According to the new market research report “Hot Briquetted Iron (HBI) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Hot Briquetted Iron (HBI) market size is projected to reach USD 6.74 billion by 2030, at a CAGR of 2.8% during the forecast period.
- Global Hot Briquetted Iron (HBI) MarketSize(US$ Million), 2019-2030
Source: QYResearch, "Hot Briquetted Iron (HBI) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Hot Briquetted Iron (HBI) Top5Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "Hot Briquetted Iron (HBI) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Hot Briquetted Iron (HBI) include Metalloinvest, Voestalpine, Cleveland-Cliffs, Lion Group, Lisco, Essar Steel, JSW Steel, Comsigua, Jindal Shadeed, Orinoco Iron, etc. In 2023, the global top five players had a share approximately 79.0% in terms of revenue.
The global Hot Briquetted Iron (HBI) market is primarily driven by increasing demand for steel production, as HBI is a crucial raw material in electric arc furnace (EAF) steelmaking. The push for reducing carbon emissions in steel manufacturing, coupled with the growing adoption of EAF technology over traditional blast furnaces, significantly boosts HBI demand. Furthermore, the availability of HBI as a cleaner and more efficient alternative to scrap steel, its benefits in terms of transportation and handling due to its compact form, and its higher iron content contribute to its rising popularity. Additionally, government regulations encouraging environmentally friendly practices in the steel industry further support the HBI market's growth.
About The Authors
| Yang Min - Lead Author |
| Email: yangmin@qyresearch.com |
| Yang Min is a market senior analyst specializing in chemical materials. Yangmin has 8 years’ experience in chemical materials market analysis, and focuses on chemical materials and API. He engaged in the development of technology and market reports and is also involved in custom projects. |
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