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Iron and steel slag, also referred to as ferrous slag, are created by adding calcareous (or dolomite), silica sand , and lime to blast furnaces to remove contaminants from iron ore, and other ferrous feed resources and to reduce the heat conditions of iron and steel processing. Iron and steel slag is a by-product in the method of steelmaking. It comprises of multiple abrasive particles during the smelting and refining by oxidizing contaminants, such as silicon, phosphorus, manganese , and sulfur in portland cement, and salts produced by the solvent reaction of these oxides.
In the construction industry , demand for iron and steel slag has risen primarily due to the high in demand for granulated crushed slag, to acquire concrete when combined with portland cement. As well the increase for the construction sector is huge with population expansion. The increase in demand for slag as a cement will ultimately lead to better building expenditure on building projects and on the achievement of the industry's strategies to encourage slag as a construction material and, in turn, will boost market growth.
However, the industry is in fact highly competitive with global companies catering to the foreign market and smaller players catering to regional demand. However, the presence of vast numbers of suppliers around the regions would likely hinder the entrance of new entrants into the industry.
Key Market Driver -
Expansion of the construction industry is driving the market
Key Market Restraint -
High competition between the key players confines the industry growth.
Based on process, the market for global iron and steel slag is further segmented into blast furnace slag, granulated blast furnace slag, air cooled blast furnace slag, steelmaking slag, converter slag, electric arc furnace slag. Based on application, the market for global iron and steel slag is further segmented into building/construction, railways, fertilizers, metallurgical, others.From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global iron and steel slag Market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the global iron and steel slag Market includes Steel Authority of India Limited, Nippon Steel & Sumitomo Metal Corporation, Edw. C. Levy CO., Stein, Inc., JFE Steel Corporation, Arcelor Mittal, TATA Steel, NLMK, Harsco Corporation, POSCO, TMS International, and JSW Steel.
In terms of Geography, the global iron and steel slag market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of both consumption and output the Asia-Pacific region dominates the Global iron and steel slag market. The global iron and steel slag market is expected to see a rising demand from India, China and other Asia Pacific countries. This can be attributed to the, the rising infrastructural development activities and growing awareness among consumers. This is due to the growing demand in the region due to the rapid speed of urbanization which has resulted in increased construction activities. India and China are on the right track of demand. North America market is estimated to hold prominent share in the global iron and steel slag market on account of growing construction industry in the region due to increasing population. Since construction demand is growing with rising population in the region, the market is booming. Because of the growing urban population the building & construction industry in Europe is seeing development in both commercial and non-commercial sectors which is leading to an increased application of iron and steel slag which in turn is driving the market growth . The presence of a large number of international and local manufacturers in the Europe,is projected to augment revenue growth of the market in the region. Latin America is seeing steady growth as a result of government spending in public services, and rising demand for commercial construction is projected to boost product development. It is expected that the Middle East and Africa will experience sluggish growth due to the Governments interference of tight regulations.
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