Global Iron Ore Industry

Global Iron Ore Industry

  • June 2020 •
  • 207 pages •
  • Report ID: 3878752 •
  • Format: PDF
Amid the COVID-19 crisis and the looming economic recession, the Iron Ore market worldwide will grow by a projected 80.8 Million Metric Tons, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 0.5%. Iron Ore, one of the segments analyzed and sized in this study, is forecast to grow at over 0.5% and reach a market size of 2.2 Billion Metric Tons by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Iron Ore market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 0.1% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over -0.9 Million Metric Tons to the region’s size over the next 7 to 8 years. In addition, over 1.2 Million Metric Tons worth of projected demand in the region will come from Rest of European markets. In Japan, the Iron Ore segment will reach a market size of 139.4 Million Metric Tons by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Iron Ore market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 1.9% over the next couple of years and add approximately 46.3 Million Metric Tons in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Iron Ore market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others, 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; Mechel PAO; Metalloinvest MC LLC; Rio Tinto Group; Shandong Jinshunda Group Co., Ltd.; United States Steel Corporation; Vale S.A