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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 | Nov 2015

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

IBISWorld’s Iron Ore Mining market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 11-16
-18.2%
Annual Growth 16-21
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Profit
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Employment
3,520
Businesses
10
Industry Analysis & Industry Trends

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 in 2009. The sudden drop in iron and steel demand during the downturn caused iron ore prices to fall significantly, forcing industry operators to curtail production or close mines and processing facilities to reduce costs. In the coming years, the industry is expected to continue benefiting from expanding foreign demand... purchase to read more

Industry Report - Industry Locations Chapter

According to the US Geological Survey, there are currently 12 US mines producing iron ore, concentrated primarily in Minnesota, Michigan and Missouri. Although there are other iron ore deposits across the country, the current location of operating iron ore mines is determined by the location of the most economically viable iron ore deposits. Regional breakdown of US iron ore production has been stable for several years. Because the industry also includes facilities for beneficiation, agglomeration and pelletizing of iron ore, establishment share is diversified beyond the location of mines, bringing the total number of industry establishments to 31... 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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