According to the latest study titled ‘Europe Iron Ore Pellets Market Size, By Product Source, Grade, Balling Technology, Application, Steelmaking Technology, Pelletizing Process, Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Europe iron ore pellets market is projected to grow with strong CAGR during 2020-2026.
 

Increasing effort towards digitalization of industrial sector, coupled with emergence of Industry 4.0, and flourishing construction as well as automotive sector are impelling the growth of Europe iron ore pellets market. Initiatives taken by the government to encourage domestic production and utilization of steel products, and high import tariff of certain steel commodities will act in favor of the market scenario.
 

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Though recent developments like Covid-19 pandemic and Brexit leading to geopolitical uncertainties has been a cause of worry of the industry, but relief packages announced by the federal agencies for various end-use verticals will revive the demand for iron ore pellets, thereby generating revenues.
 

Speaking of grade, direct reduction (DR) segment of Europe iron ore pellets industry is poised to grow with a CAGR of 4% over the forecast period, owing to preference for high purity iron one for steelmaking.
 

Moving on application scope, the industry share from iron-based chemicals application is anticipated to surge at an annual rate of 2.5% through 2026, on account of extensive usage of iron-based chemicals as coagulants in water treatment process to meet the regulatory standard for water quality.
 

Elaborating on steelmaking technology terrain, electric induction furnace segment is touted to gain substantial traction in the ensuing years, as the technology results in higher yield with superior melting rate and cleaner burning.
 

Considering product source, magnetite accounts for 60% of Europe iron ore pellets market in general. This is because Europe has large magnetite reserves, which is capable of sustaining the demand from steel industry.
 

As per pelletizing process, Europe iron ore pellets market size from shaft furnace segment continues to grow modestly, as it is the traditional method leveraged across numerous facilities in the region.
 

Lastly, well-renowned names in the industry, profiled in the report are EVRAZ KGOK AO, Severstal PAO, Voestalpine AG, Metalloinvest MC LLC, Metinvest Group, ArcelorMittal S.A., Ferrexpo plc, Nordic Iron Ore AB, and Luossavaara-Kiirunavaara Aktiebolag (LKAB).