Global Hot Briquetted Iron (HBI) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

Global Hot Briquetted Iron (HBI) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Hot Briquetted Iron (HBI) market size was valued at US$ 5041 million in 2024 and is forecast to a readjusted size of USD 5864 million by 2031 with a CAGR of 2.2% during review period.

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.

Global main manufacturers of hot briquetted iron (HBI) include Metalloinvest, Voestalpine and Cleveland-Cliffs, etc. The top three players hold a share about 72%. Europe is the largest producer, holds a share around 49%, followed by North America and India, with share 26% and 8%, separately.

The Hot Briquetted Iron (HBI) market is witnessing growth due to its role as a high-quality feedstock in the steelmaking industry. HBI, which is produced by compacting direct reduced iron (DRI) into briquettes at high temperatures, offers advantages such as improved handling and storage compared to traditional DRI. The increasing global demand for steel, driven by infrastructure development and construction activities, is fueling the need for efficient and reliable iron sources. Additionally, HBI's benefits, such as lower carbon emissions and reduced energy consumption compared to traditional blast furnace processes, align with the industry's push towards more sustainable practices.

The market for HBI is also influenced by fluctuations in iron ore prices and environmental regulations. As steel producers seek to optimize their production processes and reduce their carbon footprint, HBI's role as a cleaner alternative to scrap metal and traditional iron sources becomes more prominent. Furthermore, the expansion of steelmaking capacities in developing regions and investments in new HBI production facilities are expected to drive market growth. However, the market's trajectory may be affected by global economic conditions, trade policies, and shifts in steel demand patterns.

This report is a detailed and comprehensive analysis for global Hot Briquetted Iron (HBI) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Fe Content and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Hot Briquetted Iron (HBI) market size and forecasts, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Hot Briquetted Iron (HBI) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Hot Briquetted Iron (HBI) market size and forecasts, by Fe Content and by Application, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Hot Briquetted Iron (HBI) market shares of main players, shipments in revenue ($ Million), sales quantity (K MT), and ASP (USD/MT), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Hot Briquetted Iron (HBI)

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Hot Briquetted Iron (HBI) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Metalloinvest, Orinoco Iron, Voestalpine, Jindal Shadeed, Cleveland-Cliffs, Essar Steel, Lisco, Comsigua, Lion Group, JSW Steel, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Hot Briquetted Iron (HBI) market is split by Fe Content and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Fe Content, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Fe Content
90-92%
Above 92%

Market segment by Application
Electric Arc Furnaces
Blast Furnaces
Basic Oxygen Furnaces
Others

Major players covered
Metalloinvest
Orinoco Iron
Voestalpine
Jindal Shadeed
Cleveland-Cliffs
Essar Steel
Lisco
Comsigua
Lion Group
JSW Steel

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Hot Briquetted Iron (HBI) product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Hot Briquetted Iron (HBI), with price, sales quantity, revenue, and global market share of Hot Briquetted Iron (HBI) from 2020 to 2025.

Chapter 3, the Hot Briquetted Iron (HBI) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Hot Briquetted Iron (HBI) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Fe Content and by Application, with sales market share and growth rate by Fe Content, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Hot Briquetted Iron (HBI) market forecast, by regions, by Fe Content, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Hot Briquetted Iron (HBI).

Chapter 14 and 15, to describe Hot Briquetted Iron (HBI) sales channel, distributors, customers, research findings and conclusion.