Ground granulated blast-furnace slag (GGBFS) Market to Grow with a CAGR of 2.85% through 2028
Growing demand of Ground granulated blast-furnace slag (GGBFS) in
manufacturing of bricks and blocks is expected to drive the Global Ground
Granulated Blast-Furnace Slag (GGBFS) Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Ground
granulated blast-furnace slag (GGBFS) Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Ground Granulated
Blast-Furnace Slag (GGBFS) Market stood at 405.45 million tonnes in 2022 and is
anticipated to grow with a CAGR of 2.85% in the forecast period, 2024-2028. The
initiatives taken by government based on Ground granulated blast-furnace slag (GGBFS)
has led to favorable market conditions for the Global Ground Granulated
Blast-Furnace Slag (GGBFS) Market. Several factors contribute to the growth of
various ground granulated blast-furnace slag (GGBFS) products.
In 2023, the
Government has launched a web portal and a mobile application called
"ASHTRACK" to monitor fly ash generation and utilization data of Thermal
Power Plants. This initiative aims to facilitate 100% ash utilization by all
coal-based thermal power plants.
The Indian
government is placing high emphasis on infrastructure development to drive
economic growth. Despite the setback caused by the pandemic, efforts on
housing, transport infrastructure, and power have regained momentum. Cement
usage in these projects has contributed to India being the world's
second-largest cement producer, just behind China.
To reduce
emissions during cement production, companies are adopting various technologies
such as Waste Heat Recovery (WHR) power generation systems, transitioning away
from fossil fuels, harnessing solar energy, and converting fossil-fuel-based
facilities into renewable biomass fuel-based units.
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market data Figures spread through XX Pages and an in-depth TOC on "Global
Ground Granulated Blast-Furnace Slag (GGBFS) Market”
GGBFS is renowned for its
pozzolanic properties, which enhance the performance of bricks and blocks.
Incorporating GGBFS as a partial replacement for Portland cement in brick and
block manufacturing significantly improves their strength, durability, and
resistance to chemical attacks. The incorporation of GGBFS in the production
process results in denser and more impermeable bricks and blocks, making them
ideal for a wide range of construction applications.
Moreover, the utilization of
GGBFS in bricks and blocks contributes to enhanced energy efficiency during the
manufacturing process. GGBFS exhibits a lower heat of hydration compared to
traditional cement, thereby reducing the energy required for curing.
Additionally, the use of GGBFS can lead to lower firing temperatures in brick
production, resulting in reduced energy consumption. These energy-saving
benefits make GGBFS an appealing choice for manufacturers seeking to optimize
their production processes while minimizing environmental impact.
Global
Ground Granulated Blast-Furnace Slag (GGBFS) Market is segmented into type, application,
regional distribution, and company
Based on its type, the Alkalinity Blast-Furnace Slag
segment has emerged as the predominant market leader. Alkalinity blast-furnace
slag, a specific type of slag formed during the production of ferronickel in a
blast furnace, is known for its moderate calcium content and the presence of
heavy metals. This slag has garnered significant attention in research, with a
focus on understanding its reaction mechanisms, engineering properties, and
leaching behavior. Numerous studies have been conducted to evaluate the
characteristics and environmental impact of slag, particularly blast furnace
slag.
Furthermore, investigations have been carried out to
examine how the chemistry of slag influences the hydration of alkali-activated
ground-granulated blast furnace slags. These studies have explored the
potential of utilizing a carbonate in the alkali activation process of blast
furnace slag as a substitute for ordinary Portland cement (OPC). By delving
into the intricate details and intricacies of slag chemistry and its
applications, researchers aim to uncover more sustainable and efficient
practices in the realm of slag utilization.
Based on region, Asia Pacific segment is expected to
grow during the forecast period. With a focus on transportation, alongside other relief
programs, the 1.9 trillion-dollar stimulus aims to bolster infrastructure
spending. In 2022, the Asia Pacific region accounted for a significant market
share, projected to maintain this substantial share throughout the forecast
period. Factors contributing to this trend include the increasing
globalization, rising disposable income, and growth of the building and
construction industry in the region. In North America, the market held a
notable share and is expected to exhibit a high compound annual growth rate
(CAGR) during the forecast period. This growth is attributed to the growing
demand for residential construction and increased investments in the iron and
steel industry by key players in the region. Notably, President Joe Biden's
coronavirus relief plan is expected to stimulate construction output in the
United States beyond 2021.
Major companies operating in Global Ground Granulated
Blast-Furnace Slag (GGBFS) Market are:
- 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.
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“Growing application of ground granulated
blast-furnace slag (GGBFS) in various end user industries are key drivers of
the ground granulated blast-furnace slag (GGBFS) market. Growth in competitive
landscape and presence of well-established countries in the market who are
dedicated to enhance their productivity of ground granulated blast-furnace slag
(GGBFS) with every passing year are anticipated to register an impressive growth
to Global Ground Granulated Blast-Furnace Slag (GGBFS) Market in the forecast
period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Ground granulated blast-furnace slag (GGBFS)
Market By Type
(Alkalinity Blast-Furnace Slag, Acidic
Blast-Furnace Slag), By Application (Portland Cement and Concrete, Bricks and
Blocks, Road Construction, Soil Stabilization, Waste Treatment, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Ground Granulated Blast-Furnace Slag
(GGBFS) Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Ground Granulated Blast-Furnace Slag (GGBFS) Market.
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