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)
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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Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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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 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 The Insight Partners
- 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)
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