Iron Ore Pellets Market is expected to reach USD 85.22 billion by 2029

PRESS RELEASE
Published July 24, 2023

Global Iron Ore Pellets Market Size, Status, and Forecast 2029. In-depth research accumulated to offer Latest insights about acute features of the global Iron Ore Pellets market. This report provides a detailed overview of key factors in the Iron Ore Pellets Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Iron Ore Pellets in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of COVID-19 on the regional economy.

Global Iron Ore Pellets Market was valued at USD 62.75 billion in 2021 and is expected to reach USD 85.22 billion by 2029, registering a CAGR of 3.90% during the forecast period of 2022-2029.

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Some of the major players operating in the Iron Ore Pellets market

Vale (Brazil), Mitsubishi Corporation RtM Japan Ltd (Japan), Cleveland-Cliffs Inc (U.S.), United States Steel Corporation. (U.S.), ARCELORMITTAL (Luxembourg), Metso Outotec (Finland), KIOCL Limited (India), FERREXPO PLC (Switzerland), JINDAL SAW LTD. (India), Iron Ore Company of Canada (Canada),  LKAB Koncernkontor (Sweden), METALLOINVEST MC LLC (Russia), Bahrain Steel (Bahrain), SIMEC (England), among others.

Global Iron Ore Pellets Market Scope

Source

  • Hematite
  • Magnetite
  • Taconite
  • Others

Grade

  • Blast Furnace
  • Direct Reduction

Technology

  • Oxygen Based/Blast Furnace
  • Electric Arc Furnace
  • Electric Induction Furnace

Pelletizing Process

  • Grate Kiln
  • Straight Travelling Grate

Balling Technology

  • Balling Disc
  • Balling Drum

Application

  • Iron-based Chemicals
  • Steel Production

Industry

  • Construction
  • Automotive
  • Railway
  • Consumer Goods
  • Shipping
  • Industrial
  • Aerospace
  • Others

Drivers

  • Unavailability of High-grade Lump Ore

Earlier, lump ores were the principal source of iron in the manufacturing process. However, due to extensive mining activity by many corporations, high-grade lump ore reserves have been rapidly diminishing over time. The iron and steel industry is concerned about the restricted availability of high-grade lump ore, as it is becoming increasingly difficult to source adequate lump ore for direct use in blast furnaces. Furthermore, the sintering process, which is utilized when lump ore is used, produces more pollution than the pelletizing process, so major steel companies prefer to use iron ore pellets as blast furnace feed over lump ore. As a result of these reasons, the demand for iron ore pellets is expanding.

Furthermore, the steel demand is predicted to rise globally as the building and construction industry grows in tandem with rising industrialization. The global iron ore pellets market is predicted to increase in tandem with the growth of the steel sector.

Iron Ore Pellets Market Country Level Analysis

Iron Ore Pellets market is analyzed and market size, volume information is provided by country, site location and foundation type as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia Pacific dominates the market in terms of market share and market revenue and will continue to increase its dominance over the forecast period of 2022-2029. The growth of the market in this region is due to the fact that pellets are a better feed for seasonal than other feeds due to various advantages, including uniform size and high metallization rate within the region. On the other hand, North America is estimated to witness lucrative growth over the forecast period of 2022-2029, owing to high demand for steel from energy-intensive industries and iron pellets reducing costs. It also has a low impact on the environment, which will increase the demand in the region.

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Important Sections from the Table of Contents:

  • Global Iron Ore Pellets Market Overview
  • Economic Impact on Industry
  • Market Competition by Manufacturers
  • Production, Revenue (Value) by Region
  • Supply (Production), Consumption, Export, Import by Regions
  • Production, Revenue (Value), Price Trend by Type
  • Market Analysis by Application
  • Manufacturing Cost Analysis
  • Industrial Chain, Sourcing Strategy and Downstream Buyers
  • Marketing Strategy Analysis, Distributors/Traders
  • Market Effect Factors Analysis
  • Global Iron Ore Pellets Market Forecast

 

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