The global ferrous slag market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing need for steel and iron in the construction sector, including use in granular base, embankments, engineered fill, highway shoulders, and hot mix asphalt pavement.
Iron and steel manufacturing companies produce ferrous slag as a byproduct. It is made by adding minerals such as limestone, dolomite, lime, and silica sand to blast furnaces and steel furnaces in order to remove impurities from iron ore, scrap, and other ferrous feeds as well as reduce heat needs of iron and steel making processes. Slag is formed as a calcium silicate melt that floats on top of molten crude iron or steel and is subsequently separated from liquid metal. As most types of processed slag are only worth a few dollars per ton, steel producers usually hire other businesses to remove, cool, process and sell it. This technique of cooling is critical to the slag's commercial applications.
Some of the leading players in the global Ferrous Slag market:
- Nippon Steel Corporation
- ArcelorMittal S.A.
- Tata Steel Limited
- Essar Steel
- JFE Mineral Co., Ltd.
- JSW Steel Limited
- POSCO
- Novolipetsk Steel
- Hesteel Group Company Limited
- China Baowu Steel Group Corp., Ltd.
- Wuhan Iron and Steel Corporation
- Hyundai Steel Co., Ltd
- Others
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Market Scenario:
Slag is a wide word that encompasses any non-metallic co-products formed during separation of a metal from its ore. The chemistry and shape of slag vary depending on metal generated and solidification technique employed. Depending on the industry from which they arise, slags can be classified as ferrous (iron/steel) or non-ferrous (copper, lead/zinc). Blast furnace slag, basic oxygen furnace slag, electric arc furnace slag, secondary metallurgical slag, and other slags can be produced depending on iron and steel manufacturing process. Steel and iron production processes require less heat as a result of addition of aforementioned material to the furnaces. Ferrous slag is formed largely as a calcium silicate that floats on top of molten crude steel and iron, and it may then be extracted from molten metal.
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Ferrous Slag market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Ferrous Slag market?
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Ferrous Slag Market Segmentation:
Product Type Outlook:
- Blast Furnace Slag (Granulated, Air Cooled)
- steel making Slag (Converter, Electric Arc Furnace)
Application Outlook:
- Cement Production
- Building and Construction
- Railways
- Fertilizers
- Rock Wool
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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