What is Global Ground Granulated Blast-Furnace Slag (GGBFS) Market?
The Global Ground Granulated Blast-Furnace Slag (GGBFS) Market is a fascinating area of study that delves into the world of construction materials. GGBFS is a by-product of iron production in blast furnaces, which is then ground into a fine powder and used as a replacement for a portion of the cement in concrete mixtures. This product is known for its superior durability and environmental benefits, as it reduces the need for cement production, which is a significant contributor to CO2 emissions. The market for this product is vast and varied, with applications ranging from construction to road building.
Specific Surface Area ≥ 300m²/Kg, Specific Surface Area ≥ 400m²/Kg, Specific Surface Area ≥ 500m²/Kg in the Global Ground Granulated Blast-Furnace Slag (GGBFS) Market:
The Global Ground Granulated Blast-Furnace Slag (GGBFS) Market is segmented based on the specific surface area of the product, which is a measure of the total surface area of the particles in a unit mass. Products with a specific surface area of ≥ 300m²/Kg, ≥ 400m²/Kg, and ≥ 500m²/Kg are available in the market. The specific surface area of the GGBFS affects its reactivity, which in turn influences the strength and durability of the concrete. The higher the specific surface area, the more reactive the slag, resulting in stronger and more durable concrete. However, the cost of producing GGBFS with a higher specific surface area is also higher, which is a factor that influences the market dynamics.
Cement Production, Concrete Aggregate, Roadbed Material, Others in the Global Ground Granulated Blast-Furnace Slag (GGBFS) Market:
The Global Ground Granulated Blast-Furnace Slag (GGBFS) Market finds its applications in various areas such as cement production, concrete aggregate, roadbed material, among others. In cement production, GGBFS is used as a supplementary cementitious material, replacing a portion of the cement in the concrete mix. This not only improves the durability of the concrete but also reduces CO2 emissions associated with cement production. As a concrete aggregate, GGBFS improves the workability and cohesiveness of the concrete. In roadbed construction, GGBFS is used as a subbase material due to its excellent compaction characteristics and resistance to weathering.
Global Ground Granulated Blast-Furnace Slag (GGBFS) Market Outlook:
The market outlook for the Global Ground Granulated Blast-Furnace Slag (GGBFS) Market is promising. In 2022, the market was valued at US$ 9021.7 million. It is projected to grow steadily and reach a value of US$ 10100 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 1.6% during the forecast period from 2023 to 2029. This growth can be attributed to the increasing demand for sustainable construction materials and the growing awareness about the environmental benefits of using GGBFS. The market's growth is also supported by advancements in grinding technology, which have made it possible to produce GGBFS with a higher specific surface area, thereby enhancing its performance characteristics.
| Report Metric | Details |
| Report Name | Ground Granulated Blast-Furnace Slag (GGBFS) Market |
| Accounted market size in 2022 | US$ 9021.7 million |
| Forecasted market size in 2029 | US$ 10100 million |
| CAGR | 1.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ArcelorMittal, Nippon Steel, China Baowu Steel Group, POSCO, Hesteel Group, JFE Steel, Tata Steel, Nucor Corporation, Hyundai Steel, Jiangsu Shagang Group, Ansteel Group, NLMK Group, Gerdau, Shougang Group, US Steel |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
