Fly Ash Market worth USD 15.87 billion by 2028, recording


New York, Aug 25, 2021 (GLOBE NEWSWIRE) – Fly ash market overview: According to a comprehensive research report from Market Research Future (MRFR), Fly ash market Segmented by Type, Application and Region Forecast to 2028 ” The market is expected 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 9.44 billion USD in 2020.

Market scope:

The MRFR analysis profiles some of the most significant companies in the global fly ash market, namely

  • Boral (United States)
  • CEMEX SAB de CV (Mexico)
  • LafargeHolcim (United States)
  • Charah Solutions Inc. (United States)
  • Salt River Materials Group (United States)
  • Ashtech India Pvt. Ltd. (India)
  • Aceton Industries LLP (India)

The growth of the fly ash market is enhanced by the collective efforts of these companies, which are trying to expand their geographic reach by introducing highly innovative products and solutions. They are also adopting many strategies such as collaborations, agreements and partnerships to capture a higher market share of fly ash.

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The USP market exclusively encompassed:

Main growth drivers:

Fly ash exhibits exceptional properties including more durability, less permeability and high strength. Tile and brick makers now use fly ash to avoid using clay. As an example, CalStar Products Inc. began using fly ash to make pavers and bricks.

The use of fly ash in tiles and bricks results in approximately 90% less carbon dioxide emissions. Hence, the rise in popularity of fly ash as a carbon dioxide-saving material could drive the market growth in the coming years. The increasing trend towards the demand and use of greener cement also adds to the market value of fly ash. Currently, several companies are devising creative ways to replace Portland cement. Citing a benchmark, Calera Corporation introduced a technology that turns carbon dioxide emissions from the power plant into a stable carbonate mineral that can be used for making cement.

Fly ash is also gaining ground in the construction industry due to its substantial economic benefits. In addition, it is widely regarded as a sustainable alternative to traditional cement by regulators. For example, the European Union in 2015 had supported the GREEN CAST project, establishing that fly ash is an excellent building material due to its remarkable insulating properties. In another case, in 2014, the United States Environmental Protection Agency (EPA) revealed that fly ash could be used in the production of concrete as well as FGD gypsum. As a result, increasing product recognition could lift the market to greater heights in the years to come.

Browse the in-depth market research report (185 pages) on the Fly Ash industry

Market constraints:

The toxic impact of fly ash on the environment is raising huge concerns around the world, which has led governments to ban its use. This factor could hamper the growth of the fly ash market to some extent during the period considered.

COVID-19 analysis

With the COVID-19 epidemic wreaking havoc in various sectors, especially the construction industry, the fly ash industry is under enormous financial strain as well as the imbalance between supply and demand.

However, the size of the fly ash market will continue to grow as the government continues to fund comprehensive research and development activities, providing strong support to suppliers.

Market segmentation

The global fly ash industry has been considered for raw materials, applications and end use industries.

When it comes to raw material, the fly ash industry caters to N-Butane and Benzene. Between these, the N-Butane segment had the greatest market coverage in 2017.

From an application perspective, the market is directed to unsaturated polyester resin (UPR), copolymers, lubricant additives, alkenylsuccinic anhydrides, malic acid, fumaric acid and others. Unsaturated polyester resin was identified as the leading segment in 2017, while copolymers had been the fastest growing segment.

End-use industries in the global fly ash market include construction, automotive, food and beverage, textiles, pharmaceuticals, personal care, agriculture, and others. The construction segment covered the maximum share in 2017; while the automobile is presented as the fastest growing segment over the next few years.

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Regional Status of Fly Ash Market

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

In 2017, APAC became the leading market for fly ash. The construction sector in the region is expected to grow strongly due to upcoming projects, such as Navi Mumbai International Airport, One Belt One Road (OBOR) project, Jakarta Rapid Transit and Trade Corridor. Delhi-Mumbai, to name a few. It is reported that the global value of megaprojects in Southeast Asia is nearly $ 2 trillion. This should work in favor of the regional market during the evaluation period. Apart from that, most of the companies in the region are focusing on merger and acquisition (M&A) activity to increase their fly ash market share.

Europe presents itself as a pocket of strong growth and could show substantial growth in the following years. The economic recovery as well as the increase in the number of smart city projects are doing wonders for the European fly ash market. Furthermore, the regulations associated with the use of coal combustion products in the region are contributing to the growth of the fly ash market.

The size of the fly ash market in North America is increasing in response to the recovery in the construction industry. Strong government support combined with growing awareness of the product for use in construction is driving market growth in the region.

Market segmentation covered by research:

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

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