USD 3.2 billion
Global Graphite Electrode Market Size, Share, Growth Analysis, By Electrode Grade(Ultra-High Power (UHP), High Power (SHP)), By Application(Steel, Nonferrous Metals) - Industry Forecast 2023-2030
Report ID:
SQMIG15J2065 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
69 |
Figures:
75
Global Graphite Electrode Market Insights
Graphite Electrode Market size was valued at USD 3.2 billion in 2021 and is poised to grow from USD 3.43 billion in 2022 to USD 5.85 billion by 2030, growing at a CAGR of 7.45% in the forecast period (2023-2030).
Large, cylindrical structures made of petroleum, coal tar pitch, and needle coke are called graphite electrodes. These electrodes are used to melt scrap metal and turn electrical energy into heat. Low electrical resistance and great heat conductivity characterize it. Thus, these electrodes are capable of producing heat up to 1600 degrees Celsius. These qualities allow them to be employed in steel production processes such as electric arc furnaces and blast oxygen furnaces. The market is anticipated to grow at a CAGR of 3% over the course of the forecast period as a result of the sharp rise in demand for steel.
Due to its characteristics, including their high mechanical strength, advantageous electrical properties, low impurity concentration, strong vibrational resistance, and chemical stability, the demand for steel has increased. The market has recently undergone changes that have taken into account the demand for reusing scrap materials like old cars. The market players have several chances as a result of the adoption of the reuse and recycling approach for metals. The global market has benefited from the use of graphite electrodes for recycling scrap.
US Graphite Electrode Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Ultra-High Power (UHP)
Fastest Growth
Ultra-High Power (UHP)
Growth Rate
7.45% CAGR
Global Graphite Electrode Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Graphite Electrode Market By Electrode Grade , 2021-2028($ Bn)
Global Graphite Electrode Market Size By Electrode Grade, 2021-2028 (%)
To get more reports on the above market click here to Buy The Report
Global Graphite Electrode Market Segmental Analysis
The Global Graphite Electrode Market is segmented based on electrode grade, application, and region. Based on Electrode Grade, it is categorized into Ultra High Power (UHP), High Power (SHP), and Regular Power (RP). Based on Application, it is categorized into Steel and Nonferrous Metals, Fused Materials, Inverted, Chemical Processing, Electric Arc Furnace (EAF), Ladle Furnace (LF), Basic Oxygen Furnace, and Non-steel Application. Based on region, Graphite Electrode Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Graphite Electrode Market Analysis by Electrode Grade
On the basis of electrode grade, the ultra-high power (UHP) segment is expected to lead the global market over the forecast period. In 2021, the ultra-high-power segment accounted for the biggest market share of these electrodes. The electric arc furnace (EAF) industry recycles steel using ultra-high power graphite electrodes. High-value needle coke, which is made from either coal tar or oil, is its principal component. They are created with threaded portions at either end and are finalized with a cylindrical shape. By employing electrode nipples in this manner, these electrodes can be put together into an electrode column. The large capacity ultra-high power arc furnaces are gaining popularity in order to meet the demands of lower cost and greater work efficiency. As a result, the market is anticipated to be dominated by ultra-high power graphite electrodes. In the market, this category is also anticipated to experience the greatest CAGR growth.
Global Graphite Electrode Market By Electrode Grade, 2021(%), 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Graphite Electrode Market Regional Insights
Based on the region, the Asia Pacific region currently dominates the global graphite electrode market and is expected to maintain its dominance over the forecast period. The main markets for graphite electrodes in Asia Pacific are China, India, and Japan. Over the course of the projected period, increased demand for high-quality steel will support the expansion of the graphite electrode market in APAC. In order to help vendors, create effective business plans, this market research report includes comprehensive information on the competition intelligence, marketing gaps, and geographical prospects available to them.
Global Graphite Electrode Market By Geography, 2021 - 2028, 2023-2030
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Graphite Electrode Market Dynamics
Graphite Electrode Market Drivers
- Rising demand for high quality steel
One of the major factors propelling the expansion of the worldwide graphite electrode market is the rise in demand for high-quality steel. Steel producers have a wide range of opportunities as a result of the rapid urbanization and industrialization of both developed and emerging countries. The main global end-users of steel are the building and construction, automotive, and aviation industries, which are also driving up demand for these. The demand for graphite electrodes, a key component required in the smelting process to produce high-quality steel, may rise as a result of the increased infrastructure spending. Additionally, the global market will continue to rise throughout the projected period due to the rising demand for steel in the oil and gas sector. Because of qualities including high electrical conductivity, capacity for greater heat dissipation, and exceptional mechanical strength, they are increasingly used in the production of steel. But throughout the projection period, demand for them would expand due to the sharp rise in steel consumption from major end-users such the construction, automotive, aircraft, mechanical, and oil & gas sectors.
Graphite Electrode Market Restraints
- The main factor limiting the growth of the global graphite electrode market is the capital-intensive nature of the industry. The market for graphite electrodes on a global scale is capital- and technology-intensive. Due to the oligopolistic character of this sector, which is capital-intensive, there is no threat from new competitors. The producers are rapidly switching from blast and ladle furnaces to EAF in this highly technologically advanced sector. For the construction of the production facilities and the use of cutting-edge technology, significant capital expenditure is needed. As a result, the industry's rising capital-intensiveness slows and limits the expansion of the worldwide graphite electrode market both now and during the course of the projection period.
Request Free Customization of this report to help us to meet your business objectives.
Global Graphite Electrode Market Competitive Landscape
The market for graphite electrodes is moderately fragmented. The businesses in the graphite electrodes market strive to boost their earnings through strategic partnerships, investments, and R&D initiatives. The market participants for graphite electrodes are also concentrating on leaving their imprint on the industrial sector. R&D operations also aid in the creation of novel formulations and tactics. The participants are also engaging in partnerships, joint ventures, mergers, and acquisitions.
Graphite Electrode Market Top Players Company Profiles
- Graphite India Limited
- HEG Limited
- Showa Denko K.K.
- Nippon Carbon Co., Ltd.
- Tokai Carbon Co., Ltd.
- GIL Automations
- SGL Carbon SE
- Fangda Carbon New Material Co., Ltd.
- Kaifeng Carbon Co., Ltd.
- Jilin Carbon Import and Export Company Limited
- Yangzi Carbon Co., Ltd.
- Datong Carbon Corporation
- JSC "Ukrgrafit"
- SEC Carbon, Ltd.
- Toyo Tanso Co., Ltd.
- Mersen SA
- EPM Group
- Carbone Savoie
- IBIDEN Co., Ltd.
- Zhongping Energy & Chemical Group Co., Ltd.
Graphite Electrode Market Recent Developments
- In April 2021, Nantong Yangzi Carbon Co. purchased Xufeng Carbon Technology Co. Ltd to increase its annual manufacturing capacity of ultra-high power graphite electrodes to 60,000-100,000 tonnes.
- In January 2021, Within the Tokai Carbon Group, Tokai Carbon Co. Ltd. amalgamated its two businesses, Tokai COBEX and Tokai Carbon Savoie. This group is involved in producing electrode graphite.
Global Graphite Electrode Key Market Trends
Increasing popularity of Electric Arc Furnace (EAF)
- The global market for graphite electrodes is expected to develop as a result of consumers' growing preference for EAF. EAF steel manufacturing is the main application for them. Electric furnaces are becoming more popular with steel producers as a result of benefits like inexpensive startup costs, more production flexibility, and reduced carbon dioxide emissions. The demand for steel manufacturing will develop significantly throughout the projected period because of the increasing environmental and financial benefits of EAF, which will support the expansion of the market. The effectiveness is closely correlated with the quantity of raw materials required for steel production. They can be utilized for non-ferrous metal smelting operations and steel refinement in addition to EAF steel production. Due to its performance and cost advantages, EAF is being increasingly preferred over ladle and blast furnaces, which will accelerate the expansion of the worldwide graphite electrode market over the course of the forecast period.
Global Graphite Electrode Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global graphite electrode market is currently led by countries in the Asia Pacific region, due to the increased demand for high-quality steel in this region. Along with this, the ultra-high power (UHP) is projected to lead the market over the forecast period. The increased infrastructure spending may increase demand for graphite electrodes, a key component required in the smelting process to produce high-quality steel. Furthermore, the global market will continue to grow throughout the forecast period due to rising steel demand in the oil and gas sector.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 3.2 billion |
| Market size value in 2030 | USD 5.85 billion |
| Growth Rate | 7.45% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Graphite Electrode Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Graphite Electrode Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Graphite Electrode Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Graphite Electrode Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Graphite Electrode Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Graphite Electrode Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Graphite Electrode Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 617-230-0741
