South & Central America Direct Reduced Iron (DRI) Market Forecast to 2030

South & Central America Direct Reduced Iron (DRI) Market Forecast to 2030– COVID-19 Impact and Regional Analysis– by Form (Lumps, Pellets, and Fine), Production Process (Coal Based and Gas Based), Application (Steel Making and Construction)

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Description

The South & Central America Direct Reduced Iron (DRI) Market is expected to grow from US$ 653.41 million in 2023 to US$ 1,046.77 million by 2030. It is estimated to grow at a CAGR of 7.0% from 2023 to 2030.

Shortage of high-quality raw Material South & Central America Direct Reduced Iron (DRI) Market

Coal and natural gas are the principal raw material to produce direct reduced iron in coal based and gas-based process. The abundance availability of coal and natural gas in various regions of the world is the major factor in increasing production of direct reduced iron. South & Central America mostly utilize natural gas for the DRI production, whereas coal is highly acceptable in Asian countries for manufacturing DRI due to abundance availability of coal. Natural gas has gained significant traction as a source of energy in recent times owing to its relatively clean combustion and fuel efficiency. The major manufacturers of direct reduced iron (DRI) across Americas are expanding their production capacities due to the feasibility of accessing coal and natural gas. Thus, the consistent investment made for setting up of new DRI plants from past few years is boosting the market growth.

South & Central America Direct Reduced Iron (DRI) Market Overview

The South & Central America direct reduced iron market is segmented into Brazil, Argentina, and Rest of South & Central America. The growing steel industry is the major consumer of direct reduced iron in the region. Brazil is the leading steel producer in Latin America, accounting for more than 50% percent of the region’s output. The steel is further utilized in the construction industry for the completion of new infrastructure projects in the region. The construction industry is the rapidly growing industry in South and Central America. According to the report by the Confederation of International Contractors’ Associations (February 2021), the government of Brazil classified construction as an essential activity, which prompted major players operating in the construction sector across the country to continue operations by reducing rate of work and laying off excess labours.

South & Central America Direct Reduced Iron (DRI) Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Direct Reduced Iron (DRI) Market Segmentation

The South & Central America Direct Reduced Iron (DRI) Market is segmented into form, production process, application, and country.

Based on from, the South & Central America Direct Reduced Iron (DRI) Market is segmented into lumps, pellets, and fine. The pellets segment held a largest share of the South & Central America Direct Reduced Iron (DRI) Market in 2023.

Based on production process, the South & Central America Direct Reduced Iron (DRI) Market is segmented into coal based and gas based. The gas-based segment held the largest share of the South & Central America Direct Reduced Iron (DRI) Market in 2023.

Based on application, the South & Central America Direct Reduced Iron (DRI) Market is segmented into steel making and construction. The steel making segment held the largest share of the South & Central America Direct Reduced Iron (DRI) Market in 2023.

Based on country, the South & Central America Direct Reduced Iron (DRI) Market is segmented into the Brazil, Argentina, and the Rest of South & Central America. The Argentina dominated the share of the South & Central America Direct Reduced Iron (DRI) Market in 2023.

Cleveland-Cliffs Inc; Kobe Steel Ltd; SMS Group GmbH; Voestalpine AG; Ternium SA JSW Steel Ltd; Tenova SpA; Liberty Steel Group Holdings UK Ltd; and Bharat Engineering Works Pvt Ltd are the leading companies operating in the South & Central America Direct Reduced Iron (DRI) Market.

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At 7.0% CAGR, the South & Central America Direct Reduced Iron (DRI) Market is speculated to be worth US$ 1,046.77 million by 2030, saysthe research team

According tothe research team’ research, the South & Central America Direct Reduced Iron (DRI) Market was valued at US$ 653.41 million in 2023 and is expected to reach US$ 1,046.77 million by 2030, registering a CAGR of 7.0% from 2023 to 2030. Rise in steel production and use expansion of direct reduced iron plants attributed to the South & Central America Direct Reduced Iron (DRI) Market expansion.

Steel is a vital alloy to modern economies as it plays a major role in manufacturing industries. It is the world’s most important engineering and construction material. The construction of homes, schools, hospitals, bridges, and automotive vehicles, among others, relies heavily on steel. It is also an integral component of energy transition efforts of countries, as it is used in the production of solar panels, wind turbines, electric vehicles, etc. Steel is produced via two main processes: blast furnace-basic oxygen furnace (BF-BOF) and electric arc furnace (EAF). Steel manufacturing involves lower energy consumption than the production processes of other materials. Further, it is the world’s most recycled material, with an easy process of recycling. The unique magnetic properties of steel make its separation and recovery from the stream to be recycled easy. Steel components can be designed into various forms, with better shapes and sturdy edges, unlike components made from iron, which is a commonly used metal in weapons. Engineering steel is used in general engineering and manufacturing sectors. In the automobile industry, different types of steel are used in a car for its body, doors, engine, suspension, and interior.

On the contrary, shortage of high-quality raw material hampers the South & Central America Direct Reduced Iron (DRI) Market.

Based on route from, the South & Central America Direct Reduced Iron (DRI) Market is segmented into lumps, pellets, and fine. The pellets delivery segment held 86.% share of South & Central America Direct Reduced Iron (DRI) Market in 2023, amassing US$ 565.40 million. It is projected to garner US$ 912.98 million by 2030 to expand at 7.1% CAGR during 2023–2030.

Based on production process, the South & Central America Direct Reduced Iron (DRI) Market is segmented into coal based and gas based. The gas-based segment held 95.4% share of South & Central America Direct Reduced Iron (DRI) Market in 2023, amassing US$ 623.65 million. It is projected to garner US$ 1,004.65 million by 2030 to expand at 7.0% CAGR during 2023–2030.

Based on application, the South & Central America Direct Reduced Iron (DRI) Market is segmented into steel making and construction. The steel making segment held 61.8% share of South & Central America Direct Reduced Iron (DRI) Market in 2023, amassing US$ 404.07 million. It is projected to garner US$ 633.70 million by 2030 to expand at 8.6% CAGR during 2023–2030.

Based on country, the South & Central America Direct Reduced Iron (DRI) Market has been categorized into the Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Argentina captured 70.0% share of South & Central America Direct Reduced Iron (DRI) Market in 2023. It was assessed at US$ 457.14 million in 2023 and is likely to hit US$ 738.36 million by 2030, exhibiting a CAGR of 7.1% during the forecast period.

Key players dominating the South & Central America Direct Reduced Iron (DRI) Market are Cleveland-Cliffs Inc; Kobe Steel Ltd; SMS Group GmbH; Voestalpine AG; Ternium SA JSW Steel Ltd; Tenova SpA; Liberty Steel Group Holdings UK Ltd; Bharat Engineering Works Pvt Ltd.

The company produces DRI. The company utilize coke oven gas (COG) to partially replace its natural gas supply for production of direct reduced iron. The usage of coke oven gas in place of natural gas across Direct Reduced Iron (DRI) plant, Tunnel Furnace for slab heating, SMS ladle preheater HSM Boiler and BF Cast house has helped company in achieving substantial energy savings.

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TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Direct Reduced Iron (DRI) Market, by Form
1.3.2 Direct Reduced Iron (DRI) Market, by Production Process
1.3.3 Direct Reduced Iron (DRI) Market, by Application
1.3.4 Direct Reduced Iron (DRI) Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Direct Reduced Iron (DRI) Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Suppliers:
4.2.3 Bargaining Power of Buyers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.3.1 Overview:
4.3.2 Raw Material Suppliers:
4.3.3 Manufacturers
4.3.4 Distributors/Suppliers
4.3.5 End-Use Industries
4.4 Expert Opinion
5. Direct Reduced Iron (DRI) Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Steel Production and Use
5.1.2 Expansion of Direct Reduced Iron Plants
5.2 Market Restraints
5.2.1 Shortage of High-Quality Raw Materials
5.3 Market Opportunities
5.3.1 Rising Preference for Green Steel Production
5.4 Future Trends
5.4.1 Initiatives by Various Government Bodies to Lower Carbon Footprint
5.5 Impact Analysis
6. Direct Reduced Iron (DRI) –South & Central America Market Analysis
6.1 Direct Reduced Iron (DRI) Market Overview
6.2 Direct Reduced Iron (DRI) Market –Volume and Forecast to 2030 (Kilo Tons)
6.3 Direct Reduced Iron (DRI) Market –Revenue and Forecast to 2030 (US$ Million)
7. South & Central America Direct Reduced Iron (DRI) Market Analysis – By Form
7.1 Overview
7.2 Direct Reduced Iron (DRI) Market, By Form (2022 and 2030)
7.3 Lumps
7.3.1 Overview
7.3.2 Lumps: Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
7.3.3 Lumps: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Pellets
7.4.1 Overview
7.4.2 Pellets: Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
7.4.3 Pellets: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Fine
7.5.1 Overview
7.5.2 Fine: Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
7.5.3 Fine: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Direct Reduced Iron (DRI) Market Analysis – By Production Process
8.1 Overview
8.2 Direct Reduced Iron (DRI) Market, By Production Process (2022 and 2030)
8.3 Coal Based
8.3.1 Overview
8.3.2 Coal Based: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Gas Based
8.4.1 Overview
8.4.2 Gas Based: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Direct Reduced Iron (DRI) Market Analysis – By Application
9.1 Overview
9.2 Direct Reduced Iron (DRI) Market, By Application (2022 and 2030)
9.3 Steel Making
9.3.1 Overview
9.3.2 Steel Making: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
9.4 Construction
9.4.1 Overview
9.4.2 Construction: Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
10. South & Central America Direct Reduced Iron Market –Country Analysis
10.1 Overview
10.1.1 South & Central America: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
10.1.2 South & Central America: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
10.1.3 South & Central America: Direct Reduced Iron Market, by Key Country
10.1.3.1 Brazil: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
10.1.3.2 Brazil: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
10.1.3.2.1 Brazil: Direct Reduced Iron Market, by Form
10.1.3.2.2 Brazil: Direct Reduced Iron Market, by Form
10.1.3.2.3 Brazil: Direct Reduced Iron Market, by Production Process
10.1.3.2.4 Brazil: Direct Reduced Iron Market, by Application
10.1.3.3 Argentina: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
10.1.3.4 Argentina: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
10.1.3.4.1 Argentina: Direct Reduced Iron Market, by Form
10.1.3.4.2 Argentina: Direct Reduced Iron Market, by Form
10.1.3.4.3 Argentina: Direct Reduced Iron Market, by Production Process
10.1.3.4.4 Argentina: Direct Reduced Iron Market, by Application
10.1.3.5 Rest of South & Central America: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
10.1.3.6 Rest of South & Central America: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
10.1.3.6.1 Rest of South & Central America: Direct Reduced Iron Market, by Form
10.1.3.6.2 Rest of South & Central America: Direct Reduced Iron Market, by Form
10.1.3.6.3 Rest of South & Central America: Direct Reduced Iron Market, by Production Process
10.1.3.6.4 Rest of South & Central America: Direct Reduced Iron Market, by Application
11. Industry Landscape
11.1 Overview
11.2 Merger and Acquisition
12. Company Profiles
12.1.1Kobe Steel Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 SMS Group GmbH
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Voestalpine AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Ternium SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 JSW Steel Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Tenova SpA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Liberty Steel Group Holdings UK Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Bharat Engineering Works Pvt Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About
13.2 Glossary of Terms

LIST OF TABLES

Table 1. Direct Reduced Iron (DRI) Market –Volume and Forecast to 2030 (Kilo Tons)
Table 2. Direct Reduced Iron (DRI) Market –Revenue and Forecast to 2030 (US$ Million)
Table 3. Brazil Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
Table 4. Brazil Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
Table 5. Brazil Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
Table 6. Brazil Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 7. Argentina Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
Table 8. Argentina Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
Table 9. Argentina Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
Table 10. Argentina Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 11. Rest of South & Central America Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
Table 12. Rest of South & Central America Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
Table 13. Rest of South & Central America Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
Table 14. Rest of South & Central America Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 15. Glossary of Terms, South & Central America Direct Reduced Iron (DRI) Market

LIST OF FIGURES

Figure 1. Direct Reduced Iron (DRI) Market Segmentation
Figure 2. Direct Reduced Iron (DRI) Market Segmentation – By Country
Figure 3. South & Central America Direct Reduced Iron (DRI) Market Overview
Figure 4. South & Central America Direct Reduced Iron (DRI) Market, By Form
Figure 5. South & Central America Direct Reduced Iron (DRI) Market, by Country
Figure 6. Porter’s Five Forces Analysis of Direct Reduced Iron (DRI) Market
Figure 7. Direct Reduced Iron (DRI) Market, Ecosystem
Figure 8. Expert Opinion
Figure 9. South & Central America Direct Reduced Iron (DRI) Market Impact Analysis of Drivers and Restraints
Figure 10. Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
Figure 11. Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Direct Reduced Iron (DRI) Market Revenue Share, By Form (2022 and 2030)
Figure 13. Lumps: Direct Reduced Iron (DRI) Market – Volume and Forecast To 2030 (Kilo Tons)
Figure 14. Lumps: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 15. Pellets: Direct Reduced Iron (DRI) Market – Volume and Forecast To 2030 (Kilo Tons)
Figure 16. Pellets: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 17. Fine: Direct Reduced Iron (DRI) Market – Volume and Forecast To 2030 (Kilo Tons)
Figure 18. Fine: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 19. Direct Reduced Iron (DRI) Market Revenue Share, By Production Process (2022 and 2030)
Figure 20. Coal Based: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 21. Gas Based: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 22. Direct Reduced Iron (DRI) Market Revenue Share, By Application (2022 and 2030)
Figure 23. Steel Making: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 24. Construction: Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
Figure 25. North America: Direct Reduced Iron Market, By Key Country – Revenue (2022) (US$ Million)
Figure 26. South & Central America: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
Figure 27. South & Central America: Direct Reduced Iron Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. South & Central America: Direct Reduced Iron Market Revenue Share, by Key Country (2022 and 2030)
Figure 29. Brazil: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
Figure 30. Brazil: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
Figure 31. Argentina: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
Figure 32. Argentina: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
Figure 33. Rest of South & Central America: Direct Reduced Iron Market –Volume and Forecast to 2030 (Kilo Tons)
Figure 34. Rest of South & Central America: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)

The List of Companies – South & Central America Direct Reduced Iron (DRI) Market

– Nucor Corp
– Cleveland-Cliffs Inc
– Kobe Steel Ltd
– SMS Group GmbH
– Voestalpine AG
– Ternium SA
– JSW Steel Ltd
– Tenova SpA
– Liberty Steel Group Holdings UK Ltd
– Bharat Engineering Works Pvt Ltd

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