CHICAGO, March 18, 2024 /PRNewswire/ -- The report "Rice Husk Ash Market, By Application (Building & Construction, Steel Industry, Silica, Ceramics & Refractory, Rubber), Silica Content (80-84%, 85-89%, 90-94%, and greater than 95%), Process, Product, and Region - Global Forecast to 2028", The global Rice Husk Ash Market is projected to grow from USD 2.6 billion in 2023 to USD 3.2 billion by 2028, at a CAGR of 4.5% during the forecast period.
The rice husk ash market is expected to be driven by its eco-friendly properties and diverse applications across industries such as construction, ceramics, and agriculture. Growing demand for sustainable materials, coupled with increasing awareness regarding the utilization of agricultural waste, is likely to fuel market growth.
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"By Silica content, the silica content between 85-89% accounted is expected to account for the largest share of the Rice Husk Ash Market during the forecast period, in terms of volume."
By silica type, the silica content 85-89% is estimated to have the largest market share by volume. Rice Husk Ash with silica 85-89% provides very good insulating properties, low thermal conductivity, and high melting point, making it an ideal material for various industries and segments. With these exceptional properties, rice husk ash with silica is 85-89% contributing to the growth of rice husk ash market.
"By application, building and construction are expected to account for the largest market share during the forecast period in terms of volume."
Based on application, the building and construction are estimated to account for the largest share of the market during the forecast period. This is driven by a combination of cost-effectiveness, improved concrete properties, sustainability, and versatility making rice husk ash a compelling choice for the building and construction industry. With ongoing research, development, and wider adoption, rice husk ash's potential to revolutionize sustainable construction is vast. These factors collectively indicate that the building and construction are projected to maintain its leading position in the rice husk ash market during the specified period.
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"Asia Pacific is projected to register the largest market share during the forecast period."
Asia Pacific is estimated to lead the market during the forecast period, driven by robust economic growth and substantial investments in the agricultural sectors. Notably, emerging economies like China and India have played a pivotal role in establishing Asia-Pacific as a significant market for rice husk ash. Additionally, an increase in high rice production and government support are likely to propel rice husk ash market.
Some of the leading players in this market include Usher Agro Limited (India), KRBL Ltd (India), Guru Metachem (India), Yihai Kerry Investments (China), Jasoriya Rice Mill (India), Rescon India Pvt Ltd (India) among others.
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