Published on : Nov 23, 2017
Albany, New York, November 23, 2017: Market Research Hub (MRH) has included a new report in its database titled “Global Iron and Steel Slag Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast – 2017–2025.” The research report offers a detailed analysis and insights that are supported by vital statistics and data. It is also estimated that the global iron and steel slag market to grow at a CAGR of 2.7% from 2017 to 2025 to become worth US$29.896 bn by 2025 from US$23.463 bn in 2016. According to the report, the global market for Iron and steel slag will register growth at a healthy pace during the forecast period, 2017-2025.
Factors Governing Growth of the Global Iron and Steel Slag Market
Demand for the expansion of the global iron and steel slag market is mainly on the basis of granulated or finely crushed slag, to procure concrete upon mixture with Portland cement, in the construction sector. There are various benefits of the concrete containing slag as it help in increasing the binding capacity of the cement. Thereby, providing the enough strength to hold large construction. Moreover, the growing population is other driving factor which is responsible for the growth of the construction activities across worldwide. This has increase the demand for asphalt which is considered as a sustainable constructional material. Additionally, technology advancement can helps in adding value added service in particular product which further help the companies to gain benefits by recycling the iron and steel slag. Other than that, the consistence effort by the producers in producing particular specialized product for applications in end-user industries like railways and construction are largely benefiting from the market.
In foreseeable future, factor which is posing hindrance to the market is consistence surge in the demand of natural aggregates which consists of cursed stone, sand and gravel which are available at large scale. But, the direct intervention by the government authorities and environment legislation has enhanced the growth of the global market for iron and steel slag.
Global Iron and Steel Slag Market: Segmental Analysis
The research report segments the global iron and steel slag market on the basis of application, by process and by region. The report confer the comprehensive projection of the various market.
- Based on application the global market for iron and steel slag market is further divided into fertilizer ,Building & construction, railways and other
- By process, the global market for iron and steel slag is segmented into Electric Arc Furnace Slag, Blast Furnace Slag, Steelmaking Slag, Air cooled Blast Furnace Slag, Granulated Blast Furnace Slag, and Converter slag. The blast furnace slag can be further segmented into air cooled blast furnace slag and granulated blast furnace slag. The steelmaking slag segment is divided into converter slag and electric arc furnace slag.
- On the basis of region the global iron and steel slag market is segmented into Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. Among all the regional, Asia Pacific dominate the iron and steel slag market and the region about 80% share in the market. The main reason behind the growth of the global iron and steel slag market in the particular region on the basis of increasing urbanization is further led to expansion of construction work.
Global Iron and Steel Slag Market: Key Players
The key players in the global iron and steel slag market includes, JFE Steel Corporation, JSW Steel, Steel Authority of India Limited, TATA Steel, NLMK, Stein, Inc., Arcelor Mittal, TMS International, POSCO, Nippon Steel & Sumitomo Metal Corporation, and Harsco Corporation Edw. C. Levy CO. Also, the company is entering into the market with careful collaboration with the original equipment manufacturer (OEM) in various end-user industries.
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