Global Iron Ore Pellet Market Set to Surge at 7.9% CAGR through 2033, Driven by Steel Industry Growth and Sustainability | Future Market Insights, Inc. [Yahoo! Finance]
Arcelor Mittal NY Registry Shares NEW (MT)
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Source: Yahoo! Finance
However, market volatility, price fluctuations, and changing steel production technologies pose significant challenges to sustained growth. NEWARK, DE / ACCESSWIRE / September 11, 2024 / The global iron ore pellet market share (Cuota de mercado de pellets de mineral de hierro) is projected to grow significantly, with its value rising from US$ 66,503.9 million in 2023 to US$ 141,988.8 million by 2033. Over the forecast period, demand for iron ore pellets is expected to increase at a CAGR of Iron ore pellets are essential in the steelmaking process, enhancing production efficiency, and their demand is closely linked to the global steel industry. The rising demand from the iron and steel sectors is anticipated to continue through 2033, driven by rapid urbanization and the expanding construction sector worldwide. According to the World Steel Association, global crude steel production reached 1,950.5 million tons in 2021, marking a 3.7% increase from 2020. As steel production and con
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