Fastest Declining Industries in Australia by Revenue Growth (%) in 2025

1. Lithium and Other Non-Metallic Mineral Mining in Australia

2025-2026 Revenue Growth: -50.6%

Spodumene concentrate (lithium ore) has become by far the dominant product in the Lithium and Other Non-Metallic Mineral Mining industry over the five years through 2023-24. Spodumene concentrate is still mainly exported to China for further processing, but major mining firms have started to use it domestically to refine lithium hydroxide. Spodumene concentrate output has increased over the past five years, particularly over the three years through 2023-24. While production is growing strongly, surging demand is behind the largely price-driven growth, as strong demand from the Chinese electric vehicle market and lithium stockpiling is prompting a spike in world prices.... Learn More

2. Nickel Ore Mining in Australia

2025-2026 Revenue Growth: -49.7%

Nickel ore miners faced generally positive operating conditions over the past five years, with strong pricing growth and demand being partly offset by output declines. Most nickel ore mined in Australia is processed locally into nickel concentrate by downstream smelting and refining firms, or by nickel ore mining companies that also operate their own smelters and refineries. All nickel ore mined by the industry is from Western Australia. Infrastructure projects and the production of nickel-based stainless steel goods in China drove global demand for nickel over the past five years. These factors positively affected Australian nickel exports, with domestic demand... Learn More

3. Battery Material Mining in Australia

2025-2026 Revenue Growth: -36.4%

Battery material mining revenue has soared, as battery manufacturers have sought to lock in supply to meet surging demand. Rising demand for electric vehicles has led global automakers to offer a growing range of electric vehicles, particularly in China. The supply of battery materials has become increasingly tight, driving demand for Australian battery material exports. Overall, industry revenue has grown at an annualised 55.9% over the past five years, to $16.9 billion. This includes a rise of 198.6% in 2022-23, as lithium export prices skyrocket.

Several new enterprises have entered the industry by developing lithium mines in Western Australia. These firms... Learn More

4. Electric Vehicle Wholesaling in Australia

2025-2026 Revenue Growth: -17.5%

The Electric Vehicle Wholesaling industry has grown rapidly over the past five years. Increased charging infrastructure availability has supported demand, as has an increased range of electric vehicle (EV) models. Rising concern about environmental issues has also assisted the industry, as consumers have sought to lower their environmental footprint. A mostly positive consumer index, which indicates households are optimistic about their financial position and more likely to make expensive purchases, has further supported this trend. Despite these factors, EVs are still unaffordable for many consumers due to their high price point, limiting their consumer market. Additionally, minimal federal and state... Learn More

5. Dredging Services in Australia

2025-2026 Revenue Growth: -17.1%

The Dredging Services industry's performance peaked in 2013-14, due to strong mining activity and high export growth driving demand for dredging services. Due to these trends, port expansions were undertaken to accommodate larger shipping fleets, driving demand for dredging services. However, revenue has since greatly declined from this peak due to significant falls in capital expenditure across the mining sector, and remained relatively low over the five years through 2022-23. However, dredging works in the two years through 2022-23 related to the Port of Townsville upgrade are expected to benefit dredging companies.

Demand for channel widening and maintenance, changes in shipping... Learn More

6. Tobacco Product Wholesaling in Australia

2025-2026 Revenue Growth: -15.5%

The Tobacco Product Wholesaling industry has faced declining consumer demand and rising prices over the past five years. Industry revenue has declined, as rising prices and growing health consciousness have put downward pressure on smoking rates. The closure of downstream duty-free retailers for extended periods over the three years through 2021-22, as a result of COVID-19 travel restrictions, exacerbated revenue falls. Overall, industry revenue is expected to decrease at an annualised 9.1% over the five years through 2022-23, to total $2.1 billion. However, this includes an anticipated increase of 3.6% in the current year, with the easing of travel restrictions... Learn More

7. Cotton Ginning in Australia

2025-2026 Revenue Growth: -13.5%

The Cotton Ginning industry is an important part of the agricultural support services and national cotton sectors, and is closely linked to the Cotton Growing industry. Various factors also indirectly affect cotton ginners, like climatic conditions, water supply regulation, cotton stockpiling, and global cotton consumption and production fluctuations. Typically, cotton is harvested and ginned towards the end of the financial year, with any surplus production carried into the following year. Higher cotton production correlates with higher revenue, often with a one-year delay due to the timing of harvest season. The variability of these factors has caused significant revenue volatility in... Learn More

8. Factory and Industrial Building Construction in Australia

2025-2026 Revenue Growth: -12.9%

The Factory and Industrial Building Construction industry constructs buildings ranging from simple tilt-wall warehouse spaces to sophisticated purpose-built laboratories with high security and humidity-controlled environments. Industry revenue responds to demand trends from several segments of the economy, including manufacturing, mining and agriculture. Much of the industry's expansion over the past five years has come from constructing warehousing and distribution facilities to meet demand from the Wholesale and Retail Trade divisions. Demand for factory construction over the period has focused on production and specialist storage facilities for food and beverage manufacturing. However, demand has fallen from many other segments in the... Learn More

9. Grain Storage in Australia

2025-2026 Revenue Growth: -12.4%

Operators in the Grain Storage industry have benefited from strong growth in grain production volumes over the past five years. Industry revenue is expected to rise at an annualised 5.7% over the five years through 2022-23, to $3.1 billion. The industry is characterised by extreme revenue volatility, which creates difficult conditions for operators. Shifting wheat prices, movements in the Australian dollar and fluctuating grain production due to changing rainfall have influenced industry demand and earnings. For example, a record national grain harvest during 2020-21 significantly increased demand for grain storage. However, dry and hot weather conditions hampered the industry early... Learn More

10. Liquefied Natural Gas Production in Australia

2025-2026 Revenue Growth: -11.6%

Liquefied natural gas (LNG) production has rapidly expanded, as project development has increased the scale and production capacity of the industry. Australian liquefied natural gas (LNG) exports have increased from 20.0 million tonnes in 2010-11 to 80.9 million tonnes in 2022-23. LNG revenue is expected to rise at an annualised 20.7% over the five years through 2022-23, to $90.3 billion.

The wave of project development that occurred across the industry over the past decade has now concluded. Ten LNG facilities are now operational, including the Prelude and Ichthys projects, which shipped their first cargoes in 2018-19. Together, the industry's 10 LNG... Learn More