South Korea Iron Ore Pellet Market to 2032

Overview

The South Korea Iron Ore Pellet Market is expected to reach a 3,088.63 USD Billion by 2032 and is projected to grow at a CAGR of 6.80% from 2025 to 2032.

Revenue, 2024 (USD Billion)

2,198.82

Forecast, 2032 (USD Billion)

3,088.63

CAGR, 2024 - 2032

6.80%

Report Coverage

South Korea

South Korea Iron Ore Pellet Market 2018-2032 USD Billion

South Korea Iron Ore Pellet Market, Key Findings (2025-2032)

Market Growth and Projections:

Market Size (2024): 2,198.82 USD Billion
Projected Market Size (2032): 3,088.63 USD Billion
CAGR (2025-2032): 6.80%

Key Findings of South Korea Iron Ore Pellet Market

The South Korea Iron Ore Pellet Market was valued at 2,198.82 USD Billion in 2024.
The South Korea Iron Ore Pellet Market is likely to grow at a CAGR of 6.80% during the forecast period of 2024 to 2032.
In 2024, the Largest segment Grate Kiln in Pelletizing Process Segment accounted for the largest share of the market with a revenue of 1,354.14 USD Billion
The fastest growing segment Oxygen Based/Blast Furnace in Technology Segment grew Fastest with a CAGR of 8.40% during the forecast period from 2024 to 2032.

South Korea Iron Ore Pellet Market Scope

South Korea Iron Ore Pellet Market Segmentation & Scope

Balling Technology

Balling Drum
Balling Disc

Pelletizing Process

Straight Travelling Grate
Grate Kiln

Technology

Electric Induction Furnace
Electric Arc Furnace
Oxygen Based/Blast Furnace

Grade

Direct Reduction
Blast Furnace

Source

Others
Taconite
Magnetite
Hematite

Industry

Others
Industrial
Aerospace
Shipping
Consumer Goods
Railway
Automotive
Construction

South Korea Iron Ore Pellet Market Data Coverage Insights

Study Period	2024-2032
Base Year	2020
Unit	Revenue in USD Billion
Market Value in 2024	2,198.82 USD Billion
Market Value in 2032	3,088.63 USD Billion
CAGR (2025-2032)	6.80%
Historic Data	2016-2023
Market Segments Covered	Balling Technology,Pelletizing Process,Technology,Grade,Source,Industry

Regional Insights:

Leading Market (2024-2032): South Korea, leading in terms of revenue 2,198.82 USD Billion in 2024
- Key Country: South Korea, leading in terms of revenue with value of 2,198.82 USD Billion in 2024.

Segments and Scope

South Korea Iron Ore Pellet Market to 2032, By Balling Technology
- Balling Disc is the largest segment in South Korea Iron Ore Pellet Market to 2032 with a revenue of 1,113.42 USD Billion in the year 2024.
- Balling Disc is the Fastest growing segment in South Korea Iron Ore Pellet Market to 2032 with a Growth rate of 7.13 % in forecast period 2025-2032.
South Korea Iron Ore Pellet Market to 2032, By Pelletizing Process
- Grate Kiln is the largest segment in South Korea Iron Ore Pellet Market to 2032 with a revenue of 1,354.14 USD Billion in the year 2024.
- Grate Kiln is the Fastest growing segment in South Korea Iron Ore Pellet Market to 2032 with a Growth rate of 7.75 % in forecast period 2025-2032.
South Korea Iron Ore Pellet Market to 2032, By Technology
- Oxygen Based/Blast Furnace is the largest segment in South Korea Iron Ore Pellet Market to 2032 with a revenue of 881.86 USD Billion in the year 2024.
- Oxygen Based/Blast Furnace is the Fastest growing segment in South Korea Iron Ore Pellet Market to 2032 with a Growth rate of 8.40 % in forecast period 2025-2032.
South Korea Iron Ore Pellet Market to 2032, By Grade
- Blast Furnace is the largest segment in South Korea Iron Ore Pellet Market to 2032 with a revenue of 1,167.08 USD Billion in the year 2024.
- Blast Furnace is the Fastest growing segment in South Korea Iron Ore Pellet Market to 2032 with a Growth rate of 7.25 % in forecast period 2025-2032.
South Korea Iron Ore Pellet Market to 2032, By Source
- Hematite is the largest segment in South Korea Iron Ore Pellet Market to 2032 with a revenue of 904.77 USD Billion in the year 2024.
- Hematite is the Fastest growing segment in South Korea Iron Ore Pellet Market to 2032 with a Growth rate of 8.36 % in forecast period 2025-2032.
South Korea Iron Ore Pellet Market to 2032, By Industry
- Construction is the largest segment in South Korea Iron Ore Pellet Market to 2032 with a revenue of 734.10 USD Billion in the year 2024.
- Construction is the Fastest growing segment in South Korea Iron Ore Pellet Market to 2032 with a Growth rate of 8.20 % in forecast period 2025-2032.

South Korea Iron Ore Pellet Market Company Share Analysis

Company Name
Bahrain Steel
Mitsubishi Corporation RtM Japan Ltd.
ARCELORMITTAL
United States Steel Corporation
Valero

South Korea Iron Ore Pellet Market Geographical Sales Distribution, 2018-2032 USD Billion

South Korea Iron Ore Pellet Market Company Profiling

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Frequently Asked Questions

What are the primary segments covered in the South Korea Iron Ore Pellet Market?

The South Korea Iron Ore Pellet Market is segmented based on Segmentation Balling Technology,Pelletizing Process,Technology,Grade,Source,Industry.

What is the current market size of the South Korea Iron Ore Pellet Market?

South Korea Iron Ore Pellet Market was valued at USD 2,198.82(Revenue in USD Billion) in 2020.

What is the expected growth rate of the South Korea Iron Ore Pellet Market?

South Korea Iron Ore Pellet Market is projected to grow at a CAGR of 6.80% during the forecast period of 2024 to 2032.

Which is the dominating segment in the South Korea Iron Ore Pellet Market?

The Grate Kiln segment is expected to dominate the South Korea Iron Ore Pellet Market, holding a largest market share of 1,354.14 USD Billion in 2024