Iron Ore Mining in Canada - Industry Market Research Report

Iron grip: Potential production growth, alongside an improvement in economic conditions following the pandemic, is expected to fuel revenue growth

Iron is a primary input in steel production, and therefore, performance in the Canadian Iron Ore Mining industry is closely tied to the strength of the global economy due to the widespread use of steel globally. Trade is a significant part of the industry and global economic performance helps drive demand for the industry. Heightened demand from China alongside expansions from other major trading partners has caused considerable growth in the world price of iron ore. This has been exacerbated by soaring iron ore prices, inflating the value of industry goods. Overall, industry revenue has been rising an annualized 11.5% over the past five years and is expected to reach $10.4 billion in 2023. However, industry revenue is expected to decline 5.6% in 2023 alone due to a forecast decrease in the world price of iron ore and less demand from iron and steel manufacturing. The Iron Ore Mining industry in Canada mines iron ore and manganiferous ores valued primarily for their iron content. Companies in this industry also process ore into a concentrated or pellet form. This industry excludes blast furnace operations. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.