India Iron Ore Market Size, Demand, Price & Outlook 2033

India Iron Ore Market Size, Share, Trends and Forecast by Type, End Use, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A30399

Buy Now Discount
Offer

India Iron Ore Market Overview:

The India iron ore market size reached USD 9.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 12.3 Billion by 2033, exhibiting a growth rate (CAGR) of 2.62% during 2025-2033. The market is fueled by growing domestic steel production, expanding infrastructure projects, and strong export demand, especially from China, while government policies, new reserve auctions, and enhanced logistics support supply, with environmental regulations and price fluctuations shaping market dynamics.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 9.7 Billion
Market Forecast in 2033	USD 12.3 Billion
Market Growth Rate (2025-2033)	2.62%

India Iron Ore Market Trends:

Rising Domestic Demand from Steel Sector

India's expanding steel industry remains a key driver for iron ore demand, fueled by government-led infrastructure projects, urbanization, and industrial growth. The National Steel Policy aims for 300 million tonnes of steel production by 2030, significantly increasing the need for high-grade iron ore. Large steel producers are expanding capacity, which results in higher domestic raw material procurement. Also, policies like "Make in India" and the Production Linked Incentive (PLI) scheme induce production of steel, strengthening iron ore consumption. Supply chain efficiency and policy change in the mining sector also aid in the growth of the sector. However, regulatory barriers and environment issues create challenges, which affect pricing and production trends in the long term.

India Iron Ore Market Size

Export Growth Amidst Global Demand Shifts

India's exports of iron ore have grown, with China and other Asian buyers dominated by strong demand. Indian miners continue to gain from periodic government actions notwithstanding, following supply disruptions globally in Australia and Brazil. The global move towards emerging economies in steel production has provided new export markets, with demand increasing for low-alumina and high-grade iron ore fines. Domestic supply deficiencies and seasonal fluctuations affect trade flows, though. In November 2024, exports fell 20% month-on-month to 1.53 million tonnes from 1.97 million tonnes in October, mainly because of softer demand from China. Geopolitical trade policies and volatile freight rates also affect export competitiveness, but cost-efficient mining operations in India support its global presence. With optimized beneficiation and processing capacities, the industry continues to ride market fluctuations while holding a strong position in global trade.

Policy Reforms and Mining Sector Developments

Government initiatives aimed at streamlining mining operations have significantly improved transparency and efficiency in India’s iron ore sector. The introduction of auction-based allocation for mineral blocks has boosted production, with provisional iron ore output reaching approximately 275 million tonnes in FY 2023-24, reflecting a 7.5% annual increase. The abolition of export duties on poor-grade ore and relaxation of restriction on mining in important states such as Odisha and Karnataka further tightened supply. Further, the National Mineral Policy and changes made to the Mines and Minerals (Development and Regulation) Act favored foreign investment and private sector involvement, maximizing use of resources. Eco-friendly practices in mining with newer techniques for beneficiation are on the rise for minimizing waste generation and maximizing the yield. Yet, environmental laws and land acquisition issues remain obstacles to massive projects, affecting long-term production and market stability.

India Iron Ore Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type and end use.

Type Insights:

Fines
Lumps
Pellets
Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes fines, lumps, pellets, and others.

End Use Insights:

Steel Industry
Others

A detailed breakup and analysis of the market based on the end use have also been provided in the report. This includes steel industry, and others.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North, South, East, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Iron Ore Market News:

In December 2024, Tata Steel introduced an all-women shift at its Noamundi Iron Mine in Jharkhand. This initiative challenges industry norms, enabling women to operate heavy machinery and supervise shifts. Following the 2019 amendment to the Mines Act of 1952, Tata Steel has championed gender diversity through its Women@Mines initiative. Deputy Director General of Mines Safety, Shyam Sundar Prasad, hailed it as a transformative step.
In November 2024, Kazakhstan plans to launch the Lomonosovske iron ore project in Kostanay by 2027, with 74 million tons of high-grade reserves (Fe 67%). Mining will last 20 years, initially reaching 600 meters deep. The project supports green steel production but faces challenges like financing and excavation of an 80-meter-thick rock layer. CEO of Kazax Minerals Inc., Mohamad Shafiq, confirmed approvals are underway, with work already begun on drainage.

India Iron Ore Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type End Use Region
Types Covered	Fines, Lumps, Pellets, Others
End Uses Covered	Steel Industry, Others
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India iron ore market performed so far and how will it perform in the coming years?
What is the breakup of the India iron ore market on the basis of type?
What is the breakup of the India iron ore market on the basis of end use?
What is the breakup of the India iron ore market on the basis of region?
What are the various stages in the value chain of the India iron ore market?
What are the key driving factors and challenges in the India iron ore market?
What is the structure of the India iron ore market and who are the key players?
What is the degree of competition in the India iron ore market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India iron ore market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India iron ore market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India iron ore industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Purchase Options Discount
Offer

Inquire Before Buying

Speak to an Analyst

Request Brochure

Request Customization

Benefits of Customization

Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.