Graphite Electrodes Market is valued at 9426.90 USD Million in 2017 and expected to reach USD 12598.47 Million by 2024 with the CAGR of 4.23% over the forecast period.
Graphite electrodes are large cylindrical size mainly made up from needle coke. Graphite electrodes are mainly used for steel manufacturing process in electric arc furnaces (EAF). The use of graphite electrodes is not limited to steel manufacturing process but is also widely used in steel refining and smelting processes.
Global graphite electrodes market report is segmented on the basis of type, application and by regional & country level. Based upon type, global graphite electrodes market is classified as Regular Power (RP), High Power (HP) and Ultra-high Power (UHP). Based upon application, global graphite electrodes market is classified as steel and nonferrous metals, fused materials, inverted and chemical processing.
The regions covered in this graphite electrodes market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of graphite electrodes is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia etc.
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Key Players for Global Graphite Electrodes Market Reports–
The global graphite electrodes market report covers prominent players like GrafTech U.S., Fangda Carbon China, SGL Carbon Germany, Showa Denko Japan, Graphite India, HEG India, Tokai Carbon Japan, Nippon Carbon Japan, SEC Carbon Japan, and Others.
China’s growing long-term scrap availability along with EAF production outlook is fueling the growth for graphite electrodes market.
After clamping down its Polluting and illegal capacities, China has started setting up for producing more steel by using scrap route due to largely available of scrap and effectiveness of EAF. EAF provides an extremely effective pollution control system by including primary fume extraction systems combined with secondary dusting. EAF-based steel production units are environmentally friendly as they utilize metallic scrap. Above graph clearly show that the Chinas Scrap was accounted 200 MT in 2017 and is expected to reach more than 280 MT by the end of the forecast period 2024. The Chin’s Scrap is growing at significant growth rate during the forecast period. The EAF capacity was accounted at 85 MT in 2017 and is anticipated to reach more than 170 MT by the end of the 2024. Growing Scrap availability and rising capacity of EAF capacity is major drivers for growth of electrodes market
Asia-pacific is Expected to continue its dominance for the graphite electrodes market
Asia-pacific is accounting for more than 70% of market share due to huge contribution from China and India for the consumption and production of graphite electrodes. The Asia Pacific is estimated to expand at a rapid pace due to the increase in EAF-based steel production. China has major contribution due to its Ministry of Industry and Information Technology, Ministry is a promoting and encouraging for capacity expansions for electric arc furnaces due to reducing environmental impact on the country.
Graphite Electrodes Market Segmentation
- Regular Power (RP)
- High Power (HP)
- Ultra-high Power (UHP)
- Steel and Nonferrous Metals
- Fused Materials
- Chemical Processing
- North America
- Asia Pacific
- Southeast Asia
- Rest Of world