PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1731820
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1731820
Global Hot Briquetted Iron (HBI) Additives Market to Reach US$399.1 Million by 2030
The global market for Hot Briquetted Iron (HBI) Additives estimated at US$282.4 Million in the year 2024, is expected to reach US$399.1 Million by 2030, growing at a CAGR of 5.9% over the analysis period 2024-2030. Binders, one of the segments analyzed in the report, is expected to record a 7.0% CAGR and reach US$111.9 Million by the end of the analysis period. Growth in the Fluxing Agents segment is estimated at 6.6% CAGR over the analysis period.
The U.S. Market is Estimated at US$76.9 Million While China is Forecast to Grow at 9.5% CAGR
The Hot Briquetted Iron (HBI) Additives market in the U.S. is estimated at US$76.9 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$81.7 Million by the year 2030 trailing a CAGR of 9.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
Global Hot Briquetted Iron (HBI) Additives Market - Key Trends & Drivers Summarized
Why Are Additives Becoming Essential to Hot Briquetted Iron (HBI) Processing and Performance?
Hot Briquetted Iron (HBI) is a compacted form of Direct Reduced Iron (DRI) that is primarily used in electric arc furnaces (EAF) and blast furnace operations as a premium charge material. To optimize HBI quality, handling, metallurgical properties, and furnace efficiency, a range of chemical and mineral additives are increasingly incorporated during the briquetting or post-production phases. These additives play a pivotal role in improving mechanical strength, thermal stability, oxidation resistance, and reactivity of HBI-especially as global steelmakers demand more efficient, low-emission ironmaking solutions.
As steel production shifts toward decarbonization and scrap alternatives, HBI is emerging as a preferred feedstock due to its high iron content and lower impurity levels compared to traditional pig iron or scrap. Additives such as binders, carbonaceous materials, anti-reoxidation agents, and fluxing minerals are being adopted to enhance the physical and chemical attributes of HBI and to tailor it for specific steelmaking environments. The integration of such additives ensures optimal performance in diverse furnace configurations and contributes to more stable metallurgical reactions.
How Are Formulation Technologies and Material Innovations Transforming HBI Additives?
Technological advancements in the formulation of HBI additives are improving both the efficiency of the briquetting process and the in-use performance of the final product. Modern additive systems include inorganic binders like bentonite, hydrated lime, and cement, which enhance green and cured briquette strength. Organic additives such as polymers and molasses are also being tested for their ability to improve cold and hot strength without increasing sulfur or phosphorus content. Furthermore, anti-reoxidation coatings-often made from alumina, boron, or silicon-based compounds-are being applied to reduce surface oxidation and maintain metallization during storage and transport.
Additionally, additives are being customized based on the type of iron ore, reduction method (gas-based or coal-based DRI), and downstream steelmaking process. Innovations such as nanostructured coatings, catalytic promoters for carbon removal, and hybrid additive systems are gaining ground, especially among producers targeting premium-grade, low-carbon steel output. These advancements are aligned with the industry’s broader goal of increasing HBI utilization in EAF-based green steel production while reducing operational emissions and enhancing furnace productivity.
Which End-Use Industries and Regions Are Driving Demand for HBI Additive Solutions?
The steel manufacturing industry-particularly electric arc furnace operators-is the principal consumer of HBI and related additive products. As more steelmakers seek scrap substitutes to improve steel purity and reduce dependency on volatile scrap markets, demand for high-quality, consistent HBI feedstock is rising. Additives ensure that HBI meets stringent physical and metallurgical standards, particularly for long-distance transport, export use, and storage in humid or oxidizing environments.
Geographically, North America and the Middle East are among the leading HBI producers and users, with large-scale plants in the U.S., Mexico, and Oman. Europe’s increasing adoption of EAF technology under green steel mandates is generating rising interest in additive-enhanced HBI. Emerging markets in Asia-Pacific-particularly India and Vietnam-are also scaling up HBI production, creating opportunities for additive suppliers to support quality standardization and process optimization. As global steelmaking transitions to more sustainable methods, the demand for HBI-compatible additives is expected to broaden across all major steel-producing regions.
The Growth in the HBI Additives Market Is Driven by Several Factors…
The growth in the HBI additives market is driven by several factors including the global shift toward low-carbon steel production, rising HBI utilization in EAF and hybrid furnace operations, and increasing demand for metallurgically consistent feedstock. Technologically, advances in additive formulations-ranging from strength enhancers to anti-oxidation agents-are enabling the production of more durable, high-performance briquettes. Innovations in coatings and binder systems are also reducing material degradation during handling and shipping, which is critical for international HBI trade.
From an end-use perspective, the surge in green steel initiatives, scrap quality variability, and expanding DRI/HBI capacity is fueling demand for tailored additive systems. The integration of HBI into decarbonized steelmaking processes, combined with the need for metallurgical efficiency and furnace optimization, is reinforcing the strategic value of additives. As steel producers invest in circular, high-efficiency production models, the use of HBI additives will continue to grow, aligning with the global trend toward cleaner, more controllable ironmaking inputs.
SCOPE OF STUDY:
The report analyzes the Hot Briquetted Iron (HBI) Additives market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Product Type (Binders, Fluxing Agents, Carbonaceous Materials, Reducing Agents, Antioxidants / Stabilizers, Alloying Elements, Deoxidizers, Desulfurizers); Additive Type (Metallic Additives, Non-Metallic Additives); Form (Powders, Briquettes, Granules); Application (Steel Production, Foundries & Castings)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 34 Featured) -
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!
APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA <> CHINA <> MEXICO <> CANADA <> EU <> JAPAN <> INDIA <> 176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
COMPLIMENTARY PREVIEW
Contact your sales agent to request an online 300+ page complimentary preview of this research project. Our preview will present full stack sources, and validated domain expert data transcripts. Deep dive into our interactive data-driven online platform.