Direct Reduced Iron Dri Market Scope And Analysis

Direct Reduced Iron (DRI) Market Report Scope

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The COVID-19 pandemic led to a decline in the progress of many industries across the globe. Shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for the manufacturers across the globe. Industries such as steel and construction have been the major contributors to the demand for direct reduced iron. In 2020, these industries had to slow down their operations due to disruptions in the value chain caused by the shutdown of national and international boundaries. The COVID-19 pandemic led to a shortage of manpower, which interrupted direct reduced iron production and distribution operations. Disruptions in global supply chain and shutdown of industrial material production facilities led to a severe spike in the prices of direct reduced iron. Lockdowns imposed by governments of different countries in 2020 hampered the ability of industries to maintain inventory levels. However, in 2021, the global marketplace began recovering from the losses incurred in 2020 as governments of various countries announced relaxation in social restrictions. Manufacturers were permitted to operate at full capacities, which helped them overcome the demand–supply gap. Therefore, the direct reduced iron market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the direct reduced iron market include, Nucor Corp, Cleveland-Cliffs Inc., Kobe Steel Ltd, Voestalpine AG, Ternium SA, SMS Group GmbH, JSW Steel Ltd, Tenova SpA, Liberty Steel Group Holdings UK Ltd, Bharat Engineering Works Pvt Ltd., Mobarakeh Steel Company, Khouzestan Steel Company,  Tosyali Algerie, Emirates Steel Arkan, Tata Steel Ltd., Briquetera del Orinoco and OMK among others.