Pune, India, July 05, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Fly Ash Market Size Report, Share, Growth Strategy, Industry Trends, and Forecast to 2028- COVID-19 Impact and Global Analysis – by Type, Application, and Geography.” the fly ash market size is expected to grow from US$ 32.83 Billion in 2021 to US$ 45.73 Billion by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The projected growth of the market is attributed to the constant growth in the construction industry and the increasing use of fly ash in various applications.
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Fly Ash Market: Competition Landscape
The key players operating in the global fly ash market include Boral LTD., Cemex S.A.B. DE C.V., Lafargeholcim Ltd., Waste Management, Inc., Charah, LLC, Separation Technologies LLC, Cement Australia PTY Limited, Salt River Materials Group, Ashtech India Pvt. Ltd., and Duromar, Inc. are operating in the global fly ash market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and new product launches.
Fly Ash Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 32.83 Billion in 2021 |
| Market Size Value by | USD 45.73 Billion by 2028 |
| Growth rate | CAGR of 4.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 203 |
| No. of Tables | 84 |
| No. of Charts & Figures | 94 |
| Historical data available | Yes |
| Segments covered | Type, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Boral LTD., Cemex S.A.B. DE C.V., Lafargeholcim Ltd., Waste Management, Inc., Charah, LLC, Separation Technologies LLC, Cement Australia PTY Limited, Salt River Materials Group, Ashtech India Pvt. Ltd., and Duromar, Inc. |
In 2021, Asia Pacific held the largest share of the global fly ash market. The major factor driving the fly ash market in the region is the increasing infrastructural developments, such as the development of rail networks, fly overs, and highways; rising activities in residential and commercial construction; and high emphasis of governments and other regulatory bodies on recycling and reutilizing fly ash. According to Asian Coal Ash Association, every year, Asia generates around 850 million tons of coal combustion products (CCPs). These products have wide application in the cement and construction industry.
Constant Growth in Construction Industry
Asia Pacific countries, such as the US, China, India, have the largest construction in the world. The high rate of construction activities creates an enormous demand for various construction materials. Fly ash is utilized in multiple construction-specific applications, such as cement, concrete, bricks, and blocks. There is increasing use of fly ash for a variety of applications in the construction industry. The rise in residential and commercial construction activities and increasing infrastructural development encourage fly ash utilization. In North America, the construction industry is one of the main contributors to the region's economy. According to the Associated General Contractors of America (AGC), the US construction industry creates US$ 1.4 trillion worth of structures every year. Increase in global construction activities is further boosting the fly ash market growth.
Fly Ash Market: Segmental Overview
Based on type, the fly ash market is bifurcated into type F, and type C. The type C segment is expected to register a higher CAGR during the forecast period. Type C fly ash is often obtained from sub-bituminous and lignite coal. Type C fly ash's distinctive self-hardening properties are due to its high quicklime (CaO) concentration. Type C fly ash is best for performance blends, pre-stressed applications, and other applications that require greater early strengths. Type C fly ash is very effective in soil stabilization, owing to its high lime content. Type C fly ash is also chemically resistant to expansion. It is more typically used for structural concrete because it has a larger amount of calcium oxide than Type F. Type C fly ash is generally made of high-calcium fly ashes with less than 2% carbon content. Shift towards sustainability and increase usage of type C fly ash is bolstering the fly ash market growth.
Based on application, the fly ash market is segmented into cement and concrete, block and brick, mining, road stabilization, fills and embankments, waste stabilization, and others. The fly ash market share for the cement and concrete segment was the largest in 2021. Fly ash is utilized as a supplementary cementitious material (SCM) to manufacture Portland cement concrete. Compared to Portland cement concrete of the same workability, the use of excellent quality fly ash with high fineness and low carbon content reduces the water demand of concrete. The fly ash market growth is impacted by the increase usage of fly ash for cement and concrete applications.
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Impact of COVID-19 Pandemic on Fly Ash Market
The COVID-19 pandemic severely impacted various economies across the globe. The pandemic significantly hampered the growth of the fly ash market due to adverse effects on the growth of the building & construction industry. In Europe, currently, France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The pandemic created a temporary distortion in operation efficiencies of industrial bases in the European market. The fly ash market has been negatively impacted due to COVID-19 restrictions. The production of coal has declined in the region. The decrease can be attributed to a decline in energy demand and industry production due to the COVID-19 pandemic. Additionally, the construction industry in the region has faced challenges in terms of the availability of construction materials
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