Global Hot Briquetted Iron (HBI) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hot Briquetted Iron (HBI) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hot Briquetted Iron (HBI) is a premium form of Direct Reduced Iron (DRI) that has been compacted at a temperature greater than 650° C at the time of compaction and has a density greater than 5,000 kilograms per cubic meter (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.

Market Overview:


The latest research study on the global Hot Briquetted Iron (HBI) market finds that the global Hot Briquetted Iron (HBI) market reached a value of USD 3678.16 million in 2022. It’s expected that the market will achieve USD 4069.64 million by 2028, exhibiting a CAGR of 1.7% during the forecast period.

Development of the steel industry

The development of downstream markets is expected to boost consumer demand for Hot Briquetted Iron (HBI) products. Hot Briquetted Iron (HBI) products are mainly used in the steel industry. The development of construction, construction machinery, automobiles, home appliances and other fields determines the prosperity of the steel industry.

In terms of construction and machinery demand, infrastructure investment, as an important counter-cyclical adjustment tool, keeps growing in recent years, effectively driving the demand for steel. For example, China's 14th Five-Year Plan (2021-2025) emphasizes increasing investment in new infrastructure, promoting the construction of key urban agglomerations, inter-city railways and urban (suburban) railways, and promoting the renovation of old residential areas in cities. In the next 1-2 years, large-scale investment in infrastructure construction can still be maintained. In November 2021, President Biden signed a $1 trillion bipartisan infrastructure bill into law. This infrastructure bill created $550 billion in new funds for transportation, broadband and utilities. While funding from this bill will be distributed over a 5-year period, it could see an increase in funding for road infrastructure projects starting in 2022. These projects could create higher demand for stainless steel materials used in infrastructure and road plate applications in the second half of 2022.

With the development of the world economy and the improvement of global consumption level, the demand for diversified, personalized and customized household appliances is also increasing. For example, the Data released by The China Household Electrical Appliances Association shows that the income of China's home appliance industry will achieve rapid growth in 2021. The data shows that the main business income of the home appliance industry will reach 1.73 trillion yuan in 2021, with a year-on-year growth of 15.5%. In addition, national policies are also conducive to the growth of the demand for household appliances. The National Development and Reform Commission of China issued the Notice on Promoting Consumption in the Near Future, supporting enterprises of household appliances and furniture to carry out activities of replacing old ones with new ones and replacing old ones with new ones, and encouraging reasonable renewal of household appliances.

Therefore, the continuous investment in infrastructure and the development of other downstream industries will help promote the development of steel industry. It is also the reason why Hot Briquetted Iron (HBI) products maintain stable market demand.

Region Overview:


In 2021, the share of the Hot Briquetted Iron (HBI) market in Asia Pacific stood at 43.32%.

Company Overview:


Metalloinvest, oestalpine, Lion Group were the top 3 players in the Hot Briquetted Iron (HBI) market in 2021, taking up a market share of 68.12% together.

Segmentation Overview:


By type, Fe Content 90-92% segment accounted for the largest share of market in 2021.

Application Overview:


The market's largest segment by application is the segment Electric Arc Furnaces, with a market share of 60.77% in 2021.

Key Companies in the global Hot Briquetted Iron (HBI) market covered in Chapter 3:

Qatar Steel
Metalloinvest
Comsigua
Lion Group
Voestalpine
Lisco
JSW Steel

In Chapter 4 and Chapter 14.2, on the basis of types, the Hot Briquetted Iron (HBI) market from 2018 to 2029 is primarily split into:

Fe Content 90-92%
Fe Content above 92%

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hot Briquetted Iron (HBI) market from 2018 to 2029 covers:

Electric Arc Furnaces
Blast Furnaces
Basic Oxygen Furnaces
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)