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

This article provides a comprehensive analysis of the Asian iron ore and concentrates market in 2024, with forecasts extending to 2035. Driven by demand in Asia, the market volume is projected to grow at a CAGR of +0.6%, reaching 1,826 million tons by 2035, while the market value is forecast to increase at a CAGR of +3.3%, reaching $220.9 billion. In 2024, consumption stood at 1,718 million tons, led overwhelmingly by China (73% share), with Japan and India as distant followers. Asia's domestic production was significantly lower at 344 million tons, leading to heavy reliance on imports, which reached 1,513 million tons, with China constituting 82% of total imports. Exports from Asia were 140 million tons, with India, China, and Malaysia as the largest suppliers. The analysis covers detailed breakdowns by country, product type (agglomerated vs. non-agglomerated), and price trends for both imports and exports.