Global Iron Ore Pellet Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Grade;

Blast Furnace and Direct Reduction.

By Technology;

Electric Arc Furnace, Electric Induction Furnace and Oxygen Based/Blast Furnace.

By Iron Content;

Hematite and Magnetite.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn643266384 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Iron Ore Pellet Market (USD Million), 2021 - 2031

In the year 2024, the Global Iron Ore Pellet Market was valued at USD 67,920.57 million. The size of this market is expected to increase to USD 86,122.14 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 3.5%.

The Global Iron Ore Pellet Market revolves around a crucial component in the steelmaking process, providing a vital link between iron ore mining and steel production. Iron ore pellets are small, spherical balls of iron ore concentrate that serve as raw material for steel mills. Their formation involves agglomerating finely ground iron ore particles using a binder and then heating them to create pellets suitable for use in blast furnaces or direct reduction processes. These pellets offer several advantages over traditional iron ore feedstock, including improved handling, transportation efficiency, and metallurgical properties.

The Global Iron Ore Pellet Market is driven by the growing demand for steel worldwide, primarily fueled by infrastructure development, urbanization, and industrialization in emerging economies. As countries invest in infrastructure projects, construction activities, and manufacturing sectors, the demand for steel and, consequently, iron ore pellets, continues to rise. Moreover, the shift towards electric arc furnaces (EAFs) in steel production, which requires higher-quality iron ore feedstock, further boosts the demand for pellets due to their superior metallurgical characteristics. Additionally, iron ore pellets offer environmental benefits, including lower greenhouse gas emissions and reduced energy consumption compared to traditional iron ore sintering, making them increasingly attractive to steelmakers striving to meet sustainability goals.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Grade
    2. Market Snapshot, By Technology
    3. Market Snapshot, By Iron Content
    4. Market Snapshot, By Region
  4. Global Iron Ore Pellet Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing Demand for Steel
        2. Shift towards Electric Arc Furnaces(EAFs)
        3. Environmental Benefits
      2. Restraints
        1. Volatility in Steel Prices
        2. Supply Chain Disruptions
        3. Regulatory Challenges
      3. Opportunities
        1. Infrastructure Development
        2. Technological Advancements
        3. Sustainable Practices
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Iron Ore Pellet Market, By Grade, 2021 - 2031 (USD Million)
      1. Blast Furnace
      2. Direct Reduction
    2. Global Iron Ore Pellet Market, By Technology, 2021 - 2031 (USD Million)
      1. Electric Arc Furnace
      2. Electric Induction Furnace
      3. Oxygen Based/Blast Furnace
    3. Global Iron Ore Pellet Market, By Iron Content, 2021 - 2031 (USD Million)
      1. Hematite
      2. Magnetite
    4. Global Iron Ore Pellet Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Vale S.A.
      2. Rio Tinto
      3. BHP Group
      4. Fortescue Metals Group Ltd.
      5. LKAB
      6. Anglo American plc
      7. ArcelorMittal
      8. Metalloinvest
      9. Ferrexpo plc
  7. Analyst Views
  8. Future Outlook of the Market