NEW YORK, Sept. 15, 2023 /PRNewswire/ — The iron ore market size is expected to grow by USD 51 billion from 2022 to 2027, accelerating at a CAGR of 2.93%. The increase in consumption of high-strength iron ore and steel is notably driving the iron ore market. However, factor such as the high capital investment market may impede market growth. Technavio’s report provides a detailed analysis of 20 companies operating in the iron ore market including Anglo American plc, Ansteel Group Corp. Ltd., ArcelorMittal SA, Atlas Iron Pty Ltd., BCI Minerals Ltd., BHP Group plc, China Hanking Holdings Ltd., Cleveland Cliffs Inc., Eurasian Resources Group Sarl, Ferrexpo Plc, Fortescue Metals Group Ltd., GFG Alliance, KIOCL Ltd., Luossavaara Kiirunavaara AB, Metinvest BV, Mideast Integrated Steel Ltd., Mount Gibson Iron Ltd., NMDC Ltd., Rio Tinto Ltd., and Vale SA. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request Free Sample Report
Iron Ore Market 2023-2027: Company Analysis
Rio Tinto Ltd.- The company offers iron ore in the form of fines and lump. This report provides a full list of key companies, their strategies, and latest developments. Buy the full report Now for detailed company information.
Iron Ore Market 2023-2027: Segmentation
Product
- Fines
- Pellets
- Lump
- HBI/DRI
Source
- Surface mining
- Underground mining
Geography
- APAC
- Europe
- South America
- North America
- Middle East and Africa
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View Free PDF Sample Report
Iron Ore Market 2023-2027: Market Dynamics
Market Drivers – The increase in usage of durable iron ore and steel is a key factor driving the market growth.
Market Trends – China’s and India’s economic growth is boosting the demand for stainless steel which is a major trend shaping the market growth.
Market Challenges – Rising preference for carbon fiber in automotive applications is a major challenge hindering market growth.
To get more details on the market drivers, trends and challenges, download the free sample report now
Iron Ore Market 2023-2027: Regional Analysis
The Asia-Pacific (APAC) region is expected to be a major driver of global iron ore market growth, contributing around 84% during the forecast period. This growth is primarily due to increased demand for iron ore in APAC, driven by industrialization, infrastructure projects, and rising steel needs in countries like Indonesia, South Korea, and India. Government has taken steps to increase the steel production further to support this demand, especially in India, which is becoming a significant global player in crude steel manufacturing.
Iron Ore Market 2023-2027: Key Highlights
- Historic Market Size 2017-2021
- CAGR of the market during 2023-2027
- Detailed information on factors that will assist iron ore market growth during the next five years
- Estimation of the iron ore market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the iron ore market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of iron ore market companies
Related Reports:
Stainless Steel Market: The stainless steel market is estimated to grow at a CAGR of 3.38% between 2022 and 2027. The size of the market is forecasted to increase by 10,299.64 thousand tons.
Bentonite Market: The bentonite market share is expected to increase by USD 401.92 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.86%.
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Iron Ore Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.93% |
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Market growth 2023-2027 |
USD 51 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
2.73 |
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Regional analysis |
APAC, Europe, South America, North America, and Middle East and Africa |
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Performing market contribution |
APAC at 84% |
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Key countries |
China, Japan, India, Russia, and Brazil |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Anglo American plc, Ansteel Group Corp. Ltd., ArcelorMittal SA, Atlas Iron Pty Ltd., BCI Minerals Ltd., BHP Group plc, China Hanking Holdings Ltd., Cleveland Cliffs Inc., Eurasian Resources Group Sarl, Ferrexpo Plc, Fortescue Metals Group Ltd., GFG Alliance, KIOCL Ltd., Luossavaara Kiirunavaara AB, Metinvest BV, Mideast Integrated Steel Ltd., Mount Gibson Iron Ltd., NMDC Ltd., Rio Tinto Ltd., and Vale SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
