Fly Ash Market to 2022
According to a market report published by Credence Research, “Fly Ash Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022,” the fly ash market was valued at US$ 39.54 Bn in 2015, and is expected to reach US$ 64.76 Bn by 2022, expanding at a CAGR of 7.3% from 2016 to 2022.
Pozzolan is the name coined after the small Italian town of Pozzuoli where hydraulic cement was produced over 2000 years ago. Pozzolans are siliceous or alumino materials which have the ability of forming cementious compounds. Fly ash, a Pozzolan which is in the form of fine powder, is the most commonly used material by the construction industry, hence, growing constructional activities have created strong demand for fly ash from the building and construction industries on a global scale. It is also used as a soil stabilizer in the agriculture sector and in the production of decorative glass and other applications.
Growing urbanisation is among the major factors driving the growth of the global fly ash market. Rising disposable income has led to increased demand for property. There is a strong demand for fly ash in the market due to its strength, long term durability and improved quality of finished product. The increased use of environmental friendly products has also boosted market for fly ash as it is proven to be 'green' building material (reference needed here).
Portland cement accounted for the larger share of global fly ash market in 2015. Portland cement when mixed with water forms insoluble cementious compounds. On addition of fly ash, additional cementious compounds can be produced which provide a number of benefits to the final product (examples needed).
Portland cement is expected to be the largest application segment of fly ash market and is projected to retain its position during the forecast period. Road constructions and fire bricks are expected to follow portland cement in terms of growth. Agriculture accounted for more than 14% of the global fly ash market and is expected to experience steady growth in the near future due to the substitutes available for soil stabilization. Decorative glass and other applications are also anticipated to demonstrate market growth for fly ash during the forecast period from 2016 to 2022.
Key players dominate the global fly ash market making the entry of new players difficult. Major players are focused on improving their market strategies and adopting new technologies for improving their product portfolio.
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