Asia-Pacific Iron Ore Pellets Market, By Source (Hematite, Magnetite, Taconite and Others), Grade (Blast Furnace and Direct Reduction), Technology (Oxygen Based/Blast Furnace, Electric Arc Furnace and Electric Induction Furnace), Pelletizing Process (Grate Kiln and Straight Travelling Grate), Balling Technology (Balling Disc and Balling Drum), Industry (Construction, Automotive, Railway, Consumer Goods, Shipping, Industrial, Aerospace and Others), Country (Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong-Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
The iron ore pellets market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 4.5% in the forecast period of 2021 to 2028 and expected to reach USD 23,533.88 million by 2028. The easy handling along with transportation can be the driver for the iron ore pellets in the market.
Iron ore pellets are the kind of balls which are small in size that are manufactured from iron ore. The iron ore pellets are present in various industries. The iron ore pellets are manufactured with various technologies such as oxygen based/blast furnace, electric induction furnace and from various other technologies. It helps in providing the tensile strength as well as durability to the end-users.
The growing demand of lower emissions and dust in comparison to other materials maximize the usage of the iron ore pellets in the developing countries which drives the iron ore pellets market. The fluctuations in the price of raw material can be the restraining factor for the iron ore pellets market. The demand for high grade iron ore pellets has increased recently and this increment has speeded up especially after various governments have taken move towards more sustainable steel production acting as an opportunity for the iron ore pellets market. The chances of accidents at the time of iron ore pellets processing can be the challenge for the iron ore pellets market.
The iron ore pellets market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the iron ore pellets market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The iron ore pellets market is segmented based on the source, grade, technology, pelletizing process, balling technology and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of source, the iron ore pellets market is segmented into hematite, magnetite, taconite and others. In 2021, the hematite segment is dominating the market as abundant minerals of iron on earth's surface which increases its demand globally.
- On the basis of grade, the iron ore pellets market is segmented into blast furnace and direct reduction. In 2021, blast furnace segment is dominating due to its cost-effective method of producing iron and steel which increases its demand in the market.
- On the basis of technology, the iron ore pellets market is segmented into oxygen based/blast furnace, electric arc furnace and electric induction furnace. In 2021, the oxygen based/blast furnace segment is dominating the market as they has less burning loss and higher yields which increases the demand for the Oxygen based/blast furnace.
- On the basis of pelletizing process, the iron ore pellets market is segmented into grate kiln and straight travelling grate. In 2021, the grate kiln segment is dominating the market as they have a lower fuel usage which makes barcode dominate in the market.
- On the basis of balling technology, the iron ore pellets market is segmented into balling disc and balling drum. In 2021, balling disc segment is dominating because of the improved handling qualities of balling disc to dominate in the market.
- On the basis of industry, the iron ore pellets market is segmented into construction, automotive, railway, consumer goods, shipping, industrial, aerospace and others. In 2021, construction segment is dominating because of less amount of cost as compared to other types in the market.
Iron Ore Pellets Market Country Level Analysis
Asia-Pacific iron ore pellets market is analysed and market size information is provided by the country, source, grade, technology, pelletizing process, balling technology and industry as referenced above.
The countries covered in Asia-Pacific Iron ore pellets market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand, Hong Kong, Taiwan and Rest of Asia-Pacific.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growths in the Iron Ore Pellets Industry
The iron ore pellets market also provides you with detailed market analysis for every country growth in installed base of different kind of products for iron ore pellets market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the iron ore pellets market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Iron Ore Pellets Market Share Analysis
Asia-Pacific iron ore pellets market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to iron ore pellets market.
The major players covered in the report is Vale, Iron Ore Company of Canada. (a subsidiary of Rio Tinto), United States Steel Corporation. , LKAB, ARCELORMITTAL, Bahrain Steel, Cleveland-Cliffs Inc, FERREXPO, JINDAL SAW LTD., KIOCL Limited, METALLOINVEST MC LLC, Metso Outotec, Mitsubishi Corporation RtM Japan Ltd (a subsidiary of Mitsubishi Corporation.) and SIMEC other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the iron ore pellets market.
- In October 2020, United States Steel Corporation has announced the start-up of the new as well as innovative electric arc furnace at the company’s Alabama facility. The announcement helps in increasing the production of the latest product of the company which enhances sales of the business.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company market in the iron ore pellets market which also provides the benefit for organization to improve their offering for iron ore pellets.