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Australia photochemicals market reported healthy growth of 6% CAGR during 2000 to 2010

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Photochemicals, Explosives and Other Chemicals in Australia: ISIC 2429 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-01 17:53:02
The Australian photochemicals, explosives and other chemicals market reached A$4.3 billion in 2010 and saw a healthy growth of 6% annually on average over 2000-2010. However, the market saw a few percentage points decline value in the last two years of the review period due to the global economic downturn. Chemicals are essential in a range of technological processes.

Consequently, overall economic growth resulted in increased demand from most B2B buyers. Altogether, commercial consumers accounted for 93% of total sales in 2010, with this share being fairly stable throughout the review period. In addition to the general slowdown in the economy, decline in the last two years of the review period was also due to increasing governmental regulations covering the use of explosives in the mining industry, however.

Additional restrictions resulted in shrinking demand for explosives and encouraged consumers to look for other substitutes.

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