Graphite Electrodes Market Growth, Outlook, Demand, Key player Analysis and Opportunity 2023-2028

IMARC Group's latest report, titled "Graphite Electrodes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global graphite electrodes market size reached US$ 6.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Graphite electrodes refer to large cylindrical structures made using petroleum needle coke and coal tar pitch. They are available in ultra-high power (UHP), high power (HP), and regular power (RP) variants. Graphite electrodes conduct electrical energy from power sources and convert it into heat which is utilized to melt metal. They have high thermal conductivity and low electrical resistance, owing to which they can generate heat up to the temperature of 1600 degree Celsius. Graphite electrodes help to manufacture high-quality products that can withstand high heat dissipation and exhibit enhanced electrical conductivity and exceptional mechanical strength. Consequently, they find widespread utilization in electric arc furnaces, blast oxygen furnaces, ladle furnaces, etc., across the globe.

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Graphite Electrodes Market Growth and Demand:

The elevating usage of the product for manufacturing steel via electronic arc furnace is among the key factors driving the graphite electrodes market. In addition to this, the increasing focus among major market players across countries on obtaining quality needle coke either through domestic procurements or imports while securing technology for quality improvement is acting as another significant growth-inducing factor. Apart from this, the inflating demand for high-quality steel in numerous end-use sectors, such as construction, aviation, automotive, etc., is also positively influencing the market growth. Moreover, the rising availability of steel and the escalating employment of UHP graphite electrode to recycle steel is further stimulating the market growth. Besides this, the shifting preferences toward larger capacity ultra-high power arc furnaces that can adequately suffice the need for lower total cost and higher work efficiency are expected to propel the graphite electrodes market over the forecasted period.

Competitive Landscape:

• 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

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Key Market Segmentation:

Breakup by Component:

• Ultra-high Power (UHP)
• High Power (HP)
• Regular Power (RP)

Breakup by Application:

• Electric Arc Furnace
• Ladle Furnace
• Non-Steel Application

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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