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Technavio has announced its latest market research report titled Global Fly Ash Market 2020-2024 (Graphic: Business Wire)
This report provides a detailed analysis of the fly ash market by type (Class F and Class C), application (portland cement, agriculture, road construction, fire bricks, and others), and geography (APAC, North America, Europe, MEA, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Aggregate Industries UK Ltd., Ashtech India Pvt. Ltd., Boral Ltd., CEMEX SAB de CV, Charah Solutions Inc., LafargeHolcim Ltd., Salt River Materials Group, Sephaku Holdings, Suyog Elements India Pvt. Ltd, and Titan America LLC. Growing urbanization in developing countries is a key trend in the global fly ash market which will lead to significant market growth. Developing countries such as India, China, Brazil, Malaysia, and others have observed a steady rise in the growth of the urban population over the years. This has increased the focus on the development of infrastructure in these countries, which is driving the demand for construction materials such as fly ash. All these factors are leading to a positive outlook for the fly ash market.
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Fly Ash Market: Segmentation by Geography
The market is segmented into five regions encompassing APAC, North America, Europe, MEA, and South America. APAC was the largest market for fly ash in 2019, and the region is expected to offer several growth opportunities to market vendors during the forecast period. About 43% of the market's growth will originate from APAC during the forecast period. The strong economic growth in APAC countries has increased the number of construction activities. In addition, many governments in the region are encouraging the adoption of sustainable construction practices, which is increasing the consumption of fly ash. China and India are the key markets for fly ash in APAC.
Fly Ash Market: Segmentation by Type
The fly ash market is segmented into two segments based on the type comprising of Class F and Class C fly ash. Class F was the most consumed type of fly ash in 2019. This is due to its increased use in mass concrete and high-strength mixes. It is also the most preferred fly ash for mixing concrete in summer as it moderates heat gain during the curing of concrete. These factors are creating significant growth potential in the segment.
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Fly Ash Market: Growth Drivers
Rising construction activities will drive market growth. The global construction industry is expected to grow by USD 12 trillion due to the rising number of construction activities in both developed and developing countries worldwide. For instance, in February 2018, the Government of Malaysia announced its plans to allocate USD 395.36 million for the construction of five new government projects on the island Langkawi under the 11th Malaysia Plan. Similarly, Vietnam has announced a new USD 921 million investment plan to boost the performance of industrial parks in the country. Such investment plans are increasing the demand for construction materials such as fly, which is driving the growth of the market in focus.
Fly Ash Market: Market overview
The fly ash market is fragmented with the presence of several domestic and international players. Hence, companies need to adopt advanced technologies and marketing strategies to remain competitive in the market. Aggregate Industries UK Ltd., Ashtech India Pvt. Ltd., and Boral Ltd. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, limitations of fly ash will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Market Sizing Methodology
Technavio uses a robust market sizing approach to estimate the total opportunity size for any market. Some of the examples of methodologies are shown for reference data is collected through both primary research (through industry interview with market participants and industry experts) as well as secondary research (through annual reports, press releases, company and industry presentations, industry associations, journals and in-house data repositories built over past 15 years)
Fly Ash Market: Parent Market Overview
Technavio categorizes the global fly ash market as a part of the global diversified metals and mining market within the global materials market. The parent, the global diversified metals and mining market covers companies engaged in the production or extraction of metals and minerals such as non-ferrous metals (except bauxite), salt and borate, phosphate rock, and diversified metal mining operations.
Growth in the global diversified metals and mining market will be driven by the strategic investment and divestment decisions by mining companies.
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