21.10.2021 16:00

Iron Ore Pellets Demand to Surpass 399 Mn Tons in 2021 as Application in Steel Production Surges

Folgen
Werbung

NEW YORK, Oct. 21, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest Fact.MR analysis, the global iron ore pellets market size was valued at US$ 46 Bn in 2020 and is expected to reach around US$ 68 Bn by 2031.

FactMR Logo

Demand for iron ore pellets is expected to soar owing to the rising adoption in steel manufacturing plants. Sales are projected to increase at a CAGR of 4.3% between 2021 and 2031, with market volume surpassing 399 Mn tons in 2021.

As iron forms the main component of steel, increasing steel production is expected to create huge demand for iron ore pellets. According to the Worldsteel Association, world crude steel production for the 64 countries reached 156.8 million tons in August 2021. This is anticipated to create ample of growth opportunities for iron ore pellets market.

Iron ore pellet is a type of agglomerated iron ore fines which has better tumbler index as compared to that of parent ore. It can also be used as substitute of lump ore for the production of direct reduced iron (DRI) and in blast furnaces for the production of hot metal.

Iron ore pellets are a better feed for iron and steel making as compared to other feeds. They are mostly preferred due to various benefits such as uniform size, high metallization rate, increased productivity, lower energy cost, higher yield, increased permeability in blast furnaces to optimize fuel consumption rate, and lower maintenance cost.

Request a report sample to gain compressive insights at

https://www.factmr.com/connectus/sample?flag=S&rep_id=6991

Implementation of stringent emission regulations and increasing efforts to achieve de-carbonization targets will continue to fuel the consumption of iron ore pellets. Pellet usage significantly reduces carbon and poisonous gas emissions such as SOx, NOx and CO2 particulate matters.

It also saves the environment as well as cut down the expenditure on waste gas treatment, scrubbers etc. Hence, demand for iron ore pellets is expected to manifold over the coming years, estimates Fact.MR.

As per the study, construction and automotive industries are the two major end-use industries of steel. Rising demand from these industries indirectly plays a crucial role in expanding the iron ore pellets market.

Fact.MR projects North America market was estimated to be worth around US$ 14.5 Bn in 2020. Rapid expansion of steel production industry, presence of leading market players and increasing vehicle production are some of the factors driving the growth across the North America iron ore pellets market.

"As the focus is shifting towards decarbonizing the atmosphere, sales of iron ore pellets are expected to witness huge upsurge. Steel manufacturers are showing keen interest in utilizing iron ore pellets for steel production since it helps to significantly reduce carbon emissions," says the Fact.MR analyst.

Key Takeaways from Iron Ore Pellets Market Survey

  • With massive steel production, China will continue to dominate the iron ore pellets market across East Asia during the forecast period.
  • India is emerging as a lucrative market for iron ore pellets, registering 200 BPS to its net value by 2021 end.
  • Japan market is experiencing strong growth amid increasing steel output, gaining 110 BPS in net valuation by 2021 end.
  • Based on source, blast furnace grade is anticipated to dominate the market during the forecast period, expanding at a healthy CAGR of 5.6%
  • Magnetite remains the most preferred source for manufacturing iron ore pellets due to its high iron content, creating incremental $ opportunity of US$ 1.2 Bn by 2021 end

Key Drivers

  • Depletion of high-grade ore reserves is positively impacting the growth of iron pellets market.
  • Various advantages associated with iron ore pellets such as higher iron content and ecofriendly nature fosters their demand across various industries.
  • Increasing vehicle production and rise in construction activities will continue to fuel the demand for iron ore pellets during the forecast period.

Key Restraints

  • Poor level of integration between iron ore pellet suppliers and steelmaking companies poses a significant demand and supply gap, denting pellet sales.
  • Fluctuations in the raw material prices will act as a restraining factor for the iron ore pellets market.
  • Rising emission levels in steel plants causing adverse environmental effects will also hinder the growth in the market.

To learn more about Iron Ore Pellets Market, you can get in touch with our Analyst at

https://www.factmr.com/connectus/sample?flag=AE&rep_id=6991

Competitive Landscape

Companies operating in the iron ore pellets market are focusing on increasing their production capacity. Some of the companies are collaborating with local and regional players to retain their dominance in the industry.

  • In February 2021, Rio Tinto teamed up with Paul Wurth and SHS-Stahl-Holding-Saar to explore the production of a low-carbon steel feedstock. The partnership will explore the viability of transforming iron ore pellets into low-carbon hot briquetted iron (HBI), a low carbon steel feedstock, using green hydrogen generated from hydroelectricity in Canada.
  • In May 2021, Bahrain Steel and IAD signed a land-lease agreement for leasing 368,873 m2 of industrial area land adjacent to the Company's existing stockyard in Hidd. To meet the growing needs of the business, and to ensure uninterrupted availability of pellets to its customers, Bahrain Steel will more than double its iron ore and pellet storage capacity from 1.8 million tons to 4 million tons
  • In October 2021, Cleveland-Cliffs Inc. Entered into a definitive agreement to acquire Ferrous Processing and Trading Company, including certain related entities (FPT), for a total enterprise value of around US$ 775 million. Through this acquisition the company aims to expand its portfolio of high quality ferrous raw materials by including iron ore pellets, direct reduced iron and prime scrap.
  • In April 2019, Bahrain Steel signed 20-year agreement with Anglo American for the supply of iron ore pellet feed for its pelletizing plants located in Hidd in the Kingdom of Bahrain.

Some of the prominent players operating in the iron ore pellets market profiled by Fact.MR are:

  • Vale
  • Cleveland-Cliffs Inc.
  • Rio Tinto
  • Fortescue Metals
  • United States Steel Corporation
  • Bahrain Steel
  • ArcelorMittal
  • NMDC Limited
  • LKAB
  • Mitsubishi Corporation
  • BHP Billiton
  • ArcelorMittal S.A.
  • Ferrexpo p2lc
  • Jindal SAW Limited
  • Xindia Steels Ltd.
  • Metso Outotec

More Insights on the Global Iron Ore Pellets Sales Outlook

Fact.MR, in its new offering, presents an unbiased analysis of the iron ore pellets market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for iron ore pellets with a detailed segmentation on the basis of:

Grade

  • Direct Reduction (DR)
  • Blast Furnaces (BF)

Source

  • Magnetite
  • Hematite
  • Others

Application

  • Iron-based Chemicals
  • Steel Production

End Use

  • Iron Ore Pellets for Electric Induction Furnaces
  • Iron Ore Pellets for Oxygen-based/Blast Furnaces
  • Iron Ore Pellets for Electric Arc Furnaces

Key Questions Covered in the Iron Ore Pellets Sales Outlook Report

  • The report offers insight into iron ore pellets demand outlook for 2021-2031
  • The market study also highlights projected sales growth for iron ore pellets market between 2021 and 2031
  • Iron ore pellets market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
  • Iron ore pellets market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Iron Powder Market- Vehicle production has increased significantly over the world, which is likely to fuel demand for iron powder over the projection period. Iron powder is used in the automobile sector for powder metallurgy applications, which include automotive parts, gears, bearings, and sintered components, among others. In recent years, the additive manufacturing and Metal Injection Molding (MIM) processes have gained popularity in a number of end-use industries, resulting in increased demand for iron powder around the world.

Amorphous Iron (Fe Amorphous) Market- End-users are looking to lessen their reliance on rare-earth magnets due to their uncertain supply and skyrocketing pricing, therefore demand for amorphous iron has risen dramatically in recent years. Rare-earth magnetics are being phased out in favor of amorphous iron or Fe amorphous in a variety of industrial applications due to its exceptional magnetic characteristics. Amorphous iron (Fe amorphous) has a wide range of uses as a magnetic material due to its conductive and magnetic properties, which is driving the market for amorphous iron (Fe amorphous).

Iron Oxide Pigments Market- The ongoing necessity for coloring agents in numerous end-use industries has aided demand growth in the iron oxide pigments market. Because it is also less expensive than certain other coloring compounds, its use and demand have benefited greatly. However, the use of iron oxide pigments in end-use products to a greater level is seen as a threat to human safety. In addition, inhaling iron oxides may cause non-specific lung irritation. As a result, iron oxide pigment manufacturers must bear and manage any risks associated with iron oxide pigments.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to chemical and materials, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.

MarketNgage is powered by Fact.MR – our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.

You can access all our chemical and materials research reports by signing up with MarketNgage's Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR – A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.

Contact:

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com

Cision View original content:https://www.prnewswire.com/news-releases/iron-ore-pellets-demand-to-surpass-399-mn-tons-in-2021-as-application-in-steel-production-surges-301405815.html

SOURCE Fact.MR

Werbung
Werbung
Werbung
Werbung
Börse Stuttgart Anlegerclub
Werbung

Heute im Fokus

Wall Street weit im Plus -- DAX schließt über 15.800 Punkten -- Börsengang von Sportwagenbauer Porsche schreitet wohl voran -- Evergrande, Intel, BMW, VW, Heidelberger Druck, Deutsche Post im Fokus

EU schaut bei Nuance-Kauf durch Microsoft offenbar genauer hin. Darmstädter Merck und Palantir kooperieren bei Datenanalyse. Airbus bekommt Esa-Zuschlag für Exoplaneten-Mission. Chemiewerte leben nach positiven Studien wieder auf. Amazon wechselt nach 20 Jahren Chef für deutschsprachige Länder. Rohingya verklagen Facebook wegen Hetze auf Social-Media-Plattform.

Umfrage

Wie hat sich Ihr Wertpapierdepot seit Jahresbeginn entwickelt?

finanzen.net zero
finanzen.net zero

Oskar

ETF-Sparplan

Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln