Ground Granulated Blast Furnace Slag (GGBFS) Market | 2031

Report Description

Ground Granulated Blast-Furnace Slag (GGBFS) Market Outlook 2031

The global ground granulated blast furnace slag market size was valued at USD 8.24 Billion in 2022 and is expected to reach USD 9.93 Billion by 2031 projected to expand at a CAGR of 2.1% during the forecast period, 2023 – 2031.

Ground granulated blast furnace slag (GGBFS) is a by-product of raw iron production. Thus, through the addition of the concreate into GGBFS increases its properties such as strength, workability, and durability, as slag concrete develops its strength slower than concrete without GGBFS. It is attained by heating limestone, iron ore, and coke at a temperature of 1500°Celsius.

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The main constituents of blast furnace slag are CaO, SiO2, Al2O3 and MgO, along with other minor oxides in small quantities. Furthermore, by using granulated blast furnace slag, the consumption of limestone (the main raw material of cement) reduces by approximately 40%. For more than a century GGBFS has been used as a chief supplementary cementing material due to its cementitious and pozzolanic properties. Additionally, it is the only component of concrete that contains appreciable quantities of sulfide.

GGBFS is perhaps the utmost widely investigated and effective cement replacement material used in concrete manufacturing; therefore, it is used as an eco-friendly and cost-effective building material, as it is an ideal replacement of OPC cement. Increased research & developments and rising number of launches of various GGBFS by key players are driving the market.

For instance, Tata Steel is one of the leading GGBS manufacturers in India offers premium quality products. Furthermore, in July 2021, JFE Steel Corporation in collaboration with Tohoku University and Nihon University developed an alkali-activated material (AAM), which is expected to drive the demand for GGBFS during the forecast period.

Ground Granulated Blast-Furnace Slag (GGBFS) Market Dynamics

Rising Urbanization

Urbanization is at its peak in present because of the advancement and break through coming in every field across the world. Workers and labors are attracted to cities to earn and mostly they get job into Manufacturing industries like steel, Iron etc. This leads to increase in production of iron and steel across the Globe. Hence, the production of GGBFS is also increased.

Good surface finish and Aesthetics quality boosts the GGBFS market

Adding surface finishing to the product can add value to it in a variety of ways. It can enhance component appearance and appeal, as well as provide surface protection and improve component function and performance. A surface finish that is environmentally friendly, which will align with many consumers’ values. GGBFS provides this, and this can drive the market growth.

Lower chances of Efflorescence

Efflorescence is the white staining that forms on the surface of concrete products such as blocks and paving. The two key factors to prevent Efflorescence are to reduce the amount of calcium hydroxide and to reduce the permeability of the product that minimize the ability of water and salt solutions to migrate from the surface.

By replacing traditional cement with ecocem GGBFS one can immediately removing a direct portion of calcium CA(OH)2 in a mix as ecocem GGBFS hydration does not produce any calcium hydroxide. Thus, there is a less chance of Efflorescence in the GGBFS.

Expanding Steel and Iron Production

The demand drivers for the Iron and Steel industry are increase in the activities of the automobiles industry, real estate’s industry, transportation system, aircraft industry, Defense, ship building industry, etc. Due to the Mass production of iron and steel in these industries, this leads to increase in GGBFS Production.

The Iron and Steel industry is closely related to Chemical industry and light industry, It shows that the iron and steel industry has the potential to contribute to the competitiveness of GGBFS and global producers and to the growth of global economy.

Scope of Ground Granulated Blast-Furnace Slag (GGBFS) Market Report

The report on Ground Granulated Blast-Furnace Slag (GGBFS) market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Ground Granulated Blast-Furnace Slag (GGBFS) Market Segmental Outlook

The global ground granulated blast-furnace slag (GGBFS) market is segmented on the basis of type, cover, application, and regions.

Based on type, the global ground granulated blast furnace slag market is divided into alkalinity blast-furnace slag and acidic blast-furnace slag. The alkalinity blast-furnace segment is growing owing to the rising number of launches across the globe and increasing R&D to understand and increase the applications of slag.

The alkalinity blast-furnace slag segment accounted for a key share of the market and is projected to expand at a rapid pace during the forecast period, owing to its rising awareness about its properties such as mechanical and physical durability.

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In terms of cover, the market is segmented into specific surface area ≥ 300m2/kg, specific surface area ≥ 400m2/kg, and specific surface area ≥ 500m2/kg. The specific surface area ≥ 400m2/Kg segment is expected to expand at a high CAGR during the forecast period due to rising need for concrete bridges across the globe.

In terms of application, the global ground granulated blast furnace slag (GGBFS) market is segmented into cement production, concrete aggregate, roadbed material, others. The cement production segment is anticipated to account for a substantial share of the market and expand at a significant CAGR. The demand for residential constructions has increased as the population has grown.

Cement production has risen dramatically over the world as a result of this. Growing need for public infrastructure and non-residential buildings, such as hospitals and healthcare centers, has created need for cement production. These factors are expected to boost the cement segment in the coming years.

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Ground Granulated Blast-Furnace Slag (GGBFS) Market Regional Outlook

Based on regions, the global ground granulated blast furnace Slag Market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

North America held a significant share of the market in 2020 and is anticipated to expand at a high CAGR during the forecast period, due to growing demand for residential construction and increasing investments in the iron and steel industry by key players in the region. For instance, President Joe Biden's coronavirus relief plan is projected to drive construction output in the US in the years after 2021.

With other relief programs focusing on transportation, the 1.9 trillion-dollar stimulus is intended to increase infrastructure spending. Asia Pacific accounted for a considerable share of the market in 2020 and is projected to account for a substantial share of the market during the forecast period, owing to increasing trend of globalization, rising disposable income, and rising growth of the building and construction industry in the region.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the global Ground Granulated Blast-Furnace Slag (GGBFS) market
• Historical, Current and Projected Market Size in terms of Value and Volume
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Ground Granulated Blast-Furnace Slag (GGBFS) Market Performance