Step 1: Identify which of the given materials is an industrial waste product.
- Lime: A naturally occurring material used in construction, but not a waste product.
- Sand: A naturally occurring granular material, not an industrial byproduct.
- Brick: Manufactured from clay and other materials but not classified as industrial waste.
- Fly Ash: A fine powder byproduct from coal combustion in thermal power plants, widely used in construction.
Step 2: Fly ash is utilized in the production of cement, concrete, and bricks due to its binding properties and environmental benefits.
Thus, the correct answer is option B (\textit{Fly Ash}).