The rapid growth in the number of construction activities around the world, is enhancing the market demand during the forecast period. The construction sector across the globe has been witnessing a rapid growth, predominantly in the Asian countries such as India and China. In India, the market size of construction industry is approximately USD 38 million, which is increasing each year. Consequently, the demand for fly ash witnessed an increase, over the past few years. In addition, the global construction industry is witnessing an upsurge on the back of rising prevalence of skyscrapers and commercial facilities across various developing regions. For instance, the global construction sector is anticipated to grow by 85%, in terms of volume, by 2030. The countries such as the US, China, and India, are expected to significantly contribute to this growth. Moreover, factors such as durability, low prices, and scarcity of natural resources are augmenting the demand of fly ash in the construction sector.
Furthermore, emerging innovations in terms of applications of fly ash in various fields coupled with R&D activities are also expected to foster the market growth.
Get more information on this report: Download Sample PDF
Fly ash, also referred as pulverized fuel ash, is a combustion product of coal. It contains aluminous and siliceous material that forms cement in the presence of water.
The global fly ash market is segmented into 5 major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, the market in Asia Pacific held the largest market share of 70.86% in 2017. Rising infrastructure development in the region honed by a wide number of domestic rural and urban road-development mega projects in the region. The overhauling of the economy primarily depends on the infrastructure to provide secondary support to the industries. Also, elevation in the demand of fly ash amongst the industry is greatly propagated to subside the cost of construction.
Concurrently, the market in Europe held second largest market share, across the globe. The perseverance of the market is distinguished due to the elevation in the improvement of infrastructure across the countries in Europe. The higher rate of utilization of fly ash in cement and agriculture would further boost the market growth, over the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC, Hungary, Turkey, Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa).
The global fly ash market is bifurcated by product into class F and class C. The Class F segment held a major share of 59.58% in 2017 and is estimated to grow at a CAGR of 7.29% during the forecast period.
In terms of application, the global market is segmented on the lines of Portland cement, road construction, fire bricks, agriculture, decorative, and others, out of which the Portland cement segment held the largest market size in 2017.
The growth of the fly ash market is significantly driven by the high-end properties of fly ash. The high strength and advanced material properties of the fly ash along with its attributes such as economical and environment friendly in nature, are some of the major factors that result in the rising popularity of fly ash in the construction industry. It is also used for landfilling applications in various countries on the back of large-scale availability. Additionally, the high degree of thermal resistance of fly ash helps the buildings to resist from cracks. Moreover, the shrinkage of fly ash is very less, which allows the construction players to prefer it instead of cement. Moreover, fly ash is used in concrete to enhance the strength of skyscrapers and to protect it from cracking. Such rising applications is anticipated to propel the global demand for fly ash.
Furthermore, surge in global urbanization is paving new opportunities for fly ash industry players to meet the enhancing demand amongst various industries.
Boral Limited, Ashtech India Pvt Ltd., Cenin Ltd., LafargeHolcim Ltd., Headwaters Inc., Tosoh Corporation, Titan America LLC, Cemex, Separation Technologies, and Charah Inc are some of the leading players in the global fly ash market.
Boral Limited is an Australia-based company, which is engaged in the provision of building and construction materials. The company’s products include ash, blocks, cement, concrete and timber flooring. The company also improvised its operations to meet the rapidly increasing demand in the construction industry.
Additionally, the market players are increasingly adopting innovative ways to establish themselves in the fragmented and competitive market. Concurrently, new players in the market are also adopting the advanced strategies in order to increase their product portfolio and gain a global prevalence in the market.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel