Global Iron Ore Market: Market Driver and Restraint
Applications of Iron Ore are anticipated to create new business segments in the market. Iron Ore is in use for a broad range of Construction products such as Hot rolled steel, Cold rolled Steel & others. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market. Iron Ore application is developed towards a more active mode.
Manufacturers are exploring the potential of Iron Ore in Transportation. Application of Iron Ore in Home Appliances are gaining traction in the recent years. Recently, manufacturers have started using Iron Ore in the Machinery area. Further, there are also potential uses in the areas of Small devices.
Global Iron Ore Market: Forecast by Nature
This segment includes Iron Ore Fines, Iron Ore Pellets, etc. In terms of volume, Iron Ore Fines segment is expected to remain dominant in the global Iron Ore market.
Global Iron Ore Market: Forecast by Region
Europe, C.I.S., North America, Asia, South & Central America, Asia, Oceania are the seven regions that are included in this report. China, the largest producer, consumer and importer of iron ore. Over half of the nation’s domestic iron ore production comes from mines located in Hebei and Liaoning provinces while Beijing, Shanxi province and Inner Mongolia are the other iron ore producing regions. Ansteel Mining, a wholly-owned subsidiary of Anshan Iron and Steel Group (Ansteel Group), is the biggest iron ore producer in the country. Brazil hosts the world’s top four biggest iron ore mines including the world biggest Carajas iron ore mine, which is wholly owned and operated by Vale, the world’s biggest iron ore producing company. The world’s second biggest iron ore mining operation Samarco Alegria located in the state of Minas Gerais is owned and operated by a 50-50 joint venture between Vale and BHP Billiton. Brazil also hosts Anglo American’s wholly-owned Minas-Rio iron ore mine which is the world’s ninth biggest by reserves.
Global Iron Ore Market: Key Players
Vale, Rio Tinto, BHP, Fortescue Metals, Anmining, ArcelorMittal, Anglo American, HBIS Group, Beijing Huaxia Jianlong Mining, Evrazholding Group, Metalloinvest, LKAB Group, Cleveland-Cliff, etc. are the key vendors included in this report.
The market concentration of Iron Ore is medium. The supply and demand relationship in the industry has been stable and modest. Of the 2017 global market, the top 5 companies, account for more than 40% of sales. Vale Chemical is by far the leader, followed by Rio Tinto and BHP. Key Vendors like Fortescue Metals, Anmining, and ArcelorMittal, also play important part in regional market, so the market share in each region is quite different.
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