Global Iron Ore Market 2018-2022 | Rise in Production Capacities and New Plants in Developing Markets to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 12, 2019--
The global iron ore market is expected to post a CAGR almost 4% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global iron ore market 2018-2022. (Business Wire)
The increasing number of international customers and major iron ore producers exporting their products to international customers are driving the need for integrated rail, road, and seaway logistic system. The prominence of shipping industry in export and import of iron ore products is further increasing with the growing globalized economy. Thus, the rise in seaborne iron ore trade will boost the growth of the iron ore market during the forecast period.
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As per Technavio, the rise in production capacities and new plants in developing markets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Iron Ore Market: Rise in Production Capacities and New Plants in Developing Markets
Producers of iron ore in emerging markets are increasingly planning on starting new mining plants or expanding their production capacities. For instance, SAIL has planned on expanding its iron ore mine capacity at Chiria, Gua, Mehgahatuburu, and Kiriburu in Jharkhand. Similarly, Mobarakeh Steel Company has installed new iron ore pelletizing plant in Sangan, northeastern Iran. Thus, with the expansion of iron ore plants, the market for iron ore is expected to showcase a positive outlook during the forecast period.
“Cost-cutting drive by iron ore producers and high production volumes from Australia, Brazil, and China are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Iron Ore Market: Segmentation Analysis
This market research report segments the global iron ore market by product (fines, HBI/DRI, pellets, and lumps) and geography (Americas, APAC (excluding China), China, and EMEA).
China led the market in 2017, followed by APAC, EMEA, the Americas respectively. During the forecast period, China is expected to maintain its dominance over the global market. This is due to the increasing demand for high-grade iron-ore from end-user industries in China.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: Technavio Research
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PUB: 11/12/2019 01:00 PM/DISC: 11/12/2019 01:00 PM