Global Graphite Electrodes Market Industry Trends, Estimation & Forecast, 2018 - 2025

Graphite Electrode is a high value, needle coke based raw material primarily used in the electric arc furnaces (EAF) & blast oxygen furnace (BOF) for steelmaking, mine electric furnace for smelting ferrous alloys and electric discharge machining markets to enhance the production of fine surface finishes.

Factors such as a rise in demand for graphite electrodes in end-use industries, an increase in the utilization of steel scrap, and high demand from the steel industry are expected to drive demand for graphite electrodes. Graphite electrodes possess favorable electrical properties, high mechanical strength at high temperatures, high electrical and heat conductivity, low impurity content, chemical stability, and high vibrational resistance. Graphite electrodes used in Electric Arc Furnace (EAF) provide flexibility in varying its steel production unlike the blast furnace method of steel production. EAF units can be rapidly started and stopped, allowing the steel mill to vary production according to demand. Due to flexibility, quick turnaround time, and lower fixed costs of EAF, they have gained popularity among steel producers.

“Global Graphite Electrodes market is valued at USD 10.39 billion in 2018 and it is expected to reach more than USD billion by 2025, likely to grow at a CAGR of 4.46 % during the forecast period”

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The metallurgy segment garnered the highest share in the global market, owing to the growth of steel- oriented sectors. The growth of steel- oriented sectors such as construction, automotive, infrastructure, aerospace & defense, and many others have led to a surge in the consumption and production of steel. Nowadays, manufacturers have opted for electric arc furnaces (EAF) for manufacturing steel, which requires graphite electrodes as the main component. Being a prerequisite of steel manufacturing process or smelting process via the EAF route, the demand for graphite electrodes is linked to the demand for EAF.

The Asia Pacific is a key region of the graphite electrodes market. North America and Europe hold a prominent share of the global graphite electrode market. Demand for graphite electrodes expanded rapidly in the Asia Pacific in 2017 owing to a change in Chinese government regulations. The Asia Pacific is a key region of the graphite electrodes market due to the high consumption and production of graphite electrodes in Japan, China, and India. Steel and non-ferrous metals are a major application segment in Asia owing to the region’s high share in steel making. China is a key country of the market in the Asia Pacific due to the increasing share of EAF-based steel production in the country.

Key players operating in the graphite electrode market include Showa Denko K.K., GrafTech International, Graphite India Limited, Nippon Carbon Co. Ltd., HEG Limited, Kaifeng Carbon Co., Ltd., Nantong Yangzi Carbon, SEC Carbon, Ltd., Nantong Yangzi Carbon Co., Ltd. and Tokai Carbon Co., Ltd.

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