Direct Reduced Iron (DRI) Market 2024 to 2032: Trends, Size, Share, Research Report Analysis and Forecast
The Reports and Insights, a leading market
research company, has recently releases report titled “Direct Reduced Iron
(DRI) Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2024-2032.” The study provides a detailed analysis of the
industry, including the global Direct Reduced Iron (DRI)
Market share, size, trends, and growth forecasts. The report also includes
competitor and regional analysis and highlights the latest advancements in the
market.
Report Highlights:
How big is the Direct Reduced Iron (DRI)
market?
The global direct reduced iron
market was valued at US$ 52.27 Billion in 2023 and is expected to register a
CAGR of 9.3% over the forecast period and reach US$ 116.37 Bn in 2032.
What is Direct Reduced Iron (DRI)?
Direct Reduced Iron (DRI) is a form of iron created by reducing iron
ore in its solid state, typically with natural gas or coal, rather than melting
it in a blast furnace. This direct reduction process yields a highly pure iron
product that serves as an ideal feedstock for steelmaking in electric arc
furnaces or as an alternative to scrap iron. DRI is prized for its high iron
content and low impurities, making it a preferred raw material in the steel
industry for producing high-quality, consistent steel.
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What are the growth prospects and trends in
the Direct Reduced Iron (DRI) industry?
The direct reduced iron (DRI) market growth is driven by various
factors and trends. The direct reduced iron (DRI) market refers to the global
industry engaged in producing and supplying DRI, which is a pure form of iron
made by reducing iron ore with natural gas or coal. DRI is a crucial raw material
for steelmaking in electric arc furnaces and is also used as a substitute for
scrap iron. Market growth is fueled by rising steel demand, particularly in
developing economies, and the cost-effectiveness and environmental advantages
of DRI in steel production. Major market players are concentrating on expanding
production capacities and enhancing DRI quality to meet the increasing demand
across various sectors like automotive, construction, and manufacturing. Hence,
all these factors contribute to direct reduced iron (DRI) market growth.
What is included in market segmentation?
The report has segmented the market into the
following categories:
By Type
- Cold
Direct Reduced Iron
- Hot
Direct Reduced Iron
By Form
- Lump
- Pellets
By Production Process
- Coal-based
o Rotary
Kiln Furnaces
o Rotary
Hearth
- Gas-Based
o Shaft
Furnace Processes
o Fluidized
Bed Processes
By Application
- Steel Making
- Construction
By Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East
- Africa
Who are the key players operating in the
industry?
The report covers the major market players
including:
·
Midrex Technologies
·
Tosyali Algerie
·
ArcelorMittal
·
LIBERTY Steel Group
·
Essar Steel
·
Qatar Steel
·
Hadeed
·
SIDOR
·
Libyan Iron and Steel Company
·
Paul Wurth
·
Khouzestan Steel Co.
·
Jindal Steel & Power
·
Nucor
·
JSW Ispat Special Products Limited
·
Kobe Steel Ltd
·
Gallantt Group of Industries
·
Welspun Group
·
AM/NS India
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is not covered currently within the scope of the report, we will provide the
same as a part of the customization.
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