Direct Reduced Iron Market Size & Share by Forms (Pellets, Lumps); Production Process (Gas Based, Coal Based); Application (Steel Making, Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036
IBM and JFE Steel have entered into a partnership in September 2023 with the aim of providing JAVA's mAIster and fault recovery systems, supported by IBM Watson AL. It was initially designed for the application of JFE steel itself in domestic and international markets but has now been extended to include such applications.
By buying the majority of Voestalpine's shares in Texas, ArcelorMittal made a deal to acquire Voestalpine in 2022. Acquiring the HBI facilities is an essential component of this acquisition. It's the kind of iron that is directly reduced.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 4416
Published Date: Dec 08, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the market are surge in demand for eco-friendly products that emit less greenhouse gases, growing integration of Industry 4.0 and integration of gas based direct technologies.
The market size of enhanced geothermal systems is anticipated to attain a CAGR of 9.26% over the forecast period, i.e., 2023-2035.
The major players in the market are Suez Steel Co., Qatar Steel, JFE Steel Corporation, Tata Steel, JSW Group, ArcelorMittal, SABIC, Welspun Group., and others.
The pellets segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.