Ground Granulated Blast-Furnace Slag (GGBFS) Pricing Report

Ground Granulated Blast-Furnace Slag (GGBFS) Prices December 2023

The price of GGBFS in the United States for Q4 2023 reached 60 USD/MT in December. The market witnessed a fall in prices during November 2023, attributed to the high availability of GGBFS due to the operation of metal furnaces in the steel sector.

The price trend for GGBFS in China reached 57 USD/MT in December 2023. Prices remained unchanged, maintaining a balance between supply and demand. Besides this, the market saw moderate supplies and stable demand, resulting in a balanced equilibrium.

In Germany, GGBFS prices were recorded at 43 USD/MT in December Q4 2023. The market experienced price stability throughout the quarter. However, there is a minor fall in the rates from the previous quarter, reflecting the bearish sentiment and the challenges faced by the construction sector.

Ground Granulated Blast-Furnace Slag (GGBFS) Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “GGBFS Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of GGBFS pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing GGBFS price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Ground Granulated Blast-Furnace Slag (GGBFS) Market Analysis

The global GGBFS market size reached US$ 417.1 Million Tonnes in 2023. By 2032, IMARC Group expects the market to reach US$ 522.7 Million Tonnes, at a projected CAGR of 2.50% during 2023-2032.

• GGBFS encounters heightened demand in construction projects owing to its robust strength, durability, and low heat of hydration. As the construction sector expands, the need for reliable and high-performance materials such as GGBFS increases to meet infrastructure demands.
• Additionally, sustainable building practices are becoming more popular, resulting in the growth of green building materials, which is further contributing to the expanding demand for GGBFS. Concurrently, growing awareness and concerns of the negative environmental effects of conventional building materials, such as Portland cement, is further boosting the demand for more environmentally friendly development techniques, thereby providing an impetus to the market growth.
• Moreover, favorable government initiatives promoting sustainable construction practices and stricter environmental regulations are fueling the utilization of GGBFS as a substitution for Portland cement. These policies incentivize the adoption of eco-friendly materials, thereby reducing energy consumption and carbon emissions in the construction industry.
• The global rise in infrastructure development projects, including roads, bridges, dams, residential buildings, and others is acting as another significant growth-inducing factor as the demand for durable and efficient construction materials like GGBFS remains consistently high.
• GGBFS’ superior attributes, such as enhanced workability, reduced absorbency, improved chemical resistance, and higher long-term strength, making it an attractive choice for modern construction projects are creating a positive outlook for market expansion.
• Besides this, the cost-effectiveness of GGBFS renders it a preferred option for cost-conscious building projects. Its lower price point, linked with its durability and performance benefits, makes it an economical choice without compromising on quality or longevity, which is further impelling the market growth.
• Furthermore, escalating awareness regarding the environmental impact of construction activities propels the shift towards sustainable building materials. As stakeholders prioritize eco-friendly options, there is a surging utilization of GGBFS, a byproduct of the steel industry, thereby aligning with efforts to reduce industrial waste and promote sustainability.
• Ongoing research and development (R&D) efforts aimed at enhancing the properties and compatibility of GGBFS with diverse concrete formulations are supporting its market expansion. These technological advancements extend its applications and improve its performance, thereby bolstering its adoption in the construction industry.

Ground Granulated Blast-Furnace Slag (GGBFS) News

The report covers the latest developments, updates, and trends impacting the global GGBFS market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in GGBFS production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the GGBFS industry:

• In December 2023, Tata Steel launched Tata Dureco-a branded GGBFS made from the by-product of blast furnace slag. GGBFS has been successfully established as an alternative cementitious material in the construction industry.
• In August 2022, ECOCEM launched Superfine, a low-carbon super-high-grade GGBFS for specialist applications in Europe. Ecocem Superfine is a finer GGBFS designed to be used as a specialist additive in binders, industrial mortars, ultra-high-performance concrete (UHPC) , and precast concrete.

Product Description

Ground granulated blast-furnace slag (GGBFS) is a byproduct of iron and steel production processes. While producing iron, a molten blast furnace is rapidly cooled with water, resulting in the creation of a glassy and granular material. This material is then finely ground into a powder, resulting in GGBFS. It possesses cementitious properties when mixed with water, making it a valuable supplementary cementitious material in concrete production.

GGBFS finds massive applications in the construction industry, remarkably in the production of concrete. It is frequently used as a partial replacement in concrete mixtures, leading to improved workability, reduced heat evolution, and enriched long-term strength and durability.

Additionally, GGBFS is employed in specialized concrete applications such as high-performance concrete, mass concrete, and marine structures, owing to its ability to mitigate alkali-silica reactions and sulfate attacks, resulting in improved resistance to aggressive surroundings.

Regional Coverage

The report provides a detailed analysis of the GGBFS market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends. 

Global Ground Granulated Blast-Furnace Slag (GGBFS) Price

The report offers a holistic view of the global GGBFS pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Ground Granulated Blast-Furnace Slag (GGBFS) Price

The European region has experienced a stable and balanced GGBFS demand, with no significant changes in prices. The market was influenced by several key factors, like the heightened availability of GGBFS due to the continued operation of metal furnaces, driven by strong demand in the steel sector. This led to ample supplies in the market, which exceeded the moderate demand from the construction sector. The manufacturing purchasing managers index (PMI) of the region declined, indicating a downturn in economic activity.

This analysis can be extended to include detailed GGBFS price information for a comprehensive list of countries.

North America Ground Granulated Blast-Furnace Slag (GGBFS) Price

In North America, the GGBFS market has experienced an overall stable price trend during the fourth quarter of 2023, except for a slight price breakdown in November, remaining relatively unchanged. Additionally, there was a balanced demand-supply situation, with moderate demand from the downstream construction sector and consistent supplies of the product. This equilibrium in the market contributed to price stability.

Specific data on GGBFS prices within the United States and Canada can also be provided.

Middle East and Africa Ground Granulated Blast-Furnace Slag (GGBFS) Price

The report explores the GGBFS pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on GGBFS prices for countries can also be provided.

Asia Pacific Ground Granulated Blast-Furnace Slag (GGBFS) Price

The GGBFS pricing in the Asia Pacific region was influenced by increased product availability, stable demand, and a balanced supply-demand gap. The market experienced a surplus in supply due to the high operating rates of furnaces, which led to a decline in prices. Despite this, demand remained stable, with no significant change in queries from regular buyers. However, the economic slowdown in countries like China remained a concern, affecting overall industrial activities.

This analysis can be further extended to include detailed GGBFS prices for a comprehensive list of countries within the region.

Latin America Ground Granulated Blast-Furnace Slag (GGBFS) Price

The analysis of GGBFS prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of GGBFS pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting GGBFS price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the GGBFS industry.