Global Iron Ore Mining Market, By Type (Iron Ore Mining Fines, Iron Ore Mining Pellets, Iron Ore Pellet Feed, Others), End Users (Construction, Transportation, Others) – Industry Trends and Forecast to 2029.
Iron Ore Mining Market Analysis and Size
Over the last few years, the iron ore mining industry is characterized by considerable volatility and is affected by the global demands. The extent of global industrialization in growing economies such as India and China is the factor boosting the growth of the market over the forecasted period. Typically most leading iron ore producers engage in exporting overseas market. Over 62% of the iron ore demands were recently from China. The rising import and export activities across the globe also boosts the market's growth over the forecasted period.
Global iron ore mining market was valued at USD 2675.00 million in 2021 and is expected to reach USD 4596.15 million by 2029, registering a CAGR of 7.00% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Iron Ore Mining Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Million, Volumes in Units, Pricing in USD
Type (Iron Ore Mining Fines, Iron Ore Mining Pellets, Iron Ore Pellet Feed, Others), End Users (Construction, Transportation, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
BHP (Australia), Rio Tinto (U.K.), Northern Iron & Machine (U.S.), Shree Minerals Ltd. (Australia), Mount Gibson Iron (Australia), Vale (Brazil), ArcelorMittal (Luxembourg), NIPPON STEEL CORPORATION. (Japan), POSCO (South Korea), Tata Steel (U.K.), Great Panther Mining Limited (Canada), Atlas Iron Works (U.S.), Iron Ore Company of Canada. (Canada), Kudremukh Iron Ore Company (India), Cleveland-Cliffs Inc. (U.S.), GFG Alliance (U.K.), Eurasian Resources Group (Luxembourg), JSW (India), Mineral Resources (Australia), Exxaro. (South Africa)
The iron ore mining refers to the combination of minerals from which metallic iron can be extracted on the economic basis processed through. They are mined over 50 countries and the primary use of iron ore is to make steel which is 100% recyclable.
Global Iron Ore Mining Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Rise in the extraction and mining activities
The rise in the constructional and extraction activities have led to the rise in the demands of iron and steel globally. The rise in the extraction activities is therefore, the primary factor driving the growth of the market over the forecasted period. The iron ore trading activities have been increased by 2.1 percent globally. Moreover, the iron ore production and mining units have been increased and expanded over the recent years. These factors will further propel the growth of the market over the forecasted period.
- High usage for constructional purpose
The steel extracted from iron ores is extensively used across construction industries. They are widely used in the building and construction sector to shield structures from any damage from the outside. Additionally, the product is applied in a number of ways in buildings, both residential and non-residential, as well as industrial machinery, automobiles and boats and other things. The expansion of end use industries, coupled with the increase in urbanization and population, will further propel the growth rate of iron ore mining market. Additionally, the rapid urbanization and industrialization in emerging countries, such as India, China, and Southeast Asia, will drive market value growth.
- Expansion of steel industries
The expansion of steel industries across the globe is the factor creating lucrative growth opportunities for the market over the forecasted period. For instance, the Arcelormittal Steel India expects a profit of US$ 250-300 million per annum from the synergies arising from the proposed acquisition of infrastructure assets from Essar Group. Moreover, the Essar Group announced an agreement for acquisition of port and power assets by the joint venture of global steelmakers of value of net worth $2.4 billion. All these expansion activities related to manufacturing and production units and the mining activities are creating significant lucrative growth opportunities for the market over the forecasted period.
- Stringent approval process
The personnel associated in mining activities must enhance their processes per the regulatory policies imposed by various governments. These stringent policies further result in more time for approval, which will create hindrances for the growth of the iron ore mining market.
- Fluctuations in raw material prices
The inconsistent raw material prices have a direct negative impact on the overall market’s growth. As a result, these fluctuations will pose as a major challenge the iron ore mining markets’ growth rate.
This iron ore mining market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the iron ore mining market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Iron Ore Mining Market
The recent outbreak of coronavirus had a negative impact on the iron ore mining market. It seriously damaged the market due to the disruption of mining activities and the production units across the chemical industries due to the lockdown restrictions. The market faced disruption in supply chains, lesser availability of workforce, fluctuations in prices and availability of raw materials which hampered the market largely. However, with the gradual upliftment of restriction and restoration of business operations, the overall mining industry is expected to grow steadily. Also, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue, and the market is estimated to expand.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
- In 2021, ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between global steel majors Arcelormittal and Nippon steel, submitted and EOI for collaboration with Srei group companies in order to solve issues related to insolvency proceedings.
Global Iron Ore Mining Market Scope
The iron ore mining market is segmented on the basis of type and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Iron Ore Mining Fines
- Iron Ore Mining Pellets
- Iron Ore Pellet Feed
Iron Ore Mining Market Regional Analysis/Insights
The iron ore mining market is analyzed and market size insights and trends are provided by type and end users as referenced above.
The countries covered in the iron ore mining market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue. It will continue to flourish its dominance due to the increasing engineering and construction activities along with the rising focus of infrastructural activities within the region.
North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rapid development along with the prevalence of various market players within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Iron Ore Mining Market Share Analysis
The iron ore mining market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to iron ore mining market.
Some of the major players operating in the iron ore mining market are
- BHP (Australia)
- Rio Tinto (U.K.)
- Northern Iron & Machine (U.S.)
- Shree Minerals Ltd. (Australia)
- Mount Gibson Iron (Australia)
- Vale (Brazil)
- ArcelorMittal (Luxembourg)
- NIPPON STEEL CORPORATION. (Japan)
- POSCO (South Korea)
- Tata Steel (U.K.)
- Great Panther Mining Limited (Canada)
- Atlas Iron Works (U.S.)
- Iron Ore Company of Canada. (Canada)
- Kudremukh Iron Ore Company (India)
- Cleveland-Cliffs Inc. (U.S.)
- GFG Alliance (U.K.)
- Eurasian Resources Group (Luxembourg)
- JSW (India)
- Mineral Resources (Australia)
- Exxaro. (South Africa)