Ground Granulated Blast-Furnace Slag Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, India, Japan, Russia - Size and Forecast 2024-2028

Ground Granulated Blast-Furnace Slag Market Size 2024-2028

The ground granulated blast-furnace slag market size is forecast to increase by USD 1.39 billion at a CAGR of 2.99% between 2023 and 2028.

• The ground granulated blast-furnace slag (GGBFS) market is experiencing significant growth due to the increasing demand for sustainable building materials. Alkalinity blast-furnace slag, a byproduct of the iron-making process, is gaining popularity in cement production as it enhances cementitious qualities, improving concrete performance and engineering properties. Additionally, acidic blast-furnace slag is used as concrete aggregate and roadbed material due to its excellent chemical resistance.
• However, the market faces challenges such as the ongoing economic slowdown in China, which is a major consumer of blast-furnace slag, and the volatility in raw material prices. These factors may impact the market growth but are expected to be mitigated by the continuous research and development in the utilization of blast-furnace slag in various applications. The market trends and analysis report provide insights into these growth factors and the future outlook for the industry.

What will be the Ground Granulated Blast-Furnace Slag Market Size During the Forecast Period?

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• Ground Granulated Blast-Furnace Slag (GGBFS) has emerged as a significant supplementary cementitious material (SCM) in the US construction industry. This mineral byproduct from the iron-making process offers several advantages in the production of Portland cement, roads, bridges, and buildings. The use of GGBFS in construction materials contributes to sustainable practices by reducing carbon emissions. In the iron industry, raw iron production results in substantial greenhouse gas emissions, primarily from the combustion of limestone, iron ore, and coke. GGBFS production, however, is an integral part of the iron-making process, making it a byproduct rather than an additional source of emissions. GGBFS is rich in calcium oxide (CaO), silicon dioxide (SiO2), aluminum oxide (Al2O3), magnesium oxide (MgO), and minor oxides. These chemical components enhance the cementitious qualities of Portland cement, improving concrete performance and engineering properties. The incorporation of GGBFS into concrete not only offers superior engineering properties but also provides resistance to chemical attacks, sulfate ingress, and thermal cracking.
• Additionally, this makes it an ideal choice for various applications, including roads, bridges, and buildings. The iron-making process generates substantial quantities of GGBFS, making it an abundant and cost-effective alternative to traditional cementitious materials. The use of GGBFS in construction materials also contributes to the reduction of carbon footprint by decreasing the demand for limestone, a primary component of Portland cement. In conclusion, the adoption of Ground Granulated Blast-Furnace Slag as a supplementary cementitious material in the US construction industry offers numerous benefits. It contributes to sustainable construction practices by reducing carbon emissions, enhancing cementitious qualities, and improving concrete performance. The availability and cost-effectiveness of GGBFS make it an attractive alternative to traditional cementitious materials.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Portland cement and concrete
  • Bricks and blocks
• Type
  • Alkalinity blast-furnace slag
  • Acidic blast-furnace slag
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
  • North America
    • US
  • Middle East and Africa
  • South America

By End-user Insights

• The portland cement and concrete segment is estimated to witness significant growth during the forecast period.

The use of Ground Granulated Blast-Furnace Slag (GGBFS) as Supplementary Cementitious Materials (SCMs) in the production of Portland cement and concrete is a growing trend in the construction materials industry. GGBFS, derived from the steel industry, offers several advantages when blended with Portland cement. In terms of sustainability, the use of GGBFS in construction materials contributes to reducing carbon footprint. This is because the production of GGBFS from steel slag results in fewer greenhouse gas emissions compared to the production of traditional cement. GGBFS is commonly used in the production of roads, bridges, and buildings, as it enhances the durability and strength of concrete structures.

Additionally, concrete made with GGBFS sets more gradually than concrete made with Portland cement, allowing for better workability and reducing the risk of cracking. Additionally, GGBFS-based concrete continues to gain strength over an extended period, providing long-term benefits in terms of structural integrity. The inclusion of GGBFS in cement also increases its overall strength, making it an attractive option for construction projects that require high-performance materials. Furthermore, GGBFS-based concrete and cement exhibit increased resistance to chloride and sulfate, ensuring a longer lifespan for structures. As the construction industry continues to prioritize sustainable practices and reduce carbon emissions, the demand for GGBFS as a supplementary cementitious material is expected to rise.

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The Portland cement and concrete segment was valued at USD 5.45 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 76% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia Pacific (APAC) is experiencing significant growth due to the increasing construction activity in countries like India, China, and Japan. This market expansion is driven by the rising demand for new infrastructure projects to accommodate the growing urban population's residential and commercial needs. For instance, the M6 Motorway Expansion project in Australia and the Sarawak-Sabah Link Road project in Malaysia are notable examples of such infrastructure developments. The M6 Motorway Expansion project, which started in Q4 2021 and is scheduled for completion in Q4 2025, involves the expansion of a 23-kilometer section of the M6 Motorway in Southern Sydney, New South Wales.

Similarly, the Sarawak-Sabah Link Road project aims to construct a 425-kilometer road connecting Sarawak and Sabah. The ground granulated blast-furnace slag's pozzolanic properties make it an ideal additive for cement production. Its sulfide content enhances the cement's strength and improves its surface finishing and protection qualities. The addition of calcium hydroxide further boosts the cement's setting time and workability. Tata Steel, a leading iron and steel company, is a significant producer of ground granulated blast-furnace slag. In the construction industry, ground granulated blast-furnace slag is used as a partial cement replacement, reducing the overall cement consumption and making the construction process more eco-friendly. Its use in OPC cement production results in improved workability, enhanced compressive strength, and better durability. As a result, the market is poised for steady growth in APAC during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Ground Granulated Blast-Furnace Slag Market?

Rising demand for sustainable building materials is the key driver of the market.

• Ground granulated blast-furnace slag (GGBFS) is witnessing significant demand due to its eco-friendly properties in various industries, including construction and building. The increasing emphasis on reducing carbon emissions has led to the adoption of sustainable building materials, with GGBFS being a top contender. The global market for ground granulated blast-furnace slag is gaining traction as governments promote the use of eco-friendly materials for sustainable construction. GGBFS offers several advantages over traditional Portland cement in terms of strength, durability, and environmental friendliness. These properties make it an attractive option for numerous construction projects, such as the building of nuclear power plants, bridges, and pavements.
• Furthermore, the transportation system, automobiles industry, real estate industry, aircraft industry, defense, and ship building industry are also exploring the potential of GGBFS as a sustainable alternative. The upcoming infrastructure developments, including the construction of new facilities and the expansion of existing ones, are expected to provide ample opportunities for market growth. Salt solutions, such as calcium CA(OH)2, are commonly used in the production of GGBFS, making it an eco-friendly choice. Overall, The market is poised for growth as industries seek sustainable solutions for their construction needs.

What are the market trends shaping the Ground Granulated Blast-Furnace Slag Market?

The ongoing slowdown in the Chinese economy is the upcoming trend in the market.

• Ground granulated blast-furnace slag (GGBFS) is a byproduct of the iron production process, widely used as a sustainable and eco-friendly alternative in various industries, including cement manufacturing and ready-mix concrete production. In the US market, the demand for GGBFS is growing due to its ability to reduce the negative environmental effects associated with conventional building materials. Sulfate ingress and thermal cracking are significant concerns in the use of GGBFS, which can be mitigated through advanced grinding techniques. Cement manufacturers and building supply companies are increasingly adopting GGBFS as green building materials in line with sustainable building practices.
• However, the potential risk of sulfate ingress and thermal cracking may impact the market growth. Proper handling and application techniques are essential to ensure the optimal performance of GGBFS. The US is expected to remain a significant market for GGBFS due to its large construction industry and growing focus on green building materials. Key players in the market include cement manufacturers and suppliers, focusing on innovation and product development to cater to the evolving market demands.

What challenges does Ground Granulated Blast-Furnace Slag Market face during the growth?

Volatility in raw material prices is a key challenge affecting the market growth.

• Ground granulated blast-furnace slag (GGBFS) is a by-product of the iron-making process, which exhibits cementitious qualities and is used in various applications such as cement production, concrete aggregate, and roadbed material. The alkalinity of blast-furnace slag plays a crucial role in its cementitious properties, enhancing concrete performance and engineering properties. However, the market for ground granulated blast-furnace slag faces challenges due to the volatility of raw material costs, particularly iron and steel.
• Additionally, the prices of these materials are subject to frequent fluctuations, leading to increased manufacturing costs and reduced profit margins for companies. The iron and steel shortage further exacerbates the issue. Economic factors, industrial activities, and infrastructure development influence steel demand, causing iron ore prices to fluctuate. These price changes impact the availability and cost of raw materials for GGBFS production, affecting the market's growth trajectory.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Ashtech India
• Astrra Chemicals
• Balaha Group
• Betolar Plc
• Boral Ltd.
• Cementation India Pvt. Ltd.
• DONG SON RESOURCES CO. LTD.
• Ecocem
• Fico YTL Vietnam
• Heidelberg Materials AG
• Henan Zhengzhou Mining Machinery Co. Ltd.
• Holcim Ltd.
• IVS industries
• JFE Holdings Inc.
• JSW Group
• Luossavaara Kiirunavaara AB
• Millennium Multi Trade Pvt. Ltd.
• Nippon Steel Corp.
• Saudi Readymix Concrete Company Ltd.
• Tata Sons Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Ground granulated blast-furnace slag (GGBFS) is a popular supplementary cementitious material (SCM) used in the production of Portland cement. This byproduct of the steel industry is derived from the iron-making process and is rich in calcium oxides (CaO), silica oxides (SiO2), aluminum oxides (Al2O3), magnesium oxides (MgO), and minor oxides. The pozzolanic properties of GGBFS make it an effective addition to cement, improving concrete's strength, durability, and resistance to chemical attacks, sulfate ingress, and thermal cracking. GGBFS is increasingly being used in various construction materials, including roads, bridges, and high-rise buildings, due to its eco-friendly attributes. Its use in sustainable construction practices helps reduce carbon footprint and greenhouse gas emissions associated with clinker production, which is a significant component of OPC cement.

Additionally, the steel industry, which generates large quantities of GGBFS as a byproduct of raw iron production, benefits from the sale of this material as a valuable byproduct. GGBFS is used as a concrete aggregate, roadbed material, and in the production of ready-mix concrete. Its versatility extends to various industries, including the automobiles, real estate, transportation system, aircraft industry, defense, ship building industry, and light industry. The alkalinity and acidic properties of GGBFS make it suitable for surface finishing and protection applications, such as in the use of calcium hydroxide, water, and salt solutions. Despite its benefits, the use of GGBFS in cement production and concrete structures should be carefully considered to mitigate negative environmental effects and ensure proper handling and application techniques. Grinding techniques and cement manufacturers must adhere to industry standards to maintain the cementitious qualities and engineering properties of GGBFS-based concrete.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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