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Fly Ash Market Size Worth USD 45.73 billion by 2028 with 4.8% of CAGR by 2028
Fly ash is the by-product extracted from coal-fired power plants, which is added to the building material to make it more eco-friendly. Fly ash concrete has the ability to curb carbon emissions while developing a durable infrastructure. The products of fly ash do not require high-temperature processing but feature the same compressive strength as cement. It has been used as a premium substitute for portland cement in the construction industry.According to The Insight Partners' research, The fly ash market was valued at US$ 32.83 billion in 2021 and is projected to reach US$ 45.73 billion by 2028; it is expected to grow at a CAGR of 4.8% from 2021 to 2028. Growing preference for greener construction material substitutes and increasing government initiatives for the utilization of industrial by-products are the parameters stimulating the market growth.
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The prominent players profiled in the global fly ash market report are Ashtech India Pvt. Ltd; Boral Limited; Cemex S.A.B. De C.V.; Hi-Tech Flyash (India) Private Limited; Lafargeholcim Ltd; Salt River Materials Group; Sephaku Cement; Tarmac (CRH Group); The Sefa Group; Titan America LLC; Charah Solutions, Inc.; and Flyashdirect.
• In January 2019, Boral Limited acquired marketing rights for fly ash produced at two large coal-fuelled power plants in Mexico. These plants are capable of producing more than 1 million tons of concrete quality class F fly ash annually, which will be distributed by Boral's extensive western United States network.
• In April 2016, Salt River Materials Group (SRMG) received Ash Marketing Agreement for its Coronado Generating Station. This agreement enabled the company to market 180,000 tons of total ash (fly and bottom ash) produced annually.
• In April 2019, Tarmac transformed its logistics capabilities and delivery processes with the help of digital delivery tracking system. The company introduced automated electronic proof of delivery (ePOD) process across its 1,900 strong fleet of UK vehicles.
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Despite the aiding factors, sluggish adoption rate among the local builders and disadvantages of using fly ash in concrete mixture hurdle the growth of global fly ash market.
On the basis of type, the market is categorized into type C and type F. The latter occupied 58.0% market share in 2018. It garnered US$ 3,982.6 million in 2018 and is anticipated to amass US$ 7,576.9 million by 2027 to grow at 7.5% CAGR during 2019-2027.
As per the application, the market is segmented into portland cement & concrete, bricks & blocks, road & embankment construction, agriculture, and others. With 38.4% share of the business, the Portland cement & concrete segment led the market in 2018. It generated US$ 2,635.1 million in 2018 and is slated to accrue US$ 5,070.5 million by 2027 to rise at 7.6% CAGR along the forecast period.
Our regional analysis states that Asia Pacific captured 33.7% market share in 2018. It was evaluated at US$ 2,312.6 million in 2018 and is projected to hit US$ 4,969.0 million by 2027, surging at 8.9% CAGR over the forecast period. The Europe market is growing at the fastest pace with 9.7% CAGR. It accounted a total revenue total of US$ 1,779.5 million in 2018 and is predicted to be worth US$ 4,050.8 million by 2027.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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