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According to Fortune Business Insights, The global iron ore pellets market was valued at USD 60.82 billion in 2024 and is expected to grow from USD 61.64 billion in 2025 to USD 94.51 billion by 2032, registering a CAGR of 6.3% during the forecast period. Asia Pacific held the largest share of the market in 2024, accounting for 30.61% of the global revenue.
The global Iron Ore Pellets Market is witnessing steady growth, driven by increasing steel production, rising demand for high-grade raw materials, and the growing shift toward environmentally sustainable steelmaking processes. Iron ore pellets - small, spherical balls made from iron ore fines - play a vital role in blast furnaces and direct reduction processes, offering superior performance and reduced emissions compared to sinter and lump ores.
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