Product Code: GVR-4-68040-445-5
Iron Ore Market Growth & Trends:
The global iron ore market size is expected to reach USD 313.02 billion by 2030 and is anticipated to expand at a CAGR of 4.0% from 2025 to 2030, according to a new report published by Grand View Research, Inc. 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.
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