Iron Ore Pellets - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Iron Ore Pellets Market is accounted for $64.50 billion in 2019 and is expected to reach $115.03 billion by 2027 growing at a CAGR of 7.5% during the forecast period. Some of the key factors propelling the market growth include rising product demand from the steel industry, growing commercial, residential, & other construction projects, rising concerns over carbon footprint and efforts to reduce GHG emission. However, fluctuating prices of raw materials is restraining the iron ore pellets market. Moreover, growing automotive and construction industries across the world will create demand for steel, which will again provide an opportunity to manufacturers of pellets.
Iron ore pellets are one of the essential raw materials used by the steel industry for steel production. These pellets help in the rapid expansion of the steel sector as well as assist in sustaining the global economy. Iron ore pellets have good physical and metallurgical properties, owing to which, they are a vital raw material for different types of iron and steel production. Superior properties of iron ore pellets as compared to traditional iron ore feed materials as lump overs and sinter feed and environmental benefits of iron ore pellets in iron & steel making processes.
By product, blast furnace (BF) pellets segment is anticipated to grow at the significant rate during the forecast period. It is a lower grade product when compared to iron pellets used in Direct Reduced (DR) method, and therefore has a lower cost compared to its counterpart. Blast furnace method is usually found in integrated steel plants. Lower cost of these iron ore pellets, coupled with abundance of integrated steel plants found in developed economies, is the primary factor boosting the growth of the BF segment.
On the basis of geography, Asia Pacific region is anticipated to witness the considerable growth over the forecast period. This is attributed to a large steel manufacturing base of China. According to the World Steel Association, China alone produced approximately 53.3% of the global crude steel in 2019. Moreover, quick and effective recovery of China from COVID-19 pandemic in 2020 is likely to benefit the market growth in the country as various parts in China have already begun their manufacturing activities.
Some of the key players in iron ore pellets market include SIMEC Group, Bahrain Steel, Xindia Steels Ltd, Iron Ore Company of Canada, Anglo American, Fortescue Metals, ArcelorMittal, Metso Corporation, Vale, Rio Tinto, Samarco, Ternium, Cleveland-Cliffs, BHP Billiton, FERREXPO, Metalloinvest, LKAB, NMDC Limited, Jindal SAW Ltd, and Arya Group.
• Direct Reduced (DR) Iron Ore Pellet
• Blast Furnace (BF) Iron Ore Pellet
Iron Content Covered:
• Iron Based Chemicals
• Steel Production
• Balling Technology
• Steelmaking Technology
Pelletizing Processes Covered:
• Grate Kiln (GK)
• Travelling Grate (TG)
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
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- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Supply chain trends mapping the latest technological advancements
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