This market research report presents a detailed segmentation of the global iron ore market by form (iron ore lumps and iron ore fines) and by grade (low, medium, and high). It provides a market share analysis and projections of its key regions, including Americas, APAC, Europe, and MEA. Key findings also include an analysis of the leading vendors such as BHP Billiton, China Minmetals, Fortescue Metals, Rio Tinto, and Vale.
Technavio has released its new market research report, global iron ore market, which is expected to grow at a CAGR of around 3% between 2015 and 2019. 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. APAC dominates the global market for iron ore, occupying around 74% of the total market share. 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.
“The market is expected to witness iron ore trade flows from the largest supplying regions of Australia, Brazil, and India to China and other Asian countries during the forecast period. This is due to infrastructure-led investment activities, an industrializing economy, and the rise in domestic demand from China and other Asian nations. As iron-ore is the main raw material used in the steel making process, the growth in urbanization projects is boosting its demand across the globe,” says Chandrakumar BJG, Lead Analyst, Chemicals & Materials, Technavio Research.
The low-grade iron ore account for 58% of the market share during, 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. This ore exhibits extreme hardness and requires additional drilling, blasting, crushing, and grinding processes to extract the ore successfully. China is the global leader in the extraction of low-grade iron ore with 30-40% of iron content.
The leading vendors in the global iron ore market include BHP Billiton, China Minmetals, Fortescue Metals, Rio Tinto, and Vale. This 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.
A more detailed analysis is available in the Technavio report, Global Iron Ore Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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