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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 | Oct 2013

Pumping iron: Demand for steel-using products and a surge in exports will support demand

IBISWorld’s Iron Ore Mining market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 08-13
-4.9%
Annual Growth 13-18
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Profit
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Employment
4,723
Businesses
18
Industry Analysis & Industry Trends

After a period of major highs and lows, revenue will maintain steady growth over the next five years. Through 2018, 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. Nevertheless, over the next five years, industry revenue is anticipated to increase as a result of strong demand from emerging economies like China... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Iron Ore Mining industry is highly concentrated, with the three largest firms (Cliffs Natural Resources, US Steel and ArcelorMittal) accounting for over two thirds of industry production and about 77.8% of revenue. Industry concentration, which was already high, has increased during recent years due to consolidation activity. A few large companies control the largest and highest-volume producing mines. This results from the small amount of iron ore resource locations available.

The largest industry player, Cliffs Natural Resources, owns and operates five of the 13 iron ore mines in the United States (Empire, Tilden, Hibbing Taconite, Northshore Mining and United Taconite), which generate an estimated 37.9% of revenue... 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 (IBISWorld report 33111, Iron and Steel Manufacturing).

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


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