Global Graphite Electrodes Market was valued US$ XX Bn. in 2019 and is estimated to grow at CAGR of 4.09 %, to reach US$ XX Bn. during the forecast period 2020-2027.
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Graphite electrodes are heating element, which are used for smelting processes, silicon metal production, ferroalloy production and steel production through ladle furnace (LF) and electric arc furnace (EAF) because of its excellent conduction & high heat resistance properties. Graphite electrodes are manufactured by using petroleum needle coke, coal tar pitch and additives. They are typically used in the steel and non-ferrous products.
Global Graphite Electrodes Market, Dynamics:
An increase in demand for the graphite electrode, the needle coke availability has become a bottleneck. Needle coke is the primary raw material, which is used for the production of the graphite electrode from arc furnace in the steel industries. The demand for the Chinese graphite electrodes across the globe increased more sharply over the domestic consumption. The steel industry is relying on the EAF technology and demands for made in china electrodes. In China, more than 353,900 MT of graphite electrodes have been consumed, which is expected to increase at a 3.10% rate of CAGR. Graphite electrodes have characteristics that include high electrical & heat conductivity, low content of impurity, good electrical properties, high mechanical strength and chemical stability.
However, rise in cost is the real concern. A limited supply of electrodes and the potential for the disruptions are expected to limit the market growth. The strict environment regulations of carbon emissions, several coke production facilities across the China have shut down. With the introduction of the new environmental regulations in the China, most of the induction furnaces were replaced by the electric arc furnace, which consume graphite electrodes to melt steel scrape. The country has closed the capacity in the range of 100- 120million tons of induction Furness consisting of around 600 plants nationwide. The Chinese government identified some highly polluting industries and asked them to close down. The many graphite electrodes manufacturing capacity has been shut down in China due to the environment concern.
Global Graphite Electrodes Market: Segment Analysis
Based on the application, steel manufacturing is dominating the graphite electrode market and is expected to retain its dominance during the forecast period. Graphite electrode is widely utilized in manufacturing steel because of its high electrical conductivity property. It has also potential of sustaining the excessive heat as high as 5,000 degrees Fahrenheit generated by EAF which makes it’s suitable for manufacturing steel.
Based on the product type, ultra-high power (UHP) is expected to grow at a XX% rate of CAGR during the forecast period. The growth in the market is attributed to its characteristic properties like superior property, excellent thermal resistance, and high durability. An increase in demand for UHP graphite electrode is one of the key drivers in the graphite electrode market. UHP can function in both AC and DC electric furnaces. It has superior thermal and electrical conductivity over the other product types. UHP is also help to melt steel scrap for the production of steel quickly.
Global Graphite Electrodes Market: Geographical Analysis
Asia-Pacific is region held the dominant position in the global graphite electrodes market and is projected to continue its dominant position during the forecast period (2020-2027). The dominance in the market is mainly attributed to the expansion of the commercial & residential construction industry with rising production of motor vehicles boosting the demand for iron & steel and non-ferrous alloys positively fuelling the growth of the graphite electrode in the coming year.
The EAF steelmaking in China has witnessed significant capacity enhancement because of the surging environmental concerns and demand for the high specifications. An increase in the demand of graphite electrode for lithium batteries in the China has boosted the needle coke demand in the country. Many key players from different sector are focusing on the shifting their production unit to the Asia Pacific due to the availability of the cheap labor and drastically increasing economic growth rate and manufacturing industries.
Global Graphite Electrodes Market, Competitive Analysis:
Key players are gradually stepped up their investment in innovations across the globe, thanks to continuous focus on cost management, higher efficiency of the manufacturing process of the electrode graphite and the adaption of structures, which are able to partially, mitigate the impact on earnings and the profibility. Some of the prominent key players are focusing on the innovations activities and resources on the technology development and expanding partnership with other key players. An increase in prevalence for high-quality steel & thermal resistance material is attracting key players to invest in R&D activities. With the growth in the global population is propelling the market growth in developed & developing countries during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Graphite Electrodes Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has 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 report also helps in understanding Global Graphite Electrodes Market dynamics, structure by analyzing the market segments and projects the Global Graphite Electrodes Market size. Clear representation of competitive analysis of key players By Pathogen Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Graphite Electrodes Market make the report investor’s guide
Scope of the Global Graphite Electrodes Market:
Global Graphite Electrodes Market, By Product Type
• Ultra-high Power (UHP)
• High Power (HP)
• Regular Power (RP)
Global Graphite Electrodes Market, By Application
• Steel Production
• Silicon Metal Production
• Aluminum Production
Global Graphite Electrodes Market, By Region
• North America
• Asia Pacific
• The Middle East and Africa
• Latin America
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