Global Copper Slag Market was valued at US$ 580.73 Mn in 2020, and is expected to reach US$ 803.24 Mn by 2027, with a growing CAGR of 5.5% during the forecast period (2021-2027). The utilization of solid waste is emerging as a key challenge for the mining and metallurgy industry. Civil and environmental engineers are working towards developing processes and technologies for utilizing the waste generated from different industries in order to achieve sustainable development, and at the same time, assist companies in the metallurgy value chain in getting additional revenue from waste disposal. Copper slag is one such by-product that is obtained during the smelting and refining of copper. The waste copper slag can be used in areas such as abrasive tools, road construction, and ballast.
Governments in various countries are also encouraging recycling to promote effective waste management. The market is growing due to an increasing preference for Copper Slag on account of environmental concerns, depleting natural reserves and increasing prices of raw metal ores, and the emergence of new technologies. Other factors favoring the growth of this market include increasing urbanization and increasing rate of industrialization in developing countries.
Cement and concrete production has emerged as one of the greatest emerging potential applications where the copper slag can be reused. Companies are reusing copper slag in the production of cement, mortar, and concrete where the copper slag is mixed with lime stone powder, dust and cement. It is being used as a partial replacement of coarse and fine aggregates. The use of copper slag in cement and concrete thus addresses sustainability issues as well as it provides economic benefits for all related industries in copper value chain, particularly in areas where a considerable amount of copper slag is generated.
The research report analyses the ecosystem and value chain of Copper Slag market. The report categorizes the Copper Slag Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
The unique insights provided by this report also includes the following:
|Increasing utilization of copper slag as a sustainable construction material in road constructions||Positive|
|Increasing research and studies related to use of carbon slag as cement replacement in high-performance concrete||Positive|
|Pressing need globally to tackle the ever-increasing demand for development using innovative and environment-friendly ways and optimizing the use of natural resources is one of the key focal points of the organizations||Positive|
In terms of market by application type, the Concrete Filler segment is estimated to be the fastest-growing segment of the Copper Slag market during the forecast period
Based on the application the copper slag market is segmented as a blasting agent, concrete filler, colorant, and others. Copper slag is a highly efficient blasting agent in addition to its properties of cleaning and blasting multiple types of surfaces. The product can be successfully used in open space blasting being an ecological product with minimum impact on the environment. This is anticipated to accelerate the demand for copper slag in blasting applications during the forecast period.
Additionally, concrete and mortar produced by replacing parts of the river sand by copper slag are found to be more resistant in time, has lower water absorption, and have low permeability, which further increases its use as concrete filler.
The Concrete Filler segment was the fastest-growing segment of the Copper Slag market during the forecast period. This can also be attributed to the growing consumption of copper slag material in the construction industry.
The Copper Slag market for the Concrete Filler segment is also expected to grow at a healthy CAGR. The Copper Slag is being increasingly adopted by various organizations across the globe. Building and Construction are estimated to be the largest and fastest-growing end-use industry of the Copper Slag market in terms of market size and CAGR trend during the forecast period.
The Asia Pacific is expected to be the largest region in the forecast period
Asia Pacific region accounted for the largest share of the Copper Slag market followed by the other regions. The North America Copper Slag market is also projected to witness a higher product demand in the coming years on account of increasing consumption in end-user industries. The demand in Asia Pacific region is primarily driven on account of demand from end-user industries. The Asia Pacific region is growing on account of rising urbanization, industrialization, and the presence of a large number of copper manufacturing units that generate the copper slag as waste or by-product. The government initiatives and rise in residential and commercial construction projects have also helped in contributing to a growing market of copper slag.
The key players operating in the copper slag market are:
The report also provides in-depth analysis of recent news developments and investments
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.