Bharat Book Bureau Provides the Trending Market Research Report on “Iron Ore Global Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery” under Chemical & Materials Category. The report offers a collection of superior Market 2030 research, Market 2030 analysis competitive intelligence and Market 2030 reports.

Global Iron Ore Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery

Including: By End-Use: Construction; Manufacturing; Others

By Type Of Ore: Agglomerated Iron Ores; Nonagglomerated Iron Ores And Concentrates

Covering: Vale S.A.; Rio Tinto; BHP; Fortescue Metals Group Ltd. (FMG); Anglo American Plc

The iron ore market consists of sales of iron ores and concentrates by entities that mine iron ore. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.


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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.

Growth in the historic period resulted from large iron ore reserves globally, strong economic growth in emerging markets and a low interest rate environment. Factors that negatively affected growth in the historic period were fatal accidents in mining and geo-political tensions.

Going forward, emerging markets growth, government policies, increasing construction activities, increase in production capacities, improved logistics infrastructure and increasing automobiles manufacturing are expected to drive the market. Skills shortages, environmental impacts of iron ore mining, reduction in free trade, rising interest rates, the coronavirus pandemic, fluctuating prices, uncertain demand for iron ore and overcapacity of steel which is underutilized are major factors that could hinder the growth of the iron ore market in the future.

The iron ore market is segmented by end-use into construction, manufacturing and 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.

The iron ore market is also segmented by type of ore into agglomerated iron ore and nonagglomerated iron ore. 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.

Asia-Pacific was the largest region in the global iron ore market, accounting for 82.2% of the total in 2019. It was followed by the Western Europe, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the iron ore market will be South America and Eastern Europe, where growth will be at CAGRs of 1.6% and 0.2% respectively.

The outbreak of the Coronavirus disease (COVID-19) has acted as a significant restraint on the iron ore market in 2020, as governments globally imposed lockdowns and restricted the movement of people and goods to contain the virus, due to which the mines are getting closed. For instance, Brazil’s Vale SA was ordered to suspend operations after workers contacted with COVID-19. COVID- 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has since spread globally including to Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down'. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that, in time, the iron ore market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

The iron ore market is concentrated, with a small number of large players in the market. The top ten competitors in the market made up to 62.31% of the total market in 2019. Major players in the market include Vale SA, Rio Tinto, BHP, Fortescue Metals Group Ltd. and Anglo American Plc.

The global metal ore market, of which the iron ore market is a segment, reached a value of nearly $223,925.9 million in 2019, growing at a compound annual growth rate (CAGR) of 6.3% since 2015. It is expected to decline at a CAGR of -2.5% and reach nearly $202,273.2 million by 2023. The iron ore market was the largest segment in the global metal ore market accounting for 73.5% of the total in 2019. The uranium ore market was the smallest segment of the global metal ore market, accounting for 0.7% of the total and was valued at $1,607.3 million in 2019.

Market-trend-based strategies for the iron ore market include investing in robotics to improve mining productivity and prevent mining accidents, investing in renewable energy capacities to reduce carbon emissions from mining zones, invest in cognitive computing to improve the efficiency in mining operations, use more applications of wearable technology which ensures safety of the quarry workers, use 3D mine visualizers to identify difficult terrains and enhance productivity and invest in big data analytics to improve performance and ensure safer mining operations. Player-adopted strategies in the iron ore market include focus on carrying out iron ore exploration activities in new regions, develop and operate a portfolio of high quality and long life mineral assets, to deliver leading shareholder returns and expanding businesses through sustainable investments, merger and acquisitions and strengthening through collaboration.

To take advantage of the opportunities, the recommends the iron ore companies to use new technologies in iron ore for improving efficiency and productivity, use of predictive technology, take initiatives to use renewable energy, produce high-quality iron ore, offer competitive pricing, focus on keeping costs low, expand in emerging markets, conduct e-auctions, do B2B promotions, increase visibility through business websites and listing websites and focus on fast-growing end-use industries.

Table of Content:

Iron Ore Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
6.1.1. Segmentation By Geography
6.1.2. Segmentation By End-Use
6.1.3. Segmentation By Type Of Ore
7. Iron Ore Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By End-Use
7.2.1. Construction
7.2.2. Manufacturing
7.2.3. Others
7.3. Market Segmentation By Type Of Ore
7.3.1. Agglomerated Iron Ores
7.3.2. Nonagglomerated Iron Ores And Concentrates
8. Iron Ore Market, Supply Chain Analysis
8.1.1. Mining Equipment Suppliers
8.1.2. Land
8.1.3. Mining
8.1.4. Transportation
8.1.5. End-Users
9. Iron Ore Market, Product/Service Analysis –Product/Service Examples
10. Iron Ore Market Customer Information
10.1. Survey On Outlook Of The China Iron And Steel Industry Post COVID Outbreak
10.1.1. Steel Demand To Increase From The Infrastructure Industry
10.1.2. Iron Ore Requirements To Increase In Future
10.2. Survey On Outlook Of The Steel Manufacturing Industry In Russia
10.2.1. Drivers Of Global Competitiveness For Steel Industry In Russia
10.2.2. Corruption Is The Major Issue Faced By Steel Companies
10.2.3. Innovative Activities Adopted By Steel Companies
11. COVID-19 Impact On Iron Ore Market
11.1. Impact On Global Iron Ore Supply
11.2. Impact On Global Iron Ore Prices
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