Latin America Iron Ore Market Size & Outlook, 2025-2030

The iron ore market in Latin America is expected to reach a projected revenue of US$ 22,026.1 million by 2030. A compound annual growth rate of 3.3% is expected of Latin America iron ore market from 2025 to 2030.
Revenue, 2024 (US$M)
$19,449.7
Forecast, 2030 (US$M)
$22,026.1
CAGR, 2025 - 2030
3.3%
Report Coverage
Latin America

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Latin America iron ore market, 2018-2030 (US$M)

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Latin America iron ore market highlights

  • The Latin America iron ore market generated a revenue of USD 19,449.7 million in 2024.
  • The market is expected to grow at a CAGR of 3.3% from 2025 to 2030.
  • In terms of segment, pellets was the largest revenue generating type in 2024.
  • Lumps is the most lucrative type segment registering the fastest growth during the forecast period.
  • Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2030.

Latin America data book summary

Market revenue in 2024USD 19,449.7 million
Market revenue in 2030USD 22,026.1 million
Growth rate3.3% (CAGR from 2025 to 2030)
Largest segmentPellets
Fastest growing segmentLumps
Historical data covered2018 - 2023
Base year for estimation2024
Forecast period covered2025 - 2030
Quantitative unitsRevenue in USD million
Market segmentationFines, Lumps, Pellets
Key market players worldwideAnglo American PLC, Ansteel, ArcelorMittal SA Depository Receipt, BHP Group Ltd, Cleveland-Cliffs Inc, EVRAZ Group, Fortescue Metals, HBIS, LKAB, Metalloinvest, Rio Tinto PLC ADR, Vale

Other key industry trends

  • In terms of revenue, Latin America region accounted for 7.1% of the global iron ore market in 2024.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • MEA is the fastest growing regional market and is projected to reach USD 17,544.1 million by 2030.

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Iron Ore Market Scope

Iron Ore Market Companies

Name Profile # Employees HQ Website
LKAB View profile 5001-10000 Luleå, Norrbottens Lan, Sweden, Europe http://www.lkab.com
Fortescue Metals View profile 1001-5000 East Perth, Western Australia, Australia, Oceania http://www.fmgl.com.au
EVRAZ Group View profile 10001+ London, England, United Kingdom, Europe https://www.evraz.com
Ansteel View profile - Anshan, Liaoning, China, Asia http://www.ansteel.cn
Vale View profile 10001+ Rio De Janeiro, Rio de Janeiro, Brazil, South America http://www.vale.com
Metalloinvest View profile 501-1000 Moscow, Moscow City, Russian Federation, Europe https://metalloinvest.com
BHP Group Ltd View profile 42319 171 Collins Street, Level 18, Melbourne, VIC, Australia, 3000 https://www.bhp.com
Anglo American PLC View profile 58000 17 Charterhouse Street, London, United Kingdom, EC1N 6RA https://www.angloamerican.com
HBIS View profile 51-100 Waxahachie, Texas, United States, North America https://www.hbisonline.com
Rio Tinto PLC ADR View profile 57174 6 St James’s Square, London, United Kingdom, SW1Y 4AD https://www.riotinto.com
Cleveland-Cliffs Inc View profile 28000 200 Public Square, Suite 3300, Cleveland, OH, United States, 44114-2315 https://www.clevelandcliffs.com
ArcelorMittal SA Depository Receipt View profile 126756 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 http://www.arcelormittal.com

Latin America iron ore market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to iron ore market will help companies and investors design strategic landscapes.


Pellets was the largest segment with a revenue share of 53.65% in 2024. Horizon Databook has segmented the Latin America iron ore market based on fines, lumps, pellets covering the revenue growth of each sub-segment from 2018 to 2030.


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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America iron ore market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America iron ore market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Latin America iron ore market size, by country, 2018-2030 (US$M)

Latin America Iron Ore Market Outlook Share, 2024 & 2030 (US$M)

Latin America iron ore market size, by country, 2018-2030 (US$M)

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