Iron Ore Market Size In 2022: Revenue Forecast, Business Share And Industry Growth, Top Prominent Players, Regional Overview, Demand Status, And Forecast 2031
According to The Business Research Company's iron ore market report, 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.
Government policies that support the iron ore industry are expected to drive the iron ore market. Governments are providing subsidies and encouraging foreign direct investments (FDI) in the mining industry. The amount of government support includes support through governments public finance institutions such as bilateral development banks and export credit agencies investing in mining projects, fiscal support through budget allocations and tax exemptions, and investments through majority state-owned mining and utility companies.
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The iron ore market is segmented -
• By Type Of Ore: Agglomerated Iron Ores, Nonagglomerated Iron Ores And Concentrates
• By End-Users: Construction, Manufacturing, Others
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the iron ore market.
Major competitors in the iron ore market include Vale S.A, Rio Tinto, BHP, Fortescue Metals Group Ltd. (FMG), Anglo American Plc.
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The iron ore market consists of sales of iron ores and concentrates by entities (organizations, sole traders and partnerships) that mine iron ore. The industry includes establishments that develop mine sites, mine and beneficiate iron ore, and produce sinter iron ore, except iron ore produced in iron and steel mills. It also includes producing other iron ore agglomerates and other beneficiation operations such as crushing, grinding, and washing, drying, sintering, concentrating, calcining, and leaching.
The Table Of Content For The Iron Ore Market Include:
1. Iron Ore Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
28. Iron Ore Market Opportunities And Strategies
29. Iron Ore Market, Conclusions And Recommendations
The Business Research Company's "Global Iron Ore Opportunities And Strategies Market Report - Forecast To 2030" is the most comprehensive report available in market, providing data and statistics from over 60 geographies analyzed in more than 2500 market segments. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. Additionally, it evaluates the market's historic and projected growth and identifies significant trends and strategies that can be used to outperform the competitors in the sector.
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