Market Overview:
The global fly ash market was
valued at USD 3.4 Bn in 2017 and is projected to reach USD 5.5 Bn in 2023. As per
the analysis of Market Research Future (MRFR), the global fly ash market is
expected to capture a CAGR of 6.65% over the forecast period of 2016-2023.
Heightened demand for unsaturated
polyester resin (UPR) is one of the preliminary factors that is fostering the
growth of the global fly ash market. Desirable properties of UPR such as
tensile strength, flexural strength, impact strength, damping, thermal
expansion, and corrosion resistance in particular results in increased demand
from the construction industry. They are used for roofing, building panels,
reinforcement, and for the formulation of simulated stones, rocks, marbles, and
fiber-strengthened plastics (FRP).
Increasing consumption of fly ash
in the automotive industry can also be attributed for the growth of the global
fly ash market. Fly ash is applied in the automotive industry to make
automotive castings lighter which leads to further energy savings by means of
reduced fuel consumption.
The governments in multiple
countries have mandated the use of materials containing fly ash for the purpose
of construction of new buildings, in a bid to dispose of quantities of fly ash
produced without out causing environmental degradation and health hazards which
is expected to reflect positively on the growth of the global fly ash market.
Fly ash also finds application in
the construction of roads and fire bricks. Fly ash is experiencing towering
demand from the building projects of expressways and highways since using them
provides significant economic benefits which are likely to arouse the growth of
the global fly ash market.
However, the global fly
ash market is met with certain factors which are likely to restrict
growth over the forecast period. High disposal costs and growing scarcity of
landfill sites can impede the growth of the market. Detrimental environmental
effects of fly ash might also constrain market growth. Meanwhile,
commercialization of bio-based maleic anhydride is expected to offer
opportunities for market expansion over the forecast period.
Competitive Landscape:
Bluestar Harbin Petrochemical
Corp. (China), Thirumalai Chemicals Ltd (India), Fuso Chemical Co. (Japan),
Changzhou Yabang Chemical Co. Ltd (China), Helm AG (Germany), Ashland Inc.
(US), Polynt Group (Italy), Marathon Petroleum Corp. (US), Mitsubishi Chemical
Corporation (Japan), Lanxess (Germany), Ningbo Jiangning Chemical (China),
Nippon Shokubai Co. Ltd (Japan), Nan Ya Plastics Co.(China), Bartek Ingredients
Inc. (Canada), and Huntsman Corporation (US) are the leading players in the
global fly ash market.
Segmentation:
The global fly ash market has
been segmented based on raw material, application, and end-use industries.
By raw material, the global fly
ash market has been segmented into N-Butane and Benzene. The N-Butane segment
accounted for the largest share of the market in 2017.
By application, the global fly
ash market has been segmented into Unsaturated Polyester Resin (UPR),
Copolymers, Lubricant Additives, Alkenyl Succinic Anhydrides, Malic Acid,
Fumaric Acid, and Others. The unsaturated polyester resin segment led the
market in 2017 while the copolymers segment is projected to be the fastest
growing segment.
By end-use industries, the global
fly ash market has been segmented into Construction, Automotive, Food &
Beverages, Textile, Pharmaceuticals, Personal Care, Agriculture, and Others.
The construction segment was the largest in 2017 while the automotive segment
is expected to be the fastest growing segment over the forecast period.
Regional Analysis:
Geographically, the fly ash
market spreads across the regions of the Americas, Asia Pacific, Europe, Latin
America, and the Middle East & Africa.
APAC led the global market in
2017. Rapid industrialization in the region coupled with the enormous growth of
the construction industry in the region due to fast-track urbanization can be
accredited for the growth of the APAC market. Also, fly ash is found in
abundance in the region which acts as a plus for the growth of the APAC fly ash
market. In addition, the governments in the region have initiated actions for
energy conservation which serves a significant driving factor.
Europe is a significant growth
pocket and is expected to exhibit substantial growth over the forecast period.
The economic recovery in Europe coupled with the rise in a number of smart city
projects provides an impetus for the growth of the Europe fly ash market.
Regulations pertaining to the utilization of coal combustion products in the
region is driving the market.
North America fly ash market is
chiefly driven by the upswing of the construction industry in the region.
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