Green steel market intelligence
Hydrogen-based steelmaking, DRI capacity, and industrial decarbonization.
Steel production accounts for approximately 7–8% of global CO₂ emissions, making it one of the hardest-to-abate industrial sectors. The dominant production route — blast furnace plus basic oxygen furnace (BF-BOF) — relies on coking coal as both a heat source and chemical reducing agent, creating a fundamental emissions challenge that efficiency improvements alone cannot solve.
Hydrogen-based direct reduced iron (H₂-DRI) combined with electric arc furnaces (EAF) has emerged as the leading decarbonization pathway for primary steelmaking. By replacing coal with hydrogen as the reducing agent, H₂-DRI can cut steelmaking emissions by up to 95%. BloombergNEF projects that 64% of primary steel production could use H₂-DRI-EAF by 2050. IDTechEx estimates hydrogen-based green steel production will reach 46 million tonnes by 2035.
Europe moved first — SSAB/HYBRIT in Sweden delivered the world's first fossil-free steel in 2021, and H2 Green Steel is building a 2.5 million tonne facility in Boden. But the competitive landscape is shifting fast. China has announced multiple H₂-DRI projects across Guangdong, Inner Mongolia, and Hebei. India's National Green Hydrogen Mission allocates funding for pilot steel projects. The Middle East and Australia are positioning as green iron ore and HBI export hubs, leveraging low-cost renewable energy and proximity to high-grade iron ore deposits.
The core challenge remains hydrogen cost. Green steel requires hydrogen at $2–3/kg to achieve cost parity with conventional steelmaking — significantly below current production costs in most regions. This economic gap is driving policy interventions including the EU Carbon Border Adjustment Mechanism (CBAM), carbon contracts for difference, and targeted industrial subsidies. Delphidata tracks the full green steel ecosystem: DRI projects, hydrogen supply infrastructure, EAF capacity additions, steelmaker strategy commitments, iron ore supplier positioning, and the policy frameworks shaping investment decisions.
What Delphidata tracks.
Structured data across the full value chain.
H₂-DRI and EAF projects
Hydrogen-based direct reduction facilities and electric arc furnace capacity additions worldwide. Each project mapped with technology type (shaft furnace, fluidized bed, plasma), hydrogen supply source, DRI/HBI capacity (tonnes per year), iron ore specification requirements, EPC contractor, timeline, and investment value.
Steelmaker decarbonization strategies
Major steel producers' announced pathways — from pilot demonstrations to commercial-scale commitments. Tracking ArcelorMittal, ThyssenKrupp, SSAB, Tata Steel, POSCO, Baosteel, Nippon Steel, US Steel, and dozens of others across their DRI investment plans, FID timelines, and production targets.
Iron ore supply chain
High-grade iron ore (67%+ Fe) is essential for DRI production. Tracking which miners (Rio Tinto, Vale, Fortescue, BHP) are developing DR-grade pellet feed, beneficiation capacity, and strategic partnerships with green steel developers. Connected to the specific projects each supplier feeds.
Hydrogen supply integration
The hydrogen production infrastructure supporting green steel — electrolyzer installations co-located with DRI plants, dedicated renewable energy capacity, hydrogen pipeline connections, and hydrogen purchase agreements linking green steel facilities to hydrogen suppliers.
Policy and commercial frameworks
EU CBAM carbon pricing, green steel procurement mandates, carbon contracts for difference (CCfDs), IPCEI steel decarbonization funding, and green steel certification schemes (ResponsibleSteel, SteelZero). Tracking how policy translates into actual project economics and investment decisions.
Who uses this intelligence.
Steel producers and industrial groups
Benchmark decarbonization strategies against peers, evaluate H₂-DRI technology options, monitor competitor project timelines, and assess the commercial viability of green steel investments across different regions and policy environments.
Investors and project finance teams
Screen green steel investment opportunities by technology maturity, hydrogen supply security, iron ore access, and policy support. Use the project database to evaluate developer track records and identify commercially viable projects approaching FID.
Iron ore miners and raw material suppliers
Track which green steel projects require DR-grade pellet feed, identify partnership opportunities with DRI developers, and assess the evolving specifications for iron ore quality as hydrogen-based steelmaking scales.
Hydrogen producers and electrolyzer manufacturers
Identify demand pull from the steel industry, track co-location requirements for electrolyzer capacity at DRI sites, and monitor hydrogen purchase agreement structures emerging across the green steel value chain.