The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Fly Ash Market.
It was estimated prior to this unanticipated outbreak that the Fly Ash Market was expected to grow at a CAGR of 5.8% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
The major factors contributing to the demand for fly ash are mainly the growing construction industry, increase in focus on infrastructure and road paving, issues pertinent to dumping fly ash, promotion of fly ash by governments of different countries, and growing attention on the use of eco-friendly products.
Fly ash is a fine powder residue that results from the combustion process of pulverized coal in electric generation power plants. It can improve the working capacity of concrete and also the strength and durability of the concrete.
Fly ashes are of two types, that is class F and class C, and are used in a variety of applications such as Portland cement and concrete, road construction, bricks and blocks, agriculture, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the type, the fly ash market is segmented as class F and class C. The class F segment is estimated to be the faster-growing segment during the forecast period. Portland cement is the main application of class F type fly ash. It is used in mass concrete and high strength mixes and is also appropriate for concreting in summer as it moderates heat gain during the process of concrete curing. The increasing consumption of cement and cementitious materials from the construction sector across the globe has been majorly driving the demand for class F type fly ash. Rising construction expenditure in China and India has also given rise to the consumption of class F type fly ash.
Based on the application type, the market is segmented as portland cement and concrete, road construction, bricks and blocks, agriculture, and others. Concrete made up of fly ash is a little lower in strength than the normal cement concrete of up to 30 days, around equal in strength with the concrete of up to 30-40 days, and higher in strength than the normal cement in around a year’s time. Fly ash concrete has lesser efflorescence and permeability than normal concrete.
The growing demand for residential and non-residential buildings has led to the increase in construction expenditure in the Asia-Pacific region. The governments of the countries such as India, Malaysia, China, and Indonesia are investing in infrastructure development, including the construction of new highways and freeways, as a result driving the growth of the portland cement & concrete segment.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for fly ash during the forecast period with lucrative growth opportunities. The increasing population in this region is taxing the current infrastructure and leading to the requirement for additional developments in the residential buildings, roadways, and the rail networks. There is a significant need to invest in the additional infrastructure to reduce the gap between the existing and the required infrastructure in the region.
Hence, the growth of the global fly ash market in the region is expected to be driven by the road infrastructure projects by the governments of the Asia-Pacific countries. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major fly ash manufacturers are-