Mexico Iron Ore Pellets Market Size & Outlook, 2023-2030
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Mexico iron ore pellets market highlights
- The Mexico iron ore pellets market generated a revenue of USD 743.2 million in 2023 and is expected to reach USD 1,076.4 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.4% from 2024 to 2030.
- In terms of segment, dr pellet was the largest revenue generating product in 2023.
- BF Pellet is the most lucrative product segment registering the fastest growth during the forecast period.
Iron ore pellets market data book summary
| Market revenue in 2023 | USD 743.2 million |
| Market revenue in 2030 | USD 1,076.4 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Dr pellet |
| Fastest growing segment | BF Pellet |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BF Pellet, DR Pellet |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Cleveland-Cliffs Inc, Ferrexpo PLC, Rio Tinto PLC ADR, Vale SA ADR, Tata Steel Ltd GDR - 144A |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.3% of the global iron ore pellets market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. iron ore pellets market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 1,076.4 million by 2030.
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Iron Ore Pellets Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ferrexpo PLC | View profile | 8000 | 55 St. James’s Street, London, United Kingdom, SW1A 1LA | https://www.ferrexpo.com |
| Rio Tinto PLC ADR | View profile | 57174 | 6 St James’s Square, London, United Kingdom, SW1Y 4AD | https://www.riotinto.com |
| Vale SA ADR | View profile | 66807 | Praia de Botafogo, 186, Salas 501 a 1901, Botafogo, Rio de Janeiro, RJ, Brazil, 22250-145 | https://www.vale.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 |
| Tata Steel Ltd GDR - 144A | View profile | 73496 | 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 | https://www.tatasteel.com |
Mexico iron ore pellets 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 pellets market will help companies and investors design strategic landscapes.
Dr pellet was the largest segment with a revenue share of 58.93% in 2023. Horizon Databook has segmented the Mexico iron ore pellets market based on bf pellet, dr pellet covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico’s GDP is likely to observe a growth rate of 3.2% in 2023, this was mainly due to resilient domestic demand and greater economic performance. Rebound in construction and public investment are assisting the market growth, while consumption is expected to remain robust despite rising inflation.
High inflation remains a significant concern which is around 8.5% as of November 2023, as reported by World Economics. Despite the challenges, the steel industry in Mexico demonstrated strong resilience in 2023.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico iron ore pellets market , including forecasts for subscribers. This country databook contains high-level insights into Mexico iron ore pellets market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Mexico Trade - Iron Ore Pellets Market size, 2023 - 2030 (US$M)
Mexico Iron Ore Pellets Market Outlook Share, 2023 & 2030 (US$M)
Mexico Trade - Iron Ore Pellets Market size, 2023 - 2030 (US$M)
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