The global Hot Briquetted Iron (HBI) market was valued at US$ 2732 million in 2019 and it is expected to reach US$ 3276.4 million by the end of 2026, growing at a CAGR of 2.6% during 2021-2026.
Hot Briquetted Iron (HBI) is a premium form of DRI that has been compacted at a temperature greater than 650° C at time of compaction and has a density greater than 5,000 kilograms per cubic metre (5,000 kg/m3).
HBI was developed as a product in order to overcome the problems associated with shipping and handling of DRI – due to the process of compaction it is very much less porous and therefore very much less reactive than DRI and does not suffer from the risk of self-heating associated with DRI.
Hot briquetted iron (HBI) is a form of direct reduced iron (DRI) with high iron content (>90%), high density greater than 5,000 kilograms per cubic meter, and has compaction temperature greater than 650°C. HBI is produced by reducing iron ore with natural gas in the form of briquettes. These briquettes are produced using the fluid bed process under temperature of 700° C and high pressing forces. HBI is used as a supplement scrap for electric furnace steel mills and pig iron.
The classification of Hot briquetted iron includes Fe Content 90-92% and Fe Content >92%. The proportion of Fe Content 90-92% in 2018 is about 77%.
Hot briquetted iron is application in Electric Arc Furnaces, Blast Furnaces, and Basic Oxygen Furnaces. The most of Hot briquetted iron is used in Electric Arc Furnaces, and the market share in 2018 is about 76%. Rising demand for HBI to overcome problems associated with DRI during shipping and handling is driving the global hot briquetted iron (HBI) market. Compaction process of HBI is less porous and reactive than DRI; therefore, it does not create self-heating issues. This, in turn, is anticipated to propel the demand for global hot briquetted iron (HBI) market during the forecast period. Additionally, most manufacturers of steel across the globe are shifting their modes of production of steel from traditional blast furnace technology to electric furnace process due to increasing environmental pollution.
Global Hot Briquetted Iron (HBI) Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Hot Briquetted Iron (HBI) Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Metalloinvest, Orinoco Iron, Voestalpine, Jindal Shadeed, Qatar Steel, Essar Steel, Lisco, Comsigua, Lion Group, JSW Steel and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Segment by Type
- Fe Content 90-92%
- Fe Content >92%
In 2018, Fe Content 90-92% accounted for a major share of 73% in the global Hot Briquetted Iron (HBI) market. And this product segment is poised to reach 2707 K MT by 2025 from 1954 K MT in 2018.
Segment by Application
- Electric Arc Furnaces
- Blast Furnaces
- Basic Oxygen Furnaces
The largest mIn Hot Briquetted Iron (HBI) market, Electric Arc Furnaces segment holds an important share in terms of application, and it is expected to reach a volume of 9369 (K MT) by 2025. It means that Hot Briquetted Iron (HBI) will be promising in the Electric Arc Furnaces field in the next couple of years.
Market share is Electric Arc Furnaces.
Table of Content:
1 Hot Briquetted Iron (HBI) Market Overview
2 Hot Briquetted Iron (HBI) Market Competition by Manufacturers
3 Hot Briquetted Iron (HBI) Retrospective Market Scenario by Region
4 Global Hot Briquetted Iron (HBI) Historic Market Analysis by Type
5 Global Hot Briquetted Iron (HBI) Historic Market Analysis by Application
6 Key Companies Profiled
7 Hot Briquetted Iron (HBI) Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Hot Briquetted Iron (HBI) Market Dynamics
10 Global Hot Briquetted Iron (HBI) Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta