According to ChemAnalyst report, “Global Granulated Ground Blast Furnace Slag (GGBFS) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Demand by Type, Sales Channel, Company Share, Foreign Trade, Regional Demand, 2015-2035”, The Global Granulated Ground Blast Furnace Slag (GGBFS) market is likely to experience an increase by reaching 585 million tonnes in 2035, at a CAGR of 3.20% in the approaching years. In the upcoming years, the market for Global Granulated Ground Blast Furnace Slag (GGBFS) will most likely grow because of the rising demand from end-use industries such Portland Cement & Concrete, Bricks & Blocks and Others.
Largely Granulated Ground Blast Furnace Slag (GGBFS) is produced as a by-product of iron blast furnace process and most often used for steel production. About 1500 °C, the blast furnace is supplied with a precisely regulated mixture of limestone, coke, and iron ore, in which GGBFS is produced as a by-product.
Moreover, across the globe, the surge in demand of Granulated Ground Blast Furnace Slag (GGBFS) is mainly due to its ability to increasing strength, durability, and effectiveness properties of concrete, which is the primary driver of the GGBFS market. In 2021, the Portland Cement & Concrete Industry held a market share of approximately 69% of global GGBFS market. Owing to fast pace of industrialization across the globe, the demand of cement and concrete will definitely increase, which will further fuel the of Granulated Ground Blast Furnace Slag market by 2035.
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The Granulated Ground Blast Furnace Slag (GGBFS) market is segmented based on type, end-use, sales channel, and region. Based on type, GGBFS market is segregated into Alkalinity Blast Furnace Slag and Acidic Blast Furnace Slag.
Based on end-uses, the Granulated Ground Blast Furnace Slag (GGBFS) market is segregated into Portland Cement & Concrete, Bricks & Blocks, and others. The Construction industry dominates the Granulated Ground Blast Furnace Slag (GGBFS) market around the globe. It will most likely stay the biggest end user industry during the forecast period, owing to its high demand in concrete and other strengthening products.
Asia Pacific is the leading consumer of Granulated Ground Blast Furnace Slag (GGBFS) among all other regions, and it is anticipated that it will continue to maintain its dominance during the forecast period. Highest demand for Granulated Ground Blast Furnace Slag (GGBFS) is in Construction industry followed by land filling. China is the leading producer and of Granulated Ground Blast Furnace Slag (GGBFS) across the globe.
“Global Granulated Ground Blast Furnace Slag (GGBFS) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Demand by Type, Sales Channel, Company Share, Foreign Trade, Regional Demand, 2015-2035”, the significant players functional in the Granulated Ground Blast Furnace Slag (GGBFS) market include China Baowu Steel Group Corp., Ltd, Nippon Steel Corporation, ArcelorMittal S.A., JFE Steel Corporation, Maanshan Iron & Steel Company Limited, Changcheng Special Steels Co Ltd, Baosteel, Hunan Valin Xiangtan Iron and Steel Co., Ltd., Zenith Steel Group Co. Ltd., Gansu Jiu Steel Group Hongxing Iron and Steel Co ltd., TATA Steel and Others.
“The rapidly increasing demand for Granulated Ground Blast Furnace Slag (GGBFS) for its properties like strengthening and durability in cement industry coupled with growing demand from bricks and blocks manufacturing is likely to boost the market in the forecast period until 2035. Ground Blast Furnace Slag (GGBFS) is used for improvement of compressive strength of concrete, which drives its demand in the cement industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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