Asia Pacific Iron Ore Pellets Market Size & Outlook
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Asia Pacific iron ore pellets market highlights
- The Asia Pacific iron ore pellets market generated a revenue of USD 29,054.0 million in 2023.
- The market is expected to grow at a CAGR of 7% from 2024 to 2030.
- In terms of segment, bf pellet was the largest revenue generating product in 2023.
- DR Pellet is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 29,054.0 million |
| Market revenue in 2030 | USD 46,775.9 million |
| Growth rate | 7% (CAGR from 2023 to 2030) |
| Largest segment | Bf pellet |
| Fastest growing segment | DR Pellet |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BF Pellet, DR Pellet |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Cleveland-Cliffs Inc, Ferrexpo PLC, Rio Tinto PLC ADR, Vale SA ADR, Tata Steel Ltd GDR - 144A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 51.7% of the global iron ore pellets market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 46,775.9 million by 2030.
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Iron Ore Pellets Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ferrexpo PLC | View profile | 8000 | 55 St. James’s Street, London, United Kingdom, SW1A 1LA | https://www.ferrexpo.com |
| Rio Tinto PLC ADR | View profile | 57174 | 6 St James’s Square, London, United Kingdom, SW1Y 4AD | https://www.riotinto.com |
| Vale SA ADR | View profile | 66807 | Praia de Botafogo, 186, Salas 501 a 1901, Botafogo, Rio de Janeiro, RJ, Brazil, 22250-145 | https://www.vale.com |
| Cleveland-Cliffs Inc | View profile | 28000 | 200 Public Square, Suite 3300, Cleveland, OH, United States, 44114-2315 | https://www.clevelandcliffs.com |
| ArcelorMittal SA Depository Receipt | View profile | 126756 | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 | http://www.arcelormittal.com |
| Tata Steel Ltd GDR - 144A | View profile | 73496 | 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 | https://www.tatasteel.com |
Asia Pacific iron ore pellets market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to iron ore pellets market will help companies and investors design strategic landscapes.
Bf pellet was the largest segment with a revenue share of 60.21% in 2023. Horizon Databook has segmented the Asia Pacific iron ore pellets market based on bf pellet, dr pellet covering the revenue growth of each sub-segment from 2018 to 2030.
Upgradations have been witnessed in the downstream sector of the steel sector, which in turn are propelling the production of crude steel and, thus, demand for iron ore pellets. For instance, in November 2023, JFE Bars and Shapes Corporation announced to modernize its electric arc furnace in Japan by installing a new Q-One power supply system.
In October 2023, Xiangtan Iron and Steel completed a series of upgrades to its heavy plate rolling mill. Growth in steel production is anticipated to boost the growth of iron ore pellets market in Asia Pacific over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific iron ore pellets market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific iron ore pellets market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific iron ore pellets market outlook size, by country, 2018-2030 (US$M)
Asia Pacific Iron Ore Pellets Market Outlook Share, 2023 & 2030 (US$M)
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