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The key players operating in the global fly ash market include Boral; CEMEX S.A.B. DE C.V.; HOLCIM; Waste Management, Inc.; Charah Solutions, Inc.; Salt River Materials Group; Cement Australia Pty Limited; Ashtech India Pvt. Ltd.; Titan America, LLC.; and Aceton Industries, LLP.
NEW YORK , Dec. 1, 2021 /PRNewswire/ -- According to The Insight Partners study on " Fly Ash Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Type F and Type C) and Application (Cement and Concrete, Block and Brick, Mining, Road Stabilization, Fills and 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. The report highlights key factors driving the market and prominent players along with their developments in the market.
No. of Charts & Figures
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Based on region, the fly ash market is segmented into North America , Europe , Asia Pacific , South America , and the Middle East & Africa . In 2020, Asia-Pacific held the largest share of the global fly ash market. As a result of population growth and urbanization, the demand for residential construction has grown significantly over the years. This growth is expected to continue in the coming years aided by the expansion of global players from developed countries. Moreover, increasing infrastructure development programs and new transportation facilities such as rail networks would further fuel the demand for fly ash in the region.
Impact of COVID-19 Pandemic on Fly Ash Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries suffering severe disruptions, such as supply chain breaks and shutdowns of production plants, because of this pandemic. The shutdown of various manufacturing plants and factories in leading regions has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Further, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe , Asia , and North America are affecting business collaborations and partnership opportunities. All these factors are anticipated to affect the chemicals & materials industry negatively, thereby acting as a restraining factor for the growth of various markets related to this industry in the coming months. The pandemic has directly affected the production and demand, led to supply chain and market disruption, and has subsequently impacted the financial status of the firms and the global economy. Similarly, the fly ash market has been negatively affected by the pandemic.
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Constant Growth in Building & Construction Industry is Expected to Drive the Fly Ash Market Growth During Forecast Period
Construction activities have also increased in Asia Pacific . The region's rising population is putting a strain on current infrastructure, necessitating the development of new rail networks, residential structures, and roadways. The governments and regulatory bodies in this region are actively focusing on additional infrastructure investments. For instance, China recently announced the 'New Infrastructure' program in an effort to mitigate the economic impact of the COVID-19 pandemic while also promoting long-term developments. The 'New Infrastructure' projects will focus on the construction of various key areas, including inter-city transportation and inner-city rail systems, 5G networks, industrial Internet, data centers, artificial intelligence, ultra-high voltage, and new energy vehicle charging stations.
According to the Journal of Environmental Research, Engineering, and Management, currently, in India , 38.67% of fly ash is utilized in the construction sector for various application, with 25.60% in cement. With a vision to provide housing for all by 2022, the Government of India has launched the "Pradhan Mantri Awas Yojna" mission. Through this mission, the Government aims at providing houses for all by the year 2022. This factor has resulted in enhanced construction activities, driving the demand for fly ash.
Fly Ash Market: Segment Overview
The cement and concrete segment held the largest share of the global fly ash market in 2020. Fly ash is widely used in the manufacturing of cement and concrete for stabilization. This helps reduce the usage of water in the mixing of cement and improves its workability. Growing demand from the developing economies for new construction projects are expected to propel the demand for fly ash within the cement and concrete segment.
Fly Ash Market: Competition Landscape and Key Developments
Boral; CEMEX S.A.B. DE C.V.; HOLCIM; Waste Management, Inc.; Charah Solutions, Inc.; Salt River Materials Group; Cement Australia Pty Limited; Ashtech India Pvt. Ltd.; Titan America, LLC.; and Aceton Industries, LLP these companies have been identified as key companies operating in the fly ash market. These companies operate their production and distribution services in various countries worldwide, which helps them in catering to a wider customer base.
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