The metal ore market consists of sales of metal ores and concentrates by entities (organizations, sole traders and partnerships) that mine metallic mineral ores. The industry includes establishments developing mine sites, ore dressing, and other beneficiating operations such as crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching. The metal ore market is segmented into gold ore; iron ore; silver ore; uranium ore; vanadium ore and all other metal ores.
The global metal ore market is expected to grow from $186.65 billion in 2020 to $212.63 billion in 2021 at a compound annual growth rate (CAGR) of 13.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $258.12 billion in 2025 at a CAGR of 5%.