Fly Ash is anticipated to have CAGR of ~6.1% over 2019-2028. Fly ash is used as a supplementary cementitious material (SCM) in the construction of portland cement concrete. The supplementary cementitious material, when used in conjunction with portland cement, contributes to the properties of the hardened concrete through hydraulic or pozzolanic activity, or both. The increase in focus on the infrastructure and road paving in various developing and the developed countries would help the industry show lucrative growth during the forecast period. The steep surge in focus on the use of environment-friendly products would help the market to flourish in the coming years. The promotion of fly ash by governments of various countries is expected to contribute to market growth in the near future.
Top Driver: Growth in the Construction industry to boost the industry
Fly Ash is projected to grow with the increase in the growth in construction industry would help the industry to propel in the forecast period. The rise in the government investment over improvising the infrastructure and the road pavements to develop is anticipated to contribute to the significant market growth in the coming years. Furthermore, the surge in the population coupled with the disposable income would help the industry propel in the coming years. The initiative to prevent the disposal of fly ash to the landfills and hence utilize it for the construction industry is attributed to propel the industry in the near future.
Class F to Make Crucial Contribution to Growth of Global Fly Ash Market
Among type segments of the global Fly Ash market, Class F is anticipated to gain maximum revenue shares in the forecast period. The growth in the consumption of cement and cementitious materials from the construction sector through the globe has been driving the demand for Class F type fly ash. The key application of Class F type fly ash is in Portland cement, where it aids in mass concrete and higher strength mixes. It is suitable for concreting in summer as it moderates heat gain during concrete curing. Growing construction expenditure in the developed and developing countries has also led to an increase in the consumption of Class F type fly ash.
Increase In Measures by the Government to Benefit Asia-Pacific Market
Asia-Pacific is experiencing highest revenue growth than any other country and is anticipated to boost further in the coming years. There are various measures have been undertaken by governments of these countries for the conservation of energy which would help the industry to grow in the forecast period. The prevention of dumping fly ash into landfills and ponds resulting in the increasing utilization of fly ash and hence will boost the market in Asia Pacific. The North American fly ash market is anticipated to grow at the highest CAGR in construction sector in recent years and higher utilization rate of fly ash.
Due to outbreak of COVID-19 the Fly Ash market has observed a downfall due to the lockdown situation. The construction industry is anticipated to experience depletion in the forecast period due to the increase in the spread of infections and mortality rate.
Players to Focus on Vessel Traffic Management
The global Fly Ash market leaders include Boral Limited, Lafarge North America Inc., FlyAshDirect, Separation technologies LLC, Aggregate Industries, Salt River Materials Group, Charah Solutions, CEMEX S.A.B. DE C.V., and Ashtech Pvt. Ltd.
Boral Limited: In March 2018, Boral Limited had acquired the Carbon Burn-out (CBO) technology developed by PMI Ash Technologies, LLC that assists in improving the quality of fly ash in coal-powered power plants. This would help the company in continuing its leadership in the fly ash supply chain in North America.
Charah Solutions: In May 2018, Charah Solutions had acquired SCB International, Inc. (SCB) in order to develop and deploy innovative technologies for fly ash benefaction for sale to concrete producers, processing kiln dust to remove mercury and to grind granulated blast furnace slag to be sold to concrete producers. This will help Charah Solutions in increasing its MultiSource fly ash network and meet customer demand.
Ambuja Cement: In May 2017, Ambuja Cement had launched Ambuja Compocem, a composite cement which is made from fly ash and slag. The product is being produced at its Chhattisgarh plant and it has been introduced to markets in Bihar and Jharkland. It is being marketed to all market segments including individual house builders, real estate developers and infrastructure projects.
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