The 2023-2028 World Outlook for Iron Ore Mining

The 2023-2028 World Outlook for Iron Ore Mining

This study covers the world outlook for iron ore mining across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

This study covers iron ore mining as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").

The NAICS code for iron ore mining is 21221. It is for this definition that aggregate latent demand estimates are derived. Iron ore mining is specifically defined as follows:

21221 See industry description for 212210.

212210 This industry comprises establishments primarily engaged in (1) developing mine sites, mining, and/or beneficiating (i.e., preparing) iron ores and manganiferous ores valued chiefly for their iron content and/or (2) producing sinter iron ore (except iron ore produced in iron and steel mills) and other iron ore agglomerates.

2122101 CRUDE IRON ORE

2122103 IRON ORE CONCENTRATES AND AGGLOMERATES

2122108 Iron ores

212210P Primary products

21221011 Crude iron ore

21221031 Iron ore concentrates and agglomerates

2122101111 Direct shipping crude iron ore

2122101121 Crude iron ore for treatment, concentration, etc.