The Business Research Company’s Iron Ore Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Iron Ore Global Market Report 2023 evaluates iron ore market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global iron ore market is expected to grow from $559.78 billion in 2027 at a rate of 7.8%. The market is then expected to grow at a CAGR of 7.2% from 2027 and reach $791.94 billion in 2032.
Increasing urbanization is expected to lead to growth in the construction, automobile and manufacturing industries, which will subsequently propel the growth of the iron ore market. The iron ore industry was not only a typical heavy industry in and of itself but also served as the foundation for other industrial companies because iron was widely used, and agricultural productivity grew. Steel, which is produced from iron ore, served as a crucial source of raw materials for urban infrastructure during the same period. Therefore, the growth of the iron ore sector was integral to the global industrialization and urbanization processes. For instance, as of October 2022, according to the World Bank, around 4.4 billion people, or 56% of the world’s population, resided in cities. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. By 2030, the world is predicted to have 1.2 million km² more urban built-up areas due to urban land consumption is expected to continue to expand at a rate that is up to 50% faster than population growth. Therefore, the increasing urbanization will drive the growth of the iron ore market.
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The iron ore market segments in the report are:
1) By Mining Type: Underground Mining; Surface Mining
2) By End-Use Industry: Construction; Manufacturing; Other End-Uses
The table of contents in TBRC’s iron ore market report includes:
- Executive Summary
- Table Of Contents
- List Of Figures
- List Of Tables
- Report Structure
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- Key Mergers And Acquisitions
- Market Background: Metal Ore Market
- Opportunities And Strategies
- Iron Ore Market, Conclusions And Recommendations
- Appendix
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