Recycling Solutions Doubles Exports and Achieves 71% Revenue Growth in 2024

By the end of 2024, Recycling Solutions had successfully sold 1.86 million tons of bottom-ash materials and smelter slags — a 34% increase compared to 2023. The primary driver behind this growth was granulated slag sales, which surged by 39%.

Overall, Ukrainian exports of granulated slag to the EU experienced a 135% boost, reaching 889.5 thousand tons. Recycling Solutions contributed 718 thousand tons, accounting for over 80% of total exports. Currently, Ukrainian suppliers provide 8% of Europe’s total imports of this essential raw material.

“Our primary customers are cement and concrete manufacturers. Following a sharp market decline in 2022, conditions stabilized in 2023. However, in 2024, domestic growth failed to meet expectations, prompting us to actively seek new opportunities in European countries,” Vadym Khoroshko, Director of Construction Additives at Recycling Solutions, says. “We prioritized export expansion, particularly to European markets, where demand for eco-friendly raw materials continues to rise under the Green Deal.”

In 2024, Recycling Solutions further solidified its international footprint. Poland, Slovakia, and Romania emerged as the leading importers of granulated slag, while Polish firms also became the largest purchasers of Ukrainian dry ash. Additionally, microsphere shipments grew by 16%, with the Netherlands, Italy, and Turkey among the key export destinations.

Despite challenges, demand for construction admixtures in Ukraine remained steady, supported by government initiatives and private sector investments in 2024. Recycling Solutions thus responded by boosting sales of dump slag — an essential material for road construction and rapid infrastructure repairs — to 426 thousand tons (+17%). The company also delivered 349 thousand tons of additional ash and slag materials, marking a 24% increase from 2023.

Throughout the year, Recycling Solutions invested UAH 5 million in business expansion. A significant milestone was the successful relocation of its microsphere processing facility from Donetsk Oblast to Burshtyn, Ivano-Frankivsk Oblast.

By-products from heat and power and steel industries serve as recycled raw materials with a low carbon footprint. Their use enables customers to meet sustainable construction standards, particularly in Europe, where the Carbon Border Adjustment Mechanism (CBAM) — a new European regulation introduced in 2023 — imposes taxation on carbon emissions from imported products, further incentivizing the adoption of green solutions. With an unwavering focus on recycling efficiency and environmental responsibility, Recycling Solutions not only expanded its sales in 2024, but also reinforced its contribution to sustainable construction practices worldwide.