Press release
Graphite Electrode Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company offers in-depth market insights through Graphite Electrode Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The graphite electrode market size has grown strongly in recent years. It will grow from $8.01 billion in 2023 to $8.65 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to growth in raw material availability, steel industry growth, global infrastructure development, shift towards electric arc furnace (eaf) steelmaking, fluctuations in graphite prices..
The graphite electrode market size is expected to see strong growth in the next few years. It will grow to $11.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to geopolitical factors and trade policies, stricter environmental regulations, supply chain resilience and localization, continued shift to eaf steelmaking, infrastructure and construction projects.. Major trends in the forecast period include shift towards long-term contracts, market consolidation and strategic partnerships, diversification in end-use industries, growing importance of recycling..
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Market Segmentation:
The graphite electrode market covered in this report is segmented -
1) By Electrode Grade: Ultra High Power (UHP), High Power (SHP), Regular Power (RP)
2) By Application: Steel Manufacturing, Silicon Metal Manufacturing, Steel Refining, Smelting Processes, Ferroalloy Production, Non Ferrous Metals Production, Lithium Ion Batteries Production, Other Applications
3) By End Use Industry: Automotive, Appliances, Construction, Machinery, Transportation, Aerospace And Defense, Oil And Refinery, Other End Users
Major Driver - The Surge In Demand For High-Quality Steel Fuels Graphite Electrodes Market
The rising demand for high-quality steel is expected to propel the growth of the graphite electrodes market going forward. High-quality steel refers to steel that meets stringent standards in terms of its composition, physical properties, and performance. It is made from carefully selected raw materials, undergoes advanced manufacturing processes to remove impurities, and is often alloyed with elements to enhance its properties. Graphite electrodes are essential components in electric arc furnaces (EAFs) used for steel production. EAFs are widely used in steel production, especially to produce specialty and high-quality steels. For instance, in April 2023, according to World Steel Association, a Belgium-based trade association, 2023, steel demand is predicted to rebound by 2.3% reaching a total of 1,822.3 million metric tons (Mt). The forecast for 2024 indicates further growth of 1.7% in steel demand, with a projected total of 1,854.0 million metric tons (Mt). Therefore, the rising demand for high-quality steel is driving the growth of the graphite electrodes market.
Competitive Landscape:
Major companies operating in the graphite electrode market report are Resonac Holdings Corporation, IBIDEN co. Ltd., Tokai Carbon Co. Ltd., GrafTech International Holdings Inc., SGL Carbon SE, Mersen SA, Fangda Carbon New Material Co. Ltd., Beijing Great Wall Co. Ltd., Graphite India Limited, Toyo Tanso Co. Ltd., HEG Limited, Asbury Graphite Mills Inc., Nippon Carbon Co. Ltd., SEC Carbon Ltd., EPM Group S.A., Beijing Great Wall Co. Ltd., Kaifeng Carbon Co. Ltd., Weaver Industries Inc., SANGRAF International, Ameri-Source Specialty Products, Mercer Gasket and Shim, Nantong Yangzi Carbon Co. Ltd., Coidan Graphite Products Ltd, Dan Carbon, Ukrainskiy Grafit, Kaifeng Pingmei New Carbon Materials Technology Co. Ltd.
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Top Trend - Technological Wave Reshaping Graphite Electrodes Industry
Technological advancements are a key trend gaining popularity in the graphite electrodes market. Companies operating in the graphite electrode market are adopting recent technologies to sustain their position in the market. For instance, in March 2022, Battrion AG, a Switzerland-based battery technology company, along with its partner Jagenberg Converting Solution GmbH, a Germany-based machine and equipment manufacturer unveiled Battrions Aligned Graphite Technology for the lithium-ion battery. Aligned Graphite Technology is an innovative fabrication technology for lithium-ion batteries. It improves the microstructure of negative electrodes, resulting in enhanced battery performance and faster charging capabilities. The technology lowers cell resistance, leading to more efficient charge and discharge processes. It offers cost savings in battery production and is compatible with standard graphite materials, requiring no modifications to existing manufacturing processes. The performance benefits have been validated by leading automotive OEMs and cell manufacturers. Aligned Graphite Technology has the potential to revolutionize the EV and high-power battery industry by improving energy storage and optimizing battery manufacturing.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Graphite Electrode Market Characteristics
3. Graphite Electrode Market Trends And Strategies
4. Graphite Electrode Market - Macro Economic Scenario
5. Graphite Electrode Market Size And Growth
…..
27. Graphite Electrode Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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