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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 | Dec 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 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
$7bn
Annual Growth 09-14
24.6%
Annual Growth 14-19
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Profit
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Employment
4,657
Businesses
21
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 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 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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