1. Market Research
  2. > Mining and Quarrying
  3. > Metals Market Trends
Global Iron Ore Industry

Global Iron Ore Industry

  • June 2021
  • 232 pages
  • ID: 3878752
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

Abstract:

Global Iron Ore Market to Reach 2.7 Billion Metric Tons by 2026

Supported by end-use industries and positive outlook across both developed and developing economies, steel demand is projected to increase in 2021 and 2022. The industry is likely to gain from eventual stabilization of ongoing COVID-19 waves along with vaccination programs, facilitating gradual return of primary steel-consuming nations to normalcy. The steel industry has experienced faster-than-expected recovery from the impact of lockdowns and production disruptions amid the COVID-19 outbreak. The rebound can be attributed to the strong contribution from major end-use sectors like construction and automotive. Representing the primary steel consumer, the global construction sector reported drop in output in 2020, considerably higher than the 2% decline experienced during the 2009 financial downturn. However, the sector is anticipated to recover quickly and attain the 2019 levels.

Amid the COVID-19 crisis, the global market for Iron Ore estimated at 2.1 Billion Metric Tons in the year 2020, is projected to reach a revised size of 2.7 Billion Metric Tons by 2026, growing at a CAGR of 3.7% over the analysis period. Fines, one of the segments analyzed in the report, is projected to grow at a 4% CAGR to reach 1.3 Billion Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the HBI/DRI segment is readjusted to a revised 3.4% CAGR for the next 7-year period. This segment currently accounts for a 27.3% share of the global Iron Ore market.

The U.S. Market is Estimated at 32.7 Million Metric Tons in 2021, While China is Forecast to Reach 1.6 Billion Metric Tons by 2026

The Iron Ore market in the U.S. is estimated at 32.7 Million Metric Tons in the year 2021. The country currently accounts for a 1.5% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 1.6 Billion Metric Tons in the year 2026 trailing a CAGR of 4.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.6% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR while Rest of European market (as defined in the study) will reach 1.7 Billion Metric Tons by the end of the analysis period. Traditionally, China has been the key driver to the growth in iron ore industry across the globe and is expected to remain so for the next few years. Any change occurring in the country`s steel production significantly influences global iron ore trade. Chinese demand for iron ore is primarily due to rapid urbanization and industrialization and a robust GDP growth, which exceeds the growth rates of most of the countries in the west.

Pellets Segment to Reach 426.3 Million Metric Tons by 2026

In the global Pellets segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 244.9 Million Metric Tons in the year 2020 will reach a projected size of 329.6 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 81 Million Metric Tons by the year 2026, while Latin America will expand at a 3.6% CAGR through the analysis period.

Select Competitors (Total 97 Featured)
  • Anglo American Plc
  • ArcelorMittal S.A.
  • BHP Billiton Group
  • Champion Iron Limited
  • Cleveland-Cliffs Inc.
  • Ferrexpo plc
  • Fortescue Metals Group Ltd.
  • Hainan Mining Co., Ltd.
  • Hancock Prospecting Pty Ltd
  • Luossavaara-Kiirunavaara AB
  • Mechel PAO
  • Metalloinvest MC LLC
  • Rio Tinto Group
  • United States Steel Corporation
  • Vale S.A.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on