Direct Reduced Iron (DRI) Market Set for Robust Growth: Sustainability and Green Steel Drive Demand

Direct Reduced Iron (DRI) market size was $72.3 billion in 2024, is projected to grow to $179.0 billion, growing at a CAGR of 8.7% during the forecast period (2025–2035). As per the World Steel Association and Midrex Technologies, Inc., in 2022, annual global direct reduced iron (DRI) production was 127.36 million tons (Mt). DRI is mainly used in the production of steel. The commissioning of new capacity, especially in Iran, the return to operation of many coal-based rotary kiln furnaces in India, and the further ramp-up of recently commissioned plants are some of the major factors driving the growth of the DRI market.

Browse the full report description of “Direct Reduced Iron (DRI) Market Size, Share & Trends Analysis Report by Form (Lumps, Pellets, and Fines), by Production Process (Coal-based and Gas-based), and Application (Steel Production, Construction, and Others), Forecast Period (2025-2035)” at https://www.omrglobal.com/industry-reports/direct-reduced-iron-dri-market

Direct Reduced Iron Powering the Green Steel Revolution

• Hydrogen-based DRI technology can reduce carbon emissions up to 80-90%. Pilot projects like HYBRIT (Sweden) use green hydrogen, targeting fossil-free steel by 2030.

• DRI technology ensures Material Efficiency that reduces reliance on scrap, critical for regions with limited recycling infrastructure.

Key Players and Innovations

Several major players lead the Direct Reduced Iron industry, including ArcelorMittal S.A., Kobe Steel, Ltd., Midrex Technologies, Inc., Nucor Corporation, Tenova S.p.A., and Qatar Steel Company FZE. These companies are at the forefront of innovation, continually developing new technologies to meet the industry's evolving needs. For instance, Kobe Steel the FASTMET plant produces high?quality DRI or HBI with 85–92 % metallization and adjustable carbon content, serving as a primary or supplemental iron feed for blast furnaces, basic oxygen furnaces, or electric arc furnaces. Through the FASTMELT process—combining a rotary hearth furnace (RHF) with the Electric Iron making Furnace (EIF)—hot DRI is transformed directly into FASTIRON hot metal, offering an economical, high?purity feed that significantly boosts downstream steelmaking productivity.

Furthermore, in March 2023, ArcelorMittal completed the acquisition of Companhia Siderúrgica do Pecem (‘CSP’) in Brazil for an enterprise value of approximately $2.2 billion. The acquisition offers significant operational and financial synergies and brings with it the potential for further expansions, such as the option to add primary steelmaking capacity (including direct reduced iron) and rolling and finishing capacity.

Market Coverage

• The market numbers available for – 2024-2035

• Base year- 2024

• Forecast period- 2025-2035

• Segment Covered- 

o By Form 

o By Production Process 

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape - ArcelorMittal S.A., Kobe Steel, Ltd., Midrex Technologies, Inc., Nucor Corporation, Qatar Steel Company FZE, Tenova S.p.A., and others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Direct Reduced Iron Market Report Segment

By Form 

• Lumps
• Pellets
• Fines

By Production Process

• Coal-based
• Gas-based

By Application

• Steel Production
• Construction
• Others

Global Direct Reduced Iron Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Russia

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Australia and New Zealand

• ASEAN Economies

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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