Fastest Growing Industries by Exports in Australia in 2023

1. Ready-Mixed Concrete Manufacturing in Australia

Growth in Exports for 2023: 400.0%

Trends in building and infrastructure construction determine the Ready-Mixed Concrete Manufacturing industry's performance. The product's perishability restricts supply capabilities to a narrow geographic market. Several large-scale, vertically integrated manufacturers together account for over two-thirds of industry sales and have branch representation in most markets. These include Boral Limited, Hanson Australia, Holcim Australia, Adbri Limited and the Barro Group.

Divergent trends in downstream building and infrastructure markets have influenced the industry in recent years. Industry revenue has declined at an anticipated annualised 1.1% over the past five years. Revenue is expected to total $6.7 billion in 2022-23, including an estimated contraction of... Learn More

2. Mango Growing in Australia

Growth in Exports for 2023: 376.5%

Operators in the Mango Growing industry have faced mixed conditions over recent years. Despite tough international trading conditions, domestic demand has remained largely reliable for growers. Rising health consciousness has strengthened demand in the domestic market, both in downstream sales directly to consumers, and to food and beverage manufacturers. Favourable growing conditions in 2019-20 significantly boosted mango output. Even so, the Russia-Ukraine conflict and the COVID-19 pandemic have significantly affected the price of key inputs and labour availability. Unfavourable agricultural conditions in 2022-23 have also limited revenue. Overall, industry revenue is expected to climb at an annualised 3.3% over the... Learn More

3. Battery Material Mining in Australia

Growth in Exports for 2023: 206.0%

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. Lithium and Other Non-Metallic Mineral Mining in Australia

Growth in Exports for 2023: 197.6%

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

5. Lubricants and Other Petroleum Product Manufacturing in Australia

Growth in Exports for 2023: 150.3%

Lubricants and other petroleum product manufacturers further refine heavy and light oil components into various petroleum-based products using oil and grease base stocks with key products such as lubricating oils and greases, bitumen and aromatic hydrocarbons. Some players also distil coal to produce coke and coal tar. Industry products are used to construct roads; run vehicles, machinery and equipment; and in general manufacturing. Therefore, various external factors influence the industry's performance, including developments in the upstream petroleum refining and coal mining sectors and in key downstream user industries such as mining, construction and various manufacturing industries. The industry has been... Learn More

6. Cotton Ginning in Australia

Growth in Exports for 2023: 146.0%

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

7. Shipbuilding and Repair Services in Australia

Growth in Exports for 2023: 122.9%

The Shipbuilding and Repair Services industry is beholden to the whims of government investment. Valuable contracts for delivery of Royal Australian Navy (RAN) warships and submarines have dictated the industry's trajectory. In 2017-18, industry revenue skyrocketed on the back of the Naval Shipbuilding Plan (NSP) announcement. The 2022 Defence Strategic Review (DSR) has cast uncertainty around many projects, with the Federal Government committing to reprioritising defence funding. However, the DSR has highlighted the commitments in-line with developing a more robust maritime division in tandem with the goals of the AUKUS alliance. Supply chain disruptions, travel restrictions and changing government objectives... Learn More

8. Prefabricated Wooden Building Manufacturing in Australia

Growth in Exports for 2023: 117.4%

The Prefabricated Wooden Building Manufacturing industry faces fierce competition from prefabricated buildings manufactured using metal, PVC and fibre cement and substitution by traditional on-site building construction. Incremental improvements in technology and design help the industry capture an increased share of the total building market. Manufacturers have faced fluctuations in the downstream household, building and tourism markets. Still, industry revenue is expected to climb at an annualised 4.5% over the past five years to reach $529.0 million in 2023-24.

In recent years, growth in capital expenditure on non-residential building construction has underpinned sales of relocatable buildings like modular classrooms, pop-up kiosks and... Learn More

9. Gold and Other Non-Ferrous Metal Processing in Australia

Growth in Exports for 2023: 69.0%

Refined gold volumes are anticipated to total 283.5 tonnes in 2023-24, down from 293.0 tonnes in 2018-19. Despite strong gold demand, refining volumes dropped off as production was hamstrung by border closures and restrictions.

Surging gold prices and lithium hydroxide production have outweighed reduced refined gold volumes, leading to strong revenue growth. Industry revenue is anticipated to increase at an annualised 18.1% over the five years through 2023-24, to total $52.9 billion. Much of this surge was in 2022-23, due to the rapid expansion of lithium hydroxide processing. Growth is expected to drop to 2.7% in 2023-24, as gold prices ease... Learn More

10. Basic Inorganic Chemical Manufacturing in Australia

Growth in Exports for 2023: 46.1%

The Basic Inorganic Chemical Manufacturing industry's performance has been highly volatile in recent years. With the industry focused on international markets, volatility in export markets has weighed on the industry's performance. Marked fluctuations in global chemical commodity prices have added to the industry's volatility.

The industry is expected to expand by an annualised 8.4% over the five years through 2022-23, to total $3.4 billion. Estimated growth of 37.9% in 2022-23, in view of record-high prices, has somewhat distorted this rate. This apparent strong performance also hides the effects of ongoing structural changes in Australia's wider industrial economy and the impact of... Learn More