Fly Ash Market to Touch USD 20.47 Billion by 2030; Rising Industrialization in Developing Countries to Propel Industry Growth

The global fly ash market size was USD 12.62 billion in 2022. The market is projected to grow from USD 13.24 billion in 2023 to USD 20.47 billion by 2030 at a CAGR of 6.4% during the 2022-2029 period. The surge is driven by the growing product deployment in the production of low-cost materials such as ceramics, glass-ceramics, and glass materials. Besides, the rising demand for ceramic products owing to an increase in replacement and renovation activities is expected to drive industry expansion over the forecast period.

Fortune Business Insights™ publishes this information in its report titled, "Fly Ash Market Size, Share & COVID-19 Impact Analysis, By Type (Class F and Class C), By Application (Cement & Concretes, Fills & Embankments, Waste Stabilization, Mining, Oilfield Service, Road Stabilization, and Others), and Regional Forecast, 2023-2030."

Closure of Construction Operations Hampered the Market Growth

Due to the outbreak of COVID-19 pandemic, many construction projects were halted, which affected the fly ash market growth. Also, the manufacturing and production units were completely shut down during the initial lockdown phase, which led to a huge impact on leading companies' productivity. Besides, several governments imposed stringent restrictions on import/export activities, which directly hampered the supplies of raw materials required in the construction industry.

Charah Solutions Formed a Contract with Associated Electric Cooperative Inc. (AECI)

In November 2021, Charah Solutions formed a five-year contract with Associated Electric Cooperative Inc. (AECI). The collaboration would allow companies to simplify their ash recycling process and propel growth in the coming years. Further, Charah Solutions would focus on the utilization of 150,000 tons per year. The deployed ash is of specification grade class C, non-spec class C, boiler slag, and bottom ash.

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https://www.fortunebusinessinsights.com/industry-reports/fly-ash-market-101087

Rapid Urbanization in Developing Countries to Propel Industry Growth   

The market is anticipated to register significant growth during the projected period due to the increasing utilization of fly ash in ceramics. Furthermore, surging product demand from the construction sector is expected to fuel the market growth. Also, increasing renovation and replacement operations are projected to drive the market growth in the coming years. Rapid industrialization and commercialization activities are expected to bolster market growth during the forecast period.

However, the increasing pollution levels, carbon emissions, and greenhouse gases have shifted the focus of the governments of several countries on green sources of energy. These steps are being undertaken for the reduction of the overall environmental impact. These factors may hinder industry expansion to some extent.

Key Players to Enhance their Business Performance by Signing Business Contracts

The leading players in the global market focus on forming business agreements with supporting companies to expand their business reach and improve their performance. The companies adopt recent technologies to launch new products to meet customer demands and ensure customer satisfaction.

Notable Industry Development:

• December 2021: Boreal inked an agreement with Eco Material Technologies Inc. for the sale its North American fly ash business for a value of USD 755.0 million. The deal would help Boreal in reviving strategic focus on its Australia-based construction materials business.  

List of Key Players Covered in the Report:

• Boral Ltd. (Australia)
• Cemex S.A.B. De C.V. (Mexico)
• Holcim Ltd. (Switzerland)
• Charah, LLC. (U.S.) 
• Titan America LLC (U.S.)
• Cement Australia Pty Limited (Australia)
• Salt River Materials Group (U.S.)
• Southeastern Fly Ash Company (U.S.)
• Tarmac Holdings Limited (U.K.)
• Aggregate Industries (U.K.)

Further Report Findings:

• Asia Pacific holds the highest global market share due to increasing product demand from the cement industry. The regional market stood at USD 9.21 billion in 2021. Also, the presence of leading companies in the region is expected to fuel the regional market growth.
• Based on type, the market is divided into Class F and Class C. The Class F ash consists of silica and alumina and has lower calcium content. It is created from bituminous and anthracite coals. The Class F segment is expected to lead the market due to various advantages such as increased compressive strength and less heat generation.  

Table of Segmentation: