The global graphite electrodes market size reached US$ 6.6 Billion in 2023. Looking forward, the market is projected to reach US$ 10.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.29% during 2023-2032.
Graphite electrodes are large cylindrical structures made up of petroleum needle coke and coal tar pitch. They conduct electrical energy from the power source and convert it into heat which is used to melt scrap metal. Since graphite has high thermal conductivity and low electrical resistance, these electrodes can generate heat up to the temperature of 1600 degree Celsius. They are primarily used in Electric Arc Furnaces (EAF) and Blast Oxygen Furnaces (BOF) for steelmaking and smelting ferrous alloys. These electrodes help in the manufacturing of high-quality products that can withstand high heat dissipation have high electrical conductivity and exhibit exceptional mechanical strength.
The rising demand for graphite electrodes in steel-oriented sectors such as construction, automotive, infrastructure, and aerospace and defense are the key factor driving the market. The increasing requirement of anti-corrosive products for oil and petroleum wells and pipelines in the oil and gas sector has further enhanced the use of EAF, and subsequently catalyzed the demand for these electrodes.
Additionally, the increasing requirement for Ultra-High Power (UHP) graphite electrodes is another market trend that is projected to drive the market. UHP has a higher thermal and electrical conductivity and can swiftly melt scrap to manufacture steel. It is therefore highly preferred by steel manufacturers, and its demand is expected to grow substantially in the coming years.
This report provides a deep insight into the global graphite electrodes market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global graphite electrodes market in any manner.
2. What is the expected growth rate of the global graphite electrodes market during 2024-2032?
3. What are the key factors driving the global graphite electrodes market?
4. What has been the impact of COVID-19 on the global graphite electrodes market?
5. What is the breakup of the global graphite electrodes market based on the product type?
6. What is the breakup of the global graphite electrodes market based on the application?
7. What are the key regions in the global graphite electrodes market?
8. Who are the key players/companies in the global graphite electrodes market?
Graphite electrodes are large cylindrical structures made up of petroleum needle coke and coal tar pitch. They conduct electrical energy from the power source and convert it into heat which is used to melt scrap metal. Since graphite has high thermal conductivity and low electrical resistance, these electrodes can generate heat up to the temperature of 1600 degree Celsius. They are primarily used in Electric Arc Furnaces (EAF) and Blast Oxygen Furnaces (BOF) for steelmaking and smelting ferrous alloys. These electrodes help in the manufacturing of high-quality products that can withstand high heat dissipation have high electrical conductivity and exhibit exceptional mechanical strength.
The rising demand for graphite electrodes in steel-oriented sectors such as construction, automotive, infrastructure, and aerospace and defense are the key factor driving the market. The increasing requirement of anti-corrosive products for oil and petroleum wells and pipelines in the oil and gas sector has further enhanced the use of EAF, and subsequently catalyzed the demand for these electrodes.
Additionally, the increasing requirement for Ultra-High Power (UHP) graphite electrodes is another market trend that is projected to drive the market. UHP has a higher thermal and electrical conductivity and can swiftly melt scrap to manufacture steel. It is therefore highly preferred by steel manufacturers, and its demand is expected to grow substantially in the coming years.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global graphite electrodes market report, along with forecasts at the global and regional level from 2024-2032. The report has categorized the market based on product type and application.Breakup by Product Type:
- Ultra-high Power (UHP)
- High Power (HP)
- Regular Power (RP)
Breakup by Application:
- Electric Arc Furnace
- Ladle Furnace
- Non-Steel Application
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Energoprom Group, Fanda Carbon New Material Co. LTD, Graftech International, HEG Limited, Nantong Yangzi Carbon Co. Ltd, Graphite India, SHOWA DENKO, Beijing Great Wall Co., Ltd., Nippon Carbon Co Ltd., Ameri-Source Specialty Products, Tokai Carbon Co., Ltd, Schutzcarbon, etcThis report provides a deep insight into the global graphite electrodes market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global graphite electrodes market in any manner.
Key Questions Answered in This Report
1. What was the size of the global graphite electrodes market in 2023?2. What is the expected growth rate of the global graphite electrodes market during 2024-2032?
3. What are the key factors driving the global graphite electrodes market?
4. What has been the impact of COVID-19 on the global graphite electrodes market?
5. What is the breakup of the global graphite electrodes market based on the product type?
6. What is the breakup of the global graphite electrodes market based on the application?
7. What are the key regions in the global graphite electrodes market?
8. Who are the key players/companies in the global graphite electrodes market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Graphite Electrodes Market
6 Market Breakup by Product Type
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Energoprom Group
- Fanda Carbon New Material Co. LTD
- Graftech International
- HEG Limited
- Nantong Yangzi Carbon Co. Ltd
- Graphite India
- SHOWA DENKO
- Beijing Great Wall Co. Ltd.
- Nippon Carbon Co Ltd.
- Ameri-Source Specialty Products
- Tokai Carbon Co. Ltd
- Schutzcarbon
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 135 |
Published | April 2024 |
Forecast Period | 2023 - 2032 |
Estimated Market Value ( USD | $ 6.6 Billion |
Forecasted Market Value ( USD | $ 10.5 Billion |
Compound Annual Growth Rate | 5.2% |
Regions Covered | Global |
No. of Companies Mentioned | 12 |