Ferrous Slag Market is accounted for USD 11,220 Million in 2020, growing at a robust CAGR of 6.7% during forecast period.

Introduction of the Ferrous Slag Market Report

Ferrous slag is obtained as a by-product of iron and steel manufacturing processes. The slag is produced through the addition of materials including limestone, dolomite, lime, and silica sand to blast furnaces and steel furnaces and it is removed from the top of the molten crude iron or steel.

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Market Dynamic

Key Drivers and Emerging Trends

The rising construction industry together with the increasing demand for ferrous slag in the construction sector, including use in aggregates, cement, and base course material for roads, and other civil engineering works is one of the major factors expected to drive the growth of the ferrous slag market. Additionally, other uses of ferrous slag that include manufacturing of rock-wool, fertilizers to upgrade soil characteristics, embankment material, aggregate in railway, and others are expected to stimulate the demand for ferrous slag. Moreover, growing awareness about the use of waste material coupled with the use of iron and steel slag, which is regarded as a recycled material helps in decreasing impacts on the environment. This is expected to further contribute to the growth of the ferrous slag market over the forecast period.

Restraint in the Ferrous Slag Market

However, the presence of toxic substances in slag including nickel, chromium, strontium, and cadmium, which can have adverse effects on human health, is expected to restraint the ferrous slag market size growth. Additionally, logistics and transport costs due to the greater weight of ferrous slag compared to natural rock may further hamper the market growth.

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Process – Segment Analysis

Based on the process, steelmaking slag is expected to grow at a high rate over the forecast period owing to its various uses including aggregate for asphalt concrete, material for sand compaction piles, raw material for cement clinker, fertilizers, and soil improvement. Moreover, steelmaking slag is increasingly used in civil engineering works and as a ground improvement material primarily due to high particle density, high angle of shearing resistance, superior wear resistance, and large weight per unit volume.

Application – Segment Analysis

Based on the application, fertilizers are expected to grow at a notable CAGR over the forecast period. This can be attributed to the huge application of blast furnace slag that contains fertilizer components CaO, SiO2, and MgO in rice cultivation as calcium silicate fertilizer. In addition steelmaking slag containing components including FeO, MnO, and P2O5 is used for a broad range of agricultural purposes that includes rice cultivation, dry field farming, and pastures farming.

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Regional – Segment Analysis:

Asia-Pacific is expected to grow at a high rate over the forecast period. This is primarily due to the growing construction for the development of transportation, government, and residential sector, rising demand for cement, presence of a large number of iron and steel producing companies in countries including China, India, and South Korea. Moreover, according to the IBEF, the demand for steel in India is expected to increase by 17% to reach 110 million tonnes in 2022. Also, according to the OECD, crude steel production in Asia is increased by 6.0% year-on-year during the second half of 2020 and the steel demand in China is expected to have increased by 8.0% in 2020. These are further expected to escalate the growth of the market in the coming years.

Top Market Players

Several leading Ferrous Slag companies operating in the market, include, JSW Holding Limited, Nippon Steel Corporation, ArcelorMittal S.A., Tata Steel Limited, Essar Global Fund Limited, JFE Mineral Co., Ltd., Hyundai Steel, NLMK Group, Hesteel Group Tangsteel Company, and China Baowu Group, and others.

Key Developments:

• • In 2021, JSW Cement Limited, a part of JSW Holdings Limited has launched green products including the use of screen slag in concrete mix products replacing the use of river sand thereby conserving natural resources.

Segments covered in the Report:

The global Ferrous Slag market has been segmented on the basis of process application, and key regions. Based on process, the market is segmented into blast furnace slag and steelmaking slag. Based on the application, the market is segmented into cement, building and construction, railways, fertilizers, rock wool, and others.

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Key questions answered in this research report:

• • At what pace is global Ferrous Slags market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Ferrous Slag Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Ferrous Slag Market?
  • Which process generated maximum revenues in 2020 and identify the most promising process during the forecast period?
  • What are the various applications of global Ferrous Slag Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Ferrous Slag Market by Process

• • Blast Furnace Slag
  • Steelmaking Slag

Global Ferrous Slag Market by Application

• • Cement
  • Building and Construction
  • Railways
  • Fertilizers
  • Rock Wool
  • Others

Global Ferrous Slag Market by Region

• • North America Ferrous Slag Market (Option 1: As a part of the free 25% customization)
    • By Process
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Ferrous Slag Market (Option 2: As a part of the free 25% customization)
    • By Process
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Ferrous Slag Market (Option 3: As a part of the free 25% customization)
    • By Process
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Ferrous Slag Market (Option 4: As a part of the free 25% customization)
    • By Process
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Ferrous Slag Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • JSW Holding Limited
  • Nippon Steel Corporation
  • ArcelorMittal S.A.
  • Tata Steel Limited
  • Essar Global Fund Limited
  • JFE Mineral Co., Ltd.
  • Hyundai Steel
  • NLMK Group
  • Hesteel Group Tangsteel Company
  • China Baowu Group