Global Iron Ore Pellets market size is estimated to be valued over USD 26,310 million in 2019 and will register a CAGR of 5.1% between 2019 and 2028. It is one of the essential raw materials for steel industry for steel production. Higher demand for steel industry in construction and heavy industries has propelled the market to grow at a significant rate. The industry will continue to register upward trajectory growth throughout the forecast period.
Iron ore pellet is registering stable despite slowdown in Chinese mills. The demand is fullfiled by other prominent regions including India and Eastern Europe countries. In future, the demand will escalate with better economy and higher investment in end-use sectors including construction sector.
Global Iron Ore Pellets Market Size and Forecast: Regional Analysis
Globally Asia Pacific dominated the global share in 2018. The region is dominated by China and South Asia. However, the iron pellets market registered slowdown in 2018 owing to weakening demand from China. Despite slowdown, the industry was able to manage stable price primarily due to arising needs from China and import from Eastern Europe countries. The demand for iron pellets in china will again see rise in China by 2020 end. Slowdown in the region is also attributed to cyclic factors. Pellet demand in China will again register upward trajectory growth by 2020, since mills are switching to emissions-friendly production processes as mandated by government of China. This will have positive impact on iron pellets market in China.
India is one of the key exporter of pellets especially in Japan and china. Recently, in April 2019, 160,000 tons of pellets was shipped to china. While China has been a major importer of pellets, the country is already gripping with large inventories. This could affect overall profitability margin for India based players during the long term. While the inventory could pose a risk for India based players, export to China and Vietnam has increased post supply disruptions by Vale.
North America stands next to Asia Pacific. Pellets in the region has been in demand due to blast furnance operating in the region. North America is the third largest producer of steel post China and Japan. Recently, in 2019, U.S. registered highest steel production since 2007. Over 95 million tonnes of steel was produced in U.S., highest since 2007. Growing industrialization is expected to steel industry run at 90% capacity utilization rate. This will further boost the overall demand for iron ore pellets in the region.
Global Iron Ore Pellets Market Size and Forecast: Competition Landscape
Key Iron Ore Pellets players are:
- Simec Group
- Ferrexpo Plc
- Xindia Steels
- Metso Corporation
- Jindal Saw Ltd.
- Arya Group
- Iron Ore Company of Canada Inc.
- Cleveland-Cliffs Inc.
By Pellet Type:
What Will You Discover in the Report?
- An in-depth analysis of the Iron Ore Pellets market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Iron Ore Pellets market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Iron Ore Pellets market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Iron Ore Pellets industry during the forecast period
- Who are the Iron Ore Pellets industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Iron Ore Pellets Industry Suppliers
- Iron Ore Pellets Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
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