Graphite Electrode Global Market Size Expected to USD 16.48 Billion by 2025

Global Graphite Electrode Market Size is expected to reach USD 16.48 Billion by 2025 with the CAGR of 8.78% over the forecast period. Increasing demand of engineering and construction materials with surge in the production of steel and iron as well as rise in industrialization with modern infrastructures are some important factors driving the growth of Global Graphite Electrode Market.

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Graphite electrode is the heating element used in the electric arc furnace for manufacturing of steel from , old cars and other appliances. The electrode provides heat to this for melting to produce new steel. Electric arc furnaces are widely used in the steel and aluminums production industry as it is cheaper to build. The graphite electrodes can be assembled into columns as they are a part of the electric furnace lid. When the electricity is supplied that passes through these graphite electrodes, forming an arc of intense heat that melts the steel.

Electrodes are available in different sizes depending upon the requirement of heat and size of electric furnace. For production of 1 tonne of steel, approximately 3 kg of graphite electrode is required. While manufacturing of the steel, the temperature of electrode tip reaches to around 3000 degree Celsius as graphite has capacity to withstand such high temperature. Needle and petroleum coke are the major raw materials used for making graphite electrodes which takes up to six months to manufacture followed by certain processes including baking and rebaking to convert the coke into graphite. Graphite electrodes are easier and faster to manufacture than copper electrodes as it does not require additional process like manual grinding.

Graphite Electrodes Market Leading Key Players
In terms of market share size, few of the major players currently dominate the market are,
• 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

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Graphite electrodes are one of a kind of conductor and an essential component in the steelmaking process. In this process, iron gets melted in an electric arc furnace and recycled. It is the graphite electrodes inside the furnace that actually melt the iron. Graphite shows high thermal conductivity and is very resistant to heat and impact. It possesses the low electrical resistance, means it can conduct the large electrical currents needed to melt iron. Graphite electrodes are mainly used in electric arc furnace (EAF) and ladle furnace (LF) for steel production, ferroalloy, silicon metal Graphite electrodes are used in electric arc furnace (EAF) and ladle furnace (LF) for steel production, ferroalloy production, silicon metal production and smelting processes.

There are various factors driving the growth of the graphite electrodes one of the majors driving the growth of the market are growing demand of steel from developing country and different industries like construction, oil & gas, and automotive industries. In addition to this, China own requirement for graphite electrodes is expected to jump enormously. This is led by twin factors of closing units operating on inefficient steel-making technology having an adverse environmental impact and replacing it with units with electric arc furnace (EAF) technology. China closed induction and blast furnace units having around 155 Million Tons and 115 Million Tons capacities, respectively. At the same time, China has been installing and commenced construction for 105 new EAFs, with a capacity of 66 Million Tons. Graphite electrode ultra-high power (UHP) segment were widely used and accounting for more than 65% of the revenue share and are expected to show continues dominance during the forecast period 2018-2024.

Global Graphite electrode Market Regional Analysis–

The Asia Pacific is expected to dominate the global graphite electrode market due to the rapidly increasing infrastructure investment on account of surge in population and presence of huge number of manufacturing companies mainly in China, Japan and India. According to the World Bank Group in Asia Pacific, China is the largest manufacturer of electrode graphite. China has become a leading global investor for the construction and engineering, which has made investment particularly in Latin America, Europe and the United States. This rapid international expansion has made top of Fortune Global 500 rankings for Chinese companies. According to China State Construction Engineering (CSCEC) in 2017, China invested in building new infrastructure for the growth of its country with an estimated investment made USD 158 billion, as the third largest investor in the world after the United States, with USD 342 billion, and Japan, with USD 160 billion.

North America is growing at a rapid pace in the graphite electrode market due to the increasing technological advancement with rising construction and building new infrastructure in this region followed by Europe. This is due to several factors like surge in spending related to digital technology, rise in population, GDP, and market maturity. Europe is also a significant contributor in the growth of graphite electrode market due to the rising construction facility for development. According to the recent report of HM government, in Europe UK construction businesses hold the largest share forecasting around Euro 200 billion global market for integrated city systems by 2030. This will generate huge demand for the graphite electrode market for construction materials’ productions.

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