Fly Ash Market- Asia Pacific Region is Expected to Register a Significantly Faster Revenue Growth rate over 2027, Finds MarketsandMarkets™

2022-10-11 08:44:13 UTC | Business, Economy, Finances, Banking & Insurance
Fly Ash Market- Asia Pacific Region is Expected to Register a Significantly Faster Revenue Growth rate over 2027, Finds MarketsandMarkets™

The fly ash market share is expected to grow from USD 3.4 billion in 2018 to USD 5.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period. The major driving factors for the fly ash market are the growth in the construction industry, increasing focus on infrastructure and road paving, promotion of fly ash by the governments of various countries, and increasing focus on the use of environment-friendly products.

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The fly ash market has grown at a moderate pace over the past five years owing to the increase in demand of fly ash for Portland cement & concrete and bricks & blocks applications. Currently, the fly ash market is dominated by various key players, such as Boral Limited (Australia), CEMEX S.A.B. de C.V. (Mexico), Lafarge North America Inc. (US), Charah Inc. (US), Separation Technologies LLC (US), Aggregate Industries (UK), FlyAshDirect (US), Salt River Materials Group (US), and Ashtech (India) Pvt. Ltd. (India).

Merger & acquisitions and expansions were the most preferred development strategies followed by companies to improve their presence in the fly ash market. In May 2018, Charah Solutions acquired SCB International, Inc. (SCB) to develop and deploy innovative technologies for fly ash benefaction for sale to concrete producers, processing kiln dust to remove mercury, and to grind granulated blast furnace slag to be sold to concrete producers. This will help Charah Solutions in expanding its MultiSource fly ash network and meet customer demand. 

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Boral Limited is a global distributor and manufacturer of building and construction materials. The company operates through four divisions, namely, Boral Construction Materials & Cement, Boral Building Products, Boral USA, and Boral Gypsum. In March 2018, Boral Limited acquired the Carbon Burn-out (CBO) technology developed by PMI Ash Technologies, LLC that helps in improving the quality of fly ash in coal-powered power plants. This helped the company in maintaining its leadership in the fly ash supply chain in North America. In November 2016, Boral Limited acquired Headwaters Incorporated to improve its presence in the US market. This will improve the company’s position in the fly ash market, as Headwaters Incorporated is the biggest fly ash company in the US. In February 2014, Aggregates Industries acquired the remaining 15% of shares in Ash Solutions. This improved the company’s capability to provide sustainable construction solutions to its customers in the UK. 

Charah Solutions is a leading provider of power plant support services and coal combustion product management for the coal-fired power generation industry across the US. These services include gypsum management, ash pond management, dry fly ash conversion, structural fill projects, and landfill design and management. Agreements were undertaken in the past few years by Charah Inc. and Headwaters Incorporated. In October 2016, Charah Inc. entered into an agreement with Dynegy Inc. to manage Coal Combustion Products (CCPs) produced by two Dynegy Inc. facilities in Ohio, US. Charah would sell and market Class F fly ash to concrete and ready-mix concrete manufacturers.

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The Asia Pacific is estimated to account for the largest share of the market in 2018. The Asia Pacific market includes China, India, Japan, Australia, and Indonesia. Various measures have been taken by the governments of these countries for energy conservation and dumping of fly ash into landfills and ponds, resulting in increasing use of fly ash and driving its demand in the region.

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