I have a daily CSV file that is about 350MB. Using a macro to delete the rows I do not need, the resulting .xlsb file is 13MB.
I discovered Power Query for Excel, and I can get the exact same data as the macro (number of columns and rows are identical) the resulting .xlsb file is 40MB!
After a lot of investigating, I believe it is the formatting of Power Query that is the main issue. Removing all formatting from the sheet, the file shrinks to 20MB.
However, I cannot figure out what else might be creating the 7MB difference.
If I convert the 40MB .xlsb file to text, and then back to .xlsb, the file size ends up being 13MB.