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Iron Ore Market Size, Share & Trends Analysis Report by Type (Fines, Pellets, Lumps), End-use (Steel Industry, Others), Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) with Growth Forecasts, 2025-2030- Product Image
Iron Ore Market Size, Share & Trends Analysis Report by Type (Fines, Pellets, Lumps), End-use (Steel Industry, Others), Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) with Growth Forecasts, 2025-2030- Product Image
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Iron Ore Market Size, Share & Trends Analysis Report by Type (Fines, Pellets, Lumps), End-use (Steel Industry, Others), Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) with Growth Forecasts, 2025-2030

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  • 100 Pages
  • May 2025
  • Region: Global
  • Grand View Research
  • ID: 6098066
Description Jump to:
The Iron Ore Market was valued at USD 275.23 billion in 2024, and is projected to reach USD 313.02 billion by 2030, rising at a CAGR of 4.00%. The increasing number of non-residential projects in developed countries, along with government initiatives for constructing low-cost housing units in emerging economies, are anticipated to lead to the growth of the steel market. This subsequently is expected to be the key driver for the growth of the global market for iron ore in the coming years.

The key components of the global economy, including healthcare, education, and hospitality, have been gradually receiving importance from the private and public sectors. Moreover, the growing automotive industry owing to rising disposable income, ongoing urbanization in emerging economies, and increasing electrification of vehicles is also fueling the demand for steel. This, in turn, is contributing to the rise in iron ore mining activities worldwide.

Every basic sector of the economy is a driver for the market. With increasing emphasis on green steel, producers are considering improved methods to incorporate low-carbon raw materials, including 65%, 66%, and 67.5% iron ore grades, into their production mixes.

The U.S. Department of Energy has announced an investment of USD 6 billion in 33 projects in over 20 states to decarbonize energy-intensive industries in the country. These projects are expected to be funded by the Bipartisan Infrastructure Law and Inflation Reduction Act. Such government initiatives are anticipated to surge the demand for iron and steel, thereby driving the growth of the market over the forecast period.

Iron Ore Market Report Highlights

  • In the first quarter of 2024, iron ore prices experienced a significant decline, dropping nearly 30% due to concerns over weakened demand from China, the world's largest commodity consumer.
  • The pellets segment led the market with the largest revenue share of 56.3% in 2024.
  • The steel industry is anticipated to register the highest revenue CAGR of 4.0% over the forecast period.
  • Asia-Pacific dominated the iron ore market with the largest revenue share of 70.0% in 2024
  • China held a revenue share of over 71% of the iron ore market in Asia-Pacific.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listings for you to stay ahead of the curve

Why Should You Buy This Report?

  • Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Data Analysis Models
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Global Iron Ore Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Sales Channel Analysis
3.3. Manufacturing & Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Opportunity Analysis
3.5.4. Industry Trend
3.6. Porter’s Five Forces Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of Substitution
3.6.4. Threat of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTLE Analysis
3.7.1. Political
3.7.2. Economic
3.7.3. Social Landscape
3.7.4. Technology
3.7.5. Environmental
3.7.6. Legal
Chapter 4. Iron Ore Market: Type Estimates & Trend Analysis
4.1. Iron ore Market: Type Movement Analysis, 2024 & 2030
4.2. Fines
4.2.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
4.3. Lumps
4.3.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
4.4. Pellets
4.4.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
4.5. Others
4.5.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
Chapter 5. Iron Ore Market: End Use Estimates & Trend Analysis
5.1. Iron ore Market: End Use Movement Analysis, 2024 & 2030
5.2. Steel Industry
5.2.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
5.3. Others
5.3.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
Chapter 6. Iron Ore Market: Regional Estimates & Trend Analysis
6.1. Regional Analysis, 2024 & 2030
6.2. North America
6.2.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.2.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons ) (USD Million)
6.2.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.2.4. U.S.
6.2.4.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.2.4.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.2.4.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.2.5. Canada
6.2.5.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.2.5.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.2.5.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.2.6. Mexico
6.2.6.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.2.6.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.2.6.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.3. Europe
6.3.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.3.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.3.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.3.4. Germany
6.3.4.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.3.4.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.3.4.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.3.5. France
6.3.5.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.3.5.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.3.5.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.3.6. Turkey
6.3.6.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.3.6.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.3.6.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.3.7. Russia
6.3.7.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.3.7.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.3.7.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.4.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.4.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.4.4. China
6.4.4.1. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.4.4.2. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.4.5. India
6.4.5.1. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.4.5.2. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.4.6. Japan
6.4.6.1. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.4.6.2. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.5. Latin America
6.5.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.5.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.5.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.5.4. Brazil
6.5.4.1. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.5.4.2. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts, 2018-2030 (Million Tons) (USD Million)
6.6.2. Market estimates and forecasts, by type, 2018-2030 (Million Tons) (USD Million)
6.6.3. Market estimates and forecasts, by end use, 2018-2030 (Million Tons) (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Kraljic Matrix
7.3. Company Categorization
7.4. Heat Map Analysis
7.5. Vendor Landscape
7.5.1. List of Raw Material Suppliers
7.5.2. List of Distributors
7.5.3. List of Other Prominent Manufacturers
7.5.4. List of Prospective End Users
7.6. Strategy Mapping
7.7. Company Profiles/Listing
7.7.1. Anglo American
7.7.1.1. Company Overview
7.7.1.2. Financial Performance
7.7.1.3. Type Benchmarking
7.7.2. Ansteel Group Corporation Limited
7.7.2.1. Company Overview
7.7.2.2. Financial Performance
7.7.2.3. Type Benchmarking
7.7.3. ArcelorMittal
7.7.3.1. Company Overview
7.7.3.2. Financial Performance
7.7.3.3. Type Benchmarking
7.7.4. BHP
7.7.4.1. Company Overview
7.7.4.2. Financial Performance
7.7.4.3. Type Benchmarking
7.7.5. Cleveland-Cliffs Inc.
7.7.5.1. Company Overview
7.7.5.2. Financial Performance
7.7.5.3. Type Benchmarking
7.7.6. EVRAZ plc
7.7.6.1. Company Overview
7.7.6.2. Financial Performance
7.7.6.3. Type Benchmarking
7.7.7. Fortescue Metals Group Ltd
7.7.7.1. Company Overview
7.7.7.2. Financial Performance
7.7.7.3. Type Benchmarking
7.7.8. HBIS Group
7.7.8.1. Company Overview
7.7.8.2. Financial Performance
7.7.8.3. Type Benchmarking
7.7.9. LKAB
7.7.9.1. Company Overview
7.7.9.2. Financial Performance
7.7.9.3. Type Benchmarking
7.7.10. Metalloinvest MC LLC
7.7.10.1. Company Overview
7.7.10.2. Financial Performance
7.7.10.3. Type Benchmarking
7.7.11. Rio Tinto
7.7.11.1. Company Overview
7.7.11.2. Financial Performance
7.7.11.3. Type Benchmarking
7.7.12. Vale
7.7.12.1. Company Overview
7.7.12.2. Financial Performance
7.7.12.3. Type Benchmarking
List of Tables
Table 1 Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 2 Iron ore market estimates and forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 3 Iron ore market estimates and forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 4 North America Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 5 North America Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 6 North America Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 7 U.S Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 8 U.S Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 9 U.S Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons) (Million Tons)
Table 10 Canada Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 11 Canada Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 12 Canada Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 13 Mexico Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 14 Mexico Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 15 Mexico Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 16 Europe Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 17 Europe Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 18 Europe Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 19 Germany Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 20 Germany Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 21 Germany Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 22 France Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 23 France Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 24 France Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 25 Turkey Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 26 Turkey Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 27 Turkey Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 28 Russia Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 29 Russia Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 30 Russia Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 31 Asia Pacific Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 32 Asia Pacific Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 33 Asia Pacific Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 34 China Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 35 China Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 36 China Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 37 India Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 38 India Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 39 India Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 40 Japan Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 41 Japan Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 42 Japan Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 43 Central & South Africa Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 44 Central & South Africa Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 45 Central & South Africa Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 46 Brazil Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 47 Brazil Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 48 Brazil Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
Table 49 Middle East & Africa Iron ore market estimates & forecasts, 2018-2030 (USD Million) (Million Tons)
Table 50 Middle East & Africa Iron ore market estimates & forecasts, by type, 2018-2030 (USD Million) (Million Tons)
Table 51 Middle East & Africa Iron ore market estimates & forecasts, by end use, 2018-2030 (USD Million) (Million Tons)
List of Figures
Figure 1 Market segmentation
Figure 2 Information procurement
Figure 3 Data analysis models
Figure 4 Market formulation and validation
Figure 5 Data validating & publishing
Figure 6 Market snapshot
Figure 7 Segmental outlook - Type and End Use
Figure 8 Competitive Outlook
Figure 9 Iron ore market outlook, 2018-2030 (USD M
Figure 10 Value chain analysis
Figure 11 Market dynamics
Figure 12 Porter’s Analysis
Figure 13 PESTEL Analysis
Figure 14 Iron ore market, by type: Key takeaways
Figure 15 Iron ore market, by type: Market share, 20
Figure 16 Iron ore market, by end use: Key takeaways
Figure 17 Iron ore market, by end use: Market share,
Figure 18 Iron ore market: Regional analysis, 2024
Figure 19 Iron ore market, by region: Key takeaways

Companies Mentioned

The major companies featured in this Iron Ore market report include:
  • Anglo American
  • Ansteel Group Corporation Limited
  • ArcelorMittal
  • BHP
  • Cleveland-Cliffs Inc.
  • EVRAZ plc
  • Fortescue Metals Group Ltd
  • HBIS Group
  • LKAB
  • Metalloinvest MC LLC
  • Rio Tinto
  • Vale

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