Hot Briquetted Iron (HBI)

Rising demand for HBI to overcome problems associated with DRI during shipping and handling is driving the global Hot Briquetted Iron (HBI) market. Compaction process of HBI is less porous and reactive than DRI; therefore, it does not create self-heating issues. This, in turn, is anticipated to propel the demand for global hot briquetted iron (HBI) market during the forecast period. Additionally, most manufacturers of steel across the globe are shifting their modes of production of steel from traditional blast furnace technology to electric furnace process due to increasing environmental pollution. These factors are expected to increase the demand of global hot briquetted iron (HBI) market significantly during the forecast period. High production cost and lack of consumer awareness are likely to hamper the global hot briquetted iron (HBI) market during the forecast period.