Fly Ash and Ceramic Microsphere Market Size Forecast to Reach $250.65 Million by 2026
Rise in Demand in Paints and Coating Segments Driving the Growth of Fly Ash and Ceramic Microsphere Market
Hyderabad, India – July 23, 2021 /MarketersMedia/ —
Fly Ash and Ceramic Microsphere Market size is forecast to reach $250.65 million by 2026, after growing at a CAGR of 3.8% during 2021-2026. A lightweight, inert, hollow sphere made of silica and alumina and filled with air or inert gas, fly ash and ceramic microspheres are traditionally created as a by-product of coal combustion at thermal power plants. It is powdery and fine-grained particulate material which is carried off and collected from flue gas by electrostatic precipitator, mechanical collection devices or bag houses. The fly ash and ceramic microsphere are used because of their varied properties like fineness, specific gravity, chemical composition, and carbon content.
COVID-19 Impact
COVID-19 has severe impact on the suppliers the revenue declined and approximately 80% of plants experienced COVID-19 related production and cost impacts. Output has been reduced to maximize cash flow, improve liquidity, and minimize cash costs where demand has slowed and sufficient inventories are available.
Fly Ash and Ceramic Microsphere Market Segment Analysis – By Particle Size
20-40 mesh held the largest share of 35% in the Fly Ash and Ceramic Microsphere Market in 2019. The typical size is finer than the cement and lime. It consists of slit size particle which are generally spherical and the typical size ranging from 10 to 100 microns.
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Fly Ash and Ceramic Microsphere Market Segment Analysis – By Application
Aggregates held the largest share of 30% in the Fly Ash and Ceramic Microsphere Market in 2019. The aggregates with the concrete mix the appropriate testing and sampling are needed as the aggregates mixed must be of very good quality and must hold mix design. The aggregates act as the representative of the material which will be used in the construction and other works.
Fly Ash and Ceramic Microsphere Market Segment Analysis – By End Use
Building and Construction Industry held the largest share in the Fly Ash and Ceramic Microsphere Market in 2019 with a CAGR of 7.2%. According to the American Society of Civil Engineers, it will take approximately $4 trillion to repair the current state of the US infrastructure by 2025. To meet future demands and to restore the country’s competitive advantage, the US federal government has agreed, in principle, to spend $2 trillion over the next 10 years, one of the biggest infrastructure investments in US history.
Fly Ash and Ceramic Microsphere Market Segment Analysis – Geography
Asia-Pacific (APAC) dominated the Fly Ash and Ceramic Microsphere Market with share of 40% in 2020 followed by North America and Europe. APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India, Japan, and South Korea are expected to grow more in the coming years.
Fly Ash and Ceramic Microsphere Market Drivers
Rise in Demand in paints and coating segments
The industrialization has led to the increase in demand for Fly Ash and Ceramic Microsphere in various industries for different purposes. The major benefit is that it reduces the weight and viscosity of the material and increases refractoriness and lubricity. The paint and coating are increasing due to rise in the new construction activity.
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Fly Ash and Ceramic Microsphere Market Challenges
Restriction in the burning of coal due to rise in environmental problems
Coal is a natural resource, and it takes million of years to form. The rise in burning of coal in power plant for the traditional way of generating electricity has now became a concern because of rise in air pollution and diseases followed by it. There is rise in demand for the usage of renewable energy resources such as wind, solar, water to protect the environment.
Fly Ash and Ceramic Microsphere Market Landscape
Major players in the Fly Ash and Ceramic Microsphere Market are Zhengzhou Hollowlite Materials, Shijiazhuang Horse Building Materials, Shanghai Yisong, Jiahui, Hebei Tongxing, Hebei Celia Minerals, Xingtai Qianjia, Hebei Hongye, Yanbian Yunming, CenoStar, Ceno Technologies, Cenosphere India Pvt, Hongtai, Omya Fillite, Ash Tech, Reslab, Durgesh Merchandise, Wolkem Omega Minerals India, Envirospheres and Others.
Acquisitions/Technology Launches/ Product Launches
In March 2020, Boral Limited acquired Headwaters Inc. The acquisition will double the revenue of the Boral USA division, bringing it up to a combined total of more than $USD1.8 billion ($AUD2.4 billion). Headwaters has two core divisions: building products – including stone, roofing, siding, trimboard and windows – and construction materials. It will strengthen the business segment and geographical expansion of Boral Limited.
Key Takeaways
Asia Pacific dominates the Fly Ash and Ceramic Microsphere Market owing to rapid increase in building and construction Industry.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Fly Ash and Ceramic Microsphere Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Fly Ash and Ceramic Microsphere Market related industries has been negatively affected, thus hampering the growth of the market.
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Source: MarketersMedia
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