Market analysis of iron ores
Technavio’s market research analyst predicts the global iron ore market to grow at a CAGR of around 3% during the forecast period. The rising the demand from the construction, infrastructure, and transportation sectors id driving the growth of this market. Around 98% of the iron ore mined is used in making steel that is consumed by the mechanical machinery, maritime equipment and vessels, infrastructure and construction sectors.
The high capital required for the iron ore industry is expected to pose challenges for the market growth during the forecast period. Huge investments are necessary for heavy machinery and infrastructure such as railways and harbors for the transport of iron ore from the mine to freight. Governments in various regions are now introducing new policies to attract private investors in the iron ore mining business by enabling dedicated ports or terminals to handle iron ore operations.
Segmentation by form and analysis of the iron ore market
• Iron ore lumps
• Iron ore fines
The iron ore lumps segment accounted for 62% of the market share during 2014 and is expected to reach a market volume of around 1.43 billion metric tons by the end of 2019.
Segmentation by grade and analysis of the iron ore market
The low-grade iron ore segment accounted for 58% of the market share during 2014 and is expected to grow at a rate of 4% during the forecast period. The low-grade iron ore contains approximately 40-60 % of iron and 17-30% of silica. . China is the global leader in the extraction of low-grade iron ore with 30-40% of iron content.
Geographical segmentation and analysis of the global iron ore market
APAC dominated the iron ore market during 2014, with a market share of 74%. The growth of the construction, automotive, and other end-user sectors is boosting the growth of the iron ore market in this region. Australia, China, and India are the major producers of iron ore in this region
Competitive landscape and key vendors
The global iron ore market is highly fragmented with small and large vendors. The market is highly competitive and dominated by large global vendors who have a vast geographical presence, with production facilities located worldwide.
The key vendors in the market are –
• BHP Billiton
• China Minmetals
• Fortescue Metals
• Rio Tinto
Other vendors in the market include African Minerals, Anglo American, ArcelorMittal Brasil, ArcelorMittal Canada, Arrium, Assmang, Atlas Iron, Bahia Mineracao, BC Iron, Bemisa, Brockman, CITIC Pacific, Cliffs Natural Resource, China Metal Products, CSN, CVG Ferrominera Orinoco, Eurasian Natural Resource, Ferrexpo, Ferrous Resources, Flinders, Gindalbie, Grange Resources, Hancock Prospecting, IOC, Kumba Iron Ore, Labrador Iron Mines, LKAB, London Mining, Metalloinvest, Mineral Resources, MMX, Mt. Gibson, New Millennium Iron, Northern Iron, Palabora, Samarco, Shougang Hierro, SNIM, Usiminas, Western Desert Resources, and Zamin Ferrous.
Key questions answered in the report include
• What will the market size and the growth rate be in 2019?
• What are the key factors driving the global iron ore market?
• What are the key market trends impacting the growth of the global iron ore market?
• What are the challenges to market growth?
• Who are the key vendors in the iron ore market?
• What are the market opportunities and threats faced by the vendors in the iron ore market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
• What are the key outcomes of the five forces analysis of the global iron ore market?
Technavio also offers customization on reports based on specific client requirement.
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