Mixtures Of Slag Market

The global market for mixtures of slag is expected to see an upward consumption trend over the next eight years, with a forecasted CAGR of +1.0% in volume and +3.4% in value terms from 2022 to 2030. China is the largest consumer and producer of mixtures of slag, followed by India and the United States. Imports and exports of mixtures of slag also show growth, with significant fluctuations in pricing. Overall, the market is forecasted to continue its growth trajectory in the immediate future.

Market Forecast

Driven by rising demand for mixtures of slag worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 231M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $43.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Mixtures Of Slag

In 2022, global consumption of mixtures of slag reduced to 214M tons, shrinking by -2.5% compared with 2021. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, global consumption attained the maximum volume at 226M tons in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global mixtures of slag market value stood at $33.3B in 2022, with an increase of 2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a mild slump. Global consumption peaked at $43.4B in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

China (50M tons) remains the largest mixtures of slag consuming country worldwide, comprising approx. 23% of total volume. Moreover, mixtures of slag consumption in China exceeded the figures recorded by the second-largest consumer, India (17M tons), threefold. The United States (12M tons) ranked third in terms of total consumption with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled -2.4%. In the other countries, the average annual rates were as follows: India (-0.2% per year) and the United States (-1.8% per year).

In value terms, the largest mixtures of slag markets worldwide were Indonesia ($4.2B), India ($3.6B) and China ($2.5B), with a combined 31% share of the global market. The United States, Vietnam, Japan, Iran, Pakistan, the Philippines, Brazil, Mexico, the UK and Germany lagged somewhat behind, together accounting for a further 25%.

Among the main consuming countries, Vietnam, with a CAGR of +11.0%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of mixtures of slag per capita consumption in 2022 were the UK (86 kg per person), Japan (60 kg per person) and Germany (54 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the UK (with a CAGR of +6.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Mixtures Of Slag

In 2022, approx. 215M tons of mixtures of slag were produced worldwide; which is down by -2.1% against the year before. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 15% against the previous year. Over the period under review, global production attained the maximum volume at 226M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, mixtures of slag production fell to $34.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 32%. Global production peaked at $36.7B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (51M tons) remains the largest mixtures of slag producing country worldwide, comprising approx. 24% of total volume. Moreover, mixtures of slag production in China exceeded the figures recorded by the second-largest producer, India (17M tons), threefold. The United States (12M tons) ranked third in terms of total production with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled -2.3%. In the other countries, the average annual rates were as follows: India (-0.2% per year) and the United States (-1.8% per year).

Imports

World Imports of Mixtures Of Slag

After three years of growth, overseas purchases of mixtures of slag decreased by -3.7% to 1.3M tons in 2022. Overall, imports, however, continue to indicate a slight increase. The pace of growth was the most pronounced in 2014 with an increase of 85%. As a result, imports attained the peak of 2.8M tons. From 2015 to 2022, the growth of global imports failed to regain momentum.

In value terms, mixtures of slag imports rose slightly to $37M in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 51% against the previous year. As a result, imports reached the peak of $44M. From 2015 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

In 2022, France (277K tons), the Netherlands (256K tons), Finland (205K tons) and Singapore (189K tons) was the key importer of mixtures of slag in the world, mixing up 70% of total import. It was distantly followed by Canada (67K tons), generating a 5% share of total imports. The United States (49K tons), Luxembourg (44K tons), Latvia (41K tons), Belgium (29K tons), Poland (27K tons) and Cameroon (20K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Finland (with a CAGR of +843.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($8.5M), Singapore ($4.3M) and the United States ($4.3M) appeared to be the countries with the highest levels of imports in 2022, with a combined 46% share of global imports. France, Belgium, Finland, Latvia, Cameroon, Poland, Luxembourg and Canada lagged somewhat behind, together accounting for a further 28%.

Finland, with a CAGR of +749.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average mixtures of slag import price amounted to $28 per ton, surging by 8.1% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixtures of slag import price increased by +77.7% against 2014 indices. The most prominent rate of growth was recorded in 2020 an increase of 16% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($88 per ton), while Canada ($2.6 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Mixtures Of Slag

In 2022, the amount of mixtures of slag exported worldwide soared to 2.6M tons, jumping by 49% compared with 2021. Overall, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +9.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mixtures of slag exports skyrocketed to $50M in 2022. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 105%. Over the period under review, the global exports reached the peak figure at $76M in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports By Country

The shipments of the three major exporters of mixtures of slag, namely Lao People's Democratic Republic, China and Canada, represented more than two-thirds of total export. It was distantly followed by Belgium (290K tons) and Sweden (180K tons), together mixing up an 18% share of total exports. The following exporters - Hungary (83K tons) and Oman (43K tons) - together made up 4.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +190.6%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($20M) remains the largest mixtures of slag supplier worldwide, comprising 40% of global exports. The second position in the ranking was held by Lao People's Democratic Republic ($4.9M), with a 9.8% share of global exports. It was followed by Belgium, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +32.3%. In the other countries, the average annual rates were as follows: Lao People's Democratic Republic (+29.8% per year) and Belgium (-7.9% per year).

Export Prices By Country

In 2022, the average mixtures of slag export price amounted to $19 per ton, declining by -12.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 52% against the previous year. The global export price peaked at $43 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($32 per ton), while Oman ($2.1 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+6.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform