The fly ash market has been segmented into product type and application type. Among application type, it is further classified into Portland cement, road construction, fire bricks, agriculture, decorative glass and water treatment among others. Portland cement is expected to be the largest segment of fly ash market and is anticipated to maintain its “all time high” position over the period 2016-2023. Whereas, road construction and fire bricks segment is anticipated to be the second most attractive market in terms of compound annual growth rate. This can be attributed to the increasing demand of fly ash for emerging megaprojects of expressways and highways in the developing countries and is envisioned to strengthen the growth of fly ash market.
In the regional segment, Asia Pacific is the largest market for fly ash followed by North America owing to the wide availability of products in this region. Due to increasing construction activities and growing urbanization, the region is anticipated to show a strong growth over the forecast period. Agriculture sector has accounted for more than 14% of the global Fly Ash Market and is expected to experience steady growth in the near future due to availability of substitutes for soil stabilization.
The global market for fly ash is expected to flourish at a CAGR of 7.1% over the period 2016-2023. It is anticipated to reach USD 70 Billion by the end of 2023 as compared to USD 40 Billion in 2015. Increasing awareness among consumers towards the benefits of using fly ash as a substitute for Portland cement in concrete along with the cost reduction is expected to uplift the fly ash market across the globe.
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Construction Sector Reflects Significant Opportunities
Fly ash concrete reduces crack problems, reduces heat of hydration and makes the infrastructure resistant to cold weather. It fills the gap between cement particles in concrete mixture which results in less usage of water and increases the durability of concrete which makes it useful in construction sector. Increasing construction activities across the globe has led to strong demand for fly ash in the market owing to its properties such as strength, long term durability, cost effectiveness and improved quality of finished product. These factors are believed to supplement the growth of fly ash market globally.
The report titled “Fly Ash Market: Global Demand, Growth Analysis & Opportunity Outlook 2023”delivers detailed overview of the fly ashmarket in terms of market segmentation by application, by product type, application type and by region.
However, higher permeability of cement due to poor quality of fly ash is expected to be the major reason restraining the market growth over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the fly ashmarket which includes company profiling of Ash Improvement Technology, Boral Limited, Cemex, Ceratech Inc., Ecocem Materials Ltd., Lafarge Holcim Ltd. and Sephaku Cement Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the fly ashmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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