Global Graphite Electrode Market

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 News

  • 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.
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Graphite Electrode Market size was valued at USD 3.2 billion in 2019 and is poised to grow from USD 3.43 billion in 2023 to USD 5.85 billion by 2031, growing at a CAGR of 7.45% in the forecast period (2024-2031).

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 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.'

Rising demand for high quality steel

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.

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.

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