Iron Ore Pellets Market to hit $95 billion by 2026: Global Market Insights, Inc.

Iron Ore Pellets Market revenue is projected to register over 5.5% CAGR up to 2026 as growing trend towards carbon free steel making will propel the industry growth.

Selbyville, Delaware, UNITED STATES

Selbyville, Delaware, Dec. 13, 2019 (GLOBE NEWSWIRE) --

Global Iron Ore Pellets Market value is expected to cross USD 95 billion by 2025, according to a new research report by Global Market Insights, Inc. Rising steel production across the globe along with growing concerns over carbon less steelmaking will develop market in future.

Increasing steel demand across the major end-user industries will prove to be a driving factor for the iron ore pellets market over the projected period. According to the World Steel Association, global finished steel market demand has been estimated at around USD 1.68 billion metric tons in 2018 and it will grow at a substantial rate over the forecast timeframe. Growing automotive and construction industries across the world will create demand for steel, which will again provide an opportunity to manufacturers of pellets.         

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DR grade iron ore pellets industry will be reporting market volume exceeding USD 20 billion by 2026. These grades are gaining acceptance in emerging countries owing to increasing facilities for electric arc furnace steelmaking. New players will be more likely to invest into EAF facilities as the initial set up cost is considerably low as compared to oxygen-based steelmaking.

Some major findings of the iron ore pellets market report include:

  • Highly consolidated industry with key companies accounting for the majority of the market share
  • Restructuring activities in the steel-sector will provide ample opportunities to pellet manufacturers
  • Absence of backward integration of steelmakers with mining companies in western countries
  • Growing demand for high quality steel will create the demand for iron ore pellets in future
  • Steelmaking without using coke is going to be key technological solution for major end user industries in the future

Electric arc furnace will project a growth rate of around 6% over the coming years due to growing importance of DR grade pellets in emerging economies. Major countries including India, Iran, Turkey, etc. are investing into building capacities for the electric arc furnace, which may increase the product usage in the forecast time period.

Browse key industry insights spread across 200 pages with 293 market data tables & 23 figures & charts from the report, “Iron Ore Pellets Market Size By Grade (Blast Furnace, Direct Reduction), By Technology (Electric Arc Furnace, Electric Induction Furnace, Oxygen Based/Blast Furnace), By Iron Content (Hematite, Magnetite), By Pelletizing Process (Travelling Grate, Grate Kiln), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026” in detail along with the table of contents:

On the basis of iron content, the iron ore pellets market has been segmented into magnetite, hematite and others. Others segment comprises of limonite, goethite, siderite, etc. and will account for around 15% share of total market over study period.

Travelling grate (TG) pelletizing market volume will cross a value of over USD 65 billion at the end of the study period. This process consists of multiple stages including sintering, oxidation, drying & cooling. Stationary bed of pellets is passed through each stage in order to obtain final product.

Middle East & Africa market will be growing at a considerable rate over forecast time period owing to rising DR grade pellets consumption in this region. Major countries including Saudi Arabia, Iran, Turkey, etc. are planning to expand their facilities for the electric arc furnace steel manufacturing in near future, which will create potential growth opportunities for iron ore pellets manufacturers in MEA.

Few of the major participants in the iron ore pellets market include Rio Tinto, BHP Billliton, Vale, and Fortescue Metals.     

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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