PozzolanMarket: Introduction
The global pozzolan market wasvalued at ~US$ 57 Bn in 2018 andis anticipated to expand at a CAGR of 5% duringthe forecast period. Among material types, the artificial pozzolan segmentdominated the global pozzolan market in 2018. Artificialpozzolan is a byproducts or wastes of various industrial processes, such as flyash and slag, which are used as pozzolanic materials in the cement industry.Rise of investments in the industrial sector is likely to drive the productionof artificial pozzolan during the forecast period. Among end uses, theresidential segment accounted for a dominant share of the global pozzolanmarket in 2018. This can be primarilyascribed to increase in investments in the global residential sector. Inaddition, the demand for green and sustainable construction materials isestimated to boost the global demand for pozzolan in the near future.
Thepozzolan market in Asia Pacific is estimated to expand at a substantial paceduring the forecast period, owing to rapid development of infrastructure,growth in urbanization, and increase in the purchasing power of consumers inthe region.
Key Drivers of Pozzolan Market
Growth ofthe global construction industry is estimated to boost the global pozzolanmarket during the forecast period. According to the World Economic Forum, theglobal construction industry employs more than 100 million peopleworldwide and accounts for 6% of theglobal GDP. The global construction industry is estimated to expand at a CAGRof 4.2%,in terms of value, between 2018 and 2023. Theglobal industry is witnessing increasing opportunities from residential,nonresidential, and infrastructure projects. This, in turn, is likely to fuelthe global market for pozzolan during the forecast period. Moreover, the demandfor cement is increasing worldwide, owing to rising population,industrialization, and urbanization. Concrete is the most widely used manmadematerial on the earth. On an average, every person consumes almost 2.3 cubicyards of concrete worldwide every year. The use of pozzolanic materials reducesemissions of carbon dioxide, which is a leading greenhouse gas (GHG)responsible for global warming. Pozzolanic materials exhibit good mechanicalstrength and excellent stress-strain behavior when used as additives orsubstitutes for cement. Thus, the demand for pozzolanic materials from thecement industry is high for their use in sustainable construction. This, inturn, is anticipated to boost the global pozzolan market during the forecastperiod.
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Asia Pacific Offers LucrativeOpportunities to Pozzolan Market
AsiaPacific is anticipated to be a highly attractive region of the global pozzolanmarket during the forecast period. The market in Asia Pacific is estimated toexpand at a significant pace between 2019 and 2027, asthe construction industry in the region is growing due to rising population.Investments in urbanization and industrialization are increasing. In countriessuch as China, India, South Korea, and Singapore, the development ofinfrastructure is rising. Also, generation of artificial pozzolan, such as flyash and blast furnace slag, in the region is high.
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Major Developments in PozzolanMarket
On September6, 2018, Boral Resources acquired 4.5million tons of pozzolanic deposits located in centralUtah, which would be processed for blending with fly ash to extend supplies forthe concrete industry in Western states. The material was contained in largesurface piles, which were immediately accessible for excavation. The materialcan be blended with the fly ash sources to increase the volume ofconcrete-quality pozzolan available in the market in Western states.
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Competition Landscape of PozzolanMarket
The globalpozzolan market is highly fragmented. Various international as well as localplayers hold a significant share of the global market. Key players operating inthe global pozzolan market are Charah Solutions, Inc., SunriseResources plc, Kirkland Mining Company, I-Minerals Inc., Burgess PigmentCompany, Nevada Cement Company, IMERYS, Hess Pumice Incorporated, CR Minerals Company,LLC, Vulcan Ceramics Co Pvt Ltd, and CARBO Ceramics Inc.
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