Increase in the Use of Fly Ash in Various Applications to Escalate Fly Ash Market Growth During 2021–2028
According to our latest market study on “Fly Ash Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Type F and Type C) and Application (Cement & Concrete, Block & Brick, Mining, Road Stabilization, Fills & Embankments, Waste Stabilization, and Others),’’ the market is projected to reach US$ 45.73 billion by 2028 from US$ 32.83 billion in 2021 it is expected to grow at a CAGR of 4.8% from 2021 to 2028
Fly as is a byproduct of coal combustion and is used as a substitute for cement in various construction applications. The demand for sustainable construction materials and the need to reduce greenhouse gas emissions are driving the market growth of fly ash market.
Global Fly Ash Market Breakdown – by Region
Fly Ash Market Size and Forecasts (2021 - 2028), Global and Regional Growth Opportunity Analysis
Fly Ash Market Size Report and Global Growth Analysis by 2028
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Fly ash is a fine powder residue that is produced during the combustion of coal. It is commonly used as a substitute for cement in various construction applications, including concrete, bricks, and road construction. Fly ash improves the durability and strength of these materials while reducing their environmental impact. It is an eco-friendly alternative to traditional cement, as it reduces greenhouse gas emissions and conserves natural resources. It also comes with benefits, such as strength and durability, cost-effectiveness, improved workability, reduced heat of hydration, reduced shrinkage, improved chemical resistance, reduced carbon footprint, etc. Major factors driving the fly ash market growth are growing awareness regarding benefits of fly ash and increasing usage of fly ash in various applications. Fly ash is used in various applications such as cement and concrete, block and brick, mining, fills and embankments, many others. Due to its pozzolanic feature, the use of fly ash in concrete is quite beneficial, as it improves concrete's durability. In the manufacturing of Portland cement concrete, fly ash is utilized as a supplementary cementitious material (SCM) to improve the performance of this concrete. Rapid urbanization and industrialization in developing countries, blooming construction industry, rising utilization of fly ash in end-use industries and ban on asbestos containing cement products are further fueling the market growth.
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 key players operating in the global fly ash market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and new product launches.
Impact of COVID-19 Pandemic on Fly Ash Market
The ongoing pandemic has drastically altered the chemicals & materials sector's status and negatively impacted the fly ash market's growth. The implementation of measures to combat the spread of the virus has aggravated the situation and impacted the growth of several industrial sectors. Many of the thermal power plants were not operational or operating at a lower capacity. This has negatively impacted fly ash generation and utilization. The pandemic has created a global health crisis that has disrupted all industries, including the construction industry. Reduced economic activity has resulted in less demand for new commercial or industrial facilities. Loss of income and lack of consumer confidence have negatively affected the demand for housing construction. Also, the construction sites have faced disrupted supply chains and operational restrictions. However, as the economies are planning to revive their operations, the demand for fly ash is expected to rise globally. Moreover, the previously postponed construction projects are ready to resume, further providing an opportunity for the fly ash market players to regain normalcy.
The report includes the segmentation of the global fly ash market as follows:
The global fly ash market is segmented on the basis of type, and application. Based on type, the market is segmented into type F and type C. Based on application, the global fly ash market is segmented into cement and concrete, block and brick, mining, road stabilization, fills and embankments, waste stabilization, and others. By geography, the global fly ash market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America fly ash market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific fly ash market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America fly ash market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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