PUBLISHER: The Business Research Company | PRODUCT CODE: 1927974
PUBLISHER: The Business Research Company | PRODUCT CODE: 1927974
Iron ore pellets represent processed iron-bearing material obtained from mining sites through pelletization or advanced treatment methods. These pellets, small balls of iron ore, are integral to the steelmaking process, utilizing previously discarded ore powder. They're a product of technological innovation aimed at maximizing ore utilization. Iron ore pellets find applications across various industries and are produced using diverse technologies like oxygen-based or blast furnaces and electric induction furnaces.
The primary outputs from iron ore pellets comprise blast furnace iron ore pellets and direct reduction products. The term 'blast furnace' denotes the specific furnaces instrumental in extracting pig iron from iron ore, which is further refined into steel. These furnaces also play roles in processing other metals like lead and copper. The technologies involved encompass oxygen-based or blast furnaces, electric arc furnaces, and electric induction furnaces, all contributing significantly to the production of iron-based chemicals and steel.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs on imported iron ore pellets have disrupted the global supply chain, causing higher production costs and delays, particularly affecting regions such as Asia-Pacific and Europe, which are major suppliers. Segments like blast furnace and DRI pellet production are most impacted. Positive effects include promotion of domestic pellet manufacturing, increased investment in high-grade and energy-efficient pellets, and accelerated technology adoption in pelletization processes.
The iron ore pellets market research report is one of a series of new reports from The Business Research Company that provides iron ore pellets market statistics, including iron ore pellets industry global market size, regional shares, competitors with a iron ore pellets market share, detailed iron ore pellets market segments, market trends and opportunities, and any further data you may need to thrive in the iron ore pellets industry. This iron ore pellets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The iron ore pellets market size has grown strongly in recent years. It will grow from $62.01 billion in 2025 to $65.62 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growing demand from steel production, increasing use in blast furnace processes, expansion of iron-based chemical industry, rise in global steel consumption, adoption of oxygen-based pelletization technologies.
The iron ore pellets market size is expected to see strong growth in the next few years. It will grow to $81.35 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing demand for direct reduced iron pellets, growth in electric arc furnace applications, expansion of high-grade pellet production, adoption of sustainable and energy-efficient pellet technologies, growth in emerging markets for steel and iron-based chemicals. Major trends in the forecast period include increasing adoption of dri and blast furnace pellets, rising integration of automation in pellet production, growing development of high-grade iron ore pellets, enhancing energy efficiency in iron ore pellet manufacturing, expanding applications in iron-based chemicals and steel production.
Rising steel demand in the construction sector is anticipated to drive the growth of the iron ore pellets market in the coming years. Construction remains one of the largest consumers of steel, accounting for over 50% of global steel demand. Iron ore pellets are utilized to produce steel products that are extensively employed in construction. For example, in April 2024, the World Steel Association, a Belgium-based non-profit industry body, projected global steel demand to increase by 1.7% in 2024, reaching around 1,793 million tonnes (Mt). Consequently, increasing steel demand in the construction sector is expected to support the expansion of the iron ore pellets market.
Major companies operating in the iron ore pellets market are introducing innovative products such as low NOx burners to maintain their market position. Low NOx burners are a type of combustion technology engineered to reduce the formation of nitrogen oxides (NOx) during the combustion process. For example, in October 2023, Metso, a Finland-based company specializing in mining, metals refining, and recycling solutions, launched a hydrogen variant of its low NOx burners, the Ferroflame LowNox burner for iron ore pellet production. This new burner has laboratory-validated functionality and performance, demonstrating that hydrogen can be utilized in pelletizing plants and can assist customers in achieving CO2 and NOx reduction targets. These burners serve as a step toward decarbonizing the pelletizing industry. This new product can contribute to lowering emissions in steel manufacturing.
In September 2024, Vale, a mining company based in Brazil, produced iron ore pellets and formed a partnership with Midrex. This collaboration aims to create environmentally friendly solutions that lower CO2 emissions in steel production. Vale's innovative briquetting process reduces production costs and CO2 emissions by approximately 80% compared to conventional pelletizing techniques. Midrex is a US-based provider specializing in direct reduction ironmaking technology.
Major companies operating in the iron ore pellets market report are Vale SA, Rio Tinto PLC, BHP Group Limited, Fortescue Metals Group Limited, Anglo American PLC, Cleveland-Cliffs Inc., Ferrexpo PLC, Luossavaara-Kiirunavaara AB, Metalloinvest Management Company LLC, Samarco Mineracao SA, Bahrain Steel BSC, Kudremukh Iron Ore Company Limited, ArcelorMittal SA, Tata Steel Limited, JSW Steel Limited, Nippon Steel Corporation, Pohang Iron and Steel Company, China Baowu Steel Group Corporation Limited, United States Steel Corporation, Gerdau SA, Thyssenkrupp AG, Kobe Steel Ltd
Asia-Pacific was the largest region in the iron ore pellets market in 2025. The regions covered in the iron ore pellets market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the iron ore pellets market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The iron ore pellets market consists of sales of iron ore pellets such as magnetite, and hematite. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Iron Ore Pellets Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses iron ore pellets market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for iron ore pellets ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The iron ore pellets market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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