Feb 8, 2024   SOURCE: BusinessWire

Global Direct Reduced Iron Market Outlook Report 2023: Growing Preference for DRI Pellets Driving Market Expansion in the Steel Industry - Long-term Outlook to 2036 - ResearchAndMarkets.com

The "Global Direct Reduced Iron Market Outlook 2023-2036" report has been added to ResearchAndMarkets.com's offering.

The global direct reduced iron market is predicted to account for a CAGR of 9.26% during the forecast period i.e., between 2024-2036. The market is anticipated to register a growth rate of USD 131.32 billion by the end of 2036 up from a growth rate of USD 41.73 billion in the year 2023.

In the upcoming years, there will likely be an increase in demand for steel, especially from industries like renewable energy, automobiles, and construction. The sector of steelmaking in EAF will grow as a result of this increased demand.

Due to its importance in the EAF steelmaking procedure, DRI will become more and more in demand. Due to its distinctive qualities, which include its homogenous composition, high iron concentration, and few impurities, DRI is a desirable feedstock for the steel industry. This gives the DRI market a chance to grow and meet the escalating demands of EAF steelmakers.

The global direct reduced iron market is segmented into numerous segments, which include segmentation by application, form, production process, and by region. By form, the market is segmented into pellets, and lumps. By the end of 2036, the pellets segment is anticipated to garner the largest revenue of around USD 61.68 Billion, up from a revenue of close to USD19.74 Billion in the year 2023.

On the basis of region, the global medical device connectivity market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, amongst the markets in all the other regions, is anticipated to garner the largest revenue of more than USD 66.27 Billion by the end of 2036. Moreover, in the year 2023, the market in the region generated a revenue of over USD 18.87 Billion.

Competitive Positioning

  • Gallantt Group of Industries
  • Nucor Corporation
  • Jindal Shadeed Iron & Steel
  • Tosyali Algerie
  • Suez Steel Co.
  • JFE Steel Corporation
  • Tata Steel
  • JSW Group
  • SABIC
  • Welspun Group

Key Topics Covered:

1. An Outline of the Global Direct Reduced Iron Market

1.1 Market Definition

1.2 Market Segmentation

1.3 Industry Overview

2. Assumptions & Abbreviations

3. Research Methodology & Approach

3.1 Research Process

3.2 Primary Research

3.2.1 Manufacturers

3.2.2 Suppliers/ Distributors

3.2.3 End Users

3.3 Secondary Research

3.4 Market Size Estimation

4. Summary of the Report for Key Decision Makers

5. Forces of Market Constituents

5.1 Factors/drivers impacting the growth of the market

5.2 Market trends for better business practices

6. Key Market Opportunities for Business Growth

6.1 Based on the form

6.2 Based on the production process

6.3 Based on the application

6.4 Based on the geographical presence

7. Major Roadblocks for the Market Growth

8. Decarbonization Strategy and Carbon Credit Benefits for Market Players

8.1 Global Government Decarbonization Plans/Goals by Each Country under 2015 Agreement Agreed by 200 Countries

8.2 Measures taken by Countries to Reduce Carbon Footprints

8.3 Carbon Credits and Subsidy Plans/Benefits Rolled out by the Government for Market Players

8.4 Effective Ways to Harness Carbon-Credits and Impact on Profit Margins

8.5 Demand Impact on the Companies Opting for Carbon Credits

9. Government Regulation: How they would aid business?

10. Industry Risk Analysis

11. Global Economic Outlook: Challenges for Global Recovery and its Impact on Global Direct Reduced Iron Market

11.1 Ukraine-Russia crisis

11.2 Potential US economic slowdown

11.3 Impact of Recession on the Global economy

12. Industry Supply Chain Analysis

13. Patent Analysis

14. Comparative feature analysis

15. EXIM Analysis of Ferrous Products Obtained by Direct Reduction of Iron Ore

16. Analysis on Technology used in DRI Production

17. Analysis on the Type of Refractory

17.1 Acidic

17.2 Basic

17.3 Neutral

18. Types and Characteristics of Raw Materials used in Refractory Manufacture

19. Analysis of the Refractories Used in Various Industries

20. Recent Trend of using DRI Shaft furnaces in Combination with EAF Furnaces for Steel Production

20.1 Expansion of ironmaking process using iron scrap

20.2 Others

21. SWOT Analysis

22. PEST Analysis

23. Porter Five Forces Analysis

24. Analysis of Details of Direct Reduction of Iron Plants

For more information about this report visit https://www.researchandmarkets.com/r/lq3iv3

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