Press release
Increasing use of electric arc furnaces in steel production to bolster Iron Ore Pellets Market outlook
An increase in production of steel has influenced global iron ore pellets market size to meet the burgeoning demands from automobile, construction and electronics sectors. Increasing carbon emission levels is driving the adoption of sustainable products will supplement iron ore pellets demand, to ensure carbon less steel manufacturing.
Rise in demand for superior quality steel and ongoing concerns over carbon footprint is complementing the product penetration. Moreover, restructuring activities in the steel-sector will render ample opportunities to the market players over the coming years. As per the World Steel Association, in 2018 the global finished steel market demand was projected at nearly USD 1.68 billion metric tons and is expected to grow at a considerable rate.
Request for sample copy of this report @ https://www.gminsights.com/request-sample/detail/4084
High disposable income among people in developed and emerging countries is driving the production of vehicles worldwide. Additionally, urbanization has also fueled the construction of residential and non- residential spaces. Global iron ore pellets market share is projected to surpass USD 95 billion in value by 2026. In terms of grade, the market is bifurcated into direct reduction and blast furnace. Prominent industry players outlining the competitive dynamics of iron ore pellets market include BHP Billliton, Rio Tinto, Fortescue metals and Vale among various others.
Direct reduction (DR) grade is leading the market dynamics owing to widespread adoption primarily in the developing nations for electric arc furnace (EAF) steelmaking. New market players are most likely to invest in EAF facilities since the initial cost of setting up is relatively lower as compared to oxygen-based steelmaking process. Reports estimate that by 2026, DR grade iron ore pellets industry size will register a value of over USD 20 billion.
Manufacturers in prominent steel supplying countries such as Iran, India and Turkey are largely investing in the development of electric arc furnaces. Electric arc furnace segment is likely to showcase growth rate of nearly 6% in the near future owing to the surging importance and availability of DR grade pellets across developing nations.
Request for customization @ https://www.gminsights.com/roc/4084
With respect to iron content, the iron ore pellets market is classified into hematite, magnetite and several others. Other divisions consist of materials like goethite, limonite, siderite and together will be responsible for close to 15% share of the total market over 2019-2016. Traveling grate (G) pelletizing segment will exceed a total valuation of more than USD 65 billion towards the end of 2026. The process comprises multiple stages namely, sintering, oxidation, drying and cooling. Stationary bed of pellets is put through each and every stage before acquiring the final product.
Regionally, Middle East and Africa could evolve as profitable revenue terrains due to the increasing consumption of direct reduction grade pellets across the regions. Countries such as Saudi Arabia, Turkey and Iran are aiming at expanding their production capacities for the electric arc furnace steel manufacturing over the years, thereby generating enhanced growth opportunities for industry players in the region.
Contact Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Rise in demand for superior quality steel and ongoing concerns over carbon footprint is complementing the product penetration. Moreover, restructuring activities in the steel-sector will render ample opportunities to the market players over the coming years. As per the World Steel Association, in 2018 the global finished steel market demand was projected at nearly USD 1.68 billion metric tons and is expected to grow at a considerable rate.
Request for sample copy of this report @ https://www.gminsights.com/request-sample/detail/4084
High disposable income among people in developed and emerging countries is driving the production of vehicles worldwide. Additionally, urbanization has also fueled the construction of residential and non- residential spaces. Global iron ore pellets market share is projected to surpass USD 95 billion in value by 2026. In terms of grade, the market is bifurcated into direct reduction and blast furnace. Prominent industry players outlining the competitive dynamics of iron ore pellets market include BHP Billliton, Rio Tinto, Fortescue metals and Vale among various others.
Direct reduction (DR) grade is leading the market dynamics owing to widespread adoption primarily in the developing nations for electric arc furnace (EAF) steelmaking. New market players are most likely to invest in EAF facilities since the initial cost of setting up is relatively lower as compared to oxygen-based steelmaking process. Reports estimate that by 2026, DR grade iron ore pellets industry size will register a value of over USD 20 billion.
Manufacturers in prominent steel supplying countries such as Iran, India and Turkey are largely investing in the development of electric arc furnaces. Electric arc furnace segment is likely to showcase growth rate of nearly 6% in the near future owing to the surging importance and availability of DR grade pellets across developing nations.
Request for customization @ https://www.gminsights.com/roc/4084
With respect to iron content, the iron ore pellets market is classified into hematite, magnetite and several others. Other divisions consist of materials like goethite, limonite, siderite and together will be responsible for close to 15% share of the total market over 2019-2016. Traveling grate (G) pelletizing segment will exceed a total valuation of more than USD 65 billion towards the end of 2026. The process comprises multiple stages namely, sintering, oxidation, drying and cooling. Stationary bed of pellets is put through each and every stage before acquiring the final product.
Regionally, Middle East and Africa could evolve as profitable revenue terrains due to the increasing consumption of direct reduction grade pellets across the regions. Countries such as Saudi Arabia, Turkey and Iran are aiming at expanding their production capacities for the electric arc furnace steel manufacturing over the years, thereby generating enhanced growth opportunities for industry players in the region.
Contact Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
