for a hefty share in the Australia lime market and have operations in nearly eight different manufacturing plants.
These together constitute capacity of nearly 1570 Kilotons of limestone production in the market of Australia. The key manufactures active in the region are Adelaide Brighton Limited, Boral Limited, and Sibelco.
A thorough analysis of the Australia lime market has helped us reach the conclusion that the market is expected to witness steady growth with New South Wales and Victoria regions developing into lucrative markets for lime, owing to the growth in several end-use application sectors.
Applications such as mining and metallurgy and building materials are anticipated to ensure robust sales and a broader customer base for the Australia lime market on the back of the growth prospects and emergence of new market players in established industries.
PMR’s study on the Australia lime market is divided into three significant segments by product type, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.