Product ID: SQMIG15J2065
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 2024-2031
Report ID:
SQMIG15J2065 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
69 |
Figures:
75
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.
Global Graphite Electrode Market Report Snapshots
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