DataM IntelligenceGlobal Graphite Electrode Market is Expected to Reach a CAGR of 4.4% during the forecast period (2022-2029).Market Overview
Graphite electrodes are a vital input for electric arc steel-making and ladle refinement of steel, as well as play an essential role in the automotive industry. Increasing use of graphite in lithium-ion batteries is the major factors driving the growth of the global market.
The global graphite electrodes market has observed notable growth in the recent years. The increased demand for high-quality steel is a significant factor driving the market’s growth.
According to World Steel Association, in 2016, 1630 million tonnes of crude steel was produced globally. In addition to, the shifting trend of steel manufacturers towards manufacturing steel via electric arc furnace over the blast furnace is also a prime determinant driving the market growth.
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Market Restraints
- The main restraint of the Graphite electrode is increasing price. The price has jumped almost five times in 2017. Because of the rising Chinese electrode consumption and restricted exports which may hamper the graphite electrode market in the coming years.
- Recently, EAF route gaining popularity worldwide and Needle Coke prices soaring four times from early 2017 levels. As a result overcapacity in the Electrode industry, six plants mainly in the USA and Europe had to be closed down over the last three to four years bringing down the Electrode capacity by around 200,000 MT.
Market Segmentation
1. By Type
1. Regular Power (RP)
2. High Power (HP)
3. Ultra-High Power (UHP)
2. By Application
1. Electric Arc Furnace (EAF)
2. Ladle Furnace (LF)
Geographical Share
- Geographically, the global market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa. Amongst all the regions Asia Pacific is expected to be the largest market and is likely to witness the highest growth over the years.
- China is the world’s largest graphite producer in 2017. It produced 780,000 MT of the metal, the same amount it produced the previous two years.
- According to the US Geological Survey, China accounted for 65% of world graphite mining last year, and 35% of consumption. Furthermore, India is also a major producer of graphite electrode, contributing 22% to the global production. Apart from GIL, which has 98,000-tonne capacity, HEG is the other large producer from India, manufacturing 80,000-tonne.
Competitive Trends
- GrafTech International, Graphite India Limited, Nippon Carbon Co., Ltd, TOKAI CARBON, HEG LIMITED, Kaifeng Carbon Co., Ltd, JILIN CARBON, SHOWA DENKO K.K., SANGRAF International, and Misano Group are prominent players of the graphite electrode market.
- In 2017, Tokai Carbon Co., Ltd. acquired SGL GE’s U.S. business to set up a manufacturing base in North America so that increasing the company’s presence in a prominent region of the Electric Arc Furnace market. The deal is expected to help Tokai build a solid business base as a global competitor, supported by a tri-regional structure consisting of bases in Asia, Europe, and North America.
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The Full Report has the below insights.
The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
Visualize the composition of Graphite Electrode Materials Market segmentation By Technology, service, By Application, and country, highlighting the key commercial assets and players.
By Type
By Application
Identify commercial opportunities in the Market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
Excel data sheet with thousands of Market-level 4/5 segmentation data points.
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Product mapping in excel for the key product of all major market player The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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