South & Central America Direct Reduced Iron (DRI) Market

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) Strategic Insights

Strategic insights for the South & Central America Direct Reduced Iron (DRI) provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Direct Reduced Iron (DRI) Report Scope

South & Central America Direct Reduced Iron (DRI) Regional Insights

The geographic scope of the South & Central America Direct Reduced Iron (DRI) refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.