The latest market report published by Credence Research, Inc., “Global Iron Ore Pellets Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Iron Ore Pellets Market generated revenue of around USD 45.5 billion in 2021 and is anticipated to grow a CAGR of over 3.5% during the forecast period from 2022 to 2028 to reach around USD 55.9 billion in 2028.
The expansion of steel production in Asia Pacific’s emerging nations, including Vietnam, China, and India, is a key element anticipated to drive market expansion in the ensuing years. Iron ore is ground into spherical pellets that are used to make steel. The COVID-19 pandemic-related lockdown enforced in several nations at the end of 2019 has halted manufacturing, which has significantly impacted the demand for iron pellets in the first half of 2020. However, numerous economic analysts predict that the global economy will see a significant recovery beginning in 2021, which will likely fuel the growth of the iron ore pellets business shortly.
Browse Global Iron Ore Pellets Market report-https://www.credenceresearch.com/report/iron-ore-pellets-market
The global iron ore pellets market is bifurcated into Source, Palletizing Process, Technology, and Balling Technology. Grade, Application, Industry and Geography. Based on source, the market is categorized into hematite, magnetite, taconite, and others. Based on palletizing process, the global market is segmented into grate kilns and straight traveling grates. Based on technology, the market is categorized into oxygen based/blast furnaces, electric arc furnaces, and electric induction furnaces. Based on balling technology, the global market is segmented into the balling disc and drum. Based on application, the market is categorized into iron-based chemicals and steel production. Based on grade, the global market is segmented into a blast furnace and direct reduction. The market is categorized into construction, automotive, railway, consumer goods, shipping, industrial, and aerospace. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Asia Pacific accounted for 41.9% of the iron ore pellets market globally in terms of revenue in 2021. This trend is anticipated to continue throughout the forecast. The region’s development is attributed to developing countries like China, India, and Vietnam, whose economies have significant sectors for the production of crude steel and are experiencing an increase in investment in the manufacturing sector and other end-use industries. At the same time, North America is predicted to increase at the quickest rate.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global iron ore pellets market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global iron ore pellets market segmentation based on source, grade, technology, palletizing process, balling technology, application, and industry.
- Major countries in each region with their import/export statistics
- The global iron ore pellets market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
The Global Iron Ore Pellets Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Source (2016–2028; US$ Bn)|
|By Grade (2016–2028; US$ Bn)|
|By Technology (2016–2028; US$ Bn)|
|By Palletizing Process (2016–2028; US$ Bn)|
|By Balling Technology (2016–2028; US$ Bn)|
|By Application (2016–2028; US$ Bn)|
|By Industry (2016–2028; US$ Bn)|
|By Geography Segment (2016–2028; US$ Bn)|