Graphite Electrodes Market- By Type (Ultra High Power (UHP) Graphite Electrode, High Power (HP) Graphite Electrode, Regular Power (RP) Graphite Electrode), By Application (EAF (Electric Arc Furnace), LF (Ladle Furnace) & Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Graphite Electrodes Market held USD 4431.49 million in 2020 and is to grow with a CAGR of 6.2 % from 2020-2030. Due to the structure of graphite , which is made up of a high number of delocalized electrons, graphite electrodes are used in electrolysis, enabling the smooth flow of electricity to pass through graphite easily. Graphite electrodes have excellent resistance, high electrical & thermal conductivity to  the temperature and ultra-high resistance to bending, thus being one of key factors driving the global graphite electrodes market growth. For many years, graphite electrodes have been used in various domains, such as in ladle furnace (LF) and electric arc furnace (EAF) for steel processing, smelting processes, ferroalloy processing, and silicon metal, due to its properties like strong mechanical strength, machinability, thermal shock resistance, thermal expansion. Graphite electrodes boasts the largest market share. The tip of the graphite electrodes ranges up to 3000 degrees centigrade, which is almost half the sun's temperature. Rising demand in the steel, oil & gas, transportation, manufacturing, and automotive industries is expected to improve the graphite electrodes market.

Market Dynamics and Factors:

Steel companies around the world are seeing strong prospects for growth due to rapid industrialization and urbanization, which will contribute in graphite electrodes market growth. Graphite electrode is a fundamental component for producing high-quality steel in the smelting process. Graphite electrodes are able to withstand high heat dissipation, have good electrical conductivity and demonstrate high mechanical strength, making them suitable for steel production. Increasing high-quality steel consumption in sectors such as manufacturing and building, automotive, and aviation would contribute to a proportionate increase in demand for graphite electrodes, thus fuelling the rise of graphite electrodes market. The growth in demand for UHP graphite electrode is one of the main market developments for graphite electrodes which will have a positive effect on global steel market and graphite electrodes market. UHP can work in electric furnaces with both AC and DC and has higher thermal and electrical conductivity than other types of products. UHP can also melt steel scrap to quickly produce steel. Therefore it is highly favored by steel producers, and its demand is expected to increase significantly in the coming years, which will also effect the growth of graphite electrodes market.

Market Segmentation:

Based on the product type, the graphite electrodes market is segmented into Ultra high power (UHP) graphite electrode, High power (HP) graphite electrode, Regular power (RP) graphite electrode. On the basis of application, the market is classified into EAF (Electric Arc Furnace), LF (Ladle Furnace) & Others. Geographic segments of graphite electrodes market includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

In the forecast period Asia-Pacific is projected to remain the largest region for the consumption of graphite electrodes thus driving the graphite electrodes market. By the global EAF process, China and India are the largest and second largest steel producing countries worldwide and having a contributing share in graphite electrodes market. North America is responsible for holding the highest shares of the market. Due to adoption of the latest trends in technology and innovative techniques to improve the quality of the products is  responsible for the graphite electrodes market growth. Also, increase in disposable income in urban areas is also increasing the demand of the graphite electrodes market.

Competitive Scenario:

Few key players of Global Graphite Electrodes Market are, GRAFTech International, Showa Denko K.K.,  HEG Ltd., Graphite India Limited (GIL), Ltd., Energoprom, Fangda Carbon New Material Co. Ltd., Sangraf International, SEC Carbon, Limited, Tokai Carbon Co., and Nippon Carbon.

Graphite Electrodes Market Report Scope