Iron Ore Pellets Market Scope
Pelletizing Process Involves Grounding & Mixing Very Finely Particles Of Iron Ore Fines Of Size Less Than 200 Mesh With Additives Like Bentonite And Then Shaping Them Into Oval/Spherical Lumps With The Help Of A Pelletizer And Hardening The Balls By Firing With A Fuel. Iron Ore Pellets Are Important Source Of Iron Used Mainly For The Manufacturing Steel. Iron Ore Pellets Provides Better And Uniform Permeability, Owing To Their Spherical Shape And Open Pores, Resulting In Smoother Furnace Operation. Iron Pellets Provide Higher Strength, Higher Porosity, & Uniform Chemical Composition
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Vale S.A (Brazil), Luossavaara-Kiirunavaara Aktiebolag (LKAB) (Sweden), Metso Oyj (Finland), Arya Group Of Companies (India), Rio Tinto (United Kingdom), Bhp (Australia), Fortescue Metals Group Ltd (Australia), Atlas Iron (Australia), Simec Group (United Kingdom) and Cleveland-Cliffs, Inc. (United States) |
CAGR | % |
The Market For Iron Ore Pellets Is Fragmented With The Presence Of Many Players. Leading Players Can Adopt Strategies Like A Merger, Acquisition, Expansion, New Product Launch, In Order To Gain Share Within The Market. Owing To Booming Industrialization, There Are Growing Prospects for the New Players to Enter the Market Research Analyst at AMA estimates that United Kingdom Manufacturers will contribute to the maximum growth of Europe Iron Ore Pellets market throughout the predicted period.
Vale S.A (Brazil), Luossavaara-Kiirunavaara Aktiebolag (LKAB) (Sweden), Metso Oyj (Finland), Arya Group Of Companies (India), Rio Tinto (United Kingdom), Bhp (Australia), Fortescue Metals Group Ltd (Australia), Atlas Iron (Australia), Simec Group (United Kingdom) and Cleveland-Cliffs, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Anglo American Plc (United Kingdom), Evraz Plc (United Kingdom), Ferrexpo Plc (Switzerland) and Fortescue Metals Group Ltd (Australia).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe Iron Ore Pellets market by Type , by Application (Steel Production, Iron-Based Chemicals and Others) and Region with country level break-up.
On the basis of geography, the market of Iron Ore Pellets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In April 2019, Fortescue Metals Group Ltd (Fortescue) Subsidiary FMG Magnetite Pty Ltd & Joint Venture Partner Formosa Steel IB Pty Ltd (Formosa) Approved the Development of Stage 2 of the Iron Bridge Magnetite Project, 145km South Of Port Hedland, Australia
Influencing Trend:
Surge In The Usage Of Iron Ore Pellets In Various End Use Industries Owing To Industrialization Especially In The Growing Economies Like China, India, & Brazil
Market Growth Drivers:
Growth in the Steel Industry for Manufacturing Products Like Bridges, Cars, Planes, Bicycles, & Household Appliances and Increase in the Number of Various Chemical Industries Using Iron Ore Pellets Producing Different Products like Ferric Sulfate, Ferric Chloride, & Water Treatment Processes
Challenges:
The Presence of the Substitute Materials May Pose a Challenge
Restraints:
The Fluctuations in the Prices of the Raw Materials for Producing Iron Ore Pellets
Opportunities:
There Is an Increased Opportunity for the Mining Companies for the Extraction of Raw Materials Required In the Production of Iron Ore Pellets and There Are Prospects for Utilising Iron Ore Pellets in Automotive Industry
Key Target Audience
Manufacturers of Iron Ore Pellets, End-Use Industries, Distributors, Traders, & Suppliers, Importers & Exporters, Investors, Regulatory & Government Bodies and Others