According to Goldstein Research, “Rising urbanization and growing environmental concerns regarding the dumping of fly ash in open environment led the government to frame policies for the usage and treatment of fly ash which in turn driving the growth of global fly ash market.” It is anticipated that cement industry players will continue to increase the production of their annual cement production in coming future owing to growing construction activities across the globe and the global cement production will grow at a CAGR of around 12% during 2016-2024.
The global fly ash market is segmented based on product and applications. Application type is further bifurcated into Portland cement, embankments, agriculture, waste treatment and bricks. Portland cement segment dominate the fly ash market and is anticipated to maintain its dominance in fly ash market over the forecast period i.e. 2016-2024. China is the major producer of Portland cement with 2,482.42 million tons of production per year followed by India and USA. China and India are the major producers of fly ash globally. Brick segment is likely to be the most attractive market in terms of growth rate.
Global fly ash market was valued at USD 4.2 billion in 2016; the market is anticipated to reach USD 6.4 billion by the end of 2024 witnessing a compound annual growth rate of 5.4% over the forecast period.
Asia Pacific region is the dominating market for fly ash followed by North America owing huge production of fly ash from thermal power plants. Growing construction sector and rising urbanization is the major factor for the significant growth of fly ash market in Asia Pacific and the region is anticipated to grow stronger over the forecast period. Agriculture sector accounted for more than 15% of fly ash market in Asia Pacific.
Environmental Concerns: Major Boost
Fly ash has numerous applications in the field of environment like treatment of waste water, construction activities etc. Utilization of fly ash has increased globally in various fields for instance going from an open, dusty transport of the fly ash or by pumping of water to a special pumping system with low water content. Government initiatives are also significantly contributing to the growth of fly ash market. For instance, China has banned the usage of clay bricks in construction which is replaced by bricks made of fly ash.
“Global Fly Ash Market Outlook 2024” contains detailed overview of the global fly ash market in terms of market segmentation by product type and by applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Fly Ash Market report also provides competitive outlook of some of the major players which includes profiling of companies such as Boral Limited, CEMEX, LafargeHolcim Ltd., FlyAshDirect, Headwaters Inc., AshTech, Ecocem Materials Ltd., Titan America etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global fly ash market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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