Iron Ore Mining in China - Market Research Report (2014-2029)
Beijing, China
Last Updated: May 2024
0810Revenue
$109.4bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
604k
Businesses
3,445
Wages
$X.Xbn
Iron Ore Mining in China industry analysis
Revenue for the Iron Ore Mining industry in China is expected to fall at an annualized 1.7% over the five years through 2023, including 9.2% growth in 2023, to $109.4 billion. Over 3,400 enterprises operate in the industry, with total employment of 604,225 and expected total output of 983.2 million tons of iron ore in 2023. The COVID-19 pandemic had a negative impact on the whole economy, with downstream steel enterprises delaying resuming work and production at the beginning of 2020. However, as the spread of the virus had come under control in China, the production and sales activities of downstream steel industries had gradually returned to normal. Profit margins account for 7.5% of industry revenue in 2023.Imported iron is expected to satisfy about less than 60% of China's domestic demand in the current year. Imports are expected to increase at an annualized 10.9% over the five years through 2023, to total $136.4 billion.The industry's performance is projected to stabilize over the next five years compared with the turbulent past decade. China will likely maintain a steady pace of industrialization and urbanization, stimulating demand for steel products and iron ore. As a result, industry revenue is forecast to grow at an annualized 3.1% over the five years through 2028, to $127.2 billion.Competing imports will continue to account for a large proportion of domestic demand due to limited domestic iron ore supplies. The value of imports is forecast to grow at an annualized 8.3% over the five years through 2028. Imports are anticipated to increase as a share of domestic demand over the period, from 56.1% to 62.2%.
Trends and Insights
- The development of urbanization promotes the industry. Urbanization requires more steel, so iron ore is in greater demand as a feedstock.
- Magnetite accounted for the largest product segment of the industry. Liaoning Province are the largest suppliers of magnetite in China.
- Iron ore reserves are spread across the country, but the size varies widely. In addition to the availability of iron ore resources, the location of downstream iron and steel smelters also affects the geographical distribution of iron ore mining activities.
- Competition among domestic companies in the industry is not intense. Competition between companies focuses on obtaining mineral resources and developing distribution channels.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.7 % over the past five years, to reach an estimated $109.4bn in 2024.
Trends and Insights
Urbanization drives industry development
- China's trends in industrialization and urbanization drive demand for iron and steel products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Policies will continue to support the development of the industry
- The Outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 proposes that the urbanization rate of permanent urban residents should increase from 60.6% in 2019 to 65.0% in 2025.
Biggest companies in the Iron Ore Mining in China
| Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
|---|
There are no companies that hold a large enough market share in the Iron Ore Mining in China industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Magnetite, Hematite and Siderite. Magnetite is the largest segment of the Iron Ore Mining in China.
Trends and Insights
Magnetite accounted for the largest segment of the industry
- Magnetite refers to the oxide mineral magnetite ore.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Aluminum Ore Mining in China
Complementors
- Iron and Steel Smelting in China
International industries
- Global Iron Ore Mining
- Iron Ore Mining in the US
- Iron Ore Mining in Canada
- Iron Ore Mining in Australia
- Iron Ore Mining in New Zealand
Table of Contents
About this industry
Industry definition
Enterprises in the Iron Ore Mining industry in China mine and beneficiate (remove impurities from) iron ores. Products in this industry include hematite, magnetite, limonite, siderite and taconite, in both ore and powder forms.
What's included in this industry?
MagnetiteHematiteSideriteVanadium-titanium magnetiteLimoniteCompanies
Purchase this report to view all major companies in this industry.
Related Terms
MAGNETITEHEMATITESIDERITEPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The development of urbanization promotes the industry. Urbanization requires more steel, so iron ore is in greater demand as a feedstock.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Magnetite accounted for the largest product segment of the industry. Liaoning Province are the largest suppliers of magnetite in China.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Iron ore reserves are spread across the country, but the size varies widely. In addition to the availability of iron ore resources, the location of downstream iron and steel ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition among domestic companies in the industry is not intense. Competition between companies focuses on obtaining mineral resources and developing distribution channels...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Talent and technology are very important. Most of the enterprises have technicians with rich experience in mining, beneficiation technology and mine management.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
China resumed economic life to drive industrial growth. China became the largest steel producer and importer of iron ore, and any change in Chinese demand for steel products ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The rise in iron ore prices has brought profits. The coronavirus pandemic and inflation have made commodity prices very volatile, and the industry has brought more in profits...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Iron Ore Mining industry in China in 2024?
The market size of the Iron Ore Mining industry in China is $109.4bn in 2024.
How many businesses are there in the Iron Ore Mining in China industry in 2024?
There are 3,445 businesses in the Iron Ore Mining industry in China, which has declined at a CAGR of 0.6 % between 2019 and 2024.
Has the Iron Ore Mining industry in China grown or declined over the past 5 years?
The market size of the Iron Ore Mining industry in China has been declining at a CAGR of 1.7 % between 2019 and 2024.
What is the forecast growth of the Iron Ore Mining industry in China over the next 5 years?
Over the next five years, the Iron Ore Mining industry in China is expected to grow.
What does the Iron Ore Mining in China include?
Magnetite and Hematite are part of the Iron Ore Mining industry.
How competitive is the Iron Ore Mining industry in China?
The level of competition is low and steady in the Iron Ore Mining industry in China.
