The lime market in Australia is majorly anticipated to propel on the back of robust mining activities, developments in the country’s construction industry, and major remodeling that is being practiced by some of the active lime market participants based across Australia. A new study of Persistence Market Research (PMR) reports that the market will reach the value of US$ 258 Mn by 2019 end. However, the overall CAGR will remain gradual, projected to be just-about 2% during 2019 – 2029.
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Key Takeaways – Lime Market in Australia
The strong growth perspectives in mining industry and heavy use of limestone for the application amongst all the end use industries are the driving factors directing the performance of Australia lime market. Furthermore, though the market continues to see sluggish progress over the years, our research strongly believes that the efforts that are being invested by manufacturers in accelerating the production rate and enduring overall production quality will augur well for long-term future of the market in Australia.
Major Sales Driven by Imports
Australia lime market is a highly consolidated landscape as the top three market players account for more than 80% of the global value. If the current market structure is taken into account, the entry of any new market player is unlikely to happen and the establishment or emergence of any other player would be cumbersome. The market for lime in Australia is import oriented and the sales in market are mainly expected to be driven by imported lime. The mining growth potential in Australia and the growth of construction activities in New South Wales and Victoria are anticipated to pivot the spurring growth of the market.
Key Players Striving for Reduced Operational Costs
The companies in the market are trying to develop their overall strength and reinforce their existing position in the market by the means of collaborations, mergers, and acquisition of the small entities and working to have a protuberant customer base in the region. The companies are also adroitly working to augment the efficacy of their production and reduce the operational costs which would help them achieve significant reduction without compromising on quality and the existent profit margin. It would also help them enhance sales of surplus production. The mineral rich states like Southern Australia and Western Australia are expected to emerge lucrative owing to the abundance of the mineral production in these regions. Some of the key market participants that the PMR report covers include Adelaide Brighton Limited, Boral Limited, and others.
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