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Iron Ore Mining in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Iron Ore Mining Market Research Report | NAICS 21221 | Jun 2014

Pumping iron: A decline in the price of iron ore will lead to a slight drop in revenue

IBISWorld’s Iron Ore Mining market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 09-14
26.8%
Annual Growth 14-19
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Profit
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Employment
4,950
Businesses
21
Industry Analysis & Industry Trends

After a period of major highs and lows, revenue for the Iron Ore Mining industry is expected to experience steady growth over the next five years. Through 2019, production and profit are expected to increase, supported by strong demand for steel from emerging economies and the strengthening of the US economy. However, the price of iron ore is projected to drop in three of the next five years, threatening growth... purchase to read more

Industry Report - Industry Analysis Chapter

The US mining sector has grown considerably as the economy has recovered. During the recession, weak demand and subsequent drops in output and prices sent revenue crashing 73.6% in 2009. The sudden drop in iron and steel demand during the downturn caused iron ore prices to fall 48.7% in 2009, forcing industry operators to curtail production or close mines and processing facilities to reduce costs. However, conditions reversed in 2010 as US manufacturing activity (e.g. automobile production) picked up and demand from emerging markets boosted prices. Revenue more than doubled from its recessionary low over the year and strengthened further in 2011. Nevertheless, iron prices plummeted 23.4% in 2012 due to economic uncertainty, driving revenue down... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Iron Ore Mining Industry?

Companies in this industry mine iron-bearing ores. In addition to ore extraction, mining includes the development of mine sites and the processing of ore into a concentrated or pellet form. Iron ore and iron ore pellets are then sold as an input for blast-furnace steel production (Iron and Steel Manufacturing industry, IBISWorld report 33111).

Industry Products
Iron ore pelletsConcentratesFine oresSinterOther agglomeratesNuggets
 
Industry Activities
Iron ore miningIron ore beneficiating


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