Press release
Iron Ore Pellets Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
Iron Ore Pellets Market
The Business Research Company offers in-depth market insights through Iron Ore Pellets Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The iron ore pellets market size has grown strongly in recent years. It will grow from $58.1 billion in 2023 to $61.15 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to steel production growth, urbanization and infrastructure development, global automotive industry growth, environmental regulations favoring pelletization, investments in mining infrastructure, resource abundance in key regions..
The iron ore pellets market size is expected to see strong growth in the next few years. It will grow to $75.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to demand for high-quality steel, stricter environmental standards, burgeoning wind energy sector, global trade dynamics, investments in upgrading pellet plants.. Major trends in the forecast period include technology advancements in pelletizing, trade policies and export restrictions, integration of digital technologies, quality and specifications of iron ore pellets..
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Market Segmentation:
The iron ore pellets market covered in this report is segmented -
1) By Product: Blast Furnace Iron Ore Pellet, Direct Reduced
2) By Technology: Oxygen Based/Blast Furnace, Electric Arc Furnace, Electric Induction Furnace
3) By Application: Iron-based Chemicals, Steel Production
Major Driver - The Surge In Iron Ore Pellets Market Fueled By Escalating Steel Demand In Global Construction
Proliferating steel demand in the construction sector is expected to propel the growth of the iron ore pellets market going forward. Construction is one of the most significant steel-using industries, accounting for more than 50% of world steel demand. The iron ore pellets are used to make steel products that are used heavily in construction. For instance, according to the report published by Crisil in January 2021, steel production in India is set to grow to $5 trillion by 2025. Whereas, 22 million tons has produced in 1992 and increased to 142 million in 2020. As per the report, share in infra and construction in steel demand in the USA is to be 40-45%, China 50-55%, India 60-65%, and Japan 25-30%. As per the article published by The Hindu in October 2021, global steel consumption is forecast to grow by 4.5% in 2021 compared to 2020, despite a one percent dip in Chinese demand as the Communist country's economic recovery slows. Therefore, proliferating steel demand in the construction sector is expected to propel the growth of the iron ore pellets market.
Competitive Landscape:
Major companies operating in the iron ore pellets market report are Bahrain Steel BSC, ArcelorMittal SA, Cleveland-Cliffs Inc., Ferrexpo plc, Jindal SAW Limited, Luossavaara-Kiirunavaara AB, SIMEC Group Limited, Vale SA, Xindia Steels Limited, BHP Group Limited, Fortescue Metals Group Limited, United States Steel Corporation, Arya Iron & Steel Company Private Limited, Kudremukh Iron Ore Company Limited, Metalloinvest Management Company LLC, Rio Tinto plc, Anglo American plc, Samarco Mineracao S.A., EVRAZ plc, Qatar Steel Company, Essar Steel Limited, JSW Steel Limited, Tata Steel Limited, Kobe Steel Ltd., Nippon Steel Corporation, Pohang Iron and Steel Company, China Baowu Steel Group Corporation Limited, Shougang Corporation, Gerdau S.A., Thyssenkrupp AG
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Top Trend - Strategic Alliances And Expansions Shape The Landscape Of The Iron Ore Pellets Market
Business expansions and strategic partnerships are a key trend gaining popularity in the iron ore pellets market. Major companies operating in the iron ore pellets are forming partnerships to strengthen their position in the market. For instance, in 2022, Rio Tinto, an Australia-based metals and mining corporation, collaborated with Salzgitter for an undisclosed amount. Under this agreement, the two companies aim to study the optimization of Rio Tinto's high-quality iron ore products for use in one of Salzgitter's projects called SALCOS, a green steel project in Germany. Salzgitter is a German-based steel producing company specializing in production, processing, and global trade in rolled steel and tube products.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Iron Ore Pellets Market Characteristics
3. Iron Ore Pellets Market Trends And Strategies
4. Iron Ore Pellets Market - Macro Economic Scenario
5. Iron Ore Pellets Market Size And Growth
…..
27. Iron Ore Pellets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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