Global Fly Ash Market – Overview
The global market for fly ash is making significant amount of profit and Market Research Future Fly Ash Market is projected 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 USD 9.44 billion in 2020. Major portion of the growth would be commanded by the construction sector.
There are several factors that may have their significant contribution to the market for fly ash. Fast-paced urbanization and industrialization can secure a safe trajectory for the growth of the fly ash market. The emerging economies are expected to make significant market contribution, among them, countries in the Asia Pacific region would contribute significantly. Various infrastructural projects are expected to drive the global fly ash market ahead. Its integration in the automotive segment may hold significant promise for the market. The adverse effects of fly ash can be taken into consideration while assessing possibilities of a market slump in the coming years. Various governments are growing concerned, which can hold back the expected growth rate in the coming years. But the growing demand for eco-friendly constructions can ensure a safe passage for the fly ash market to grow.
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Global Fly Ash Market – Prominent Players
Lafarge North America Inc. (US),Ashtech Pvt. Ltd. (India),FlyAshDirect (US),Salt River Materials Group (US),Separation Technologies LLC (US),Aggregate Industries (UK).
Market Drivers and Key Barriers
Fly ash exhibits exceptional properties, including more durability, less permeability, and high strength. Tiles and bricks manufacturers are now making use of fly ash to avoid using clay. To illustrate, CalStar Products Inc. has started using fly ash for manufacturing pavers and bricks.
The use of fly ash in tiles and bricks leads to emission of about 90% less carbon dioxide. Therefore, the surge in popularity of fly ash as carbon dioxide-efficient material could stimulate market growth in the coming years. In addition, the worldwide shift towards greener cement adds to the market strength. At present, several companies are devising creative methods to replace Portland cement. Citing a reference, Calera Corporation has introduced a technology that transforms carbon dioxide emission from power plant into stable mineral carbonate that can be used for manufacturing cement.
Fly ash is also gaining traction within the construction industry, owing to its substantial economic benefits. Moreover, it is widely viewed as a sustainable alternative to traditional cement by the regulatory bodies. For instance, European Union in 2015 had supported the project GREEN CAST, establishing that fly ash serves as a great building material owing to its remarkable insulation properties. In another instance, in 2014, the United States (U.S.) Environmental Protection Agency (EPA) had revealed that fly ash could be used in the production of concrete as well as FGD gypsum. As a result, increasing product recognition could elevate the market to greater heights in the forthcoming years.
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Fly Ash Market – Segments:
The global market for fly ash has been segmented on the basis of raw material, application, and end-use industries.
With respect to the raw material, the global market is considered for N-Butane and Benzene. Between these, N-Butane segment had the largest coverage of the market in 2017.
Application-wise, the market caters to Unsaturated Polyester Resin (UPR), Copolymers, Lubricant Additives, Alkenyl Succinic Anhydrides, Malic Acid, Fumaric Acid, and others. The unsaturated polyester resin was identified as the leading segment in 2017, whereas copolymers had been the fastest-growing segment.
The end-use industries in the global fly ash market include construction, automotive, food & beverages, textile, pharmaceuticals, personal care, agriculture, and others. The construction segment covered the maximum share in 2017; while automotive is touted to be the fastest-growing segment in the next few years.
Fly Ash Market – Regional Analysis:
The primary markets for fly ash are Asia Pacific (APAC), Europe, Latin America, Middle East & Africa, and the Americas.
In 2017, APAC emerged as the leading market for fly ash. The construction sector in the region is projected to expand strongly on account of the upcoming projects, like Navi Mumbai international airport, One Belt One Road (OBOR) project, Jakarta mass rapid transit, and Delhi-Mumbai trade corridor, to name a few. It is reported that the overall value of the mega projects in South East Asia is almost USD 2 trillion. This is expected to work in favor of the regional market during the evaluation period. Other than this, most companies in the region are focusing on merger and acquisition (M&A) activities to expand their reach in the market.
Europe stands as a strong growth pocket and could demonstrate substantial growth in the subsequent years. The economic recovery, along with the surge in the number of smart city projects, does wonders for the Europe fly ash market. Also, regulations associated with the use of coal combustion products within the region aids in market growth for fly ash.
The fly ash market in North America is growing in response to the upswing of the construction sector. Strong backing from the government combined with the mounting awareness about the product for use in construction spurs market growth in the region.
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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