New York, NY -- (SBWIRE) -- 11/07/2016 -- According to a new report by Persistence Market Research, "Australia Market Study on Lime: Industry Analysis and Forecast 2016-2024", the Australian lime market is estimated to reach the value of US$ 211.0 Mn at the end of 2016, expanding at a CAGR of 1.7% through the forecast period. The growing demand for energy and cost-efficient solutions is expected to fuel demand in the Australian market.

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Rapid urbanization and development of infrastructure is resulting in rising demand for lime from the construction sector. The Australian east coast is witnessing major development projects being launched, along with the growth in the mining sector to meet the increasing consumption rate owing to the demand for refining purposes. On the other hand, the end-use markets have slowing demand owing to the repercussions of the economic slowdown in Australia and is projected to restrain the market to a certain extent through the forecast period.

In terms of product type, the Australian lime market is segmented as quicklime and slaked/hydrated lime. Slaked/hydrated lime segment accounted to near 70% share in terms on consumption in 2015. The segment is expected to continue its current trend through the forecast period. In terms of value, the slaked/hydrated segment is anticipated to value US$ 146.7 Mn at the end of 2016, whereas quicklime is projected to be the fastest growing segment at a 2.0% CAGR for the forecast period.

In terms of application, the Australian lime market is segmented as mining and metallurgy, building materials, agriculture, water treatment, and others. The mining and metallurgy, and building materials segments are anticipated to account for significant shares in terms of volume at 38% and 35% respectively. The mining and metallurgy segment is projected to rise with the highest CAGR through the forecast period owing to increased adoption of lime in refining and extraction of mineral ores.

The Australia lime market is segmented in terms of region into New South Wales, Victoria, Queensland, Western Australia, and Rest of Australia. New South Wales is the dominating region accounting for over 31.1% volume share in the Australian lime market in 2015. The region is projected to continue its dominating trend through the forecast period with estimations of the region to value US$ 59.1% at the end of 2016. Western Australia is the largest producer of lime, accounting for over 65% volume production and is projected to register a CAGR of 0.8% through the forecast period.

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Some key players in the Australia lime market include Wagners, Omya Australia Pty Ltd., Boral Limited, Sibelco Australia, Adelaide Brighton Ltd, and Lime Group Australia. Companies are focusing on increasing their product portfolio and gain a strong foothold in the market. Manufacturers are looking towards investing in increasing production and profitability, along with providing cost-efficient products. Companies are also focusing on importing quicklime from ASEAN countries to reduce cost of raw materials required in lime production.