Hot Briquetted Iron (HBI) Additives - Global Strategic Business Report

The global market for Hot Briquetted Iron (HBI) Additives was valued at US$282.4 Million in 2024 and is projected to reach US$399.1 Million by 2030, growing at a CAGR of 5.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Hot Briquetted Iron (HBI) Additives market.

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.

Report Scope

The report analyzes the Hot Briquetted Iron (HBI) Additives market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

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.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Binders segment, which is expected to reach US$111.9 Million by 2030 with a CAGR of a 7.0%. The Fluxing Agents segment is also set to grow at 6.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $76.9 Million in 2024, and China, forecasted to grow at an impressive 9.5% CAGR to reach $81.7 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Hot Briquetted Iron (HBI) Additives Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Hot Briquetted Iron (HBI) Additives Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Hot Briquetted Iron (HBI) Additives Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Arij Global Trading, BASF SE, Carmeuse, Elkem ASA, Emirates Steel and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 34 companies featured in this Hot Briquetted Iron (HBI) Additives market report include:

• Arij Global Trading
• BASF SE
• Carmeuse
• Elkem ASA
• Emirates Steel
• Essar Steel
• Evonik Industries
• Glencore
• Höganäs AB
• JSW Steel Ltd
• Lhoist
• Libyan Iron and Steel Company
• Metalloinvest
• Qatar Steel
• Sibelco
• SMS group GmbH
• Stena Metal Inc.
• The Lubrizol Corporation
• Tosyali Holding
• Voestalpine AG

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What's Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry