Global Hot Briquetted Iron (HBI) Market Overview
Product Overview and Scope of Hot Briquetted Iron (HBI)
Hot Briquetted Iron (HBI) is a type of direct reduced iron (DRI) that is compacted and formed into briquettes while still hot. It is a product of the direct reduction of iron ore in a process that involves the removal of oxygen from iron oxides at elevated temperatures. The result is a high-density, easily transportable, and non-meltable iron product.
The process of producing HBI involves removing oxygen from the iron ore, typically using natural gas as a reducing agent in a rotary hearth furnace or similar equipment. The reduction of oxygen content in the iron ore results in a highly pure and concentrated form of iron that can be used as a valuable feedstock in electric arc furnaces (EAF) and other iron-making processes.
HBI has several advantages over traditional iron ore feedstocks like iron ore pellets and sinter. It has a higher iron content, and lower impurities, and is less sensitive to changes in market conditions since it is already in a compact form. Due to its excellent physical properties and consistent chemical composition, HBI is favored by steelmakers who seek to improve the efficiency and quality of their steel production processes. Additionally, its compact nature makes it easier to handle, transport, and store compared to loose iron ore fines.
HBI is often used as a feedstock in electric arc furnaces (EAF) for steelmaking or as a supplement to blast furnace iron in the production of steel. Its high quality, consistency, and environmental benefits have made it a valuable alternative to other iron sources in the steel industry.
HBI shares these operational advantages with other forms of DRI:
• For the optimum total charge economics, combine with other metallics.
• To maximise power-on time and enhance bath weight, it can be continually fed.
• increases foamy slag and lowers the nitrogen level in the EAF protects refractory to minimise damage
• both successful in AC and DC furnaces, whether operating with a long or short arc
• compatible with oxygen and injected fuels
• Mass and heat balances that are predictable
Characteristics of HBI provide other benefits:
• Rapid penetration of the furnace slag layer is made possible by the material's high density (5.0 g/cm3) and increased thermal and electrical conductivity.
• fewer particles are produced during transportation, handling, and storage
• Simple to handle, store, and move in any weather conditions and using common materials handling tools.
• cheaper and safer for ocean transportation
Global Hot Briquetted Iron (HBI) Market –Industry Analysis
Market Drivers
-
Increasing demand for steel, which is used in various applications such as construction, automotive, and infrastructure drive the market Hot Briquetted Iron (HBI) Market growth
The construction, automotive, and infrastructure industries are some of the major end-use industries that consume steel. The demand for steel is expected to increase in the coming years due to the growing population, urbanization, and infrastructure development in emerging economies. This increasing demand for steel will drive the demand for Hot Briquetted Iron (HBI), which is a key raw material in the production of steel. Steel is a versatile and essential material used in various industries, including construction, automotive, infrastructure, manufacturing, and many others. Steel is widely used in the construction sector for building structures like bridges, high-rise buildings, stadiums, and residential properties. The booming construction industry, especially in developing countries, drives the demand for steel. Steel is a crucial material in the automotive sector. It is used in car bodies, chassis, and various components due to its strength, durability, and safety features. As the automotive industry expands or undergoes advancements, the demand for steel also rises.
Furthermore, the increasing demand for electric vehicles is also expected to drive the demand for steel, as electric vehicles require more steel than traditional internal combustion engine vehicles. This trend is expected to continue in the coming years, further driving the demand for HBI.
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The development of new technologies, such as the Direct Reduction of Iron (DRI) process which drive the market growth
Global Hot Briquetted Iron (HBI) Revenue by Region (2018-2023)
Global Hot Briquetted Iron (HBI) Revenue and Market Share (%) by region (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
CAGR |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia-Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
XX |
XX |
3.1% |
North America is a leading consumer of HBI. The use of environmentally friendly technologies is being pushed by the stringent regulations on carbon emissions during the production of steel in the United States. For instance, the majority of the world's largest steel companies, including Nucor and ArcelorMittal, are switching from blast furnaces to HBI technology.
Additionally, the expanding steel industry is positively impacted on the HBI. Steel is used extensively in many different industries, including construction, oil and gas, appliances, industrial machinery, and automobiles. Steel is in high demand in the North American region because of the oil and gas industry. Thus, North America dominated the market share throughout the forecast period.
Global Hot Briquetted Iron (HBI) Market Segmentation Analysis
Global Hot Briquetted Iron (HBI) Market Segmentation Analysis
• Gas
• Coal
|
Global Hot Briquetted Iron (HBI) Market, by Process |
|
|
|
Source: Cognitive Market Research |
Based on the process, the Hot Briquetted Iron (HBI) market is bifurcated into gas and coal. The gas segment dominated the market share owing to the easy availability of natural gas in developing regions. The gas-based process for producing Hot Briquetted Iron (HBI) is a method of directly reducing iron ore fines or pellets using a gaseous reducing agent. The gas-based process is more energy-efficient compared to the traditional method. It requires lower energy input for the direct reduction of iron ore, as natural gas or other gaseous fuels serve as the reducing agent. This leads to reduced greenhouse gas emissions and a smaller environmental footprint.
Global Hot Briquetted Iron (HBI) Market by Type:
• Fe Content 90-92%
• Fe Content >92%
Global Hot Briquetted Iron (HBI) Market by Application:
• Electric Arc Furnaces
• Blast Furnaces
• Basic Oxygen Furnaces
Global Hot Briquetted Iron (HBI) Market Players
• JSW Steel
• Metalloinvest
• Orinoco Iron
• Voestalpine
• Jindal Shadeed
• Qatar Steel
• Essar Steel
• Lisco
• Comsigua
• Lion Group
Global Hot Briquetted Iron (HBI) Market Related Reports
• Global Direct Reduced Iron Market
• Global Iron Oxide Pigments Market
• Global Iron Powder Market
Global Hot Briquetted Iron (HBI) Manufacturers Profiles/Analysis
JSW
JSW Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
JSW |
|
2 |
Website |
www.jswsteel.in |
|
3 |
Established Date |
1982 |
|
4 |
Headquartered |
India |
|
5 |
Market Position/ History |
JSW was established in 1982 and is headquartered in India. It has a presence in India, USA, Italy, South America & Africa. It has over ~11,000 exclusive and non-exclusive retail outlets and a geographical presence in more than 100 countries. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
India, United States, Italy |
|
8 |
Ticker |
NSE |
|
9 |
No. of Employees |
Over 13,159 employees |
|
10 |
Competitors |
|
|
11 |
CEO |
Mr. Jayant Acharya |
|
12 |
Ownership Type |
Public |
|
13 |
Contact Information |
Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 Tel.: +91 22 - 42861000 Fax: +91 22 - 42863000 |
Business Segment/ Overview:
JSW is an India-based steel manufacturer company. It has a production capacity of 28.5 MTPA and has 14 manufacturing facilities in India. It has a footprint in over 100 countries. products offered by the company are available under the brands JSW Everglow, JSW Colouron+, JSW Pragati, JSW Viswas, JSW Viswas+, JSW Galvos and others. The product range of the company includes direct reduced iron (DRI) or hot briquetted iron (HRI), hot rolled steel, cold rolled, color coated, galvanized, galvalume, Avante steel doors, TMT bars, wire rods,and specially alloy steel. Furthermore, the company has a wide range of manufacturing units including Salav Works, Vijayanagar Works, Dolvi Works, Vasind Works, and others. The salav works manufacturing hot briquetted iron or direct reduced iron products.
Application industries
• Automotive
• General engineering
• Machinery
• Projects and Construction
• Others
Hot Briquetted Iron Product Types Specification
|
Product |
Description |
|
Hot Briquetted Iron |
The company’s salav work manufacturing unit specialized in offering reduced iron and briquette iron products. Capacity: 1.00 MTPA |
Business Strategy
JSW is investing in research and development, to manufacture innovative products to meet the demands of the customers. It continues to enhance its capabilities to meet the rapidly changing global market needs. It has entered into technological collaboration with JFE Steel Corp, Japan to manufacture high-strength and advanced high-strength steel for the automobile sector.
The company has also entered into a joint venture with Marubeni-Itochu Steel Inc. Tokyo, to set up a state–of–the–art steel processing centers and to strengthen its global network. Moreover, the company is also involved in strategic acquisitions, to strengthen its product portfolio. The company has received several awards and recognitions which is also helping in the growth of the company.
