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Albany, New York, Aug. 27, 2019 (GLOBE NEWSWIRE) -- A recent report on global rice husk ash market claims that the global rice husk ash market is expected to experience a major growth during the forecast period of 2017 to 2025. The market is expected to witness this growth owing to the rising application of rice and husk ash in industries such as construction, steel manufacturing, ceramics, and silica manufacturing. Moreover, the growth of the market is also because of factors such as cost-effective supplement for cementing agents and various high performance characteristics of rice husk ash is also expected to fuel the growth of global rice husk ash market in the forecast period.
Market to Experience 5.0% CAGR in the Forecast Period
According to the report, the global rice husk ash market is expected to witness a growth of 5.0% CAGR. This growth of the market is attributed to the rising application of rice husk as in various industries such as building and construction, steel forging, ceramic and silica manufacturing.
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Moreover, the report also predicts that the global rice husk as market is expected to reach to the value of US$ 1.64 Bn at the end of 2025. This revenue generation of the market is the various leveraged opportunities such as acquisition of various clients that are into building and construction industry. Also, making the business easily available to the customers for purchasing rice husk ash for their business is expected to help the market to generate projected revenue.
According to the historical analysis of the global rice husk ash market, the experts at Transparency Market Research states that the market stood at US$ 1.06 Bn at the end of 2016.
The insight from the report can help the businesses to have clear picture about the dynamics of the market. These insights can help the players to make better decision and generate better profit in global rice husk ash market.
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Rising Application in Construction Industry to Fuel the Growth of the Market
The report projects that the growth of the market is attributed to the factors such as rising application of rice husk ash in building and construction, ceramic, and silica manufacturing industry. Moreover, the growth of the market is also the result of technologies such as automation, IoT, and Machine Learning used to produce rise husk ash by various manufacturers across the globe.
Furthermore, lucrative opportunities such as growing rusk husk ash demand in emerging industries such as power generation also supports the pacing momentum or the growth of global rice husk ash market. The application of rice husk ash as a sustainable replacement for cementing agent is yet another factor that is expected to influence the growth of global rice husk ash market in forecast period of 2017 to 2025.
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Asia Pacific to Emerge as Dominating Region for the Market
Geographically, Asia Pacific is expected to exhibit maximum potential for the players of global rice husk ash market. The growth of the region is the result of emergence of various economies such as India in the field of construction. The easy availability of raw materials in various countries of the region is also attracting various players to set up their business in the region. This as a result, is also expected to support the dominance of Asia Pacific in the rice husk ash market during the forecast period of 2017 to 2025.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Rice Husk Ash Market (Product - Nodules, Powder, and Granules; Application - Building & Construction, Steel Industry, Ceramics & Refractories, and Silica Manufacturing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
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The global rice husk ash market is segmented on the basis of:
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