The global iron ore pellets market size is expected to reach around US$ 98.2 Bn by 2026, growing at a noteworthy CAGR of around 5.1% over the forecast period 2019 to 2026.
Iron ore pellets are the feed fabric for steel manufacturing businesses and fed to the blast furnace and DRI mills inside the steelmaking process. The pellets industry is witnessing a structural change in the demand-supply state of affairs led via a shift in iron and metallic industry towards higher pleasant raw material. This fashion is further strengthened by way of the Chinese authorities rationalization of the metallic industry in addition to the implementation of environmental controls to reduce emissions from the nearby manufacturing of pig iron and sintering.
Rising steel production across the globe alongside growing concerns over carbon much less steelmaking will develop the market in the future. Increasing steel demand throughout the most important end-person industries will show to be a driving component for the iron ore pellets marketplace over the projected period. According to the World Steel Association, a global completed steel marketplace call for has been expected at around USD 1.sixty eight billion metric lots in 2018 and it's going to develop at a sizable rate over the forecast timeframe. Growing automotive and creation industries internationally will create a call for metallic, for you to again offer an opportunity to manufacturers of pellets. On the premise of iron content, the iron ore pellets market has been segmented into magnetite, hematite, and others. Another section accommodates limonite, goethite, siderite, etc. and could account for around 15% of the total market over have a look at period. Traveling grate (TG) pelletizing market quantity will move a value of over USD 65 billion at the stop of the exam period. This technique consists of a couple of stages such as sintering, oxidation, drying & cooling. The stationary bed of pellets is passed through every stage which will obtain the very last product. The Middle East & Africa market will be growing at a great rate over the forecast time period attributable to growing DR grade pellets intake in this region. Major countries along with Saudi Arabia, Iran, Turkey, etc. Are planning to expand their centers for the electric arc furnace steel manufacturing in close to future, so one can create ability growth opportunities for iron ore pellets manufacturers in MEA.
By technology, the electric arc furnace segment dominated the iron ore pellets
The electric arc furnace has dominated the technology type segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period from 2019 to 2026. The advantage of an electric metal casting furnace is that temperature can go up to 1800 Celsius. A large reduction in specific energy (energy per unit weight) required to produce the steel. Another benefit is flexibility: EAFs can be rapidly started and stopped. A typical steelmaking arc furnace is the source of steel for a mini-mill, which may make bars or strip products. Mini-mills can be sited relatively near to the markets for steel products, and the transport requirements are less than for an integrated mill, which would commonly be sited near a harbor for access to shipping.
Based on technology, the electric induction furnace is expected to dominate during the forecast period
The electric induction furnace segment dominated the iron ore pellets market with the highest CAGR during the forecast period. An electric induction furnace is used by manufacturers to melt metal. Unlike more traditional methods, which involve heating the metal through an external means like fire, the induction furnace melts metal with an electrical charge. The most widely used melting procedures in the modern-day, this process has strong metallurgical control. Efficient, economic, as well as durable, these furnaces are capable to meet a vast range of metals. Since electricity is used for heating the melting practice can produce precise heat. Therefore, an electric induction furnace can be used more accurate melting of alloys and resistant metals. In addition to the operation is simple, small quantities can also be melted quickly.
The market research study on “Global Iron Ore Pellets Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global iron ore pellets market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global Iron ore pellets market, its market grade, technology, iron, pelletizing and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global iron ore pellets market size and volume, and segment markets by market grade, technology, iron, pelletizing and geography along with the information on companies operating in the market. The global iron ore pellets market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America accounted for the high market share of the global surgical robotics market and the region is also expected to maintain its dominance over the forecast period. Some major factors contributing to this growth are different huge purposes behind the predominance of North America are due to these pellets turning into the one largest supply of iron for blast furnaces operational within the North yank region. To boot, the demand for steel within the U.S. is rising exponentially. Steel is taken into account to be a sturdy producing frame of any automotive during this region that is that the key issue seemingly to propel this regional market’s growth within the future years. Major countries as well as Asian country, Iran, Turkey, etc. are progressing to expand their facilities for the electrical arc chamber steel producing in close to future, which is able to produce potential growth opportunities for ore pellets makers in MEA.
The key companies involved in the market are Vale, LKAB, Metso Corporation, Arya Group, Iron Ore Company of Canada Inc., METALLOINVEST MC LLC, Simec Group, Cleveland-Cliffs Inc., Jindal Saw Ltd., Ferrexpo Plc, and Xindia Steels.
Market By Grade
Market By Technology
Market By Iron
Market By Pelletizing
Market By Geography
Iron ore pellets are the feed fabric for steel manufacturing businesses and fed to the blast furnace and DRI mills inside the steelmaking process.
According to Acumen Research and Consulting, the iron ore pellets market value is anticipated to be worth around US$ 98.2 Bn in 2026.
The iron ore pellets market is anticipated to grow over 5.1% CAGR during the forecast period 2019 to 2026.
In 2018, electric arc furnace segment dominated the iron ore pellets market.
Some major factors contributing to this growth are different huge purposes behind the predominance of North America are due to these pellets turning into the one largest supply of iron for blast furnaces operational within the North yank region.
Asia Pacific is projected to grow at a fast pace during forecast period in the iron ore pellets market.
Vale, LKAB, Metso Corporation, Arya Group, Iron Ore Company of Canada Inc., METALLOINVEST MC LLC, Simec Group, Cleveland-Cliffs Inc. are the top players operating in the iron ore pellets market.