Analyzing the historical data, the import of non-refractory mortars and concretes to Australia has shown significant fluctuations. The year 2013 experienced a dramatic increase of 88.44% in import volumes, followed by a decrease of 38.67% in 2014, showing high volatility in the initial years. The 2015-2016 period saw moderate increases, and an extraordinary spike of 192.22% occurred in 2017. From 2018 to 2020, the trend was mixed with a notable dip in 2020. The years 2021 and 2022 showed consecutive double-digit growth, culminating in a 5.32% increase in 2023 where imports stood at approximately 31.249 million kilograms.
From 2024 onwards, the forecasted data predicts a steady upward trajectory in import volumes. The compound annual growth rate (CAGR) from 2023 to 2028 is projected to be 3.69%, reflecting a gradual yet stable progression. The total growth rate over this five-year period is estimated at 19.85%, indicating modest but consistent market expansion.
Future trends to watch for include:
- Potential market stabilization and lower volatility compared to earlier years.
- An increase in domestic construction activities potentially influencing import volumes.
- Economic policies and international trade agreements affecting import rates.
- Technological advancements in non-refractory mortars and concretes enhancing product demand.
