The global
fly ash market is growing dramatically, mainly due to the construction boom in
various developing economies. The market growth is significant in many
developing countries, where large-scale industrialization is creating a need
for rapid improvements in infrastructure. Besides, highly populated countries
foster market growth, witnessing the increasing demand for higher-quality
housing, and better living conditions.
According
to Market Research Future (MRFR), the valuation of the global fly ash market is
poised to reach USD 4.9 BN by the end of 2023. In its recent study report,
MRFR, also confirms that the market would register 6.30% CAGR during the
forecast period (2016 – 2023). Furthermore, rising usages of fly ash in
cement-based products and government initiatives for energy conservation are
major growth fuelling factors for the market.
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Besides,
factors such as the increasing urbanization in different regions, led by the
improving GDP and massive consumption of fly ash in Portland cement concrete
pavement or PCC pavement, boost the size of the market. Substituting fly ash
provides significant economic benefits. Therefore, usages of fly ash are
increasing in residential as well as non-residential construction activities.
Moreover,
fly ash is also used as embankment and mine fill, and it has been increasingly
gaining acceptance by the Federal Highway Administration. The
cost-effectiveness of fly ash is a prime factor creating substantial market
demand. Additionally, the economic growth and the rising numbers of smart city
projects provide a considerable impetus to the growth of the global fly ash
market.
Conversely,
some of the disadvantages of fly ash, such as its tendency to effloresce and
concerns about freeze/thaw performance, are challenging the growth of the
market. Also, the lack of knowledge about the benefits of fly ash acts as a
significant block for market growth. Nevertheless, increasing usages of fly ash
as a cost-effective substitute for Portland cement would support the market
growth throughout the assessment period.
Global
Fly Ash Market - Segmentation
The report
has been segmented into four major dynamics.
By Type
: Class F and Class C.
By Application : Portland Cement, Concrete, Bricks &
Blocks, and others.
By End-uses : Road Construction,
Agriculture, and others.
By Regions : Europe, Americas, Asia
Pacific, Middle East & Africa, and Rest-of-the-World.
Global
Fly Ash Market - Regional Analysis
The Asia
Pacific region is forecasted to retain its dominance over the global fly ash market. Rapid industrialization and
urbanization, alongside the growing population, foster market growth, driving
the construction industry in the region. In addition, initiatives by the
governments for energy conservation serves as a significant growth driver for
the fly ash market in the region. APAC
has been attracting foreign investors with its easy availability of
cost-competitive workforce and the raw material advantage. Furthermore,
favorable government policies are boosting the commercial construction in the
region, allowing the increase in the foreign direct investment (FDI).
Europe is
another consistently growing market for fly ash. The region accounts for a key consumer due to
the increasing consumption of fly ash in rising public & private
construction activities. The rising population that demands better living
conditions, higher-quality housing, and infrastructure is expected to drive
market growth in the region.
The fly ash
market in North America holds a substantial share. Rapid growth in commercial
and infrastructure construction is estimated to boost the growth of the
regional market. Besides, rapid industrialization and the increasing number of
construction activities in the region are projected to contribute to the growth
of the North American fly ash market.
Global
Fly Ash Market - Competitive Analysis
The fly ash
market appears to be highly competitive, characterized by the presence of
several well-established players. To gain a substantially large market share,
players incorporate strategic initiatives such as mergers & acquisitions,
collaboration, expansion, and product launch. Manufacturers are drawing up
investments for production expansion program, which can help them to cut down
logistics cost and increase capacity with a potential to fetch a larger
turnover.
Major Players
Players
leading the global fly ash market, include CEMEX SAB de CV (Mexico), Boral
(US), LafargeHolcim (US), Salt River Materials Group (US), Charah Solutions,
Inc. (US), Aceton Industries LLP (India), and Ashtech India Pvt. Ltd. (India),
among others.
Industry/ Innovation/ Related News:
August 20, 2019 ---- Researchers from the Indian
Institute of Technology (IIT-Hyderabad) have found a new technology that can
convert fly ash into waterproofing material. Fly ash waste, a by-product of
power plants poses a threat to the environment. The new technology discovered
by scientists of IIT can modify fly ash into superhydrophobic fly ash
particles, a waterproofing material, by using this binding ability of stearic
acid.
The newly
developed material is highly cost-effective as the fly ash abundantly
available, and stearic acid is also not an expensive chemical. Also, the
synthesis process is so simple that even an untrained individual can prepare
these superhydrophobic materials with ease.
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