Global Iron Ore Market Growth 2023-2029

Global Iron Ore Market Growth 2023-2029

Iron ore is a relatively abundant metallic element (it composes about 5% of the Earth’s crust) and the main raw material used in steelmaking. Around 98% of global mined iron ore is used to make pig iron, which is an intermediate product of the steel-making process. The remaining 2% is used in several applications, such as production of cement, printing inks, plastics, cosmetics (eye shadow), artistic colors, fertilizer ingredients, and pigments. Currently, iron ore is mined in over 50 countries; however, the bulk of production comes from Australia, Brazil and China.

LPI (LP Information)' newest research report, the “Iron Ore Industry Forecast” looks at past sales and reviews total world Iron Ore sales in 2022, providing a comprehensive analysis by region and market sector of projected Iron Ore sales for 2023 through 2029. With Iron Ore sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Iron Ore industry.

This Insight Report provides a comprehensive analysis of the global Iron Ore landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Iron Ore portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Iron Ore market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Iron Ore and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Iron Ore.

The global Iron Ore market size is projected to grow from US$ 177890 million in 2022 to US$ 148010 million in 2029; it is expected to grow at a CAGR of 148010 from 2023 to 2029.

The global iron ore market is highly fragmented with small and large vendors. The key vendors in the market are BHP, Vale, Rio Tinto etc. The top 3 companies hold a share about 40%. Asia Pacific is the largest market, with a share about 70%, followed by South America with the share about 20%.

This report presents a comprehensive overview, market shares, and growth opportunities of Iron Ore market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Sinter feed

Pellet feed

Lump

Pellet

Segmentation by application

Cold-rolled Sheet

Hot-Rolled Sheet

Rod and Wires

Pipes

Ingots and Semi-finished Steel

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Rio Tinto

Vale

BHP

FMG

HPPL

Anglo American

ArcelorMittal

Ansteel Mining

NMDC

Metinvest

LKAB

Metalloinvest

CSN

NLMK

MRL

CAP

Severstal

EVRAZ

Cleveland-Cliffs

Ferrexpo

SSGPO

HBIS Resources

Huaxia Jianlong

Hainan Mining

Dazhong Mining

IRC

Jinling

Hanking

Key Questions Addressed in this Report

What is the 10-year outlook for the global Iron Ore market?

What factors are driving Iron Ore market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Iron Ore market opportunities vary by end market size?

How does Iron Ore break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.