Report Update Nov 1, 2024

Scandinavia - Iron Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Scandinavia: Iron Ore Market 2024

Iron Ore Market Size in Scandinavia

The Scandinavia iron ore market soared to $X in 2021, picking up by 59% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Iron Ore Production in Scandinavia

In value terms, iron ore production fell slightly to $X in 2021 estimated in export price. Overall, production showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 10%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Iron Ore Exports

Exports in Scandinavia

In 2021, exports of iron ores and concentrates in Scandinavia reduced to X tons, waning by -11.4% against the year before. Overall, exports showed a slight descent. The pace of growth was the most pronounced in 2020 when exports increased by 20% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron ore exports skyrocketed to $X in 2021. Over the period under review, exports, however, enjoyed slight growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden dominates exports structure, reaching X tons, which was approx. 92% of total exports in 2021. It was distantly followed by Norway (X tons), making up an 8.2% share of total exports.

Sweden experienced a relatively flat trend pattern with regard to volume of exports of iron ores and concentrates. Norway (-11.5%) illustrated a downward trend over the same period. Sweden (+17 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -13% from 2012 to 2021, respectively.

In value terms, Sweden ($X) remains the largest iron ore supplier in Scandinavia, comprising 94% of total exports. The second position in the ranking was held by Norway ($X), with a 5.5% share of total exports.

In Sweden, iron ore exports increased at an average annual rate of +3.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, with an increase of 70% against the previous year. In general, the export price posted pronounced growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.2%).

Iron Ore Imports

Imports in Scandinavia

In 2021, approx. X tons of iron ores and concentrates were imported in Scandinavia; growing by 44% against the previous year. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, iron ore imports skyrocketed to $X in 2021. Overall, imports enjoyed pronounced growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Finland dominates imports structure, finishing at X tons, which was approx. 96% of total imports in 2021. Denmark (X tons) followed a long way behind the leaders.

Imports into Finland increased at an average annual rate of +1.2% from 2012 to 2021. At the same time, Denmark (+12.1%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +12.1% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) constitutes the largest market for imported iron ores and concentrates in Scandinavia, comprising 97% of total imports. The second position in the ranking was taken by Denmark ($X), with a 0.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Finland stood at +5.1%.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, growing by 69% against the previous year. Over the period under review, the import price showed a measured increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per ton), while Denmark amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.8%).

Source: IndexBox Platform

This report provides an in-depth analysis of the iron ore market in Scandinavia. 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 2030.

Product coverage:

Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
Prodcom 07101010 -
Prodcom 07101020 -

Country coverage:

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Scandinavia, split by region and country
Trade (exports and imports) in Scandinavia
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Finland
- Norway
- Sweden
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023