U.S. Steel Slag Market Size, Share & COVID-19 Impact Analysis, By Type (Blast Furnace Slag and Steelmaking Slag), By Application (Construction, Cement & Concrete, Fertilizers, and Others), 2023-2030

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.

LATEST TRENDS

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.

DRIVING FACTORS

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.

RESTRAINING FACTORS

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. 

SEGMENTATION

By Type Analysis

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.

By Application Analysis

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.

KEY INDUSTRY PLAYERS

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.

LIST OF KEY COMPANIES PROFILED:

• ArcelorMittal (Luxembourg)


• Nippon Steel Corporation (Japan)


• JFE Steel Corporation (Japan)


• Baosteel Group Corporation (China)


• Tata Steel (India)


• POSCO (South Korea)


• Voestalpine Group (Austria)


• Thyssenkrupp Steel North America, Inc. (U.S.)


• Optimus Steel (U.S.)


• Kobe Steel USA Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS: 

• May 2020 – POSCO launched a sea forest cultivation program on Ulleung Island. It used steel slag to create a sea forest and save the marine ecosystem. POSCO provided the steel slag and also participated directly from the production to the installation stage.


• August 2019– Voestalpine High Performance Metals Corp. announced the opening of its new steel store in Cleveland, Tennessee. The new facility provides tool steel solutions and delivery services to manufacturing communities located in the South Eastern part of the U.S.

REPORT COVERAGE

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.

Report Scope & Segmentation