Press release
2020 Iron Ore Market By Type Of Ore, Drivers, Restraints And Major Players, By Regions, Opportunities And Strategies by 2030
Iron Ore Market
The global iron ore market reached a value of nearly $136,145.5 million in 2019, having increased at a compound annual growth rate (CAGR) of 4.8% since 2015. The market is expected to decline from $1,64,534.6 million in 2019 to $1,31,964.9 million in 2020 at a rate of –19.8%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to slightly grow from $130,892.0 million in 2021 to $132,496.9 million in 2023 at a CAGR of 0.6% and decline to $129,444.0 million in 2030.
The Key drivers of the iron ore market include:-
The market research services market is expected to benefit from rising focus on customer satisfaction and experience surveys. The rise of competition among companies is forcing them to find new ways to retain their customers and attract new ones. To accomplish this goal, many companies are looking for continuous feedback from customers to deliver high quality goods or services.
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Iron Ore Market Segmentation:-
By Type Of Ore -
• Agglomerated Iron Ores
• Nonagglomerated Iron Ores And Concentrates
The nonagglomerated iron ores and concentrates was the largest segment of the iron ore market by type of ore, accounting for 74.0% of the total market in 2019.
By End-Users -
• Construction
• Manufacturing
• Others
The construction was the largest segment of the iron ore market by end-use, accounting for 37.6% of the total market in 2019.
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By Geography - The iron ore market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the iron ore market are
• Vale S.A.
• Rio Tinto
• BHP
• Fortescue Metals Group Ltd. (FMG)
• Anglo American Plc
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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