Europe 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), and Application (Steel Making and Construction)
The Europe Direct Reduced Iron (DRI) Market is expected to grow from US$ 2,801.99 million in 2023 to US$ 4,766.90 million by 2030. It is estimated to grow at a CAGR of 7.9% from 2023 to 2030.
Rise in Steel Production and Use Industry Fuel Europe Direct Reduced Iron (DRI) Market
Removing impurities during the process of direct reduced iron production becomes difficult as the iron ore remains solid throughout the process. As a result, the quality of sponge iron is closely related to the quality of iron ore inputs. Direct reduced iron is, therefore, mostly made from superior-quality raw materials, which are produced at a limited number of mines. A significant expansion of direct reduced iron manufacturing will likely lead to a shortage of raw materials in the future. The increasing scale of DRI production would further require superior-quality raw materials in higher quantities to avoid postproduction processing for the removal of impurities. Thus, although steelmakers fully utilize existing mines or focus on exploring new mines capable of producing the necessary inputs, the inefficient supply of high-quality iron ore remains a persistent issue. The current shortage of high-quality iron ore creates a significant hurdle for steelmakers who are trying to reduce their carbon emissions. Hence, the lack of availability of raw materials of expected quality restrains the growth of the direct reduced iron market
Europe Direct Reduced Iron (DRI) Market Overview
The Europe direct reduced iron market growth is attributed to the expansion of DRI production capacity, to meet the steel production, and construction activities in the region. The European steel industry is a world leader in innovation and environmental sustainability. According to data provided by European Steel Association AISBL (EUROFER) the European steel industry has a turnover of around €125 billion, producing on average 153 million tons of steel per year. There are more than 500 steel production sites across 22 European member states. Steel is the backbone for Europe’s manufacturing and construction industries and contributes significantly to development, growth, and employment in Europe.
Europe Direct Reduced Iron (DRI) Market Revenue and Forecast to 2030 (US$ Million)
Europe Direct Reduced Iron (DRI) Market Segmentation
The Europe Direct Reduced Iron (DRI) Market is segmented into from, production process, and application.
Based on from, the Europe Direct Reduced Iron (DRI) Market is segmented into lumps, pellets, and fine. The pellets segment held a largest share of the Europe Direct Reduced Iron (DRI) Market in 2023.
Based on production process, the Europe Direct Reduced Iron (DRI) Market is segmented into Coal Based and Gas Based. The gas-based segment held the largest share of the Europe Direct Reduced Iron (DRI) Market in 2023.
Based on application, the Europe Direct Reduced Iron (DRI) Market is segmented into Steel Making and Construction. The steel making segment held the largest share of the Europe Direct Reduced Iron (DRI) Market in 2023.
Based on country, the Europe Direct Reduced Iron (DRI) Market is segmented into the Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Russia dominated the share of the Europe Direct Reduced Iron (DRI) Market in 2023.
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; and Bharat Engineering Works Pvt Ltd are the leading companies operation in Europe Direct Reduced Iron (DRI) Market.
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- 1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Europe Direct Reduced Iron (DRI) Market, by Form
- 1.3.2 Europe Direct Reduced Iron (DRI) Market, by Production Process
- 1.3.3 Europe Direct Reduced Iron (DRI) Market, by Application
- 1.3.4 Europe 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. Europe 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. Europe 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) – Europe Market Analysis
- 6.1 Europe Direct Reduced Iron (DRI) Market Overview
- 6.2 Europe Direct Reduced Iron (DRI) Market –Volume and Forecast to 2030 (Kilo Tons)
- 6.3 Europe Direct Reduced Iron (DRI) Market –Revenue and Forecast to 2030 (US$ Million)
- 7. Europe Direct Reduced Iron (DRI) Market Analysis – By Form
- 7.1 Overview
- 7.2 Europe Direct Reduced Iron (DRI) Market, By Form (2022 and 2030)
- 7.3 Lumps
- 7.3.1 Overview
- 7.3.2 Lumps: Europe Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
- 7.3.3 Lumps: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- 7.4 Pellets
- 7.4.1 Overview
- 7.4.2 Pellets: Europe Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
- 7.4.3 Pellets: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- 7.5 Fine
- 7.5.1 Overview
- 7.5.2 Fine: Europe Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
- 7.5.3 Fine: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- 8. Europe Direct Reduced Iron (DRI) Market Analysis – By Production Process
- 8.1 Overview
- 8.2 Europe Direct Reduced Iron (DRI) Market, By Production Process (2022 and 2030)
- 8.3 Coal Based
- 8.3.1 Overview
- 8.3.2 Coal Based: Europe 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: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- 9. Europe Direct Reduced Iron (DRI) Market Analysis – By Application
- 9.1 Overview
- 9.2 Europe Direct Reduced Iron (DRI) Market, By Application (2022 and 2030)
- 9.3 Steel Making
- 9.3.1 Overview
- 9.3.2 Steel Making: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- 9.4 Construction
- 9.4.1 Overview
- 9.4.2 Construction: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- 10. Europe Direct Reduced Iron Market – Country Analysis
- 10.1 Overview
- 10.1.1 Europe: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- 10.1.2 Europe: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- 10.1.3 Europe: Direct Reduced Iron Market, by Key Country
- 10.1.3.1 Germany: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- 10.1.3.2 Germany: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- 10.1.3.2.1 Germany: Direct Reduced Iron Market, by Form
- 10.1.3.2.2 Germany: Direct Reduced Iron Market, by Form
- 10.1.3.2.3 Germany: Direct Reduced Iron Market, by Production Process
- 10.1.3.2.4 Germany: Direct Reduced Iron Market, by Application
- 10.1.3.3 France: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- 10.1.3.4 France: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- 10.1.3.4.1 France: Direct Reduced Iron Market, by Form
- 10.1.3.4.2 France: Direct Reduced Iron Market, by Form
- 10.1.3.4.3 France: Direct Reduced Iron Market, by Production Process
- 10.1.3.4.4 France: Direct Reduced Iron Market, by Application
- 10.1.3.5 Italy: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- 10.1.3.6 Italy: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- 10.1.3.6.1 Italy: Direct Reduced Iron Market, by Form
- 10.1.3.6.2 Italy: Direct Reduced Iron Market, by Form
- 10.1.3.6.3 Italy: Direct Reduced Iron Market, by Production Process
- 10.1.3.6.4 Italy: Direct Reduced Iron Market, by Application
- 10.1.3.7 United Kingdom: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- 10.1.3.8 United Kingdom: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- 10.1.3.8.1 United Kingdom: Direct Reduced Iron Market, by Form
- 10.1.3.8.2 United Kingdom: Direct Reduced Iron Market, by Form
- 10.1.3.8.3 United Kingdom: Direct Reduced Iron Market, by Production Process
- 10.1.3.8.4 United Kingdom: Direct Reduced Iron Market, by Application
- 10.1.3.9 Russia: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- 10.1.3.10 Russia: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- 10.1.3.10.1 Russia: Direct Reduced Iron Market, by Form
- 10.1.3.10.2 Russia: Direct Reduced Iron Market, by Form
- 10.1.3.10.3 Russia: Direct Reduced Iron Market, by Production Process
- 10.1.3.10.4 Russia: Direct Reduced Iron Market, by Application
- 10.1.3.11 Rest of Europe: Direct Reduced Iron Market – Volume and Forecast to 2030 (Kilo Tons)
- 10.1.3.12 Rest of Europe: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
- 10.1.3.12.1 Rest of Europe: Direct Reduced Iron Market, by Form
- 10.1.3.12.2 Rest of Europe: Direct Reduced Iron Market, by Form
- 10.1.3.12.3 Rest of Europe: Direct Reduced Iron Market, by Production Process
- 10.1.3.12.4 Rest of Europe: Direct Reduced Iron Market, by Application
- 11. Industry Landscape
- 11.1 Overview
- 11.2 Merger and Acquisition
- 12. Company Profiles
- 12.1 Nucor Corp
- 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 Cleveland-Cliffs Inc
- 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 Kobe Steel Ltd
- 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 SMS Group GmbH
- 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 Voestalpine AG
- 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 Ternium SA
- 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 JSW Steel 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 Tenova SpA
- 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
- 12.9 Liberty Steel Group Holdings UK Ltd
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
- 12.10 Bharat Engineering Works Pvt Ltd
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
- 13. Appendix
- 13.1 About the Insight Partners
- 13.2 Glossary of Terms
- LIST OF TABLES
- Table 1. Europe Direct Reduced Iron (DRI) Market –Volume and Forecast to 2030 (Kilo Tons)
- Table 2. Europe Direct Reduced Iron (DRI) Market –Revenue and Forecast to 2030 (US$ Million)
- Table 3. Germany Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
- Table 4. Germany Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
- Table 5. Germany Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
- Table 6. Germany Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
- Table 7. France Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
- Table 8. France Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
- Table 9. France Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
- Table 10. France Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
- Table 11. Italy Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
- Table 12. Italy Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
- Table 13. Italy Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
- Table 14. Italy Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
- Table 15. United Kingdom Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
- Table 16. United Kingdom Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
- Table 17. United Kingdom Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
- Table 18. United Kingdom Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
- Table 19. Russia: Direct Reduced Iron Market, by Form– Volume and Forecast to 2030 (Kilo Tons)
- Table 20. Russia: Direct Reduced Iron Market, by Form– Revenue and Forecast to 2030 (US$ Million)
- Table 21. Russia: Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
- Table 22. Russia: Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
- Table 23. Rest of Europe Direct Reduced Iron Market, by Form – Volume and Forecast to 2030 (Kilo Tons)
- Table 24. Rest of Europe Direct Reduced Iron Market, by Form – Revenue and Forecast to 2030 (US$ Million)
- Table 25. Rest of Europe Direct Reduced Iron Market, by Production Process – Revenue and Forecast to 2030 (US$ Million)
- Table 26. Rest of Europe Direct Reduced Iron Market, by Application – Revenue and Forecast to 2030 (US$ Million)
- Table 27. Glossary of Terms, Europe Direct Reduced Iron (DRI) Market
- LIST OF FIGURES
- Figure 1. Europe Direct Reduced Iron (DRI) Market Segmentation
- Figure 2. Europe Direct Reduced Iron (DRI) Market Segmentation – By Country
- Figure 3. Europe Direct Reduced Iron (DRI) Market Overview
- Figure 4. Europe Direct Reduced Iron (DRI) Market, By Form
- Figure 5. Europe Direct Reduced Iron (DRI) Market, by Country
- Figure 7. Porter’s Five Forces Analysis of Europe Direct Reduced Iron (DRI) Market
- Figure 8. Europe Direct Reduced Iron (DRI) Market, Ecosystem
- Figure 9. Expert Opinion
- Figure 10. Europe Direct Reduced Iron (DRI) Market Impact Analysis of Drivers and Restraints
- Figure 11. Europe Direct Reduced Iron (DRI) Market – Volume and Forecast to 2030 (Kilo Tons)
- Figure 12. Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast to 2030 (US$ Million)
- Figure 13. Europe Direct Reduced Iron (DRI) Market Revenue Share, By Form (2022 and 2030)
- Figure 14. Lumps: Europe Direct Reduced Iron (DRI) Market – Volume and Forecast To 2030 (Kilo Tons)
- Figure 15. Lumps: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 16. Pellets: Europe Direct Reduced Iron (DRI) Market – Volume and Forecast To 2030 (Kilo Tons)
- Figure 17. Pellets: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 18. Fine: Europe Direct Reduced Iron (DRI) Market – Volume and Forecast To 2030 (Kilo Tons)
- Figure 19. Fine: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 20. Europe Direct Reduced Iron (DRI) Market Revenue Share, By Production Process (2022 and 2030)
- Figure 21. Coal Based: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 22. Gas Based: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 23. Europe Direct Reduced Iron (DRI) Market Revenue Share, By Application (2022 and 2030)
- Figure 24. Steel Making: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 25. Construction: Europe Direct Reduced Iron (DRI) Market – Revenue and Forecast To 2030 (US$ Million)
- Figure 26. Europe: Direct Reduced Iron Market, By Key Country– Revenue (2022) (US$ Million)
- Figure 27. Europe: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- Figure 28. Europe: Direct Reduced Iron Market– Revenue and Forecast to 2030 (US$ Million)
- Figure 29. Europe: Direct Reduced Iron Market Revenue Share, by Key Country (2022 and 2030)
- Figure 30. Germany: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- Figure 31. Germany: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- Figure 32. France: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- Figure 33. France: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- Figure 34. Italy: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- Figure 35. Italy: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- Figure 36. United Kingdom: Direct Reduced Iron Market–Volume and Forecast to 2030 (Kilo Tons)
- Figure 37. United Kingdom: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- Figure 38. Russia: Direct Reduced Iron Market– Volume and Forecast to 2030 (Kilo Tons)
- Figure 39. Russia: Direct Reduced Iron Market–Revenue and Forecast to 2030 (US$ Million)
- Figure 40. Rest of Europe: Direct Reduced Iron Market – Volume and Forecast to 2030 (Kilo Tons)
- Figure 41. Rest of Europe: Direct Reduced Iron Market –Revenue and Forecast to 2030 (US$ Million)
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