Type C Segment to Dominate North America Fly Ash Market During 2021–2028
According to The Insight Partners market research study on “North America Fly Ash Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 5,231.50 million by 2028 from US$ 3,807.15 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the North America fly ash market along with the drivers and restraints pertaining to the market growth. Growing use of fly ash for various applications and growth in construction industry are the major factor driving the growth of the North America fly ash market. However, dearth of awareness about the benefits or potential uses of fly ash hinders the growth of North America fly ash market.
In case of COVID-19, North America is highly affected specially the US. The unprecedented rise in the number of COVID-19 cases across the US and Canada and the subsequent lockdown of numerous manufacturing facilities in the countries have negatively influenced the growth of the various markets. According to the Energy Information Administration (EIA), US coal production fell to its lowest level since 1965 in 2020 due to low worldwide demand after the COVID-19 pandemic. This has impacted the fly ash market in the region. Moreover, the construction industry has been adversely impacted by the COVID-19 pandemic in the US. The construction industry has faced supply chain issues in terms of the supply of construction materials. However, the market is reviving on account of the government's significant measures such as vaccination drives. The construction industry is also overcoming the challenges of supply chain disruptions of their raw materials. This is expected to provide the impetus for market growth.
The North America fly ash market is segment based on type, application, and country. The North America fly ash market is segmented on the basis of type, into type F and type C. The type c segment dominated the North America fly ash market in 2020 and same segment is expected to be fastest growing during forecast period. Based on application, the North America fly ash market is segmented into cement and concrete, block and brick, mining, road stabilization, fills and embankments, waste stabilization, and others. The cement and concrete segment dominated the North America fly ash market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the US and Canada.
Aceton Industries, LLP; Ashtech India Pvt. Ltd; Boral; CEMEX S.A.B. DE C.V.; Charah Solutions, Inc.; HOLCIM; Salt River Materials Group; Titan America, LLC.; and Waste Management, Inc. are among the leading companies in the North America fly ash market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, CEMEX, S.A.B. de C.V. signed an agreement with Carbon Upcycling Technologies to improve the processing of residue or by-products of industrial processes, capturing CO2 emissions to produce nanomaterial with greater reactivity and a lower carbon footprint. The technology developed together by both the companies is expected to significantly increase industrial by-products availability with cementitious qualities, like fly ash and slag, to produce concretes with a low CO2 footprint.
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