PUBLISHER: Azoth Analytics | PRODUCT CODE: 1356376
PUBLISHER: Azoth Analytics | PRODUCT CODE: 1356376
Azoth Analytics has released a research report titled "Global Iron Ore DR Pellets Market (2023 Edition)" which provides a complete analysis of the Global Iron Ore DR Pellets industry in terms of market segmentation By Production Process (Coal Based and Gas Based), By Product Source (Hematite, Magnetite and Other Product Source), By Application (Steel Production and Iron Industry) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The research report covers a detailed analysis of the regions (Americas, Europe, APAC, Middle East Africa) and 10 countries (United States, Canada, Brazil, Mexico, Germany, Russia, United Kingdom, China, Japan and India). Additionally, the research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast. The research report also assesses growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.
The Global Iron Ore DR Pellets market showcased growth at a CAGR of 6.26% during 2019-2022. The market was valued at USD 7.62 Billion in 2022 which is expected to reach USD 21.1 Billion in 2029. Stricter laws and an increasing commitment to sustainability are a result of growing worries about climate change and its effects on the environment. Because they provide a more ecologically friendly alternative to conventional blast furnace processes, which generate more emissions, DR pellets are preferred in the manufacturing of steel. Moreover, DR technology enables the substitution of coke, a common reducing agent in blast furnaces, with natural gas or hydrogen as reducing agents
The Global Iron Ore DR Pellets Market is expected to grow in the forecast period and register a CAGR of 16.3% during the forecast period. The global demand for steel has been increasing, primarily driven by infrastructure development, construction projects, and industrialization in emerging economies. Iron Ore DR Pellets are a key raw material for steel manufacturing through the direct reduction process, making them in high demand. Moreover, in comparison to conventional blast furnaces, using Iron Ore DR Pellets in the direct reduction process may be more cost-effective
Moreover, Iron ore pellets are a critical raw material for steel production. As the global economy grows and urbanization continues, there is an increasing demand for steel to build infrastructure, automobiles, and various consumer goods. This drives up the need for iron ore pellets. Iron ore pellets offer better efficiency and quality in steel production. They have a higher iron content and more uniform chemical composition than iron ore fines, resulting in improved yield and reduced energy consumption in the blast furnace. This makes them an attractive choice for steelmakers looking to optimize their processes.
Demand for steel worldwide will witness a 2.3 per cent growth in 2023 and 1.7 per cent in 2024, the World Steel Association (worldsteel), a body with a membership of every steel-producing country, has projected the high growth of the steel industry globally. Steel production is one of the primary drivers of the iron ore pellets market. The growing demand for steel from various sectors such as construction, automotive, and infrastructure is fueling the need for DR Iron Ore pellets, which are a critical raw material for steel manufacturing. High demand for steel drives increased production by steel manufacturers. As a result, there is a greater need for iron ore pellets used in the direct reduction process. Producers of DR pellets will experience heightened demand, leading to higher production volumes.
Moreover, steel manufacturers, using the direct reduction method, increase their utilization rates to meet the soaring steel demand. This necessitates a proportional surge in the production of DR pellets. Existing pellet producers strive to maximize their output, operating at or near full capacity to capitalize on favourable market conditions.
High demand encourages the exploration of new markets and the expansion of existing ones. Pellet producers seek to establish long-term relationships with steel manufacturers, securing contracts for the supply of DR pellets. Market development efforts may also involve geographical expansion, targeting regions with emerging steel industries or those experiencing infrastructure development.
List of Tables
Table A1: Global Impact of Macro Economic Factors, By Region
Table A2: United States Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A3: United States Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A4: United States Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A5: United States Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A6: United States Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A7: United States Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A8: Canada Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A9: Canada Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A10: Canada Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A11: Canada Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A12: Canada Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A13: Canada Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A14: Brazil Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A15: Brazil Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A16: Brazil Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A17: Brazil Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A18: Brazil Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A19: Brazil Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A20: Mexico Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A21: Mexico Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A22: Mexico Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A23: Mexico Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A24: Mexico Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A25: Mexico Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A26: Rest of Americas Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A27: Rest of Americas Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A28: Rest of Americas Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A29: Rest of Americas Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A30: Rest of Americas Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A31: Rest of Americas Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A32: Germany Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A33: Germany Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A34: Germany Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A35: Germany Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A36: Germany Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A37: Germany Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A38: Russia Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A39: Russia Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A40: Russia Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A41: Russia Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A42: Russia Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A43: Russia Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A44: United Kingdom Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A45: United Kingdom Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A46: United Kingdom Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A47: United Kingdom Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A48: United Kingdom Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A49: United Kingdom Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A50: Rest of Europe Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A51: Rest of Europe Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A52: Rest of Europe Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A53: Rest of Europe Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A54: Rest of Europe Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A55: Rest of Europe Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A56: China Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A57: China Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A58: China Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A59: China Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A60: China Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A61: China Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A62: India Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A63: India Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A64: India Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A65: India Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A66: India Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million
Table A67: India Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A68: Japan Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A69: Japan Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A70: Japan Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A71: Japan Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A72: Japan Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A73: Japan Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A74: Rest of Asia Pacific Iron Ore DR Pellets Market, By Production Process, By Value, 2019-2022 (USD Million)
Table A75: Rest of Asia Pacific Iron Ore DR Pellets Market, By Production Process, By Value, 2024-2029 (USD Million)
Table A76: Rest of Asia Pacific Iron Ore DR Pellets Market, By Product Source, By Value, 2019-2022 (USD Million)
Table A77: Rest of Asia Pacific Iron Ore DR Pellets Market, By Product Source, By Value, 2024-2029 (USD Million)
Table A78: Rest of Europe Iron Ore DR Pellets Market, By Application, By Value, 2019-2022 (USD Million)
Table A79: Rest of Europe Iron Ore DR Pellets Market, By Application, By Value, 2024-2029 (USD Million)
Table A80: Cliffs Key Company Financials, 2020-2022
Table A81: LKAB Key Company Financials, 2020-2022
Table A82: Vale Key Company Financials, 2020-2022
Table A83: BHP Key Company Financials, 2021-2023
Table A84: Rio Tinto Key Company Financials, 2020-2022
Table A85: Metalloinvest Key Company Financials, 2019-2021
Table A86: Fortescue Key Company Financials, 2021-2023
Table A87: NDMC Key Company Financials, 2021-2023