Graphite Electrodes Market Report 2023: Share, Growth (CAGR of 5.9%), Cost Module and Business Opportunity By 2028
What is the Size of the Graphite Electrodes Market ? :
IMARC
Group's latest report, titled "Graphite Electrodes Market: Global
Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers
a comprehensive analysis of the industry, which comprises insights on the graphite electrodes market. The report also
includes competitor and regional analysis, and contemporary advancements in the
market. the global graphite electrodes market size reached US$ 6.2 Billion in
2022. Looking forward, IMARC Group expects the market to reach US$ 8.8 Billion
by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What
is Graphite Electrodes ? :
Graphite
electrodes refer to large cylindrical structures made using petroleum needle
coke and coal tar pitch. They are available in ultra-high power (UHP), high
power (HP), and regular power (RP) variants. Graphite electrodes conduct
electrical energy from power sources and convert it into heat which is utilized
to melt scrap metal. They have high thermal conductivity and low electrical
resistance, owing to which they can generate heat up to the temperature of 1600
degree Celsius. Graphite electrodes help to manufacture high-quality products
that can withstand high heat dissipation and exhibit enhanced electrical
conductivity and exceptional mechanical strength. Consequently, they find
widespread utilization in electric arc furnaces, blast oxygen furnaces, ladle
furnaces, etc., across the globe.
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Who are the Leader in Graphite Electrodes Market ? :
The
competitive landscape of the industry has also been examined along with the
profiles of the key players being
- Energoprom Group
- Fanda Carbon New
Material Co. LTD
- Graftech International
- HEG Limited
- Nantong Yangzi Carbon
Co. Ltd
- Graphite India
- SHOWA DENKO
- Beijing Great Wall Co.,
Ltd
- Nippon Carbon Co Ltd
- Ameri-Source Specialty
Products
- Tokai Carbon Co., Ltd
- Schutzcarbon
Graphite
Electrodes Market Demand, Development and Technology:
The
elevating usage of the product for manufacturing steel via electronic arc
furnace is among the key factors driving the graphite electrodes market. In
addition to this, the increasing focus among major market players across
countries on obtaining quality needle coke either through domestic procurements
or imports while securing technology for quality improvement is acting as
another significant growth-inducing factor. Apart from this, the inflating
demand for high-quality steel in numerous end-use sectors, such as
construction, aviation, automotive, etc., is also positively influencing the
market growth. Moreover, the rising availability of steel scrap and the
escalating employment of UHP graphite electrode to recycle steel is further
stimulating the market growth. Besides this, the shifting preferences toward
larger capacity ultra-high power arc furnaces that can adequately suffice the
need for lower total cost and higher work efficiency are expected to propel the
graphite electrodes market over the forecasted period.
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Key
Market Segmentation:
Breakup
by Product Type:
- Ultra-high Power
(UHP)
- High Power (HP)
- Regular Power
(RP)
Breakup
by Application:
- Electric Arc Furnace
- Ladle Furnace
- Non-Steel Application
Breakup
by Region:
- North America (United
States, Canada)
- Europe (Germany,
France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China,
Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil,
Mexico, Others)
- Middle East and Africa
(United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key
Highlights of the Report:
- Market Performance
(2017-2022)
- Market Outlook
(2023-2028)
- Porter’s Five Forces
Analysis
- Market Drivers and
Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping
of the Competitive Landscape
Note: If
you need specific information that is not currently within the scope of the
report, we can provide it to you as a part of the customization.
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