IDTechEx has forecasted that the widespread adoption of hydrogen-based direct reduced iron (DRI) production is over a decade away, unless hydrogen becomes much cheaper, and infrastructure is implemented at pace.
The UK-based independent research and consulting firm found that while hydrogen DRI is leading the green steel project pipeline globally, especially in Europe, the Middle East, the US, and China, the most immediate barrier is cost.
The report highlighted that steelmakers need low-carbon hydrogen at $2–3/kg, far below the current $4–8/kg for green hydrogen, which has prompted companies like ArcelorMittal to delay final investment decisions (FID).
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