Green steel is forecast to comprise up to 50% of global steel production by 2050. As the world decarbonises, steel producers are looking at reducing the carbon emissions associated with their production processes.
Steel production, due largely to its scale, has
been estimated to account for ~8% of global CO2 emissions. In particular, the
use of metallurgical coal in conventional blast furnaces is the major source of
emissions in the industry.
In contrast, using hydrogen for iron ore reduction
results in H
2O (water) as a byproduct instead of CO
2.
This method produces DRI, which is then briquetted into HBI and supplied to
steelmakers for steel production.
Further reductions in carbon emissions are achieved
by incorporating renewable energy sources in both the production process and
hydrogen generation.
Developing technologies to reduce carbon emissions
in this sector is critical, especially as iron ore production is projected to
increase to 2.6Bt by 2030, up from the current 2.3Bt.