|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
405.45 million
|
|
CAGR
(2023-2028)
|
2.85%
|
|
Fastest
Growing Segment
|
Alkalinity
Blast-Furnace Slag
|
|
Largest
Market
|
Asia
Pacific
|
Market Overview
Global Ground Granulated Blast-Furnace Slag (GGBFS)
Market has valued at USD 405.45 million in 2022 and is anticipated to project
robust growth in the forecast period with a CAGR of 2.85% through 2028. Ground
granulated blast furnace slag (GGBFS) is a valuable by-product derived from the
production of raw iron. When added to concrete, GGBFS enhances its properties,
including strength, workability, and durability. Unlike concrete without GGBFS,
slag concrete develops its strength at a slower pace. The formation of GGBFS
involves heating limestone, iron ore, and coke at a temperature of 1500°Celsius.The main constituents of blast furnace slag consist
of CaO, SiO2, Al2O3, and MgO, along with other minor oxides present in small
quantities. The utilization of granulated blast furnace slag significantly
reduces the consumption of limestone, which serves as the primary raw material
for cement production, by approximately 40%. For over a century, GGBFS has been
widely used as a supplementary cementing material due to its remarkable
cementitious and pozzolanic properties. Notably, it is the only component of
concrete that contains appreciable quantities of sulfide.
GGBFS stands out as one of the most extensively
researched and effective cement replacement materials in the manufacturing of
concrete. As an eco-friendly and cost-effective building material, it serves as
an ideal substitute for OPC cement. The market is driven by increased research
and development efforts, as well as the introduction of various GGBFS products
by key players.For instance, Tata Steel, a renowned company in
India, is one of the leading manufacturers of Ground Granulated Blast Furnace
Slag (GGBS). They are known for offering premium quality products that meet the
highest industry standards. Furthermore, in July 2021, JFE Steel Corporation,
in collaboration with prestigious academic institutions like Tohoku University
and Nihon University, made a significant breakthrough. They developed an
innovative and cutting-edge material called alkali-activated material (AAM).
This groundbreaking development is expected to drive the demand for GGBFS even
further during the forecast period. The introduction of AAM opens up new
possibilities and applications for GGBFS, showcasing the continuous efforts and
advancements in the field of construction materials.
Key Market Drivers
Growing Use of Ground Granulated Blast-Furnace Slag
(GGBFS) in Road Construction
Ground Granulated Blast-Furnace Slag (GGBFS) has
emerged as a highly sought-after and versatile material in the construction
industry, especially in road construction. GGBFS, a byproduct of the
iron-making process, possesses several beneficial properties that make it an
ideal alternative to traditional construction materials.
One of the primary reasons for the increasing use
of GGBFS in road construction is its remarkable ability to improve the strength
and durability of concrete. When incorporated into cementitious mixtures, GGBFS
not only enhances the immediate performance but also significantly enhances the
long-term mechanical properties of the resulting concrete. This leads to a
concrete that is more resistant to cracking, abrasion, and chemical attacks,
ultimately extending the lifespan of road surfaces. By reducing the need for
frequent repairs and maintenance, GGBFS helps to lower maintenance costs and
enhance the overall quality of roads.
Moreover, GGBFS offers a sustainable solution that
aligns with the growing emphasis on sustainability and environmental
considerations in the construction industry. By utilizing a byproduct that
would otherwise be discarded, GGBFS minimizes the amount of waste sent to
landfills, significantly reducing the environmental impact of iron-making
processes. Furthermore, the production of GGBFS requires less energy compared
to traditional construction materials, leading to lower carbon emissions, and
contributing to an eco-friendlier construction industry. Notably, GGBFS
possesses unique physical and chemical properties that enhance the workability
and performance of concrete mixtures. It improves the cohesiveness and
flowability of fresh concrete, making it easier to handle and place during road
construction.
Additionally, the use of GGBFS in concrete mixtures
reduces the heat of hydration, mitigating the risk of thermal cracking and
ensuring superior construction quality. In summary, GGBFS has revolutionized
the construction industry, particularly in road construction, by offering
enhanced strength, durability, sustainability, and workability. Its utilization
not only improves the performance of concrete but also contributes to reducing
environmental impact and promoting a more sustainable future for the
construction industry.
Growing Demand of Strong and Durable Concrete
Structures
The construction industry is experiencing a
significant increase in demand for robust and long-lasting concrete structures
that can withstand a wide range of environmental conditions while ensuring
exceptional performance throughout their lifespan. To meet these evolving
requirements, there has been a notable surge in the utilization of Ground
Granulated Blast-Furnace Slag (GGBFS) as a fundamental component in concrete
mixtures.
Concrete structures must endure heavy loads,
extreme weather conditions, and chemical attacks over their operational
lifespan. By incorporating GGBFS as a partial replacement for cement in
concrete mixtures, remarkable improvements in strength and durability can be
achieved. GGBFS enhances the compressive strength, flexural strength, and
resistance to sulfate and chloride attacks, resulting in the creation of more
robust and durable concrete structures.
One of the common challenges faced by concrete
structures is the occurrence of cracking and shrinkage, which can compromise
their durability and structural integrity. However, the use of GGBFS can
effectively mitigate these issues by reducing the heat of hydration during the
cement hydration process. This reduction in heat generation significantly
minimizes the risk of thermal cracking and shrinkage, thereby ensuring the
long-term stability and performance of the concrete.
Expansion in Production of Steel and Iron
The production of steel and iron has experienced
steady growth worldwide, fueled by infrastructure development, urbanization,
and industrial expansion. In recent years, emerging economies, particularly in
Asia, have witnessed a significant rise in steel and iron production. This
surge in production can be attributed to the construction of new buildings,
bridges, roads, and other essential infrastructure projects that accompany
rapid urbanization. As the demand for steel and iron increases, so does the
availability of the byproduct known as blast-furnace slag. This slag, which is
generated during the production process, can be further processed into Ground
Granulated Blast Furnace Slag (GGBFS). By utilizing blast-furnace slag in the
manufacturing of GGBFS, the industry not only reduces waste but also transforms
it into a valuable construction material.
The use of GGBFS in construction projects has
gained recognition from regulatory bodies worldwide. They have implemented
standards and regulations that promote the use of GGBFS, aiming to improve the
quality and longevity of infrastructure. These regulations often require the
incorporation of GGBFS in construction projects, creating a favorable
environment for the growth of the global GGBFS market. The sustainable
practices associated with utilizing blast-furnace slag and producing GGBFS
contribute to reducing the environmental impact of steel and iron production.
By turning what would be waste into a valuable resource, the industry aligns
itself with sustainable development goals and promotes a circular economy
approach. With the continuous expansion of infrastructure projects and the
increasing adoption of sustainable construction practices, the global GGBFS
market is poised for further growth. As countries prioritize the development of
robust and long-lasting infrastructure, the demand for GGBFS is expected to
rise, creating new opportunities for the steel and iron industry, and
contributing to a more sustainable future.