Report Update Nov 1, 2024

Norway - Iron Ores - Market Analysis, Forecast, Size, Trends and Insights

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Norway: Iron Ore Market 2021

Iron Ore Market Size in Norway

The Norwegian iron ore market fell to $X in 2019, which is down by -X% against the previous year. Overall, consumption saw a noticeable reduction. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Iron ore consumption peaked at $X in 2014; however, from 2015 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Production in Norway

In value terms, iron ore production skyrocketed to $X in 2019 estimated in export prices. Over the period under review, production continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% year-to-year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.

Iron Ore Exports

Exports from Norway

In 2019, shipments abroad of iron ores increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted moderate growth. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. Exports peaked at X tons in 2015; however, from 2016 to 2019, exports failed to regain the momentum.

In value terms, iron ore exports surged to $X in 2019. Over the period under review, exports enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Exports peaked at $X in 2012; however, from 2013 to 2019, exports failed to regain the momentum.

Exports by Country

The Netherlands (X tons) was the main destination for iron ore exports from Norway, accounting for a X% share of total exports. Moreover, iron ore exports to the Netherlands exceeded the volume sent to the second major destination, the UK (X tons), eightfold.

From 2007 to 2019, the average annual rate of growth in terms of volume to the Netherlands amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+X% per year) and Germany (-X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for iron ore exports from Norway, comprising X% of total exports. The second position in the ranking was occupied by the UK ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to the Netherlands stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+X% per year) and Germany (-X% per year).

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, with an increase of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. Over the period under review, average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced mixed trend patterns.

Iron Ore Imports

Imports into Norway

In 2019, overseas purchases of iron ores decreased by -X% to X tons, falling for the third year in a row after two years of growth. Overall, imports saw a mild reduction. The pace of growth appeared the most rapid in 2016 when imports increased by X% y-o-y. As a result, imports attained the peak of X tons. From 2017 to 2019, the growth imports remained at a lower figure.

In value terms, iron ore imports rose notably to $X in 2019. Over the period under review, imports enjoyed a moderate increase. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Russia (X tons) was the main supplier of iron ore to Norway, with a X% share of total imports. It was followed by Sweden (X tons), with a X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of volume from Russia totaled -X%.

In value terms, Russia ($X) constituted the largest supplier of iron ore to Norway, comprising X% of total imports. The second position in the ranking was occupied by Sweden ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from Russia stood at +X%.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, picking up by X% against the previous year. Over the period under review, the import price enjoyed a measured increase. The most prominent rate of growth was recorded in 2014 an increase of X% year-to-year. As a result, import price reached the peak level of $X per ton. From 2015 to 2019, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Sweden ($X per ton), while the price for Russia totaled $X per ton.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Russia.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores in the world?

China remains the largest iron ore consuming country worldwide, comprising approx. 54% of total volume. Moreover, iron ore consumption in China exceeded the figures recorded by the second-largest consumer, India, eightfold. The third position in this ranking was occupied by Australia, with a 6.1% share.

What are the largest producers of iron ores in the world?

The countries with the highest volumes of iron ore production in 2019 were Australia, Brazil and China, with a combined 70% share of global production.

What are the leading suppliers of iron ores to Norway?

In value terms, Russia constituted the largest supplier of iron ore to Norway, comprising 90% of total imports. The second position in the ranking was occupied by Sweden, with a 8.4% share of total imports.

What are the leading importers of iron ores from Norway?

In value terms, the Netherlands remains the key foreign market for iron ore exports from Norway, comprising 81% of total exports. The second position in the ranking was occupied by the UK, with a 11% share of total exports.

What is the average export price for iron ores in Norway?

The average iron ore export price stood at $59 per ton in 2019, increasing by 33% against the previous year.

What is the average import price for iron ores in Norway?

The average iron ore import price stood at $134 per ton in 2019, surging by 29% against the previous year.

This report provides an in-depth analysis of the iron ore market in Norway. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.

Product coverage:

Country coverage:

Norway

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Norway
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023