Fly Ash Market worth USD 15.87 billion by 2028, registering a CAGR of 6.65% - Report by Market Research Future (MRFR)

New York, UNITED STATES


New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Fly Ash Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Fly Ash Market Segmented by Type, Application and Region Forecast till 2028” the market is projected to be worth USD 15.87 billion by 2028, registering a CAGR of 6.65% during the forecast period (2021 - 2028), The market was valued at USD 9.44 billion in 2020.

Market Scope:

The MRFR analysis profiles some of the most important companies in the global Fly Ash Market, namely

  • Boral (US)
  • CEMEX S.A.B. de C.V. (Mexico)
  • LafargeHolcim (US)
  • Charah Solutions Inc. (US)
  • Salt River Materials Group (US)
  • Ashtech India Pvt. Ltd. (India)
  • Aceton Industries LLP (India)

Fly ash market growth is bolstered by the collective efforts given by these companies, who try to expand their geographical reach by introducing highly innovative products and solutions. They also adopt numerous strategies such as collaborations, agreements, and partnerships to capture a higher fly ash market share.


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Market USP exclusively encompassed:

Key Growth Drivers:

Fly ash exhibits exceptional properties including more durability, less permeability and high strength. Tiles and bricks manufacturers are now making use of fly ash in order to avoid using clay. To illustrate, CalStar Products Inc. has started using fly ash to manufacture pavers and bricks.

The use of fly ash in tiles and bricks leads to emission of about 90% less carbon dioxide. Therefore, the surge in popularity of fly ash as carbon dioxide-efficient material could stimulate market growth in the coming years. The rising shift towards the demand and use of greener cement adds to the fly ash market value as well. At present, several companies are devising creative methods to replace Portland cement. Citing a reference, Calera Corporation has introduced a technology that transforms carbon dioxide emission from power plant into stable mineral carbonate that can be used for manufacturing cement.

Fly ash is also gaining traction within the construction industry owing to its substantial economic benefits. Moreover, it is widely viewed as a sustainable alternative to traditional cement by the regulatory bodies. For instance, European Union in 2015 had supported the project GREEN CAST, establishing that fly ash serves as a great building material owing to its remarkable insulation properties. In another instance, in 2014, the United States (U.S.) Environmental Protection Agency (EPA) had revealed that fly ash can be used in the production of concrete as well as FGD gypsum. As a result, increasing product recognition could elevate the market to greater heights in the forthcoming years.


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Market Restraints:

Fly ash’s toxic impact on the environment raises huge concerns worldwide, leading to the governments implementing a ban on its use. This factor might impede the fly ash market growth to some extent during the review period.

COVID-19 Analysis

With the COVID-19 outbreak wreaking havoc on various sectors, especially the construction industry, the fly ash industry has been reeling under a huge financial duress as well as the imbalance in the supply and demand gap.

However, the fly ash market size shall continue to expand as the government continues to fund exhaustive research and development activities, lending strong support to the vendors.

Market Segmentation

The global fly ash industry has been considered for raw material, application, as well as end-use industries.

With respect to the raw material, the fly ash industry caters to N-Butane and Benzene. Between these, N-Butane segment had the largest coverage of the market in 2017.

Application-wise, the market caters to Unsaturated Polyester Resin (UPR), Copolymers, Lubricant Additives, Alkenyl Succinic Anhydrides, Malic Acid, Fumaric Acid, and others. The unsaturated polyester resin was identified as the leading segment in 2017, whereas copolymers had been the fastest growing segment.

The end-use industries in the global fly ash market include construction, automotive, food & beverages, textile, pharmaceuticals, personal care, agriculture, and others. The construction segment covered the maximum share in 2017; while automotive is touted to be the fastest growing segment in the next few years.


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Fly Ash Market Regional Status

The primary markets for fly ash are Asia Pacific (APAC), Europe, Latin America, Middle East & Africa, and North America.

In 2017, APAC emerged as the leading market for fly ash. The construction sector in the region is projected to expand strongly on account of the upcoming projects, like Navi Mumbai international airport, One Belt One Road (OBOR) project, Jakarta mass rapid transit and Delhi-Mumbai trade corridor, to name a few. It is reported that the overall value of the mega projects in Southeast Asia is almost USD 2 trillion. This is expected to work in favor of the regional market during the evaluation period. Other than this, most companies in the region are focusing on merger and acquisition (M&A) activities to foster their fly ash market share.

Europe stands as a strong growth pocket and could demonstrate substantial growth in the subsequent years. The economic recovery along with the surge in the number of smart city projects does wonders for the Europe fly ash market. Also, regulations associated with the use of coal combustion products within the region aids in market growth for fly ash.

The fly ash market size in North America is growing in response to the upswing of the construction sector. Strong backing from the government combined with the mounting awareness about the product for use in construction spurs market growth in the region.

Segmentation of Market covered in the research:

Fly Ash Market Global Segmented by Type (Class F, Class C), Application (Portland Cement & Concrete, Bricks & Blocks, Road Construction, Agriculture and Others) and Region Forecast till 2028


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