Iron Ore Pellets Market Size, Share & Trends Analysis Report By Product

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The Business Research Company's Iron Ore Pellets Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

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LONDON, GREATER LONDON, UNITED KINGDOM, September 24, 2025 /EINPresswire.com/ -- What Is The Iron Ore Pellets Market Size And Growth?
The consistent growth in the iron ore pellets market size has been noted in recent years, escalating from $60.29 billion in 2024 to an estimated $62.01 billion in 2025, with a compound annual growth rate (CAGR) standing at 2.9%. The substantial growth seen in the past can be linked to a variety of reasons such as the ongoing boom in steel production, rapid urbanization and infrastructure expansion, global surge in the automotive industry, and environmental regulations that support palletization. Additionally, factors like substantial investments in mining infrastructure and resource abundance in crucial regions have also contributed to its growth.

The market size for iron ore pellets is predicted to experience significant growth in the ensuing years, escalating to a worth of $77.31 billion by 2029. This comes with a compound annual growth rate (CAGR) of 5.7%. Factors stimulating growth in the projection period include an increased demand for superior quality steel, tighter environmental protocols, the rapidly developing wind energy industry, global trade movements, and plant upgrading investments. In the projected period, prominent trends incorporate advancements in pelletizing technology, trade regulations and export constraints, the integration of digital technology, and the quality and standards of iron ore pellets.

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What Are The Current Leading Growth Drivers For Iron Ore Pellets Market?
The iron ore pellets market is anticipated to expand owing to the escalating demand for steel in the construction industry. The construction sector is a significant consumer of steel, taking up over half of the global steel demand. Iron ore pellets are crucial in the creation of steel products, which are immensely utilized in construction activities. As an example, the World Steel Association, a non-profit organization based in Belgium, projected in June 2022 that there would be a 0.4% increase in global steel demand, approximately reaching 1,840.2 million tonnes (Mt). Subsequent to this prediction, the demand for steel in 2023 was projected to further increase by 2.2%, totaling around 1,881.4 Mt. Therefore, the surging demand for steel in the construction realm is anticipated to stimulate the expansion of the iron ore pellets market.

Which Companies Are Currently Leading In The Iron Ore Pellets Market?
Major players in the Iron Ore Pellets include:
• Bahrain Steel BSC
• ArcelorMittal SA
• Cleveland-Cliffs Inc.
• Ferrexpo PLC
• Jindal SAW Limited
• Luossavaara-Kiirunavaara AB
• SIMEC Group Limited
• Vale SA
• Xindia Steels Limited
• BHP Group Limited

What Are The Main Trends, Positively Impacting The Growth Of Iron Ore Pellets Market?
A key emerging trend in the iron ore pellets market is the expansion of businesses and establishment of strategic partnerships. Major players in this market are forming alliances to fortify their market presence. For example, in 2022, Rio Tinto, a metals and mining corporation originating from Australia, partnered with Salzgitter for an undisclosed sum. This partnership enables the duo to explore the effective use of Rio Tinto's superior iron ore products for one of Salzgitter’s initiatives, known as SALCOS, a green steel project based in Germany. Salzgitter is a German company that excels in the production, processing, and worldwide trade of rolled steel and tube products.

How Is The Iron Ore Pellets Market Segmented?
The iron ore pellets market covered in this report is segmented –

1) By Product: Blast Furnace Iron Ore Pellet, Direct Reduced

2) By Technology: Oxygen Based Or Blast Furnace, Electric Arc Furnace, Electric Induction Furnace

3) By Application: Iron-based Chemicals, Steel Production

Subsegments:

1) By Blast Furnace Iron Ore Pellet: Standard Blast Furnace Pellets, High-Grade Blast Furnace Pellets

2) By Direct Reduced: DRI Pellets For Electric Arc Furnaces, DRI Pellets For Direct Reduction Processes

View the full iron ore pellets market report:
https://www.thebusinessresearchcompany.com/report/iron-ore-pellets-global-market-report

Which Is The Dominating Region For The Iron Ore Pellets Market?
In 2024, Asia-Pacific held the top position in the iron ore pellets market. The report on the iron ore pellets market includes regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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