The global Direct Reduced Iron Market size was valued at USD 29.80 billion in 2021 and reached a valuation of USD 31.49 billion in 2022 and the market is expected to reach USD 57.57 billion by 2029 with a CAGR of 9.0% during the forecast period.

Source: https://www.fortunebusinessinsights.com/direct-reduced-iron-market-107381

Study Coverage: This study includes brief information about key products in the global Direct Reduced Iron market followed by an overview of important segments and manufacturers

It also highlights the direct reduced iron industry growth rates, different types, and application. Furthermore, it includes information about study objectives and total years considered for the complete research study.       

COVID-19 Impact:

Limitations in the Flow of Products Led to a Decline in the Market Progress

The COVID-19 pandemic affected various countries such as China, Japan, U.S., India, Germany, Italy, and Canada, announcing lockdowns, and limiting the flow of products and resources. Disruptions in the supply chains affected the supply of raw materials and finished goods. Recovery of the market is attributed to the increase in production to meet the demand for steel solutions. The manufacturers have started their activities by first implementing the indicated preventative measures.