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World - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights
Report Update: May 1, 2024

World - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights

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Article Publishing Date: Dec 12, 2023

The World's Best Import Markets for Iron Ore

Iron ore is one of the most important commodities in the global economy, serving as a key raw material for the production of steel, which is used in various industries, including construction, automotive, and manufacturing. As such, the import markets for iron ore play a critical role in meeting the growing demand for this essential resource.

According to data from the IndexBox market intelligence platform, the following countries are the world's top import markets for iron ore in terms of import value:

1. China

China stands as the largest importer of iron ore, with an import value of $137.7 billion in 2022. The country's rapid industrialization and urbanization have fueled its demand for steel, making it a significant consumer of iron ore. China's steel industry relies heavily on imported iron ore to meet its production needs.

2. Japan

Japan ranks second in terms of import value of iron ore, with imports worth $13.7 billion in 2022. The country has a well-established steel industry and relies on imports to meet its iron ore requirements. Japan's high-quality steel products are widely used in automotive manufacturing and construction sectors.

3. South Korea

South Korea follows closely behind Japan, with imports of iron ore valued at $8.9 billion in 2022. The country's steel industry is a significant contributor to its economy, and, similar to Japan, it depends on imported iron ore to sustain its steel production.

4. Germany

Germany is the fourth-largest importer of iron ore, with import value reaching $5.0 billion in 2022. As Europe's largest steel producer, Germany relies on iron ore imports to meet its steel production requirements. The country's steel industry plays a vital role in supporting various sectors, including machinery, automotive, and construction.

5. Netherlands

The Netherlands ranks fifth in terms of iron ore import value, with imports worth $3.3 billion in 2022. This small but economically powerful country relies on imported iron ore to support its steel industry, which serves as a crucial component in the Netherlandsdiverse economy.

6. Taiwan (Chinese)

Taiwan holds the sixth position in the world's import market for iron ore, with imports valued at $2.8 billion in 2022. The country's strong steel industry depends on imported iron ore to meet its steel production needs, which support various sectors of Taiwan's economy, including machinery, electronics, and construction.

7. Vietnam

Vietnam is the seventh-largest importer of iron ore, with imports worth $1.9 billion in 2022. The country's steel sector has witnessed significant growth in recent years, and imported iron ore is essential for sustaining this growth and meeting domestic demand.

8. Bahrain

Bahrain also stands at the seventh position with imports worth $1.9 billion in 2022. The country's steel industry relies heavily on imported iron ore to meet its steel production needs. Bahrain's strategic location and well-developed infrastructure make it a crucial hub for iron ore imports in the Middle East.

9. Malaysia

Malaysia's import value for iron ore reached $1.7 billion in 2022, placing it at the ninth position in the global import market. The country's steel industry is growing steadily, and iron ore imports play a vital role in supporting this growth and catering to domestic demand.

10. France

France is the tenth-largest importer of iron ore, with import value totaling $1.7 billion in 2022. The country's steel industry relies on imported iron ore to meet its steel production requirements, contributing to various sectors of the French economy, including aerospace, automotive, and construction.

The import markets for iron ore play a crucial role in ensuring a stable supply of this essential raw material for steel production. While countries like China and Japan dominate the import market due to their extensive steel industries, smaller economies like the Netherlands and Bahrain also play significant roles. Understanding the dynamics of these import markets is essential for both producers and exporters of iron ore.

IndexBox market intelligence platform provides comprehensive data and insights into global import markets for iron ore, empowering businesses to make informed decisions. With its extensive database and analytical tools, the platform offers valuable market information and trend analysis to support strategic planning and market expansion.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global iron ore market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
  • Prodcom 07101010 -
  • Prodcom 07101020 -

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Vale, Rio Tinto, BHP, Fortescue Metals Group, Anglo American, Astra Resources, Eurasian Natural Resources Corporation, Exxaro, Ferrexpo, Ferrous Resources, Glencore, Great Snaefell Mining Company, IRC Limited, Ingulets Iron Ore dressing Works, Kumba Iron Ore, LKAB, Maughold Head Mining Company, Mobarakeh Steel Company, Northland Resources, Severstal, Stoilensky GOK

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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