This is an experimental study on manufacturing of non-cement matrix. Materials like cement and blowing agent in foamed concrete is replaced by by-products from blast furnace slag and paper ash. Further, the experiment was performed by replacing alkali with natural gypsum by (0, 5, 15, 20, 25, 35, 45) of weight of alkali (wt.%) in order to reduce the amount of expensive alkali activator. Sample NG-0.15 with density showed lowest. After this point, density increases as replacement ratio increases. The compressive strength test result, showed a similar trend with density. And it showed that compressive strength of the NG-0.45 was highest.