The lime market in Australia is expected to expand at a CAGR of 1.7% in terms of value over the forecast period, 2016–2024.
New York, NY -- (SBWIRE) -- 07/21/2017 -- The market has been segmented by product type and application. The application segmentation consists of mining & metallurgy, building materials, agriculture, water treatment and others of which the mining & metallurgy segment is expected to account for the highest share of the lime market in Australia throughout the forecast period, to account for 31.4% by 2024.
Demand for energy-efficient and cost-effective solutions is expected to be a priority for lime manufacturers in the country over the forecast period. By product type, slaked/hydrated lime segment is expected to continue to dominate the market in terms of both value and volume throughout the forecast period. The segment is estimated to be valued at US$ 146.7 Mn and account for volume share of 68% in 2016. By application, mining & metallurgy and building materials, segments in the Australia lime market are expected to account for significant volume shares of 38% and 35%, respectively.
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New South Wales is expected to be the largest market for lime in Australia throughout the forecast period. The market in the region is estimated to be valued at US$ 59.1 Mn by 2016 end. In terms of production, Western Australia is expected to be a major producer, contributing over 65% to the total lime production in the country, and is expected to expand at a CAGR of 0.8% over the forecast period.
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Key players in the Australia lime market include Adelaide Brighton Ltd., Boral Limited, Sibelco Australia, Omya Australia Pty. Ltd, Wagners, and Lime Group Australia. Key players in the Australia lime market are focusing on enhancing their product portfolios. They are focusing not only on basic lime products but also on importing quicklime from ASEAN countries such as Thailand and Vietnam and Southeast Asian countries such as China to minimize a cost of raw materials involved in a lime production. Manufacturers are focusing on capitalizing on economies of scale to increase production, profitability, and offer cost-effective products in order to target cost-sensitive population in the region. Joint ventures, acquisitions, and strategic collaborations in terms of production and distribution of lime have been the common strategies employed by these companies to achieve their production objectives.
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Long-term Outlook: The long-term outlook on the Australia lime market remains on the conservative side, with the market expected to expand at a modest CAGR of 1.7% in terms of value during the forecast period. The revival of the mining sector in the country, increasing demand from the construction sector, particularly in the country's east coast region, and demand from the water treatment industry are some of the factors expected to sustain a growth of the lime market in Australia.