Direct Reduced Iron (DRI) Market Dynamics and Trends by 2030

Direct Reduced Iron, also known as sponge iron, is obtained by the direct reduction of iron ore in the solid state either by hydrogen or carbon monoxide derived from natural gas or coal. It is produced by three processes including gas-based shaft furnace process, gas-based fluidized bed process, and coal based rotary kiln furnaces. Iron ore, coal, and natural gas are significant raw materials required, which are procured for all three processes. Steel making through direct reduced iron is considered as the sustainable route for steel production. It is commercially available in the form of lumps, pellets and fine. The product is gaining popularity worldwide as it is considered as valuable source of virgin iron for the electric steelmaking process.

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