Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Iron Ore DR Pellets Market (2023 Edition): Analysis By Value and Volume, Production Process (Coal-Based, Gas-Based), By Application (Steel, Iron), Product Source, By Region, By Country: Market Insights and Forecast (2019-2029)" report has been added to ResearchAndMarkets.com's offering.
In an environment increasingly driven by climate concerns, the direct reduction (DR) process, utilizing iron ore DR pellets, is being recognized for its eco-friendliness—presenting a paradigm shift in steel manufacturing. The report uncovers insights into the technological advancements and material usage patterns that underpin this evolving sector.
Analyzing historic trends from 2019-2022 and projecting a robust CAGR through to 2029, the report identifies key factors propelling a significant upward trajectory in market value. Detailed market forecasts demarcate the potential for sustained growth within the Iron Ore DR Pellets domain, powered mainly by pressing global demands for steel and industrial-grade iron.
Key Market Insights:
- Extensive data-driven overview of market size and growth potential
- Comprehensive evaluation of market drivers, restraints, and investment opportunities
- Analytical coverage of regional market trends, with country-wise breakdowns
- Strategic insights into market player initiatives, competitive landscape, and potential industry trends
The direct reduction method and the various advancements within it are reshaping the industry, yielding a more sustainable and economically viable steel production process. The report charts the expected impact on demand for DR Pellets, with an increase in global steel demand further stimulating growth.
Among the key findings, the market evaluation suggests an appreciable shift towards Gas-Based DR Pellets, while regional analysis identifies notable market expansions and strategic moves by principal industry stakeholders. In the broader context, the insights reflect the pertinence of DR Pellets in meeting the growing infrastructure, construction, and industrial requisites worldwide.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $9.91 Billion |
| Forecasted Market Value (USD) by 2029 | $21.11 Billion |
| Compound Annual Growth Rate | 16.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3tqwdm
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