“Increasing Technological Advancements”
- The iron ore pellets market is driven by technological advancements that improve efficiency and sustainability in production
- A key trend is the growing adoption of direct reduction iron processes, which use hydrogen to reduce carbon emissions, enhancing steel production efficiency
- Automation and artificial intelligence are transforming the pelletization process, leading to better quality pellets and less waste
- Emerging markets, especially in Asia, are seeing increased demand for iron ore pellets due to the booming steel industry
- For instance, India’s National Steel Policy aims to raise steel production to 300 million tons by 2030, increasing the demand for high-quality pellets and the iron ore pellets market is thriving due to technological advancements, cleaner production methods, and rising demand from emerging markets.
