Australia Lime Market to Reach US$ 358.7 Bn by 2030

Australia Lime Market was valued at US$ 294.1 Billion in 2021 and is expected to surpass US$ 358.7 Billion by 2030, registering a CAGR of 2.1% during the forecast period (2022-2030), according to the Australia Lime Market, By Product Type (Aglime (Agricultural Lime), Quick Lime, Hydrated Lime), By Application (Mining & Metallurgy, Building Material, Agriculture, Water Treatment, Others), and By Region (New South Wales, Victoria, Western Australia, Queensland, Rest of Australia), published by Coherent Market Insights.

Lime is an inorganic versatile mineral composed of calcium compound such as calcium oxide and calcium hydroxide. Lime is widely used across environmental, construction, chemical, industrial, and metallurgical application. It has major use in environmental application such as wastewater treatment. However, the largest use of lime is found in the steel industry where it is used to eliminate the impurity. In the construction industry, it is used to stabilize the soil for road, airfield, building foundation, earthen dams. Moreover, lime is also used in the chemical industry for the production of the various chemical.

The Australia Lime Market was estimated to account for US$ 294.1 billion in terms of value in 2021 and is predicted to grow at a CAGR of 2.1% during the forecast period (2022 to 2030).

Key Developments

1. In January 2019, industrial specialty minerals group, Sibelco announced that it has agreed to sell its lime and limestone activities to two leading players in the lime and limestone industry – Graymont and Grupo Calidra.

Market Driver

Growing demand for limestone in enhancing the pH and alkalinity of in aquaculture pond is projected to propel the market growth over the forecast period. According to the Australian fisheries and aquaculture statistics, the value of commercial fishery and aquaculture production reached US$ 4.06 billion in 2020–21 and was 10 % higher in real terms compared with 2016–17. The growth in value is accounted for by the higher production of aquaculture.

Australia Lime Market - Impact of Coronavirus (Covid-19) Pandemic:

Owing to the COVID-19 pandemic, exports of lime have faced challenges due to rules on the food service industries. Lockdown was imposed across Australia as a precautionary measure by the government. This led to the temporary suspension of businesses in food, automotive, manufacturing, mining, and many other sectors. Due to this shipping costs increased this led the importers to produce less order volumes.

This impacted the growth of the Lime market in Australia and hence the market witnessed slow growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/australia-lime-market-3301

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Key Trends and Analysis of the Australia Lime Market:

• Increasing usage of lime in plastic and elastomeric products is expected to augment the growth of the Australian lime market. Owing to its regular and controlled shape of limestone products it is widely used as filler material in the manufacturing of plastic and rubber. They are used to expand the product size of the plastic without increasing cost. Hence, the rising demand for lime from the plastic industry is expected to foster market growth.
• Lime Market is generally used in steel manufacturing as a flux to remove impurities like sulphur, phosphorus, and silica. Due to this, there is increase in demand for Lime in steel manufacturing, hence it is expected to drive the Lime Market in the Upcoming years.
• Major players operating in the Australia Lime market include Adelaide Brighton Ltd, Boral Limited, Sibelco Australia Ltd., Omya Australia Pty Ltd, Wagners, and Lime Group Australia.