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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Key Market Segmentation:
Competitive Landscape with Key Player:
- 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
Market Breakup by Product Type:
- Ultra-High Power (UHP)
- High Power (HP)
- Regular Power (RP)
Market Breakup by Application:
- Electric Arc Furnace
- Ladle Furnace
- Non-Steel Application
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, 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 2016-2021
- Market Outlook 2022-2027
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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