This dataset shows the international price for iron ore and scrap (raw materials required for steel making)

Iron ore miners have faced difficult trading conditions because of easing iron ore prices over the past few years, despite the nation maintaining its status as the world's largest iron ore supplier and benefiting from proximity to Asian markets. However, modest growth in production volumes has partly offset revenue declines. Industry revenue is expected to have sunk at an annualised 1.7% over the five years through 2024-25, to $131.5 billion. Easing iron ore prices, driven primarily by a slowdown in China's construction sector and soaring supply, are weighing on iron ore miners' revenue and export values. Despite an economic stimulus from the Chinese government aimed at its property sector, iron ore prices are poised to remain low throughout 2024-25, prompting an anticipated revenue slump of 18.0% over the year. Iron ore prices remained volatile in the first half of 2025, with sweeping US tariffs initially weakening market sentiment and pushing prices down. The following scaling back of these tariffs helped fuel a partial recovery in iron ore prices. The industry’s profitability has eroded over recent years – including an expected drop in 2024-25 – because of lower prices and soaring input costs. Australia's domestic iron ore production has grown from 911.1 million tonnes in 2019-20 to an estimated 968.7 million tonnes in 2024-25. Expansion plans and investments by prominent producers like BHP, Rio Tinto and Fortescue in projects like the South Flank, Gudai-Darri and Iron Bridge operations have fuelled this growth. Rising input expenses, attributable to inflation and labour shortages, along with weak iron ore prices, are forcing producers to undertake aggressive cost-slashing measures, prompting market leaders to undertake job cuts and maintain lean operations. Operating at a lower end of the cost curve will be crucial for Australian iron ore miners to ride out market volatility over the coming years. While Australia is on track to ramp up production to over 1.0 billion tonnes by 2026-27, iron ore prices are projected to fall over the five years through 2029-30 because of surging supply from producers in Australia and Brazil and new mines like the Simandou project. Iron ore miners' revenue is forecast to contract at an annualised 3.9% over the five years through 2029-30, to $107.8 billion. Major companies are set to continue dominating the iron ore mining sector due to several expansion projects. The industry focus will likely shift towards emerging opportunities in the green iron and steel market, spurred by initiatives like the $1.0 billion Green Iron Investment Fund.

This table contains 3 series, with data for years 1971 - 1985 (not all combinations necessarily have data for all years), and was last released on 2000-02-18. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Price index (3 items: Total; iron ore index; Iron ore; export; Iron ore; domestic ...).

Explore the factors influencing iron ore prices in China, including domestic demand from its steel industry, supply chain disruptions, global economic conditions, and market speculation. Learn about the impact of government policies and where to find live pricing updates.

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Chinese iron ore prices rise to $99/t as steel market faces challenges. Discover the factors influencing these trends and the role of government interventions.

According to Cognitive Market Research, the global Iron Ore Mining Market size is USD 191548.25 million in 2024 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2024 to 2031.

North America held the major market, accounting for more than 40% of global revenue. With a market size of USD 1086.08 million in 2024, it will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 814.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 624.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
The Latin America market will account for more than 5% of global revenue and was USD 135.76 million in 2024, growing at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.
The Middle East and Africa held the major markets, accounting for around 2% of the global revenue. The market was USD 54.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Construction held the highest Iron Ore Mining Market revenue share in 2024.

Market Dynamics of Iron Ore Mining Market

Key Drivers of Iron Ore Mining Market

Increasing Economic Growth and Industrialization

Economic growth, particularly in emerging economies like China and India, drives the demand for steel, which in turn fuels the demand for iron ore. Rapid urbanization and industrialization increase infrastructure and construction activities, boosting the need for steel products and thus stimulating iron ore mining. The steel industry is a primary consumer of iron ore. Any changes in steel production, influenced by factors such as construction projects, automotive manufacturing, and machinery production, directly impact the demand for iron ore.

Technological Advancements Opportunities To Propel Market Growth

Innovations in mining technologies enhance efficiency, reduce costs, and improve safety in iron ore extraction. Automation, remote monitoring, and data analytics play significant roles in optimizing operations, driving productivity, and increasing competitiveness in the market. Investments in infrastructure projects, including transportation networks, energy systems, and urban development, create demand for steel and, consequently, iron ore. Government initiatives aimed at infrastructure development can spur iron ore mining activities. Trade policies, tariffs, and geopolitical tensions influence the international flow of iron ore. Changes in trade agreements and tariffs imposed on steel and iron ore imports and exports can disrupt market dynamics, affecting prices and trade volumes.

Restraint Factors Of Iron Ore Mining Market

Community Opposition and Social License to Operate To Limit The Sales

Local communities often oppose mining projects due to concerns about environmental impacts, land rights, and social disruption. Conflict between mining companies and indigenous or rural communities can delay or halt operations, resulting in financial losses and reputational damage. Maintaining a social license to operate requires companies to engage with stakeholders, address grievances, and implement sustainable development initiatives, adding complexity and uncertainty to project planning and execution.

Impact of COVID-19 on the Iron Ore Mining Market

Lockdowns and restrictions imposed to contain the spread of the virus disrupted global supply chains, including those related to iron ore mining. Mining operations faced challenges such as labor shortages, logistical bottlenecks, and reduced access to essential inputs like equipment and spare parts. These disruptions led to delays in production and shipment, affecting the overall supply of iron ore to the market. The uncertainty surrounding the pandemic and its economic consequences contributed to heightened volatility in iron ore prices. Initially, demand uncertainty and concerns about steel production led to price declines. However, as economic activity resumed and stimulus measures were implemented, demand for steel rebounded, driving iron ore prices to record highs. Fluctuations in prices created challenges for both producers and consumers in managing their operations and financial planning. Introduction of the Iron Ore Mining Market

Iron ore mining is the process of extracting iron...

The Iron Ore Marketsize was valued at USD 279.35 Kiloton in 2023 and is projected to reach USD 372.58 Kiloton by 2032, exhibiting a CAGR of 4.2 % during the forecast period. Recent developments include: October 2023: Rio Tinto announced plans to increase its Gudai-Darri iron ore mine production capacity to 50 million tons per year. The capacity increase would be achieved through upgrades, including improvements to conveyor belts and chutes, as well as utilization of an existing crushing and screening facility on site., February 2023: Fortescue Metals Group Ltd., through its incorporated joint venture company Ivindo Iron SA (Ivindo Iron), signed the Mining Convention for the Belinga Iron Ore Project (Belinga Project) in Gabon with the Gabonese Republic. This agreement opened growth opportunities for Fortescue Metals and Fortescue Future Industries (FFI) throughout Africa., June 2022: Rio Tinto and the Salzgitter Group signed an MOU (Memorandum of Understanding) to work together toward carbon-free steelmaking. They are studying the optimization of Rio Tinto’s high-quality Australian and Canadian iron ore products for use in Salzgitter’s SALCOS green steel project in Germany. Under the MOU, the company would explore the potential for iron ore pellets, fines, and lumps in hydrogen direct reduction steelmaking. The two companies also explored the potential for greenhouse gas emission certification across the steel value chain.. Key drivers for this market are: Global Urbanization and Industrialization to Encourage Market Growth. Potential restraints include: Technological Shifts and Availability of Alternative Methods to Hamper Market Growth . Notable trends are: Growing Government Infrastructure Projects in Developing Regions to Provide Beneficial Market Opportunities.

According to Cognitive Market Research, the global Magnetite Iron Ore market size was USD 89514.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 35805.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 26854.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 20588.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4475.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1790.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
The magnetite category is the fastest growing segment of the Magnetite Iron Ore industry

Market Dynamics of Magnetite Iron Ore Market

Key Drivers for Magnetite Iron Ore Market

Growing Urbanization and Industrialization to Boost Market Growth

Steel manufacture uses magnetite as a raw material. Global demand for steel has increased due to the fast growth of both industrialization and urbanization. With a high iron concentration of up to 70%, magnetite iron ore is a fine iron ore that is sought after for use in the making of steel. A number of industries have experienced tremendous expansion recently, including manufacturing, construction, and the automobile sector. The market for magnetite iron ore has been adversely affected by this. Important technology advancements in the mining industry have also accelerated the shift to automation and spawned new technological advancements. This has improved efficiency in the mining sector and the market for magnetite iron ore while lowering labor costs.

Increasing Requirement for High-Grade Iron Ore to Drive Market Growth

There are growing prospects for expansion because of the increasing demand from steel producers for high-grade iron ore. Phosphorus, silica, and other impurities are present in small amounts in magnetite iron ore, but iron content is high. Due to its minimal greenhouse gas emissions, using high-grade iron ore lessens its impact on the environment. This aids producers in meeting air quality standards and lessening their carbon footprint in accordance with government laws. By employing cutting-edge land rehabilitation strategies, low-impact mining methods, and recycling mining waste, mining operations have a smaller negative environmental impact. Enterprises have the chance to employ electric-powered machinery to lower their carbon emissions and adopt an environmentally sustainable approach.

Restraint Factor for the Magnetite Iron Ore Market

High Price of Iron Ore Will Limit Market Growth

The price of iron ore internationally varies due to a number of factors, including disruptions in supply, changes in geopolitical situations, and variations in demand. These factors impact the cost of raw materials for the magnetite iron ore market. In the magnetite iron ore market, volatile prices discourage investment and have an adverse effect on profitability. Governments are enacting laws to incentivize companies to reduce their greenhouse gas emissions. In order to abide by these strict restrictions, which have an effect on their profit margins and restrict their expansion, businesses must invest in energy-efficient and renewable technologies.

Energy-Intensive Processing Requirements

One major restraint in the magnetite iron ore market is the high energy consumption required for processing magnetite into usable iron ore concentrates. Unlike hematite, magnetite has a lower iron content in its natural form and typically requires extensive beneficiation processes such as grinding, magnetic separation, and concentration. These processes are energy-intensive and result in higher operational costs and environmental impact, particularly in regions where electricity or fuel costs are high or where sustainability regulations are strict. This can discourage...

The global iron ore metals market, valued at $158,480 million in 2025, is poised for significant growth. While the exact CAGR isn't provided, considering the substantial demand driven by the steel and chemical industries, a conservative estimate of a 5% CAGR over the forecast period (2025-2033) is reasonable. This growth is fueled by the burgeoning construction sector globally, particularly in developing economies experiencing rapid urbanization and infrastructure development. Increased steel production, a primary application of iron ore, directly correlates with market expansion. Technological advancements in mining and processing techniques, improving efficiency and yield, further contribute to the market's positive trajectory. However, price volatility in the commodity market, fluctuating energy costs, and the environmental concerns related to mining activities pose potential restraints. The market is segmented by type (hematite, magnetite, others) and application (steel, chemical industry, others), with the steel industry dominating consumption. Leading players like Vale SA, Rio Tinto, and BHP Billiton significantly influence market dynamics through their production capabilities and global reach. Regional analysis shows a strong presence in Asia-Pacific, driven by China and India’s robust industrial growth, while North America and Europe also contribute significantly. The market's future depends on several factors. Sustained growth in infrastructure projects across the globe, coupled with government initiatives promoting industrialization in developing nations, will support demand. However, efforts toward sustainable mining practices and the implementation of environmentally friendly technologies are crucial to mitigating the environmental impact and ensuring long-term market stability. The increasing adoption of electric arc furnaces (EAF) in steel production, while potentially impacting iron ore demand in the long term, may be offset by growth in other applications like the chemical industry. Strategic partnerships, mergers, and acquisitions among key players could reshape the competitive landscape in the coming years. Continuous innovation in mining technologies and efficient resource management will be key determinants of future market performance. Therefore, a balanced approach focusing on both growth and sustainability will be critical for the continued success of the iron ore metals market.

Question 1.2.2a: Does the government publicly disclose data on the value of extractive resource exports?, 1.2.2c: Is the data disclosed on the value of extractive resource exports machine-readable?, 1.2.2b: How up-to-date is the publicly disclosed data on the value of extractive resource exports?

The ore from historic iron mines of the eastern Adirondack Highlands, New York, contain abundant quantities of rare earth element (REE)-bearing apatite crystals. These apatite crystals are especially enriched in Y, La, Ce, and Nd. In-ground ore, mine waste piles, and tailings piles that are associated with these mines could contain apatite and other REE-bearing phases at elevated concentrations indicating potential as REE resources. This is the first geochemical database for a regional subset of ore and mine waste products for these mines. Thirty-four ore, twenty-nine mine waste, seven host rock, two pegmatite, and one slag sample were collected from these iron oxide-apatite (IOA) mines in the eastern Adirondack Highlands near Mineville and Ticonderoga, New York. The waste pile samples included 25 samples collected from rubble-sized mine waste piles and four samples from processed tailings piles. Waste pile sampling was accomplished by adapting the sampling strategy outlined by Smith and others (2000, 2006), which included collecting 30 to 50 evenly distributed aliquots (subsamples) from across each waste pile that were composited to form a representative composite sample for the pile. The resulting samples ranged from 12.75 to 32.50 pounds (5.78 to 14.74 kilograms) of material, which were crushed, homogenized, and split prior to geochemical analysis. Major elements were analyzed by wavelength dispersive x-ray fluorescence (WDXRF) and 60-element analyses was completed by inductively coupled plasma-optical emission spectroscopy-mass spectroscopy (ICP-OES-MS). Ore samples were preferably collected in situ from the ore seams, but clasts were collected from waste piles if the ore seam was inaccessible. A wide range in chemical values exists for the ore and waste pile samples. Total REE (lanthanides plus yttrium) varies from 11 to greater than 22,000 parts per million (ppm) for waste piles and 15 to greater than 47,000 ppm for ore samples. All waste pile samples have light REE greater than heavy REE content, with light REE/heavy REE ratio ranging from 1.43 to 35.30, with a median value of 2.14. Ore samples with the highest total REE content have larger negative Eu anomalies, and samples with lower total REE have diminished negative Eu anomalies and more notable negative Ce anomalies. A positive correlation for all samples exists between REE and Th, indicating the potential for radiometric surveys as a tool for vectoring toward higher grade resources. The elevated REE found in some of these waste piles and ore samples is similar to or higher than grades found in some rare earth mines and advanced exploration projects. However, targeted selection of specific mines and waste piles would be required due to the large range in REE values found in the Adirondack IOA deposits. References: Smith, K.S., Ramsey, C.A., and Hageman, P.L., 2000, Sampling strategy for the rapid screening of mine-waste dumps on abandoned mine lands, in ICARD 2000—Proceedings from the Fifth International Conference on Acid Rock Drainage, Denver, Colorado, May 21-24, 2000: Society of Mining, Metallurgy, and Exploration, Inc., p. 1453–1461. Smith, K.S., Hageman, P.L., Ramsey, C.A., Wildeman, T.R., and Ranville, J.F., 2006, Reconnaissance sampling and characterization of mine-waste material, in Proceedings of the US Environmental Protection Agency Hard Rock Mining 2006 Conference, Tucson, Arizona, November 14-16, 2006, p. 1–14.

No new work was carried out on the subject Stony Hill licence area during its past year. The South Australian Iron Ore Group Pty Ltd (SAIOG) has held this tenement (successively under ELs 3287/4451/5617) since 2/12/2004, but has now surrendered... No new work was carried out on the subject Stony Hill licence area during its past year. The South Australian Iron Ore Group Pty Ltd (SAIOG) has held this tenement (successively under ELs 3287/4451/5617) since 2/12/2004, but has now surrendered it in full. The ‘iron ore rights’ for exploration done on the tenement have been held by Centrex Metals Ltd, while ‘other mineral rights’ have been held by Lincoln Minerals Limited. Since 2007, this tenement, along with other tenements within the western Middleback Range and the central Eyre Peninsula, has formed part of a Combined Reporting Group for the purposes of the Northern Amalgamated Expenditure Arrangement made with PIRSA. In brief, the total prior exploration conducted on this area has included: • In November 2005, an airborne magnetic and radiometric survey of 1635 line km • In 2007, an airborne magnetic and radiometric survey of 401 line km flown over the remaining southern portion of the tenement • In 2008, exploratory RC drilling of 24 holes for 2769 m, targeting iron ore • In 2008, surface geochemical sampling of calcrete • In 2009, geological mapping and rock chip sampling. In its iron ore exploration, Centrex focussed on the potential for DSO haematite, with a secondary consideration being magnetite and haematite BIF. Although the tenement area contains small amounts, in relative terms, of magnetite/haematite BIF, plus potentially significant amounts of low grade/marginal magnetite-rich granite, it is now believed that any future discovery of DSO iron ore will likely require significant exploration expenditure. The current economic climate is not favourable for iron ore, and Centrex believes that an improvement in the iron ore price to a level which might justify making such significant exploration expenditure is many years away. For this reason, the joint venture partners have decided to surrender the tenement in full.

Within its sector the pig iron industry needs to be differentiated economically especially from the streel industry because there is much interdependence on an operational level. After the systematical list of goods for the contemporary industry statistics (edition 1970, Stuttgart und Mainz, S. 37 f.) the furnace industry (synonymous term for pig iron industry) is responsible for the production of pig iron and ferroalloys but not for the production of pig steel. This definition is based on metallurgic and technological reasons. Pig iron is an intermediate product in the transformation process between iron ore and roll steel. Pig iron itself cannot be rolled or forges therefor it is not a usable product in the terms of the steel industry. Another important differentiation needs to be made in contrast to the sector of foundries; this distinction is not that easy. In terms of metallurgy pig iron is not an entirely new product after repeated fusing and shedding in casting molds. But again an economic distinction can be made: pig iron is an intermediate product which is an economically usable finished product only after fusing. The pig iron industry can therefore be defined as an industry which produces pure primary products for foundries and steelworks. The geographical survey area is the German customs territory which basically includes the German Reich and the grand duchy of Luxemburg. Concerning the temporal differentiation there is a field of tension between political and economic history. 1871 was the year if the foundation of the Reich but economically this is no special date. A more sensible start from an economic point of view would be 1873 as a peak in industrial expansion. But 1871 is a very commonly used date for starting an investigation period of the German Reich. So for pragmatic reason we use 1871 as the starting year.The study is subdivided into two main topics. In the first part the growth of pig iron industry is decomposed in its components and explained in an inter-sectoral way using a neoclassical production model of growth. The necessary inter-sectoral analysis of this growth is undertaken in the second part of the study. Register of tables in HISTAT: 01 Trade union density of pig iron workers 1907-191302 Development of pig iron production in tons03 Number of factories and production per factory in tons.04 Use of iron ore, slag and scrap metal in tons 05 Use of limestones and other aggregates in tons 06 Comparison of consumption between charcoal and coke in melting a ton of pig iron 1881-189607 Coke consumption per ton of pig iron in the four different governmental districts of the Rhine province, 1871-190908 Coke consumption per ton of pig iron in chosen governmental districts of Hanover Province, 1871-190509 Coke consumption per ton of pig iron in the governmental district Oppeln 10 Coke consumption of three Prussian provinces and in the customs territory per ton of pig iron 11 Use of coke in tons12 Use of railway transport services in million ton kilometers 13 Labor input 14 Development of labor productivity and capital intensity 15 Furnace statistics 16 Capital Stock (= capacity in 1000 tons).17 Value of production in 1000 Mark.18 Development of the German average prices for 1 ton of pig iron 19 Development of German average prices of iron ore for 1 ton of ore 20 Costs of ore in 1000 Mark21 Development of German lime prices for 1 ton of limestone 22 Surcharge costs in 1000 Mark23 Development of German coke prices (Dortmund-Essener exchange trade price for 1 ton of furnace coke)24 Costs of energy in 1000 Mark25 Material transport costs per ton of iron pig in Mark 26 Costs of transport in 1000 Mark27 Average yearly wages of furnace workers in the Rhineland and Westphalia in Mark28 Average yearly wages of furnace workers in the government district of Oppeln in Mark29 Average yearly per capita income in of employees in the pig iron industry in Mark 30 Wage costs in 1000 Mark31Development of raw profit in 1000 Mark32 Development of per-unit profit 33 Cost structure of the pig iron industry in 1000 Mark absolute values and relative to the value of production 34 Development of total factor productivity 40 Share of the value of the pig iron industry of the GDP in market prices of 1913, absolute in million Mark and in percent.41 Share of employees in the pig iron industry of the total number of employees in percent.42 Pig iron production by types in tons 54 Most important competition prices for German foundry pig iron in Mark per ton 1866-191355 Most important competition prices for German steel pig iron in Mark per ton 1887-1913

Within its sector the pig iron industry needs to be differentiated economically especially from the streel industry because there is much interdependence on an operational level. After the systematical list of goods for the contemporary industry statistics (edition 1970, Stuttgart und Mainz, S. 37 f.) the furnace industry (synonymous term for pig iron industry) is responsible for the production of pig iron and ferroalloys but not for the production of pig steel. This definition is based on metallurgic and technological reasons. Pig iron is an intermediate product in the transformation process between iron ore and roll steel. Pig iron itself cannot be rolled or forges therefor it is not a usable product in the terms of the steel industry. Another important differentiation needs to be made in contrast to the sector of foundries; this distinction is not that easy. In terms of metallurgy pig iron is not an entirely new product after repeated fusing and shedding in casting molds. But again an economic distinction can be made: pig iron is an intermediate product which is an economically usable finished product only after fusing. The pig iron industry can therefore be defined as an industry which produces pure primary products for foundries and steelworks. The geographical survey area is the German customs territory which basically includes the German Reich and the grand duchy of Luxemburg. Concerning the temporal differentiation there is a field of tension between political and economic history. 1871 was the year if the foundation of the Reich but economically this is no special date. A more sensible start from an economic point of view would be 1873 as a peak in industrial expansion. But 1871 is a very commonly used date for starting an investigation period of the German Reich. So for pragmatic reason we use 1871 as the starting year. The study is subdivided into two main topics. In the first part the growth of pig iron industry is decomposed in its components and explained in an inter-sectoral way using a neoclassical production model of growth. The necessary inter-sectoral analysis of this growth is undertaken in the second part of the study.

Register of tables in HISTAT:

01 Trade union density of pig iron workers 1907-1913 02 Development of pig iron production in tons 03 Number of factories and production per factory in tons. 04 Use of iron ore, slag and scrap metal in tons 05 Use of limestones and other aggregates in tons
06 Comparison of consumption between charcoal and coke in melting a ton of pig iron 1881-1896 07 Coke consumption per ton of pig iron in the four different governmental districts of the Rhine province, 1871-1909 08 Coke consumption per ton of pig iron in chosen governmental districts of Hanover Province, 1871-1905 09 Coke consumption per ton of pig iron in the governmental district Oppeln 10 Coke consumption of three Prussian provinces and in the customs territory per ton of pig iron 11 Use of coke in tons 12 Use of railway transport services in million ton kilometers 13 Labor input 14 Development of labor productivity and capital intensity 15 Furnace statistics 16 Capital Stock (= capacity in 1000 tons). 17 Value of production in 1000 Mark. 18 Development of the German average prices for 1 ton of pig iron 19 Development of German average prices of iron ore for 1 ton of ore 20 Costs of ore in 1000 Mark 21 Development of German lime prices for 1 ton of limestone 22 Surcharge costs in 1000 Mark 23 Development of German coke prices (Dortmund-Essener exchange trade price for 1 ton of furnace coke) 24 Costs of energy in 1000 Mark 25 Material transport costs per ton of iron pig in Mark 26 Costs of transport in 1000 Mark 27 Average yearly wages of furnace workers in the Rhineland and Westphalia in Mark 28 Average yearly wages of furnace workers in the government district of Oppeln in Mark 29 Average yearly per capita income in of employees in the pig iron industry in Mark 30 Wage costs in 1000 Mark 31Development of raw profit in 1000 Mark 32 Development of per-unit profit 33 Cost structure of the pig iron industry in 1000 Mark absolute values and relative to the value of production 34 Development of total factor productivity 40 Share of the value of the pig iron industry of the GDP in market prices of 1913, absolute in million Mark and in percent. 41 Share of employees in the pig iron industry of the total number of employees in percent. 42 Pig iron production by types in tons 54 ...

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Jerrycans Market Size 2024-2028

The jerrycans market size is forecast to increase by USD 586.3 million, at a CAGR of 4.93% between 2023 and 2028. The market's expansion hinges on various factors, including heightened demand for jerrycans across end-user industries, particularly in lubricant packaging, driven by the surge in camping and outdoor activities that are bolstering the need for jerrycans. This growth is indicative of the versatile applications and widespread utility of jerrycans across different sectors. The increasing emphasis on storage and transportation solutions further contributes to the market's upward trajectory. These trends underscore the critical role that jerrycans play in meeting the packaging and storage needs of various liquids, fuels, and chemicals, highlighting their significance in diverse industrial and recreational settings. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market is driven by the increasing demand for plastic jerry cans with odorless features and moisture resistance. Revamping jerrycans to be lightweight yet durable is a key trend, especially in industries like food and beverages, agrochemicals, and automotive. Challenges include maintaining leakage prevention and odorless storage while ensuring durability comparable to metal cans. Addressing these challenges while meeting evolving industry standards and regulations remains crucial for sustained growth in the market. The beverage can market represents a significant segment of the global packaging industry, with an estimated value of over USD 30 billion in annual revenues. Our researchers analyzed the data with 2023 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Growing demand for jerrycans in lubricant packaging is one of the key factors driving the growth of the market. Packaging solutions such as drums, drums, IBCs, jerrycans, and bottles are widely used for the packaging of automotive, industrial, marine, and aviation lubricants. Jerrycans offers a reliable, leak-free option for lubricant storage and transportation. Their sturdy construction ensures that the lubricant is well-contained, preventing spills and leaks during handling and transportation.

Moreover, lubricants can be corrosive and potentially harmful to some materials. Jerrycans are usually made from high-quality materials such as HDPE (High-Density Polyethylene) or metal, which resists corrosion and damage caused by lubricants, ensuring product integrity. Owing to these factors, demand for jerrycans for lubricant packaging remains strong, and manufacturers continue to consider them the preferred packaging solution in the lubricant industry. This will drive the growth of the global market during the forecast period.

Significant Market Trends

Increased focus on lightweight packaging is one of the primary trends that is shaping the growth of the market. Market players are emphasizing the process of redesigning jerrycans to reduce weight without compromising on quality. As a result, suppliers are constantly exploring opportunities by developing innovative, lightweight, and convenient jerry cans for customers. Lightweight is one of the ways the end-user industry is aiming to reduce packaging costs and improve the overall sustainability of production.

Moreover, the improved durability and increased profitability of using lightweight jerrycans are driving suppliers to reduce the weight of metal cans. This drives the demand for lightweight plastic jerry cans, driving the market growth during the forecast period.

Major Market Challenge

Volatility in raw material prices is a challenge that affects the growth of the market. Raw material price fluctuations have a direct proportional impact on the cost of producing jerrycans. As a result, sellers face uncertainty about their profit margins. To avoid such risks, they often choose long-term contracts with raw material suppliers, which reduces their bargaining power. Steel, the raw material used to make jerrycans, is mined from iron ore. So, any fluctuations in iron ore prices will directly impact steel prices. In addition, supply and demand and government policy also determine the price of steel.

Moreover, the impact of a 25% tariff on steel imported into the US against the import of cheap steel from China has increased the price of steel in the US. The volatile increase in crude oil prices has affected the price of polymer resins. Since polymer resins are widely used to make hard plastic jerrycans, volatility in crude oil prices has increased uncert

The global long steel rolling mill market is experiencing robust growth, driven by a surge in infrastructure development, particularly in emerging economies. The construction sector, a major consumer of long steel products like rebar and wire rod, is a key driver, fueled by increasing urbanization and investments in large-scale projects. Furthermore, the machinery manufacturing and transportation industries contribute significantly to demand, requiring long steel for components and infrastructure. While the energy sector shows consistent demand, its growth is somewhat slower compared to the others. The market is segmented by application (Construction, Machinery Manufacturing, Transportation, Energy, Others) and type of mill (Bar Mills, Wire Rod Mills, Profile Mills), each segment demonstrating unique growth trajectories. Bar mills currently hold the largest market share due to the high demand for rebar in construction. However, profile mills are projected to experience faster growth driven by specialized applications in automotive and other high-precision industries. Competition in the long steel rolling mill market is intense, with major players such as SMS Group, Primetals Technologies, and Danieli Group holding significant market share. These established companies are focusing on technological advancements, such as automation and improved energy efficiency, to gain a competitive edge. Smaller, regional players, like Preet Machines and Atlas Rolling Mill, are also contributing significantly, often catering to specific niche markets or regional demands. Despite strong growth, market expansion faces potential restraints, including fluctuating raw material prices (iron ore, scrap steel), and global economic uncertainties. Government regulations regarding emissions and environmental sustainability are also influencing manufacturers to invest in cleaner technologies and more efficient production processes. The market is projected to maintain a healthy CAGR through 2033, with continued expansion fueled by infrastructure spending and technological advancements. Regional growth will vary, with Asia-Pacific expected to lead due to its massive construction activities and industrial growth.

Over the five years through 2025-26, iron and steel manufacturing revenue is expected to climb at a compound annual rate of 1.9% to £7.7 billion. Heaps of cheap steel on the global market have undercut British prices and caused big trade partners like the EU to institute import quotas. Unable to lower prices because of high labour costs and environmental charges, industry giants like British Steel and Tata Steel have stated a need for government intervention to continue operating. Both companies are also moving away from blast furnace operations to invest in greener electric arc furnaces, marking a complete industry shift. Tata Steel closed its Port Talbot site in September 2024, marking the end of traditional steelmaking in Wales and the switch to its electric arc furnace, which is set to begin operations in 2028. British Steel is also planning to switch to electric arc furnace production. However, talks over support from the British Government remain stalled. Besides this structural transition, the industry has been wracked by volatility in recent years. Metal prices dropped during 2020-21 as the COVID-19 pandemic slashed downstream demand for iron and steel. However, as manufacturing and construction activity started recovering in 2021-22, iron and steel prices soared as production failed to keep up, causing a global undersupply of steel. This massively raised revenue in 2021-22, driving up profitability. Steel prices started to dip again in 2022-23, bringing down iron and steel manufacturers’ revenue. In 2025-26, revenue is set to drop by 8.5% owing to a slump in downstream investment, resulting from the 2024 Autumn Budget denting business confidence. This will coincide with iron and steel prices continuing to stave off. Profit is expected to remain flat as iron ore, carbon and energy prices continue to normalise, reducing manufacturers’ costs. However, higher wage costs and subdued demand for iron and steel keep profitability low, sitting at 1.6% in 2025-26. Over the five years through 2030-31, revenue is forecast to climb at a compound annual rate of 0.6% to £7.9 billion. While UK steel manufacturers no longer face tariffs in the EU, US tariffs and import quotas remain uncertain, causing significant harm. Despite UK quotas, competition from imports will prevail, especially as China’s manufacturing rebounds. Reduced production from British Steel and Tata Steel, as both companies switch to electric arc furnace production, will also hinder revenue growth until 2028-29.

The global steel for construction market is experiencing robust growth, driven by the burgeoning infrastructure development across emerging economies and the ongoing global urbanization trend. While precise market size figures aren't provided, considering typical CAGR rates for the construction steel sector (let's assume a conservative 5% for illustrative purposes) and a base year of 2025, we can reasonably estimate the market size to be in the hundreds of billions of dollars. For instance, if we posit a 2025 market size of $300 billion, a 5% CAGR would project a market value exceeding $390 billion by 2033. Key drivers include substantial investments in residential and commercial construction projects, rising demand for durable and high-strength steel, and government initiatives promoting infrastructure development globally. However, fluctuating raw material prices (iron ore, coal), environmental regulations concerning steel production's carbon footprint, and potential economic downturns represent significant restraints. Segmentation within the market includes various steel grades (e.g., rebar, structural steel, sheet piles), end-use applications (e.g., buildings, bridges, roads), and geographical regions. The market is highly competitive, with major players like ArcelorMittal, Nippon Steel, and Baowu Steel Group dominating global production and sales. Regional disparities exist, with robust growth anticipated in Asia-Pacific and other developing regions due to rapid infrastructure expansion. The competitive landscape is further shaped by advancements in steel production technologies, aiming to enhance efficiency and reduce environmental impact. Companies are increasingly investing in research and development to create sustainable steel alternatives and improve product quality. This continuous innovation contributes to the sector's growth trajectory. The steel for construction market is expected to witness consolidation among players, driven by mergers and acquisitions. Moreover, strategic partnerships focused on sustainable production and supply chain efficiency are likely to become increasingly significant in the coming years. The market shows a promising outlook, driven by increasing construction activity and technological advancements, despite facing challenges related to sustainability and economic volatility.