According to the research report titled ‘Global Iron Ore Pellets Market 2022-2028’, available with MarketStudyReport, global iron ore pellets market is expected to reach USD 48,762 million by the year 2028, recording a 3.8% CAGR during the analysis timeframe.

Increasing per capita income, technological breakthroughs, and rising product adoption in steel production applications are some of the primary factors driving the growth of global iron ore pellets market.

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For those unaware, iron ore pellets are spheres that range in size from 6 to 16 mm and are used as the raw material in blast furnaces. These pellets are used to make steel, which is used to build bridges, automobiles, planes, bicycles, household goods, and much more.

Notably, the research study on the ‘global iron ore pellets market’ provides an in-depth analysis of the present business vertical such as the key trends, obstacles & restraints, and factors driving the overall market growth. The report also offers exclusive insight into the market size, share, volume, competitive landscape, revenue scale, and estimated growth rate during the anticipated timeframe. The effect of the COVID-19 crisis on the overall marketplace has also been examined in this report.

This industry report offers predictions of the various market segmentation such as grade type, trade landscape, and regional contribution. Based on the grade landscape, the market is fragmented into direct reduction and blast furnace segments.

Moving on to the trade type, the industry is segmented into of seaborne and captive.

On the basis of regional contribution, the market is divided into Asia Pacific, North America, Europe, and the rest of the world.

Vale S.A., Tosyali Algeria, The Ferrexpo Group, Samarco Mineração S.A., Rio Tinto Ltd., Rexon Strips Limited, NMDC Limited, Metalloinvest Management Company LLC, Luossavaara-Kiirunavaara Aktiebolag (LKAB), JSC Karelsky Okatysh, Jindal SAW Ltd., EVRAZ KGOK, Erdemir Maden, Cleveland-Cliffs Inc., Bahrain Steel BSC, Arya Iron & Steel Company Private Limited, and ArcelorMittal S.A. are the leading companies defining global iron ore pellets industry trends.