Hot Briquetted Iron (HBI) is a product formed by pressing Direct Reduced Iron (DRI) to increase its density and have a certain size and shape. It is produced using direct reduction technology of fine ore, which has the characteristics of high purity and low harmful impurity content, which is conducive to the production of high-quality steel. The quality is uniform, the strength is high, the pulverization rate is low, and it is more conducive to safe transportation and open-pit storage. Hot briquetted iron is widely used in various fields due to its high precision, high strength and other characteristics.

Overview of Market Development

According to our research data, the estimated global hot briquetted iron market size in 2024 is $3536 million, a decrease of 2.58% from 2023. As an important raw material in the steel industry, the market trend of hot briquetted iron blocks is closely related to factors such as global economic conditions, steel demand, environmental policies, and technological innovation.

In the next few years, with the global economic recovery and the growth of steel demand, the hot briquetted iron block market is expected to recover and continue to grow. It is expected that by 2029, the global hot briquetted iron market size will increase to $4699 million. The CAGR for 2024-2029 is estimated to be 4.15%.

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global hot briquetted iron market is high. Data shows that in 2023, the total revenue share of the hot briquetted iron market for the top 3 companies i reached 66.60%. The top 3 companies were Metalloinvest, Voestalpine, and Lion Group. In 2023, these three companies accounted for 47.49%, 14.92%, and 4.19% of the global market revenue in the hot briquetted iron market, respectively.

Source: www.globalmarketmonitor.com

Segmented Market Analysis

From the perspective of product types, hot briquetted iron can be divided into two categories based on its iron content: iron content of 90-92% and iron content above 92%. Among them, hot briquetted iron with an iron content of 90-92% dominates the market, with an estimated market sales share of 75.03% in 2024.

From a regional perspective, the global hot briquetted iron market is dominated by three major regions: North America, Europe, and Asia Pacific. Among them, the Asia Pacific region is the largest sales market. Data shows that the estimated sales volume of hot briquetted iron in the Asia Pacific region in 2024 is 5370k tons, accounting for 46.89% of the global total sales volume.

	Sales Volume (K Tons)	Proportion
Segmented by Type
iron content of 90-92%	8593	75.03%
iron content of 90-92%	2860	24.97%
Segmented by Region
North America	2883	25.17%
Europe	2250	19.65%
Asia Pacific	5370	46.89%
South America	590	5.15%
Middle East & Africa	360	3.14%