Global Iron Ore Market Growth 2025-2031

The global Iron Ore market size is predicted to grow from US$ 169180 million in 2025 to US$ 144500 million in 2031; it is expected to grow at a CAGR of -2.6% from 2025 to 2031.

Iron ore is a relatively abundant metallic element (it composes about 5% of the Earth’s crust) and the main raw material used in steelmaking. Around 98% of global mined iron ore is used to make pig iron, which is an intermediate product of the steel-making process. The remaining 2% is used in several applications, such as production of cement, printing inks, plastics, cosmetics (eye shadow), artistic colors, fertilizer ingredients, and pigments. Currently, iron ore is mined in over 50 countries; however, the bulk of production comes from Australia, Brazil and China.

The global iron ore market is highly fragmented with small and large vendors. The key vendors in the market are BHP, Vale, Rio Tinto etc. The top 3 companies hold a share about 40%. Asia Pacific is the largest market, with a share about 70%, followed by South America with the share about 20%.

LP Information, Inc. (LPI) ' newest research report, the “Iron Ore Industry Forecast” looks at past sales and reviews total world Iron Ore sales in 2024, providing a comprehensive analysis by region and market sector of projected Iron Ore sales for 2025 through 2031. With Iron Ore sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Iron Ore industry.

This Insight Report provides a comprehensive analysis of the global Iron Ore landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Iron Ore portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Iron Ore market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Iron Ore and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Iron Ore.

This report presents a comprehensive overview, market shares, and growth opportunities of Iron Ore market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Sinter feed
Pellet feed
Lump
Pellet

Segmentation by Application:
Cold-rolled Sheet
Hot-Rolled Sheet
Rod and Wires
Pipes
Ingots and Semi-finished Steel
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Rio Tinto
Vale
BHP
FMG
HPPL
Anglo American
ArcelorMittal
Ansteel Mining
NMDC
Metinvest
LKAB
Metalloinvest
CSN
NLMK
MRL
CAP
Severstal
EVRAZ
Cleveland-Cliffs
Ferrexpo
SSGPO
HBIS Resources
Huaxia Jianlong
Hainan Mining
Dazhong Mining
IRC
Jinling
Hanking

Key Questions Addressed in this Report

What is the 10-year outlook for the global Iron Ore market?

What factors are driving Iron Ore market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Iron Ore market opportunities vary by end market size?

How does Iron Ore break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.