The Global Direct-Reduced-Iron (DRI) Market was valued at USD 18.5 Billion in 2024 and is projected to reach USD 28.9 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period (2024–2030). This robust growth is being driven by the global steel industry’s shift towards decarbonization, rising demand for high-quality steel scrap substitutes, and supportive government policies promoting cleaner steelmaking technologies.

As the steel sector accelerates its transition to low-carbon operations, the spotlight is on the key DRI producers and technology providers who are driving innovation, efficiency, and sustainable production pathways. In this blog, we profile the Top 10 Companies in the Direct-Reduced-Iron (DRI) Industry—a mix of global steel giants, technology licensors, and regional leaders shaping the future of ironmaking.

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🔟 1. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: DRI/HBI production, MIDREX® technology utilization

ArcelorMittal, the world’s largest steelmaker, is a major producer and consumer of DRI, utilizing it as a high-quality feedstock in its electric arc furnaces (EAFs) and blast furnaces. The company operates several DRI plants globally, with a strategic focus on increasing DRI usage to reduce its carbon footprint.

Sustainability Initiatives:

• Target of 25% CO2 emissions reduction in Europe by 2030

• Investment in hydrogen-based DRI pilot projects (e.g., Hamburg, Germany)

• Active member of the Hydrogen Breakthrough Ironmaking Technology (HYBRIT) initiative

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9️⃣ 2. NUCOR Corporation

Headquarters: Charlotte, North Carolina, USA
Key Offering: DRI production via multiple facilities (e.g., Louisiana, Trinidad)

NUCOR is North America’s largest DRI producer, operating significant capacity through its Nu-Iron Unlimited plant in Trinidad and its DRI facilities in Louisiana. The company relies heavily on DRI as a clean, high-quality metallic charge for its EAFs to produce a wide range of steel products.

Sustainability Initiatives:

• Leading user of natural gas-based DRI to lower emissions versus traditional ironmaking

• Continuous investment in DRI capacity to secure low-residual feedstock

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8️⃣ 3. Midrex Technologies, Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: MIDREX® DRI Plant Technology and Process Licenses

Midrex Technologies is the world’s leading provider of DRI plant technology, responsible for the majority of global DRI production through its MIDREX® Process. The company designs, engineers, and supplies the technology that enables the conversion of iron ore into high-purity DRI using natural gas or hydrogen-enriched reducing gases.

Technology Leadership:

• Over 60% of world’s DRI produced using MIDREX® Technology

• Pioneer of the MIDREX H₂™ technology for hydrogen-based ironmaking

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7️⃣ 4. Tosyali Algeria A.S.

Headquarters: Algiers, Algeria
Key Offering: DRI production, steelmaking, and long steel products

Tosyali Algeria is a major integrated steel producer in Africa and a significant DRI manufacturer. Its large-scale, modern DRI plant supplies its adjacent EAF steelmaking operations, making it a key player in the region’s industrial development.

Strategic Expansion:

• Operates one of the world’s largest single-module DRI plants

• Strategic partnerships for technology and market expansion

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6️⃣ 5. Jindal Shadeed Iron & Steel LLC

Headquarters: Sohar, Oman
Key Offering: High-quality DRI/HBI for export and local market

Jindal Shadeed is a prominent DRI producer in the Middle East, leveraging Oman’s strategic location and access to natural gas. The company produces DRI and Hot Briquetted Iron (HBI) primarily for export markets, serving steelmakers seeking high-grade metallic inputs.

Market Position:

• Key supplier of DRI/HBI to steel mills in Asia and the Middle East

• Benefits from low-cost natural gas and proximity to shipping lanes

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5️⃣ 6. Qatar Steel

Headquarters: Doha, Qatar
Key Offering: DRI, HBI, and steel products

Qatar Steel is a pioneer in the Middle Eastern DRI industry, operating one of the region’s first gas-based DRI plants. The company is a major exporter of DRI and HBI, supplying the global steel market with premium-quality iron units.

Innovation Focus:

• Long-standing expertise in DRI production since the 1970s

• Focus on product quality and supply chain reliability

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Direct-Reduced-Iron (DRI) Market – View in Detailed Research Report

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4️⃣ 7. Voestalpine AG

Headquarters: Linz, Austria
Key Offering: HBI from its pioneering H₂-based DRI plant

Voestalpine is a technology leader in the European steel industry, operating a landmark DRI plant in Texas, USA. This facility uses natural gas to produce HBI, which is shipped to Austria to feed its EAFs, representing a strategic step towards its long-term green steel vision involving hydrogen.

Sustainability Initiatives:

• World’s largest HBI plant for the European market

• Core part of the “greentec steel” program for carbon-neutral production by 2050

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3️⃣ 8. Kobe Steel, Ltd. (MIDREX Technologies Partner)

Headquarters: Kobe, Japan
Key Offering: DRI technology (as part owner of Midrex), steel products

Kobe Steel is a significant player through its ownership stake in Midrex Technologies, Inc. While also a steel producer, its influence on the DRI market stems from its role in developing and licensing the MIDREX® Process technology globally.

Technology Development:

• Co-owner of the leading DRI technology provider

• Contributor to R&D for next-generation, hydrogen-ready DRI plants

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2️⃣ 9. Khouzestan Steel Company (KSC)

Headquarters: Ahvaz, Iran
Key Offering: DRI production for domestic steelmaking

Khouzestan Steel Company is one of Iran’s major steel producers and a large-scale DRI manufacturer. Utilizing abundant domestic natural gas resources, KSC produces DRI to feed its steelmaking complexes, supporting Iran’s position as a top global DRI producer.

Domestic Focus:

• Major contributor to Iran’s significant DRI production capacity

• Integrated production from iron ore to finished steel

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1️⃣ 10. Tuwairqi Steel Mills Limited

Headquarters: Karachi, Pakistan
Key Offering: DRI production via MIDREX® technology

Tuwairqi Steel Mills is a key DRI producer in South Asia, operating a modern DRI plant based on MIDREX® technology. The company plays a vital role in supplying the raw material for the region’s growing steel industry.

Regional Role:

• Important supplier of high-quality DRI in Pakistan and surrounding markets

• Part of strategic industrial development in the region

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Direct-Reduced-Iron (DRI) Market – View in Detailed Research Report

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🌍 Outlook: The Future of DRI is Green and Hydrogen-Ready

The Direct-Reduced-Iron market is undergoing a profound transformation. While natural gas-based DRI currently dominates production, the industry is rapidly advancing towards hydrogen-based reduction as the pathway to near-zero carbon steelmaking.

📈 Key Trends Shaping the Market:

• Accelerated global investment in hydrogen-ready DRI plants

• Strong government incentives for green steel production in the EU, USA, and Asia

• Growing demand for high-purity DRI/HBI as a premium scrap substitute in EAFs

• Technology partnerships between steelmakers, energy companies, and equipment suppliers

Read Full Report:
Direct-Reduced-Iron (DRI) Market – View in Detailed Research Report

The companies listed above are not only producing the essential feedstock for modern steelmaking—they are building the infrastructure for the carbon-neutral steel industry of the future.