Features Global demand for granulated blast furnace slag to decline by 2027 14 December, 2020 SHARE THIS ARTICLE Share Tweet Post Email LATEST Markets & Competition Bamburi Cement faced 111 power outages last year Cement manufacturer faced various power outages due to April 26, 2024 Environment Shree Cement commits to 100% renewable energy by 2050 Shree Cement is pioneering sustainability in the cement April 26, 2024 MOST READ Environment Groundbreaking ceremony for Holcim's climate-neutral CO2 neutral plant to be functional in 4 April 22, 2024 Markets & Competition UltraTech Cement acquires grinding unit from India UltraTech Cement looking to bolster presence in April 22, 2024 Global demand for granulated blast furnace slag to decline by 2027 Major global steel producers move away from basic oxygen furnaces (BOFs) to electric arc furnaces (EAFs) Asia ex-China consumption, however, is forecast to increase by almost 4 million tons by 2027 The Middle East is expected to witness the largest increase in GGBFS demand North America and Europe to drive global EAF production growth by 2027 Greenwich (CT), USA, February 22, 2022 ÔÇô Global ground granulated blast furnace slag (GGBFS) demand is forecast to decline by 2027, as China's focuses on the implementation of greenhouse gas emission reduction policies, according to CW Research's 2022 update of the Global Ground Granulated Blast-furnace Slag Market Report and Forecast. Between 2017 and 2022, global GGBFS consumption grew at a CAGR of 2 percent, however, this trend is expected to change over the next five years as major global steel producers move away from basic oxygen furnaces (BOFs) to electric arc furnaces (EAFs). On the other hand, Asia ex-China consumption is forecast to increase by almost 4 million tons between 2022 and 2027. ÔÇ£China is set to reduce its steel production intensity gradually and increasingly shift crude steel production towards the EAF process, moving away from a BOF focus. Given that China alone accounts for more than half of global GGBFS demand, this will likely result in a decline of the global market size,ÔÇØ writes Prashant Singh, Associate Director at CW Group. Middle East to witness the largest GGBFS demand increase The Middle East is expected to witness the largest increase in GGBFS demand, despite remaining a small market, with demand forecast to reach less than 1 million tons by 2027. European ground granulated slag consumption is estimated to exceed pre-pandemic highs, led by a rising contribution from Turkey. Japan is likely to remain the world's largest GGBFS exporter In the next 5 years, Japan is estimated to remain the world's largest GGBFS exporter, while India is expected to see its GGBFS production increase at a fast pace over the forecast period. Meanwhile, in the CIS and North America, consumption is likely to decline over the forecast period. North America and Europe to drive global EAF production growth by 2027 Globally, steel slag production is estimated to slightly increase in the 2022-2027 period, as steel producers are focused on moving towards EAF production to achieve an eco-friendlier steel-making process. Capacity additions for EAF are expected to be driven mostly by North America and European producers during the forecast period. The Global Ground Granulated Blast-furnace Slag Market Report and Forecast provides an in-depth analysis of the global blast furnace slag market. The report presents the latest data on the market size (volume and value) sourced through both primary and secondary research. Historic and five-year forecast data showcased include figures on consumption, domestic production, exports and imports, price dynamics, as well as qualitative information on trends in the industry. The market intelligence provided in the report is divided into regional demand, as well as by end-user, providing a strategic perspective on the evolution and outlook for the industry. Buy now the report here. Sign in Don't have any account? Create one SHOW Forgot your username/ password? Log in Terms Of Service Privacy Policy This site is protected by reCAPTCHA and Terms of Service apply Sign in as: User Registration * Required field Sign In Information Personal Information Agree Yes No Terms of Service:You consent that we will collect the information you have provided us herein as well as subsequent use of our platform to render and personalize our services, send you newsletters and occasionally provide you with other information. * Fields marked with an asterisk (*) are required. Register SaveCookies user preferencesWe use cookies to ensure you to get the best experience on our website. If you decline the use of cookies, this website may not function as expected.Accept allDecline allCW GroupNewsAcceptDecline