Los Angeles, December 11, 2019 – QY Research has added a new report in its repository titled, “Global Iron and Steel Slag Market Insights, Forecast to 2025,” which has examined global Iron and Steel Slag market for the predicted period of 6-years. According to the report, the global Iron and Steel Slag Market was valued at US$ 944 Mn in 2018 and is projected to reach over US$ 1 Bn by 2025, recording a a sluggish growth rate of 2.6% from 2019 to 2025.
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Resource Conservation and CO2 Reduction – Major Factors to Foster Iron and Steel Slag Market
Eco-friendly and Sustainability: Production of slag Portland cement from Iron and Steel Slag greatly reduces carbon emission levels as compared to ordinary cement. Iron and Steel Slag is also used as a recyclable material to reduce harmful impact on the environment due to dumping of metal waste, is likely to foster the growth of the market. However, availability of other viable eco-friendly slag alternatives is anticipated to hamper the growth of the market over the next few years.
Building and Construction Industry: Slag Portland cement offers increased strength and high chemical durability. It is extensively used in marine construction as it is resistant to sea-water. It is widely used in the construction of ports, harbors, and civil engineering works, which is likely to boost the growth of the Iron and Steel Slag market.
Increased Construction Activities – To Boost the Growth of the Application Segment
The application segment is bifurcated into railways, construction/buildings, metallurgical, fertilizers, and others. Steel slag has varied applications in the construction of highways, asphalt pavement, embankments, bridges, and granular bases. This is likely to fuel the growth of the application segment. The product type segment is sub-segmented into hot boring method, roller method, hot method, and Others.
Asia-Pacific: Infrastructure Development and Increasing Metal Manufacturing is Contributing to Growth of the Market
The Asia-Pacific region is witnessing a boom in the construction sector, particularly in developing countries such as India and China. These developing economies are under increasing pressure to implement stringent rules and regulations to lower carbon emissions. Increasing usage of Iron and Steel Slag in the rapid development of roads, railways and largescale production of metals and fertilizers has led to the growth of the regional market.
Offering Product Variety: Main Focus of the Key Players
Some of the major leading players in the global Iron and Steel Slag market are POSCO, ArcelorMittal, China Baowu, Nippon Steel, CRH, HBIS Tangsteel, Tata Steel, JFE Steel, and Levy. Leading players are inclined to offer a variety of products to expand their portfolio and to target industry-specific demands.
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