Global Ground Granulated Blast-Furnace Slag (GGBFS) Market to 2028: Growing Use in Road Construction Fuels the Sector
Ground Granulated Blast-Furnace Slag (GGBFS) Market
Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Ground Granulated Blast-Furnace Slag (GGBFS) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global Ground Granulated Blast-Furnace Slag (GGBFS) market, which achieved a volume of 405.45 million tonnes in 2022, is poised for robust growth with a projected Compound Annual Growth Rate (CAGR) of 2.85% until 2028. It is expected to reach an estimated volume of 475.26 million tonnes by 2028.
GGBFS, a valuable by-product from raw iron production, enhances concrete properties such as strength, workability, and durability.
Key Market Drivers:
Growing Use in Road Construction:
GGBFS is increasingly favored in the construction industry, particularly in road construction, due to its ability to improve concrete strength and durability.
Its sustainability benefits align with the industry's environmental focus, making it an eco-friendly choice. GGBFS reduces waste, lowers energy consumption, and minimizes carbon emissions during production.
Demand for Strong and Durable Concrete Structures:
The construction industry is witnessing rising demand for durable concrete structures capable of withstanding various environmental conditions.
GGBFS is used as a partial replacement for cement in concrete mixtures to enhance compressive and flexural strength, as well as resistance to chemical attacks, resulting in longer-lasting structures.
Expansion in Steel and Iron Production:
The increase in steel and iron production, driven by infrastructure development and urbanization, contributes to the availability of blast-furnace slag, a raw material for GGBFS.
GGBFS reduces waste from steel and iron production, aligning with sustainability goals and regulatory requirements.
Key Market Challenges:
Initial Investment and Cost Considerations:
Setting up GGBFS production infrastructure requires a significant initial investment, potentially limiting accessibility.
Cost differentials with conventional materials and fluctuating supply and demand dynamics can impact market penetration.
Compatibility with Concrete Mixtures:
Achieving the desired balance of strength, workability, and durability in concrete mixtures when using GGBFS can be challenging.
GGBFS properties may affect early-age strength and workability, requiring adjustments in mix design and careful consideration of compatibility.
Key Market Trends:
Surge in Research and Development (R&D):
R&D activities are driving advancements in GGBFS properties, aiming to enhance concrete performance and sustainability.
Innovative applications beyond traditional construction materials are being explored, including soil stabilization and waste management.
Sustainability-focused R&D seeks to reduce GGBFS production's carbon footprint and expand the use of alternative sources and recycled materials.
Companies Mentioned
JSW Cement Limited
Sagar Cement Limited
TATA Steel Limited
Boral Limited
JFE Mineral & Alloy Company,Ltd.
Lafarge Group
Super Cement Manufacturing Company LLC
Ecocem
AfriSam South Africa Pty Ltd.
ArcelorMittal S.A.
Report Scope:
In this report, the Global Ground Granulated Blast-Furnace Slag (GGBFS) Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Ground Granulated Blast-Furnace Slag (GGBFS) Market, By Type:
Alkalinity Blast-Furnace Slag
Acidic Blast-Furnace Slag
Ground Granulated Blast-Furnace Slag (GGBFS) Market, By Application:
Portland Cement and Concrete
Bricks and Blocks
Road Construction
Soil Stabilization
Waste Treatment
Others
Ground Granulated Blast-Furnace Slag (GGBFS) Market, By Region:
North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Key Attributes:
Report Attribute | Details |
No. of Pages | 180 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (Tonnes) in 2022 | Tonnes405.45 Million |
Forecasted Market Value (Tonnes) by 2028 | Tonnes475.26 Million |
Compound Annual Growth Rate | 2.8% |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/qtakzo
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