Press release
The Surge In Iron Ore Pellets Market Fueled By Escalating Steel Demand In Global Construction: A Key Catalyst Accelerating Iron Ore Pellets Market Growth in 2025
Iron Ore Pellets Market
Iron Ore Pellets Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for iron ore pellets has seen a consistent expansion over the past few years. Its growth trajectory is projected to rise from $60.29 billion in 2024 to $62.01 billion in 2025, marking a compound annual growth rate (CAGR) of 2.9%. This growth during the historic period is due to several factors, including an increase in steel production, urban and infrastructure development, expansion in the worldwide automotive industry, environmental laws promoting palletization, investment in mining infrastructure, and resource abundance in crucial regions.
Iron Ore Pellets Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming times, a robust surge is projected in the iron ore pellets market, expanding to a substantial $77.31 billion in 2029 with a compound annual growth rate (CAGR) of 5.7%. Factors contributing to the rise during this forecast period consist of the rising requirement for superior quality steel, stricter environment regulations, rapidly developing wind energy sector, global business trends, and investment in enhancing pellet manufacturing units. Noteworthy tendencies in this forecast span include technological progress in pelletization, foreign trade regulations and export limitations, incorporation of digital technologies, and standards and specifications of iron ore pellets.
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What Are the Drivers Transforming the Iron Ore Pellets Market?
The iron ore pellets market is likely to experience a surge in growth due to the expanding steel demand in the construction industry. The construction sector is a significant user of steel, contributing to over 50% of the global steel demand. Iron ore pellets are extensively employed in the manufacturing of steel products used in construction. The World Steel Association, a non-profit organization based in Belgium, predicted in June 2022 that the global demand for steel would see a 0.4% rise, equating to approximately 1,840.2 million tonnes. In 2023, this demand was projected to show further growth of 2.2%, amounting to nearly 1,881.4 Mt. Hence, the escalating need for steel in the construction industry is set to majorly drive the growth of the iron ore pellets market.
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What Are the Key Trends Driving Iron Ore Pellets Market Growth?
The trend of business expansion and strategic alliances is gaining momentum in the iron ore pellets industry. Major firms in this sector are joining forces to fortify their market position. As an illustration, in 2022, Rio Tinto, an Australian mining and metals corporation, partnered with Salzgitter for an undisclosed sum. The primary goal of this partnership is to explore how Rio Tinto's premium iron ore products can be optimized for one of Salzgitter's projects, named SALCOS, a green steel initiative in Germany. Salzgitter is a Germany-based steel manufacturer that specializes in the creation, processing, and international trading of rolled steel and tube goods.
Which Segments in the Iron Ore Pellets Market Offer the Most Profit Potential?
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 Or Blast Furnace, Electric Arc Furnace, Electric Induction Furnace
3) By Application: Iron-based Chemicals, Steel Production
Subsegments:
1) By Blast Furnace Iron Ore Pellet: Standard Blast Furnace Pellets, High-Grade Blast Furnace Pellets
2) By Direct Reduced: DRI Pellets For Electric Arc Furnaces, DRI Pellets For Direct Reduction Processes
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Which Firms Dominate the Iron Ore Pellets Market by Market Share and Revenue in 2025?
Major companies operating in the iron ore pellets market 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
Which Regions Offer the Highest Growth Potential in the Iron Ore Pellets Market?
Asia-Pacific was the largest region in the iron ore pellets market in 2024. The regions covered in the iron ore pellets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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