Graphite Electrodes Market – Global Industry Analysis And Forecast (2022-2029)

Graphite Electrodes Market was valued at US$ 6.4 Bn. in 2021. The Global Graphite Electrodes Market size is estimated to grow at a CAGR of 5.2 % over the forecast period.
Graphite Electrodes Market Overview:
Graphite Electrodess are large cylindrical structures made up of petroleum needle coke and coal tar pitch and is mainly used in an electric arc furnace. It is used to refine steel in ladle furnaces and in other smelting processes. It provides a high level of electrical conductivity and the capability of sustaining extremely high levels of generated heat. The rising demand for steel and the rising use of graphite in the production of lithium-ion batteries are the major factors driving the growth of the Graphite Electrodes market. The oil and gas sector has further enhanced the use of electric arc furnaces (EAF) because of the increasing requirement for anti-corrosive products for oil & petroleum wells and pipelines. China dominates the market in terms of consumption and production capacity of Graphite Electrodess in the global scenario.

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Graphite Electrodes Market Dynamics:
The major factor driving the growth of the Graphite Electrodes market is the rise in industrialization with modern infrastructures and increasing demand for engineering and construction materials with the surge in production of steel and iron. The rise in the spending on the construction of huge infrastructure will surge the demand for steel and aluminum-based materials which directly boost the growth of the market. Infrastructure spending is expected to reach 9 trillion by 2029.

The market is growing since there is no other material that can replace graphite in the EAC process. The market's growth is being hampered by the high cost of electrode maintenance and installation, as well as the rising value of waste. Demand for thermal resistant materials and rising capital income are the factors encouraging the development and growth of the market through the forecast period.
Graphite Electrodes Market Trends:
Graphite Electrodes is bsically used in the electric arc furnace steelmaking process to melt steel scrap. Electrodes are made up of synthetic graphite because of their ability to withstand high temperatures. EAF technology to dominate the market during the forecast period. To create one metric tonne of steel, an average EAF is anticipated to need about 1.7 kg of Graphite Electrodess. The price increase can be ascribed to worldwide industry consolidation, capacity shutdown in China due to environmental regulations, and EAF production growth.

Graphite is widely used in the aerospace industry to improve fuel efficiency. Aircraft manufacturers such as Boeing and Airbus are increasingly using composites manufactured using graphite. It is also suitable for use in military applications, where high heat tolerance, strength, and rigidity are required.

COVID-19 Impact on Graphite Electrodes Market:

The COVID-19 crisis affected the industries worldwide, and the global economy take the worst hit in the year 2021-2029. There was a slight decline in demand, logistics slowdown and significant disruptions in the steel industry that affected the growth of the Graphite Electrodes. The production slowdown in the construction industry is directly affected the adoption of various steel products.
Graphite Electrodes Market Segment Analysis:
Based on Product Type, Graphite Electrodes Market is segmented into Regular power, high power and ultra-high power (UHP). UHP has dominated the market accounting for 41% of the total market share in 2021. The segment growth is attributed to properties such as high durability, maximum heat resistance, and its superior quality and efficiency. In electric arc furnace industry it is utilized for recycling steel and its main constituent is high value needle coke which is produced from either petroleum or coke. UHP is estimated to grow at 5.7% CAGR during the forecast period.

Based on Application: The Market is segmented into electric arc furnace, ladler furnace and others. EAF is a steel making furnace, in which steel scrap is heated and melted by heat of electric arcs striking between the furnace electrodes and the metal bath. Direct current and alternating current are two kinds of electric current used in EAF. About 33% of the crude steel in the world is made in the EAF. EAF is the most dominating segment in the market accounting for more than 65% of the total market share. The ladle furnace is used to relieve the primary process of steel making of many of the secondary refining operations.
Graphite Electrodes Market Regional Insights:
Asia Pacific has the highest market share in 2021 in terms of volume as well as revenue, and anticipated to maintain its dominance throughout the forecast period because China and India are the major producer of steel in the global market. The China occupies the largest share in terms of consumption and production capacity of Graphite Electrodes in the global scenario even through the COVID-19 outbreak, the Chinese steel industry showed significant recovery in 2021 yet the production declined in 2021. On March 2021 China introduced a new regulation on pollutant discharge permits, which is expecetd to boost the EAF steel production trend in the country. China is expected to remain among the fastest growing in this cluster of regional markets.

The objective of the report is to present a comprehensive analysis of the global Graphite Electrodes Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Graphite Electrodes Market dynamic, and structure by analyzing the market segments and projecting the Graphite Electrodes Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Graphite Electrodes Market make the report investor’s guide.
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Global Graphite Electrodes Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 6.4 Bn.


Forecast Period 2022 to 2029 CAGR:
5.2%
Market Size in 2029:
US $ 9.60 Bn.


 Segments Covered:
by Product Type
• Regular power
• High power
• Ultra-high power


by Application
• Eelectric arc furnace
• Ladler furnace
• Others



Graphite Electrodes Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Graphite Electrodes Market Key Players:
• Nantong Yangzi Corbon Co. Ltd
• SGL Carbon
• Fangda Carbon New Material Co. Ltd.
• Sangraf International
• SEC Carbon Limited
• Nippon Carbon
• Beijing Great Wall Co., Ltd.
• Ameri-Source Specialty Products
• Tokai Carbon Co., Ltd
• Schutzcarbon
• EPM Group
• Showa Denko K.K.
• GRAFTech International
• Graphite India Limited (GIL)
• HEG Ltd.
• Tokai Carbon Co., Ltd.
• Energoprom
• Jilin Corbon Co. Ltd
• Kaifeng Corbon Co. Ltd
Frequently Asked Questions
1) What are the factors behind the growth of Graphite Electrodes market?
Ans- Steel industry is on transition of new era. Over the next decade steel will frequently be made by recycling domestic scrap.

2) Which product type is likely to hold the major share of the global graphite market?
Ans- UHP Graphite Electrodes is utilized for recycling steel in the electric arc furnace industry and are expected to hold the highest market share.

3) What is the breakup of market based on product type?
Ans- Based on product type the market is segmented into ultra-high power, High power, Regular power.