Global growth in the supplementary cementitious materials market is expected to depend heavily on the global construction sector, according to BCC Research latest report, Supplementary Cementitious Materials: Global Markets and New Technologies.
Its latest report says global infrastructure development, particularly in emerging economies in Asia-Pacific, Latin America, Africa and the Middle East, should drive demand for supplementary cementitious materials.
Supplementary cementitious materials are added to concrete mixtures and other building products to improve both their microstructure and resistance to environment hazards. Fly ash, ground granulated blast-furnace slag and silica fumes are the most commonly used types of supplementary cementitious materials.
The global supplementary supplementary cementitious materials market, valued at $79.2 billion in 2015, should reach $103.2 billion by 2020, reflecting a five-year compound annual growth rate (CAGR) of 5.4%. Fly ash as a segment totaled $75 billion in 2015, and should reach $98 billion by 2020 with a five-year CAGR of 5.5%. Slag cement as a segment, which reached $4 billion in 2015, should total $5 billion by 2020 with a five-year CAGR of 4.1%.
Fly ash accounted for a significant share within the global supplementary cementitious materials market in 2014, accounting for over 70% of the volume and almost 95% of the revenue. Extensive utilization of fly ash in a host of industries, including construction and agriculture, should drive market demand. Increasing awareness among consumers regarding the benefits of using fly ash as a partial substitute for cement, which helps in lowering overall costs as well as reducing carbon footprints, is expected as another key market driver.
Within the global fly ash market, Asia-Pacific was the largest market, followed by North America. Abundant availability of the product has resulted in huge demand in these regions. In addition, relatively relaxed regulations regarding the use of fly ash in Asia-Pacific drove high consumption of the product. This trend should continue over the forecast period.
In 2014, Asia-Pacific was the largest producer as well as consumer of supplementary cementitious materials. The region accounted for 68.3% of the global volume market in the same year. Rapid industrialization in the region has resulted in expansion of the infrastructure sector, leading to a huge demand for supplementary cementitious materials. In addition, rising awareness regarding the economical, mechanical and chemical benefits of using supplementary cementitious materials in concrete mixtures has resulted in bolstering market demand.
“The positive economic outlook in Asia-Pacific, particularly China and India, is expected to drive demand for SCM in the region over the forecast period,” says BCC Research analyst Tanmay Joshi. “The focus of these two countries on infrastructure development is expected to augment demand for cement mixtures that include SCMs. China and India have included infrastructure development as a key focus area in each of their five-year plans.”