Fly Ash Market Overview
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.
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.
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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.
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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.
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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