Increasing demand for Direct Reduced Iron (DRI) from infrastructure, appliances, aerospace, automotive, and other sectors is propelling the market growth. The valuation of this market is expected to reach USD 28,195.90 million in 2024.
By 2034, the market is projected to reach USD 60,013.60 million, expanding at a CAGR of 7.60%. The market is driven by several companies like Voestalpine, Salzgiter, ArcelorMittal, etc. that are boosting the creation of new DRI as well as electric arc furnaces.
| Attributes | Key Insights |
|---|---|
| Direct Reduced Iron Market Size (2024E) | USD 28,195.90 million |
| Market Valuation (2034F) | USD 60,013.60 million |
| Value-based CAGR (2024 to 2034) | 7.60% |
| Leading Form | Lumps |
|---|---|
| Value Share (2024) | 97.60% |
The lumps segment is projected to gain 97.60% of the market share in 2024. The use of lump DRI is increasing as it has a more consistent and well-defined chemical composition that allows for improved control over the end properties of the steel being produced.
The segment is further expanding because steel manufacturers are rapidly focusing on developing high-quality steel. Since the lump form of DRI is a reliable supplement to scrap steel, it helps manufacturers achieve better quality final products.
| Leading Production Process | Gas based |
|---|---|
| Value Share (2024) | 71.40% |
The gas-based production process of direct reduced iron (DRI) is expected to obtain a 71.40% value share in 2024. The demand for gas-based processes is rising as they offer greater energy efficiency as opposed to coal-based alternatives. This results in lower production costs and lower waste heat.
The gas-based DRI is usually of higher quality, with improved metallization (iron content) and reduced levels of impurities, which is increasing its adoption to produce iron.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| United States | 4.20% |
| Germany | 3.50% |
| Spain | 5.60% |
| China | 8.40% |
| India | 11.30% |
The United States direct reduced iron (DRI) market is projected to expand at a CAGR of 4.20% over the forecast period. With many facilities for iron-making making their home in the United States, the country is projected to continue expanding at a steady pace.
Climate advocates had previously emphasized the upgraded and new iron and steelmaking investments to safeguard the community’s health as well as the climate. In March 2024, the Office of Clean Energy Demonstrations of the United States Department of Energy announced the initial award negotiations for the first hydrogen-ready iron-making facilities in the United States.
This iron made of green hydrogen developed from new, renewable energy sources has the potential to develop fossil-free iron in modern direct-reduced iron (DRI) furnaces.
Another notable development took place in March 2024. The United States Department of Energy chose Vale USA to commence negotiations to finance the construction of an iron ore briquette plant of USD 282.9 million. Vale’s project aims to develop a distinct iron ore briquette manufacturing facility in the country by using a patented cold sintering process to manufacture direct reduced products.
The market in Spain is predicted to expand at a CAGR of 5.60% in the next ten years. The growth of this industry is projected to be driven by new and continuous partnerships. For instance, in February 2024, Hydnum Steel and Vale inked a Memorandum of Understanding (MoU) to produce low-carbon solutions for steelmaking.
The agreement consists of jointly evaluating the possibility of constructing a collocated iron ore briquette plant in the flagship project of Hydnum Steel for green steel in Spain, precisely in Puertollano.
The direct reduced iron (DRI) market in Germany is projected to expand at a CAGR of 3.50% over the next decade. Rising investments in research and development are projected to propel market growth. For instance, in March 2024, ThyssenKrupp, the German industrial firm, was planning to develop a direct reduced iron (DRI) test facility, such as auxiliary infrastructure, at its steel plant in Duisburg, Duisburg-Nord.
The intent behind the project is to develop research into DRI production. Investments in the development of a demonstration-scale plant are projected to be USD 10.75 million. The test facility is expected to play a crucial role in the commercialization of hydrogen-based direct reduction of iron.
The latest trend impacting the market is the production of iron via green hydrogen. In August 2023, for instance, saw the launch of a direct reduction plant to produce iron via green hydrogen at the RWE AG's (ETR: RWE) power plant site in Lingen, Lower Saxony province.
India’s direct reduced iron market is anticipated to expand at a CAGR of 11.30% over the forecast period. The country is recognized as a leading producer of direct reduced iron. The demand for DRI has accelerated over the years due to the significant push given to the decarbonization of the steel industry.
Several companies are taking massive steps to lower their carbon footprint and executing relevant modernization projects. The latest trend in the market is the use of green hydrogen. It is used as a solution to solve the decarbonization challenge in the steel industry.
The steel sector's contribution to the overall CO2 in the country is claimed to be 12%. Every ton of steel produced in India emits around 2.55 tons of CO2 as opposed to the global average of 1.85 tons.
The expansion plans of the steel industry in India, motivated by the government’s ambitious infrastructure development targets, emphasize the urgency for steel producers to embrace tactics for decarbonization.
The growth of the direct reduced iron (DRI) market in China is projected to observe a CAGR of 8.40% over the forecast period. Expansion strategies adopted by market players are propelling the market growth. For instance, in January 2024, Baosteel Zhanjiang Iron & Steel set up a direct reduced iron (DRI) plant in the Guangdong province.
The new plant can develop up to one million tons of DRI annually using natural gas, hydrogen, and coke oven gas using the Energiron Zero Reformer technology produced by Tenova and Danieli.
HBIS successfully developed the commercial batch of DRI using Energiron technology in June 2023. The company enhances coke oven gas by hydrogen. Meanwhile, the firm plans to extend its hydrogen-based DRI production capacity to 1.2 million tons annually.
Key players are shifting their focus to emerging countries to meet the increasing demand for direct reduced iron. Several players are concentrating their efforts on enhancing their production capabilities.
Players are further investing in research and development activities. Additionally, the focus of the companies is on coming into collaborative partnerships to increase their revenue earnings. Industry participants are escalating their merger and acquisition activities to increase their market share.
Industry contenders are investing in new technologies to transform the DRI market. Moreover, supportive government policies are projected to augment the market growth.
Latest Developments in the Direct Reduced Iron (DRI) Market
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Volume (Tons) Forecast by Region, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 4: Global Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 5: Global Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 6: Global Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 7: Global Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 8: Global Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 9: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 10: North America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 11: North America Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 12: North America Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 13: North America Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 14: North America Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 15: North America Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 16: North America Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 18: Latin America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 19: Latin America Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 20: Latin America Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 21: Latin America Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 22: Latin America Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 23: Latin America Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 24: Latin America Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 25: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 26: Western Europe Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 27: Western Europe Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 28: Western Europe Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 29: Western Europe Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 30: Western Europe Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 31: Western Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 32: Western Europe Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 33: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 34: Eastern Europe Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 35: Eastern Europe Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 36: Eastern Europe Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 37: Eastern Europe Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 38: Eastern Europe Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 39: Eastern Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 40: Eastern Europe Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 41: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 42: South Asia and Pacific Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 43: South Asia and Pacific Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 44: South Asia and Pacific Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 45: South Asia and Pacific Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 46: South Asia and Pacific Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 47: South Asia and Pacific Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 48: South Asia and Pacific Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 49: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 50: East Asia Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 51: East Asia Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 52: East Asia Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 53: East Asia Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 54: East Asia Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 55: East Asia Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 56: East Asia Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 57: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 58: Middle East and Africa Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 59: Middle East and Africa Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 60: Middle East and Africa Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 61: Middle East and Africa Market Value (US$ Million) Forecast by Production Process, 2019 to 2034
Table 62: Middle East and Africa Market Volume (Tons) Forecast by Production Process, 2019 to 2034
Table 63: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 64: Middle East and Africa Market Volume (Tons) Forecast by Application, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Form, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Application, 2024 to 2034
Figure 4: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 6: Global Market Volume (Tons) Analysis by Region, 2019 to 2034
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 9: Global Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 10: Global Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 11: Global Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 12: Global Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 13: Global Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 14: Global Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 15: Global Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 16: Global Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 17: Global Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 18: Global Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 19: Global Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 20: Global Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 21: Global Market Attractiveness by Form, 2024 to 2034
Figure 22: Global Market Attractiveness by Production Process, 2024 to 2034
Figure 23: Global Market Attractiveness by Application, 2024 to 2034
Figure 24: Global Market Attractiveness by Region, 2024 to 2034
Figure 25: North America Market Value (US$ Million) by Form, 2024 to 2034
Figure 26: North America Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 27: North America Market Value (US$ Million) by Application, 2024 to 2034
Figure 28: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 29: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 30: North America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 33: North America Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 34: North America Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 35: North America Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 36: North America Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 37: North America Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 38: North America Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 39: North America Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 40: North America Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 41: North America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 42: North America Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 43: North America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 44: North America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 45: North America Market Attractiveness by Form, 2024 to 2034
Figure 46: North America Market Attractiveness by Production Process, 2024 to 2034
Figure 47: North America Market Attractiveness by Application, 2024 to 2034
Figure 48: North America Market Attractiveness by Country, 2024 to 2034
Figure 49: Latin America Market Value (US$ Million) by Form, 2024 to 2034
Figure 50: Latin America Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 51: Latin America Market Value (US$ Million) by Application, 2024 to 2034
Figure 52: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 54: Latin America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 57: Latin America Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 58: Latin America Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 59: Latin America Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 61: Latin America Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 62: Latin America Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 65: Latin America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 66: Latin America Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 67: Latin America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 69: Latin America Market Attractiveness by Form, 2024 to 2034
Figure 70: Latin America Market Attractiveness by Production Process, 2024 to 2034
Figure 71: Latin America Market Attractiveness by Application, 2024 to 2034
Figure 72: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 73: Western Europe Market Value (US$ Million) by Form, 2024 to 2034
Figure 74: Western Europe Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 75: Western Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 76: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 77: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 78: Western Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 79: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 80: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 81: Western Europe Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 82: Western Europe Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 83: Western Europe Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 84: Western Europe Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 85: Western Europe Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 86: Western Europe Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 87: Western Europe Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 88: Western Europe Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 89: Western Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 90: Western Europe Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 91: Western Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 92: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 93: Western Europe Market Attractiveness by Form, 2024 to 2034
Figure 94: Western Europe Market Attractiveness by Production Process, 2024 to 2034
Figure 95: Western Europe Market Attractiveness by Application, 2024 to 2034
Figure 96: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 97: Eastern Europe Market Value (US$ Million) by Form, 2024 to 2034
Figure 98: Eastern Europe Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 99: Eastern Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 100: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 101: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 102: Eastern Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 103: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 104: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 105: Eastern Europe Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 106: Eastern Europe Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 107: Eastern Europe Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 108: Eastern Europe Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 109: Eastern Europe Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 110: Eastern Europe Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 111: Eastern Europe Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 112: Eastern Europe Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 113: Eastern Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 114: Eastern Europe Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 115: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 116: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 117: Eastern Europe Market Attractiveness by Form, 2024 to 2034
Figure 118: Eastern Europe Market Attractiveness by Production Process, 2024 to 2034
Figure 119: Eastern Europe Market Attractiveness by Application, 2024 to 2034
Figure 120: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 121: South Asia and Pacific Market Value (US$ Million) by Form, 2024 to 2034
Figure 122: South Asia and Pacific Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 123: South Asia and Pacific Market Value (US$ Million) by Application, 2024 to 2034
Figure 124: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 125: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 126: South Asia and Pacific Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 127: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 128: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 129: South Asia and Pacific Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 130: South Asia and Pacific Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 131: South Asia and Pacific Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 132: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 133: South Asia and Pacific Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 134: South Asia and Pacific Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 135: South Asia and Pacific Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 136: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 137: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 138: South Asia and Pacific Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 139: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 140: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 141: South Asia and Pacific Market Attractiveness by Form, 2024 to 2034
Figure 142: South Asia and Pacific Market Attractiveness by Production Process, 2024 to 2034
Figure 143: South Asia and Pacific Market Attractiveness by Application, 2024 to 2034
Figure 144: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 145: East Asia Market Value (US$ Million) by Form, 2024 to 2034
Figure 146: East Asia Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 147: East Asia Market Value (US$ Million) by Application, 2024 to 2034
Figure 148: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 149: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 150: East Asia Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 151: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 152: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 153: East Asia Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 154: East Asia Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 155: East Asia Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 156: East Asia Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 157: East Asia Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 158: East Asia Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 159: East Asia Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 160: East Asia Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 161: East Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 162: East Asia Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 163: East Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 164: East Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 165: East Asia Market Attractiveness by Form, 2024 to 2034
Figure 166: East Asia Market Attractiveness by Production Process, 2024 to 2034
Figure 167: East Asia Market Attractiveness by Application, 2024 to 2034
Figure 168: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 169: Middle East and Africa Market Value (US$ Million) by Form, 2024 to 2034
Figure 170: Middle East and Africa Market Value (US$ Million) by Production Process, 2024 to 2034
Figure 171: Middle East and Africa Market Value (US$ Million) by Application, 2024 to 2034
Figure 172: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 173: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 174: Middle East and Africa Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 175: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 176: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 177: Middle East and Africa Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 178: Middle East and Africa Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 179: Middle East and Africa Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 180: Middle East and Africa Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 181: Middle East and Africa Market Value (US$ Million) Analysis by Production Process, 2019 to 2034
Figure 182: Middle East and Africa Market Volume (Tons) Analysis by Production Process, 2019 to 2034
Figure 183: Middle East and Africa Market Value Share (%) and BPS Analysis by Production Process, 2024 to 2034
Figure 184: Middle East and Africa Market Y-o-Y Growth (%) Projections by Production Process, 2024 to 2034
Figure 185: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 186: Middle East and Africa Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 187: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 188: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 189: Middle East and Africa Market Attractiveness by Form, 2024 to 2034
Figure 190: Middle East and Africa Market Attractiveness by Production Process, 2024 to 2034
Figure 191: Middle East and Africa Market Attractiveness by Application, 2024 to 2034
Figure 192: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
Current projections of the market indicate a valuation of USD 28,195.90 million in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 7.60% for the industry.
FMI predicts the market to reach USD 60,013.60 million by the year 2034.
The lumps segment is predicted to hold a significant market share in 2024, about 97.6%.
ArcelorMittal, Mobarakeh Steel, and Essar Steel are powerful players in the direct reduced iron industry.
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Direct Reduced Iron Market
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