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Graphite Electrodes Market Size, Share, Price Analysis and Demand Overview 2022-27

According to the latest report by IMARC Group, titled “Graphite Electrodes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global graphite electrodes market reached a value of US$ 5.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2027, exhibiting at a CAGR of 6.2% during 2022-2027. Graphite electrodes represent large cylindrical structures that are made up of coal tar pitch and petroleum needle coke. They conduct electrical energy from a power source and convert it into heat that is used to melt scrap metal. Owing to the high thermal conductivity and low electrical resistance of graphite, these electrodes can generate heat up to the high temperature of 1600 degrees Celsius. Graphite electrodes are primarily utilized in Electric Arc Furnaces (EAFs) and Blast Oxygen Furnaces (BOFs) for smelting ferrous alloys and steelmaking. They help in the manufacturing of high-quality products that have high electrical conductivity, can withstand high heat dissipation, and exhibit exceptional mechanical strength.

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Global Graphite Electrodes Market Trends:

The growing product requirement in steel-oriented sectors, such as construction, infrastructure, aerospace, defense, automotive, etc., is among the key factors driving the graphite electrodes market. Moreover, the inflating demand for Ultra-High Power (UHP) graphite electrodes, which offer high levels of thermal and electrical conductivity and can swiftly melt scrap to manufacture steel, is acting as another significant growth-inducing factor. In addition to this, the increasing need for anti-corrosive components in oil and petroleum pipelines is further catalyzing the global market. In line with this, the elevating popularity of EAFs in the oil and gas industry is expected to fuel the graphite electrodes market in the coming years.

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