Iron Ore Pellets Market Demands Analysis and Growth Strategies till 2025
Category: #reports  By Rahul Sankrityayan  Date: 2020-05-08
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Iron Ore Pellets Market Demands Analysis and Growth Strategies till 2025

DR grade iron ore pellets market 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.

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.

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Growth Drivers are

  • Shifting trend towards carbon less steelmaking across North America and Europe
  • Proliferating steel demand in the construction sector
  • Unfavorable government policies related to sintering activities in China
  • Increasing steel usage in the automotive industry
  • Superior product benefits as compared to lumps or sinter

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.

Iron Ore Pellets Market is expected to exceed USD 95 billion by 2025. Rising steel production across the globe along with growing concerns over carbon less steelmaking will develop market in future.

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

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

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Know about Market growth in New Research and its Top growing factors by Key Companies like

  1. Anglo American
  2. BHP Billiton
  3. Cleveland-Cliffs
  4. Evraz
  5. FERREXPO
  6. Fortescue Metals
  7. Jindal SAW Ltd
  8. LKAB
  9. Meinvest
  10. Nordic Iron Ore AB
  11. Rio Tinto
  12. Samarco
  13. Ternium
  14. US Steel
  15. Vale

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.

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

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About Author

Rahul Sankrityayan

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Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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