Increasing industrial applications of calcium oxides and its derivatives are expected to fuel the growth of lime market in Australia.
During the forecast period 2016-2024, the Australian lime market is expected to grow exponentially, registering a significant CAGR of 17.1%. Persistence Market Research (PMR) has compiled several key perceptions that are expected to impact growth of the Australian lime market in the report titled, “Lime Market: Australia Industry Analysis and Forecast, 2016–2024”.
Rising urbanisation and increasing investments in Australia’s infrastructure developments have positively influenced the demand for lime. In 2015, over 1440 thousand t of the gross lime production in Australia was consumed, and the market also witnessed higher consumption of lime products in refining processes. However, the environmental impact of rising lime production poses a major challenge for growth of the Australian lime market.
Based on the applications, the lime market in Australia is categorised into mining & metallurgy, building materials, agriculture, water treatment and others. The mining & metallurgy segment will continue to retain higher consumption and account for more than 30% volume-share by end of the forecast period. Similarly, the building materials segment is expected to be equally prominent application of lime and account for 35% of market volume in Australia’s lime market.
By product type, slaked or hydrated type of lime products will continue to dominate the market volume as well as the market value during the forecast period. By the end of 2016, the hydrated lime segment is anticipated to be valued at US$146.7 million, accounting for over 65% of market share.
The regional segmentation in Australia’s lime market exhibits substantial growth in New South Wales, deeming it Australia’s largest regional market for lime during the forecast period. New South Wales is expected to attain an estimated market value of US$59.1 million by 2016-end. Although, Western Australia will be a major contributor to the market’s total production capacity. Over 65% of the country’s total lime production will be derived from lime manufacturers based in Western Australia. Still, the region is likely to expand gradually at a low CAGR of 0.8% during the forecast period.
Lime manufacturers in APAC countries such as Thailand, Vietnam and China are lowering the raw material costs to fuel the exports in Australia’s lime production industries. Sibelco Australia, Boral Limited, Adelaide Brighton Ltd., Omya Australia Pty. Ltd, Wagners, and Lime Group Australia, among others, are recognised as some of the key players contributing to the growth of Australia’s lime market.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/18102016/australias-lime-market-to-grow-moderately-during-2016-2024/