Iron Ore Pellets Market Size Poised To Reach USD 63.52 Billion By 2027
San Francisco, 17 April 2024: The Report Iron Ore Pellets Market Size, Share & Trends Analysis Report By Product (Blast Furnace, Direct Reduced), By Trade (Captive, Seaborne), By Region, And Segment Forecasts, 2020 - 2027 The global iron ore pellets market size is expected to reach USD 63.52 billion by 2027, expanding at a CAGR of 3.7% from 2020 to 2027, according to a new report by Grand View Research, Inc. The product demand is predicted to be largely driven by rising steel production in Asia Pacific. Iron ore pellets are an important source for steel manufacturing. Rapid industrialization and urbanization in emerging economies of Asia Pacific since the past few years have stimulated the production of steel. This has caused a surge in demand for iron ore pellets in the region. The product is mainly used in captive form by large integrated steel producers. However, there is ample potential for seaborne trade of the product as cross country trade is expected to rise over the c