Insights Into The Metal Ore Market’s Growth Potential 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The worldwide metal ore market will increase from $483.29 billion in 2022 to $535.73 billion in 2023 with a 10.9% CAGR. By 2027, it’s projected to reach $808.18 billion, growing at a 10.8% CAGR.
What will drive the metal ore market?
Abundant global metal ore reserves facilitate metal ore mining activities.
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Who are the major players in the market?
Major companies in the metal ore market include Vale S.A., Rio Tinto, BHP Group, Anglo American plc, Fortescue Metals Group Limited, Barrick Gold Corp, Newmont Corporation, Lonmin, Glencore International and AngloGold Ashanti Limited.
Which trend is gaining popularity in the metal ore market?
Mining firms are increasingly adopting cognitive computing to improve decision-making in their operations. Cognitive computing offers insights into industry trends and real-time decision-making, benefiting mining companies. Key areas include precise drilling information, equipment failure prediction, and autonomous transportation. Goldcorp uses IBM Watson to analyze drilling and geological reports, aiding geologists in making accurate, data-driven decisions. The global cognitive computing market reached $21.6 billion in 2021.
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How is the metal ore market segmented?
Global Metal Ore Market Segments Include:
- By Type: Gold Ore, Iron Ore, All Other Metal Ores, Silver Ore, Uranium Ore, Vanadium Ore
- By Organisation Size: Large Enterprises, Small And Medium Enterprises
- By Form: Sinter Fines, Lumps, Pellets, Other Forms
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global metal ore market in 2021.
The Metal Ore Global Market Report 2023 provides an overview of the metal ore market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The metal ore market forecast analyzes metal ore market size, metal ore market share, leading competitor and their market positions.
Metal ores are naturally formed rock deposits with sufficient metals or metal compounds to be mined or refined.
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