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The global fly ash market size was USD 12.25 billion in 2021. The market is projected to grow from USD 12.70 billion in 2022 to USD 19.19 billion by 2029 at a CAGR of 6.1% during the 2022-2029 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, Oil Field Service, Road Stabilization, and Others), and Regional Forecast, 2022-2029."
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 created a huge impact on leading companies' productivity. 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)
Charah Solutions formed a five-year contract with Associated Electric Cooperative Inc. (AECI). This collaboration will allow companies to simplify their ash recycling process and augment growth in the coming years. Charah Solutions will focus on the utilization of 150,000 tons per year. The ash used will be of specification grade class C, non-spec class C, boiler slag, and bottom ash.
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Rapid Urbanization in Developing Countries to Propel Growth
The market is anticipated to emerge significantly 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.
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.
Key Industry Development:
List of Key Players Covered in the Report:
Further Report Findings:
Asia Pacific holds the highest global fly ash market share due to increasing demand for the product from the cement industry. The regional market stood at USD 9.29 billion in 2021. Also, leading companies in the region are expected to fuel the regional market growth.
Based on type, the market is divided into Class F and Class C. 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 its advantages such as increased compressive strength and less heat generation.
Table of Segmentation:
Volume (Kilo Tons), Value (USD Billion)
By Type, Application, and Geography