Iron Ore Pellet Market Size, Share, Trends, Competitive Scenario and Industry Growth Analysis
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Data Bridge Market Research analyses that the iron ore pellet market was valued at USD 62.68 billion in 2021 and is expected to reach USD 84.35 billion by 2029, registering a CAGR of 3.78 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Iron ore pellets are the spheres of normally 8–18 mm (0.31–0.71 in) which is used as raw material for DRI Kilns and blast furnaces. They normally contain 63%-67% Fe and several other materials which is regulating the metallurgic properties and chemical composition of the pellets. For the formation of iron ore pellet use pelletizing process. It is an agglomeration process in which iron ore fines are converted into ‘uniformed sized iron ore pellets’ that can be charged directly into a vertical furnace or into a blast furnace (BF) or rotary kiln generally used for the production of direct reduced iron (DRI).
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Scope of the Iron Ore Pellet Market Report:
The iron ore pellet market is segmented on the basis of source, grade, technology, pelletizing Process, balling technology and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Oxygen Based/Blast Furnace
Electric Arc Furnace
Electric Induction Furnace
Straight Travelling Grate
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Some of the major players operating in the iron ore pellet market are:
Rio Tinto (UK)
BAILEY METAL PRODUCTS INC. (India)
Fortescue Metals Group Limited (Australia)
Hancock Prospecting Pty Ltd (Australia)
Cleveland-Cliffs Inc (US)
United States Steel Corporation (US)
LKAB Koncernkontor Box (Sweden)
NMDC Limited (India)
Mitsubishi Corporation (Japan)
Metso Outotec (Finland)
KIOCL Limited (India)
FERREXPO PLC (Switzerland)
JINDAL SAW LTD. (India)
METALLOINVEST MC LLC (Russia)
Anglo American Plc (UK)
BHP (Australia), Evraz, (UK)
Arya Group (India)
Rexon Strips Limited (India)
Iron Ore Pellet Market Regional Analysis/Insights
The Iron Ore Pellet market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Iron Ore Pellet market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Iron Ore Pellet within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Iron Ore Pellet market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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