Ground Granulated Blast-Furnace Slag (GGBFS) Market Research Report – Recent Trends, Growth Opportunities, and Market Size and Share Global Forecast Analysis – 2024 - 2033

Ground Granulated Blast-Furnace Slag (GGBFS) Market Size Research Report – In a Glance

As per the Research report on global Ground Granulated Blast-Furnace Slag (GGBFS) market, the market is projected to foresee a CAGR of CAGR value 5.8% between 2024-2033, and further generate a market size of USD 41.2 billion revenue by the end of 2033. In the year 2024, the market size was valued at USD 23.4 billion revenue.

• The global Ground Granulated Blast-Furnace Slag (GGBFS) market is projected to grow on account of the enhanced concrete performance.
• In Japan, the Ground Granulated Blast-Furnace Slag (GGBFS) market growth can be attributed to the increasing investments in infrastructure development.

• KDMI analyst’s growth analysis foresees limited raw material availability to challenge the market growth.

• North America, having the highest market share in the Ground Granulated Blast-Furnace Slag (GGBFS) market, is projected to dominate the global market.

Ground Granulated Blast-Furnace Slag (GGBFS) Market Analysis

Ground Granulated Blast-Furnace Slag (GGBFS), a dormant hydraulic binder forming calcium silicate hydrates, is a byproduct of steelmaking & iron industry, produced by rapidly cooling molten slag and grinding it into fine powder. Concrete is massively used in the construction process and different varieties are developed to enhance its properties. For instance, It was found that a 10% replacement of metakaolin and a 10% replacement of GGBS emerged as the best substitute offering superior durability. Due to properties such as better durability, amplified strength, and improved defense against chemical degradation, GGBFS is used to improve the performance of concrete. This makes it a top choice for large-scale construction projects such as bridges, tunnels, and roads, where longevity and structural integrity are paramount. Therefore, by increasing the construction rate and improving the strength of the concrete, GGBFS remains a widely used material in residential and commercial construction, eventually driving the GGBFS market. Nippon Steel Corporation, ArcelorMittal S.A., TATA Steel, are some of the significant parties in the global market for Ground Granulated Blast-Furnace Slag (GGBFS).

Analyst’s Observation on Japan Ground Granulated Blast-Furnace Slag (GGBFS) Market Research

In Japan, the market growth for Ground Granulated Blast-Furnace Slag (GGBFS) can be attributed to the increasing investments in infrastructure development. The country is ramping up infrastructure growth with heightened investment in smart cities, reliable transportation, and sustainable energy initiatives. Furthermore, the Japanese government is also putting efforts towards green urban development and climate-resistant initiatives to strengthen economic growth. It has been reported that the METI is set out to establish a Green Innovation Fund at the level of 2 trillion yen in collaboration with the New Energy and Industrial Technology Development Organization (NEDO).  Hence, with continuous capital flow into transport, power generation, and urban development, the GGBFS market will likely to see significant progress and strong development.

Ground Granulated Blast-Furnace Slag (GGBFS) Market Growth Drivers and Challenges

Growth Drivers

• Growth in steel industry:

The surge in steel production and the overall growth in the steel industry directly impacts the ground granulated blast-furnace slag. The product is the byproduct of the steel-making procedure, implying that the steel manufacture surge will push the slag availability, which is further processed to produce the ground granulated blast furnace slag market. Steel slag is assisting the cement and concrete industry in reducing its carbon release as well. Global crude steel production, as of 2023, for 71 countries according, to the World Steel Association, was 135.7. The steel demand is continuously rising and is set to increase further because of large-scale infrastructure advancement projects, especially in regions such as China and India. The demand for steel production is ever-increasing because of increasing demand from industries such as engineering and automotive.

• Growing knowledge of sustainable construction:

Currently, the construction industry is relying heavily on natural resources but with growing climate change and declining resources, the pressure on companies to lessen their environmental footprint is intensifying as well. Across 20 significant global office markets, around 34% of anticipated future demand for low carbon workspaces will be fulfilled in the years ahead. Moreover, the market for green buildings is expanding swiftly due to increased tenant interest in spaces that match their sustainability goals. As the understanding of eco-friendly construction increases, there is a stronger focus on practices that protect the surrounding environment, such as using energy-efficient materials and minimizing greenhouse gas emissions. As a result, it is further contributing to the rising demand for ground granulated blast-furnace slag (GGBFS) due to its reduced environmental effects

Restraints

• Limited raw material availability:

The finite availability of raw materials for ground granulated blast-furnace slag (GGBFS) and its supply shortages create a barrier to its widespread usage and adoption. Since GGBFS is an industrial by-product, its availability is subject to the fluctuating blast furnace production. However, the lack of supply of raw materials can drive up the overall costs and hence, hinder the quick adoption of sustainable construction practices, obstructing the global market.

• High initial investment:

The high upfront cost of ground granulated blast-furnace slag (GGBFS) restricts its extensive adoption and implementation in construction practices. A significant capital is required for infrastructure, transporting materials, and specialized machinery which magnifies its initial expenses. Although GGBFS provides long-term and ecological advantages, the high initial expenditure may prevent some businesses from adopting it, restricting its widespread use in green construction projects.

Ground Granulated Blast-Furnace Slag (GGBFS) Market Segmentation

Our experts at KD Market Insights have segmented the global Ground Granulated Blast-Furnace Slag (GGBFS) market research report as:

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

On a global perspective, the North America region is holding the major share in the Ground Granulated Blast-Furnace Slag (GGBFS) market. It is predominantly shaped by its rising demand for residential construction and increasing capital flow into the iron and steel industries. The rigorous environmental rules and the growing focus on sustainable construction methods are further accelerating the market. Recently, a team of researchers in Colombia University in New York has designed a zigzag wall pattern that decreases the amount of heat intake of buildings. The United States is a key purchaser of GGBFS, sustained by the growing infrastructure projects and the adoption of sustainable building policies. Besides, Canada’s construction industry is also at the cutting-edge of a major change, driven by a strong emphasis on sustainability and eco-friendly building materials.

The Asia-Pacific zone is likely to undergo the highest growth rate in the ground granulated blast-furnace slag (GGBFS) market. The rising demand for sustainable building materials like GGBFS in the region is due to the large-scale spending on infrastructure and construction projects in countries such as India and China. Strengthening the infrastructure is of utmost importance to fulfill India’s aim of reaching US$5 trillion economy by 2025. Moreover, China has allocated funds for roads, ports, and other projects across the globe and provided $679 billion for infrastructure projects in transportation, energy, and three other sectors from 2013-2021. With ongoing infrastructure expansion, GGBFS demand is likely to drive up, establishing the region as a dominant force in the global market.

Europe is also holding a major market portion on the global platform. The growth in the region is probably the result of maximized utilization and increased manufacturing of GGBFS. Furthermore, the increased availability of the product because of the uninterrupted operation of metal furnaces drives the GGBFS market across the region. In contrast, Europe is experiencing a surge in demand for GGBFS in countries such as United Kingdom and Germany by mitigating carbon emissions and boosting the lifespan of concrete structures, hence helping the overall market expansion in the region.

Latin America and the Middle East & Africa are expected to have a gradual growth in the GGBFS market due to the rising construction activities in countries such as Brazil and Mexico, which is backed by economic expansion and infrastructure spending. However, with its extensive infrastructure projects and urbanization drive, the Middle-East and Africa is significantly contributing to the GGBFS market. On the whole, the regional market trend indicates lucrative growth possibilities in various domains.

As per our analysts at KD Market Insights, the following five players lead the North America Ground Granulated Blast-Furnace Slag (GGBFS) market growth:

• Martin Marietta Materials.
• HeidelbergCement
• CEMEX
• Tarmac
• Boral

Ground Granulated Blast-Furnace Slag (GGBFS) Market Competitive Landscape

Some of the key players who top the global Ground Granulated Blast-Furnace Slag (GGBFS) market share:

• ArcelorMittal
• Nippon Steel Corporation
• Tata Steel
• China Baowu Steel Group Corporation Limited
• POSCO
• JFE Steel Corporation
• JSW Steel Ltd.
• Nucor Corporation
• Gerdau S.A.
• Hyundai Steel Company
• Thyssenkrupp AG
• United States Steel Corporation
• Evraz Group S.A.
• Severstal
• Liberty House Group
• HBIS Group Co., Ltd.
• Shougang Group
• Ansteel Group Corporation
• NLMK Group
• SSAB AB

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Ground Granulated Blast-Furnace Slag (GGBFS) Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Type
      2. By Application
      3. ByEnd-use
      4. By Region
5. Market Segmentation by Type
   1. 1. Acidic
      2. Alkaline
      3. Neutral
6. Market Segmentation by Application
   1. 1. Concrete roads and flyovers
      2. Heritage monuments
      3. Metros
      4. Residential, commercial, and industrial complexes
      5. Storage tanks
      6. Others
7. Market Segmentation by Slag content
   1. 1. 5%-30%
      2. 30%-60%
      3. 60%-70%
8. Market Segmentation by Grade
   1. 1. Grade 80
      2. Grade 100
      3. Grade 120

1. Market Segmentation by End-use
   1. 1. Concrete and civil engineering
      2. Construction
      3. Infrastructure
      4. Others
2. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
         4. South Korea
         5. Market Size and Forecast
         6. Key Trends and Developments
         7. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      5. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type,Application,Slag content,Grade, andEnd-use
3. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
   3. Medtronic (Ireland)
   4. IBM
   5. Apple Inc.
   6. Siemens Medical Solutions
   7. Pepperl+Fuchs
   8. Cisco
   9. GE Healthcare
4. Strategic Recommendations
5. Appendix
   1. List of Tables
   2. List of Figures
6. References