Fly Ash Market Set to Reach $45.73 Billion by 2028: COVID-19 Impact and Global Analysis

Asia Pacific Leads the Global Fly Ash Market with Increasing Infrastructure Developments

NEW YORK, UNITED STATES, April 27, 2023 /EINPresswire.com/ -- Our recent study on the "Fly Ash Market Forecast to 2028" has provided valuable insights into the growth of the fly ash market. The study has analyzed the impact of the COVID-19 pandemic on the market and has identified the factors fueling the market growth.

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According to our analysis, the increasing demand for concrete and cement is expected to drive the growth of the fly ash market. Fly ash is widely used as a substitute for cement in concrete production, and the growing construction industry is expected to lead to an increase in the demand for fly ash.
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.

Fly ash is produced as a residue in combustion and contains fine particles such as silicon dioxide, aluminum oxide, ferric oxide, and calcium oxide (sometimes). It is a fine gray powder that has pozzolanic properties, and it can react with lime to form cement compounds that are used in a wide range of applications such as cement and concrete mixing, mines and dams, landfills, and geopolymer concrete. Fly ash improves the performance of the concrete upon mixing and also acts a catalyst for converting polyethylene during pyrolysis.

Based on application, the fly ash market is segmented into cement and concrete, block and brick, mining, road stabilization, fills and embankments, waste stabilization, and others. The cement and concrete segment held the largest share of the market in 2020. Fly ash is used as a supplementary cementitious material (SCM) to manufacture Portland cement concrete. Compared to Portland cement concrete of the same workability, the use of excellent-quality fly ash with high fineness and low carbon content reduces the water demand of concrete. Moreover, the heat of hydration of concrete can be reduced by replacing cement with the same quantity of fly ash. The rapid popularity of using fly ash in concrete to achieve high-performance and strength is one of the crucial factors driving the market for the cement and concrete segment.

The fly ash market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), Oceania, and South America (SAM). In 2020, Asia Pacific held the largest share of the market. The market growth in this region is attributed to increasing infrastructural developments, such as the development of rail networks, fly overs, and highways; rising activities in residential and commercial construction; and high emphasis of governments and other regulatory bodies on recycling and reutilizing fly ash. Governments in countries such as India, China, and Japan have taken various initiatives to save energy and avoid dumping fly ash into landfills and ponds, resulting in the increased use of fly ash in concrete and Portland cement. Therefore, the growth of the fly ash market in Asia-Pacific is driven by rising government infrastructural development projects and increasing utilization of fly ash-based concrete for the construction of new infrastructures in the region.

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Impact of COVID-19 Pandemic on Fly Ash Market

The COVID-19 ongoing pandemic has drastically altered the chemicals & materials sector's status and limited the fly ash market growth. The implementation of measures to combat the spread of the virus has aggravated the situation and impacted the growth of several industrial sectors. Many of the thermal power plants were not operational or operating at a lower capacity. This has negatively impacted fly ash production. Reduced economic activity has resulted in less demand for new commercial or industrial facilities. The loss of income and lack of consumer confidence have lowered the demand for housing construction. Also, the construction sites exhibited suboptimal performance due to disrupted supply chains and operational restrictions. However, as the economies are planning to revive their operations, the demand for fly ash is expected to rise globally. Moreover, the previously postponed construction projects are ready to resume, which is further providing opportunities for the fly ash market players to regain normalcy. 

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The report segments the fly ash market as follows:

Based on type, the fly ash market is segmented into type F and type C. Based on application, the market is segmented into cement and concrete, block and brick, mining, road stabilization, fills and embankments, waste stabilization, and others. Based on geography, the fly ash market is primarily segmented into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), Oceania, and South & Central America (SAM)

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