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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