Direct Reduced Iron (DRI) Market
| Format: PDF/PPT/Excel
| Product ID:
4948
| Report Version:
October 2026
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Market Snappshot
- Market Size in 2025: $US 31.3 Bn
- Forecast Market by 2036: $US 70 Bn
- CAGR for the Period 2026-2036: 7.6%
- Top Region in Terms of Market Share: Asia Pacific (48.8%)
- Key Players: Qatar Steel, JSW Ispat Special Products Limited, Kobe Steel Ltd, ArcelorMittal, NUCOR, Midrex Technologies Inc, Khouzestan Steel Company, Gallantt Group of Industries, Welspun Group, Jindal Shadeed Iron & Steel LLC and Others
Analyst Viewpoint:
Direct Reduced Iron (DRI) Market Overview:
By grade, Grade – A (FeM – 81% Min) leads with an 87.4% share, followed by Grade – B (FeM – 78 To 80 %) and Grade – C (FeM – < 78%). By form, lumps lead the market. By production process, gas-based leads with more than half of the market share. By region, Asia Pacific leads with a 48.8% share, followed by Europe with 31.1% and North America with 13.1%. Latin America holds 4.3% and Middle East & Africa holds 2.7%.
The main trend in this market is the shift toward lower-carbon DRI, through hydrogen-ready plants, carbon capture and higher productivity at gas-based plants. This is supported by carbon border rules, by steel capacity expansion in Asia and by growth in electric arc furnace steelmaking.

| Drivers | Carbon Border Rules and Low-Emission Iron Projects to Drive Market Growth |
| Steel Capacity Expansion and Record DRI Plant Performance Across Geographies |
Carbon Border Rules and Low-Emission Iron Projects to Drive Market Growth
In North America, the focus is on cutting emissions from existing gas-based DRI. In September 2026, ExxonMobil started carbon capture and storage at Nucor’s DRI plant in Convent, Louisiana, with up to 800,000 tons of CO2 per year captured, transported and stored, supporting what the companies describe as the lowest-carbon DRI at scale in North America. In Asia and the Middle East, producers such as Jindal Steel in Oman already feed DRI hot into adjacent steelmaking, with Midrex reporting that 98% of the output of its Sohar plant is consumed as hot DRI, which saves reheating energy.
Since carbon pricing, customer demand and capital support are being applied in more than one region at the same time, they are expected to raise demand for high-grade and low-emission DRI, even as individual projects are delayed or rescheduled.
Steel Capacity Expansion and Record DRI Plant Performance Across Geographies
Existing DRI plants are also being run harder. Midrex reported that Tosyali Algeria’s DRI II module, which started in August 2024, now holds the highest annual and monthly production and productivity of all Midrex plants. The Jindal Steel plant in Sohar, Oman set a new annual productivity record, and Qatar Steel’s two modules ran above their rated capacity. At least eight Midrex modules set annual production records in 2025, and ten operated for more than 8,000 hours.
This expansion and productivity gain is spread across several regions and fuels. It supports steady demand for DRI-grade iron ore pellets and lumps, natural gas and coal-based reductants, and shows that existing plants can supply more iron without new construction.
Direct Reduced Iron (DRI) Regional Market Outlook:
Europe holds a 31.1% share. Demand is supported by the EU Carbon Border Adjustment Mechanism, hydrogen-based DRI projects by Stegra, ThyssenKrupp, Salzgitter and Tata Steel Netherlands, and the shift of integrated mills toward electric arc furnaces.
North America holds a 13.1% share. Demand is supported by Nucor’s gas-based DRI plant in Louisiana with its new carbon capture system, and by ArcelorMittal’s hot briquetted iron plant in Texas, which set a world monthly HBI record in September 2025.
Latin America holds a 4.3% share and Middle East & Africa holds a 2.7% share. Latin America includes Nucor’s Nu-Iron plant in Trinidad and Tobago, which achieved the highest DRI metallization of all Midrex plants in 2025, and the Middle East and North Africa include plants in Qatar, Oman, Saudi Arabia and Algeria that set production or productivity records.

Key Companies in Direct Reduced Iron (DRI) Market:
Key players include Qatar Steel, JSW Ispat Special Products Limited, Kobe Steel Ltd, ArcelorMittal, NUCOR, Midrex Technologies Inc, Khouzestan Steel Company, Gallantt Group of Industries, Welspun Group, Jindal Shadeed Iron & Steel LLC, AM/NS India, Tosyali Algeria A.S., Tuwairqi Steel Mills Limited and Others.
Key Developments in Direct Reduced Iron (DRI) Market:
| 1. ExxonMobil Starts Carbon Capture at Nucor’s DRI Plant in Louisiana: In September 2026, ExxonMobil began carbon capture and storage for Nucor’s DRI plant in Convent, Louisiana, with up to 800,000 tonnes of CO2 per year to be captured, transported and stored. |
| 2. Midrex Reports Record 82.17 Million Tonnes of Global DRI Production in 2025: Midrex reported that global DRI production rose 7.78% from 76.24 million tonnes in 2024, with at least eight modules setting annual records and Tosyali Algeria’s DRI II module holding the highest production and productivity of all Midrex plants. |
Direct Reduced Iron (DRI) Market Attributes:
| Market Value, 2025 | $US 31.3 Billion |
| Forecasted Market Value, 2036 | $US 70 Billion |
| CAGR (2026-2036) | 7.6% |
| Analysis Period | 2021-2036 |
| Historic Period | 2021-2024 |
| Base Year | 2025 |
| Forecast Period | 2026-2036 |
| Volume Unit | Tons |
| Value Unit | $US Billion |
| Market Segmentation | By Grade
By Form
By Production Process
By Region
|
| Companies Profiles |
|
| Customization Request | Available upon request |
1. Introduction
1.1. Report Scope
1.2. Market Segmentations and Definitions
1.3. Geographical Coverage
2. Executive Summary
2.1. Key Facts and Figures
2.2. Trends Impacting the Market
2.3. DatasticsR Growth Opportunity Matrix
3. Market Overview
3.1. Global Direct Reduced Iron (DRI) Market Analysis and Forecast, 2021-2036
3.1.1. Global Direct Reduced Iron (DRI) Market Size (Tons)
3.1.2. Global Direct Reduced Iron (DRI) Market Size ($US Bn)
3.2. Key Market Trends
3.3. Technology Roadmap and Developments
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Porter’s Five Forces Analysis
3.6. PESTL Analysis
3.7. Industry SWOT Analysis
3.8. Regulatory Landscape
3.9. Value Chain Analysis
3.9.1. List of Raw Materials Suppliers
3.9.2. List of Manufacturers
3.9.3. List of Dealers / Distributors
3.9.4. List of Potential Customers
3.10. Impact of Current Geopolitical Scenario on the Market
4. Technical Analysis
4.1. Product Specifications Analysis
4.2. Technology Adoption and Emerging Technologies
4.3. R&D Trends and Patents Landscape
4.4. Cost Structure and Profitability Analysis
5. Global Production Output Analysis (Tons), by Region, 2025
5.1. North America
5.2. Europe
5.3. Asia Pacific
5.4. Latin America
5.5. Middle East and Africa
6. Import-export Analysis Volume (Tons) and Value ($US Bn), by Key Country, 2021-2025
7. Price Trend Analysis and Forecasting ($US/Ton), 2021-2036
7.1. Price Trend Analysis and Forecasting, by Grade
7.2. Price Trend Analysis and Forecasting, by Form
7.3. Price Trend Analysis and Forecasting, by Region
8. Global Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
9. Global Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
10. Global Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
11. Global Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Region, 2021-2036
12. North America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
13. North America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
14. North America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
15. U.S. Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
16. U.S. Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
17. U.S. Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
18. Canada Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
19. Canada Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
20. Canada Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
21. Europe Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
22. Europe Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
23. Europe Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
24. Germany Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
25. Germany Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
26. Germany Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
27. U.K. Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
28. U.K. Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
29. U.K. Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
30. France Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
31. France Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
32. France Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
33. Italy Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
34. Italy Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
35. Italy Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
36. Spain Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
37. Spain Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
38. Spain Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
39. Russia & CIS Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
40. Russia & CIS Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
41. Russia & CIS Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
42. Rest of Europe Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
43. Rest of Europe Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
44. Rest of Europe Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
45. Asia Pacific Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
46. Asia Pacific Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
47. Asia Pacific Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
48. China Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
49. China Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
50. China Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
51. India Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
52. India Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
53. India Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
54. Japan Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
55. Japan Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
56. Japan Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
57. South Korea Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
58. South Korea Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
59. South Korea Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
60. Taiwan Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
61. Taiwan Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
62. Taiwan Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
63. Australia Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
64. Australia Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
65. Australia Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
66. ASEAN Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
67. ASEAN Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
68. ASEAN Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
69. Rest of Asia Pacific Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
70. Rest of Asia Pacific Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
71. Rest of Asia Pacific Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
72. Latin America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
73. Latin America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
74. Latin America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
75. Brazil Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
76. Brazil Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
77. Brazil Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
78. Mexico Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
79. Mexico Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
80. Mexico Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
81. Argentina Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
82. Argentina Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
83. Argentina Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
84. Rest of Latin America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
85. Rest of Latin America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
86. Rest of Latin America Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
87. Middle East & Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
88. Middle East & Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
89. Middle East & Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
90. Saudi Arabia Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
91. Saudi Arabia Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
92. Saudi Arabia Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
93. UAE Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
94. UAE Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
95. UAE Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
96. South Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
97. South Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
98. South Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
99. Rest of Middle East & Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Grade, 2021-2036
100. Rest of Middle East & Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Form, 2021-2036
101. Rest of Middle East & Africa Direct Reduced Iron (DRI) Market Analysis and Forecasting (Tons) ($US Bn), by Production Process, 2021-2036
102. Competition Landscape
102.1. Market Share Analysis (%), by Company, 2025
102.2. Competitive Benchmarking
102.3. Company Profiles
102.3.1. Qatar Steel
102.3.1.1. Company Overview
102.3.1.2. Business Portfolio
102.3.1.3. Financials
102.3.1.4. Geographical Footprint
102.3.1.5. SWOT Analysis
102.3.1.6. Recent Developments and Strategies
102.3.2. JSW Ispat Special Products Limited
102.3.2.1. Company Overview
102.3.2.2. Business Portfolio
102.3.2.3. Financials
102.3.2.4. Geographical Footprint
102.3.2.5. SWOT Analysis
102.3.2.6. Recent Developments and Strategies
102.3.3. Kobe Steel Ltd
102.3.3.1. Company Overview
102.3.3.2. Business Portfolio
102.3.3.3. Financials
102.3.3.4. Geographical Footprint
102.3.3.5. SWOT Analysis
102.3.3.6. Recent Developments and Strategies
102.3.4. ArcelorMittal
102.3.4.1. Company Overview
102.3.4.2. Business Portfolio
102.3.4.3. Financials
102.3.4.4. Geographical Footprint
102.3.4.5. SWOT Analysis
102.3.4.6. Recent Developments and Strategies
102.3.5. NUCOR
102.3.5.1. Company Overview
102.3.5.2. Business Portfolio
102.3.5.3. Financials
102.3.5.4. Geographical Footprint
102.3.5.5. SWOT Analysis
102.3.5.6. Recent Developments and Strategies
102.3.6. Midrex Technologies Inc
102.3.6.1. Company Overview
102.3.6.2. Business Portfolio
102.3.6.3. Financials
102.3.6.4. Geographical Footprint
102.3.6.5. SWOT Analysis
102.3.6.6. Recent Developments and Strategies
102.3.7. Khouzestan Steel Company
102.3.7.1. Company Overview
102.3.7.2. Business Portfolio
102.3.7.3. Financials
102.3.7.4. Geographical Footprint
102.3.7.5. SWOT Analysis
102.3.7.6. Recent Developments and Strategies
102.3.8. Gallantt Group of Industries
102.3.8.1. Company Overview
102.3.8.2. Business Portfolio
102.3.8.3. Financials
102.3.8.4. Geographical Footprint
102.3.8.5. SWOT Analysis
102.3.8.6. Recent Developments and Strategies
102.3.9. Welspun Group
102.3.9.1. Company Overview
102.3.9.2. Business Portfolio
102.3.9.3. Financials
102.3.9.4. Geographical Footprint
102.3.9.5. SWOT Analysis
102.3.9.6. Recent Developments and Strategies
102.3.10. Jindal Shadeed Iron & Steel LLC
102.3.10.1. Company Overview
102.3.10.2. Business Portfolio
102.3.10.3. Financials
102.3.10.4. Geographical Footprint
102.3.10.5. SWOT Analysis
102.3.10.6. Recent Developments and Strategies
102.3.11. AM/NS India
102.3.11.1. Company Overview
102.3.11.2. Business Portfolio
102.3.11.3. Financials
102.3.11.4. Geographical Footprint
102.3.11.5. SWOT Analysis
102.3.11.6. Recent Developments and Strategies
102.3.12. Tosyali Algeria A.S.
102.3.12.1. Company Overview
102.3.12.2. Business Portfolio
102.3.12.3. Financials
102.3.12.4. Geographical Footprint
102.3.12.5. SWOT Analysis
102.3.12.6. Recent Developments and Strategies
102.3.13. Tuwairqi Steel Mills Limited
102.3.13.1. Company Overview
102.3.13.2. Business Portfolio
102.3.13.3. Financials
102.3.13.4. Geographical Footprint
102.3.13.5. SWOT Analysis
102.3.14. Recent Developments and Strategies
102.3.15. Others
103. Appendix


