"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The U.S. steel slag market size was worth USD 15.04 billion in 2022 and is projected to record a CAGR of 3.8% during the forecast period.
The market growth is primarily due to the increasing use of cement & concrete products. The U.S. government is investing heavily in the infrastructure sector, thereby significantly boosting the U.S. steel slag market growth. The rapidly growing presence of cement-producing companies in the country, along with rising technological innovations in the manufacturing process of cement, are some of the prominent factors fueling the slag adoption in the U.S.
For steel producers, disposing of slag can be a problem. However, with the right processing and handling, steel slag may be turned into useful products for a variety of uses, including the building of roads, the manufacture of cement, and land reclamation. The COVID-19 pandemic has emphasized the value of effective waste management even more giving the market an opportunity to offer long-term approaches to waste utilization.
Increasing Use of Steel Slag in Land Reclamation
The use of slag as a filling material can help the operations of land reclamation in different ways. Steel slag is a significant material for filling and leveling land surfaces due to its permeability, stability, and excellent load-bearing capacity. It can recover and restore areas, such as quarries, mining sites, and deteriorated fields. These advantages will positively influence the U.S. steel slag market forecast.
Rising Demand for Road Construction to Boost Market Growth
Aggregates made from steel slag are extremely strong and long-lasting, making them perfect for use as road bases and sub-bases. Highways, roads, and pavements can be built on a solid and secure foundation due to tight interlocking of the slag particles. Such properties contribute to the prevention of rutting and deformation, assuring long-lasting and dependable road structures.
Regulatory measures and standards that encourage the development of sustainable infrastructure are in favor of the widespread use of steel slag in road construction. Several nations have promoted the advantages of utilizing this slag in road construction and included it in their guidelines. Economic factors are also important in boosting the demand for this type of slag for road infrastructure. Employing slag as a building material for road construction results in cost saving. It frequently offers contractors more affordable options as compared to the conventional aggregates. According to the U.S. Census Bureau, highway construction was at a seasonally adjusted annual rate of USD 124.6 billion in May 2023, 0.4% below the revised April estimate of USD 125.1 billion.
Environmental Constraints to Hinder Market Growth
In addition to disposal limitations, environmental laws frequently concentrate on limiting the emission of contaminants from steel-based slag. Heavy metals and other hazardous materials are present in this slag. To get rid of these pollutants, manufacturers have invested in cutting-edge technologies. Techniques, such as solidification/stabilization, washing, or leaching can be used in such technologies. To utilize this slag, manufacturers and end-users should address the environmental and industrial restraints associated with it. Ongoing research in several end-use industries and research institutes has shown possible outcomes for steel slag and is anticipated to increase its demand in several end-use industries.
Based on type, the market is segmented into blast furnace slag and steelmaking slag.
The blast furnace slag segment accounted for a significant U.S. steel slag market share in 2022 and is likely to maintain its dominance during the forecast period. Blast furnace slag exhibits exceptional strength and is therefore, used in strong latent hydraulic applications. These slags are of two types - air-cooled slag and granulated slag, which have major usage in under-building materials and fertilizers.
Steelmaking slags are significantly heavier, denser, harder, and less vesicular. They are highly resistant to polishing and pavement surface wear and tear. Additionally, the growing urban population in the country is boosting the segment growth.
Based on application, the U.S. steel slag market is segmented into construction, cement & concrete, fertilizers, and others.
The cement & concrete segment held a larger share in 2022. The growing consumer demand for road base course material, cement clinker raw materials, and blending materials used for Portland cement will boost the adoption of this type of slag in the country’s cement & concrete industry.
The construction activities are increasing in all the sectors of civil engineering including structural engineering, road development, and hydro-power structures. In the construction segment, steel slag is employed in various applications including building & construction, road construction, brick production, asphalt mixes, ceramic manufacturing, and many others. Due to its recyclability and environment-friendly properties, a large quantity of steel-based slag is used in the construction industry.
In terms of the competitive landscape, the U.S. market depicts the presence of established and emerging producing companies. Key players include ArcelorMittal, Baosteel Group Corporation, Nippon Steel Corporation, and JFE Steel Corporation, among others. Industry players are competing in the price and application areas of the product. They are emphasizing on product innovation, social marketing, acquisitions, and collaborations. For instance, in October 2020, Avon opened its first in-person, completely immersive experience center called Studio 1886 with Avon’s top educators for skincare, color, personal care, and more.
An Infographic Representation of U.S. Steel Slag Market
To get information on various segments, share your queries with us
The study report thoroughly examines key factors, such as leading companies, applications, and products. It also provides information on market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market's growth in recent years. It examines the industry's newest market dynamics, opportunities, historical data, and revenue growth estimates at the country level.
CAGR of 3.8% from 2023 to 2030
Value (USD Billion)
Fortune Business Insights says that the U.S. market was worth USD 15.04 billion in 2022.
The market is expected to exhibit a CAGR of 3.8% during the forecast period of 2023-2030.
By type, the blast furnace slag segment accounted for a considerable share of the market.
ArcelorMittal, Baosteel Group Corporation, Nippon Steel Corporation, and JFE Steel Corporation are the top players in the market.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry