Direct Reduced Iron Market Size - By Product Type, By Technology, By Application, By End-use & Forecast, 2023

Description

List of Tables

Global Direct Reduced Iron Market will witness 8.6% CAGR between 2023 and 2032. The increasing demand for steel production, especially in developing economies, necessitates a consistent supply of reduced iron as a key raw material. Environmental concerns have favored the adoption of cleaner and more energy-efficient ironmaking processes, boosting the use of reduced iron. The construction and automotive industries are significant consumers, further fueling the market's expansion. Moreover, technological advancements and innovations in iron production methods contribute to the reduced iron market outlook.

Besides, rising investments from leading companies support market growth. For instance, in September 2023, Vale International, a global mining leader, signed a contract to provide iron ore to Essar Group's green steel venture in Saudi Arabia, as reported by Essar Group. Essar is making a significant investment of around USD 4.5 billion to establish an integrated steel facility in Ras Al Khair, Saudi Arabia, featuring a direct reduced iron (DRI) capacity of 5 million tonnes per year.

The overall Direct Reduced Iron Market is classified based on product type, application, and region.

The cold direct reduced iron segment will undergo significant development from 2023 to 2032. CDRI is an essential feedstock for electric arc furnaces in steel production, offering high purity and energy efficiency. As the steel industry looks for cleaner and cost-effective alternatives to traditional ironmaking methods, CDRI plays a pivotal role in meeting these demands, making it a sought-after choice in the reduced iron market share.

The electric arc furnace segment will register a commendable CAGR from 2023 to 2032. Electric arc furnaces rely on reduced iron as a primary feedstock for steelmaking due to its high purity and efficient melting characteristics. As the steel industry continues to embrace environmentally friendly and energy-efficient practices, the demand for reduced iron in EAFs remains robust, driving the direct reduced iron market growth.

Europe direct reduced iron market will showcase an appreciable CAGR from 2023 to 2032. The region's commitment to sustainable steel production and reduced carbon emissions has led to an increased preference for reduced iron in electric arc furnaces. For instance, as per the European Steel Association, it is projected that by 2030, approximately one-third of the steel produced through conventional blast furnace methods will transition to more environmentally friendly processes involving Direct Reduced Iron (DRI). Additionally, stringent environmental regulations and the pursuit of cleaner steelmaking processes contribute to the sustained demand for reduced iron in Europe, making it a pivotal player in the global market.

Product Code: 6398

Chapter 1 Methodology & Scope

1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
- 1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
- 1.7.1 Primary
- 1.7.2 Secondary
  - 1.7.2.1 Paid sources
  - 1.7.2.2 Unpaid sources

Chapter 2 Executive Summary

2.1 Direct reduced iron industry 360 degree synopsis, 2018 - 2032
2.2 Business trends
2.3 Product type trends
2.4 Technology
2.5 Application trends
2.6 End-use trends
2.7 Regional trends

Chapter 3 Direct reduced iron Industry Insights

3.1 Industry ecosystem analysis
3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
- 3.3.1 By product type
- 3.3.2 By technology
- 3.3.3 By application
- 3.3.4 By end use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
- 3.5.1 U.S.
- 3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
- 3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Impact of Russia Ukraine war

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Competitive positioning matrix
4.5 Strategy dashboard

Chapter 5 Direct Reduced Iron Market Size and Forecast, By Product Type 2018 - 2032

5.1 Hot Briquetted Iron
5.2 Cold Direct Reduced Iron

Chapter 6 Direct Reduced Iron Market Size and Forecast, By Technology 2018 - 2032

6.1 Gas based
6.2 Coal based

Chapter 7 Direct Reduced Iron Market Size and Forecast, By Application 2018 - 2032

7.1 Steelmaking
7.2 Electric Arc Furnace
7.3 Basic Oxygen Furnace
7.4 Foundries
7.5 Other Steel Production Processes

Chapter 8 Direct Reduced Iron Market Size and Forecast, By End-use 2018 - 2032

8.1 Construction
8.2 Automotive
8.3 Aerospace
8.4 Machinery and Equipment
8.5 Electrical and Electronic
8.6 Renewable Energy
8.7 Others

Chapter 9 Direct Reduced Iron Market Size and Forecast, By Region 2018 - 2032

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Indonesia
- 9.4.7 Malaysia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE
- 9.6.4 Egypt

Chapter 10 Company Profiles

10.1 MIDREX Technologies
10.2 Hylsa S.A. de C.V.
10.3 Kobe Steel
10.4 Jindal Steel & Power Ltd.
10.5 Metinvest Holding LLC
10.6 Tenova HYL S.A.
10.7 JSW Steel Limited
10.8 Qatar Steel Company FZE
10.9 Nucor Corporation
10.10 Essar Steel India Limited
10.11 JFE Steel Corporation
10.12 Iron Dynamics
10.13 LLC
10.14 Tata Steel Limited
10.15 NLMK Group