Over The Past Decade, There Has Been Substantial Growth In Demand For Iron Ore Pellets

According to a recent study by Fact.MR on iron ore pellets, the market is estimated to be valued at US$ 48 Bn in 2021 and is expected to expand at a compound annual growth rate of 4.3% over the assessment period of 2021-2031.

Fact.MR, a market research and competitive intelligence provider, reveals that iron ore pellet demand is set to witness steady growth attributed to large-scale adoption of pellets in steel making. In addition, the market is set to create an incremental $ opportunity worth approx. US$ 18.6 Bn.

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Stringent regulations by governments and increasing need for lower carbon emissions from the steelmaking sector are set to further fuel overall consumption of iron ore pellets in the steel industry, globally. Iron ore pellets possess superior properties than other available forms, including lumps or sinters.

Key Takeaways from Market Study

• Iron ore pellets market is anticipated to add 2.1X value by 2031.
• Magnetite iron ore pellets capture a major chunk of the market and are set to create an absolute $ opportunity of around US$ 1.2 Bn over 2021-2031.
• Steel industry recovery post Covid-19 (Q2 2021) to add 1.3X value to overall sales of iron ore pellets in 2021.
• Steel production application to account for around 1/2 share of overall iron ore pellet demand in 2021.

“Manufacturers must have an effective raw material sourcing strategy to reduce overall production cost and gain more profit margins,” says a Fact.MR analyst.

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Iron Ore Pellets Industry Research – Key Segments

• By Grade

  • Direct  Reduction (DR)
  • Blast Furnaces (BF)

• By Source

  • Magnetite
  • Hematite
  • Others

• By Application

  • Iron-based Chemicals
  • Steel Production

•  By End Use

  • Iron Ore Pellets for Electric Induction Furnaces
  • Iron Ore Pellets for Oxygen-based/Blast Furnaces
  • Iron Ore Pellets for Electric Arc Furnaces

Regional analysis includes

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS & Russia
• Japan
• Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
• Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

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After reading the Iron Ore Pellets Market report, readers can:

• Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
• Analyze key regions holding significant share of the total Iron Ore Pellets Market revenue.
• Study the growth outlook of the global Iron Ore Pellets Market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use on the Iron Ore Pellets Market growth.
• Investigate the recent R&D projects performed by each Iron Ore Pellets Market player.

The Iron Ore Pellets Market report answers important questions which include:

• What does the status of the Iron Ore Pellets Market look?

• Motocross Gears Market look like after the forecast period?
• Which region has the highest contribution to Iron Ore Pellets Market Devices  why?
• Which players remain at the top of the Iron Ore Pellets Market look?
• What opportunities are available for the Iron Ore Pellets Market players to expand their production footprint?
• Which segment has the maximum impact on the Iron Ore Pellets Market look?

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