Graphite Electrodes Market Size is Projected to Reach USD 10420 Million by 2026 at CAGR 1.9% | Valuates Reports
BANGALORE, India, Feb. 25, 2021 /PRNewswire/ -- Graphite Electrodes Market is Segmented by Type (Regular Power Graphite Electrodes, High Power Graphite Electrodes, Ultra High Power (UHP) Graphite Electrodes), by Application Electric Arc Furnace Steel, Other (Phosphorus, Silicon, etc.)) , by Regions & Key players Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Metals & Mining Category.
The global Graphite Electrodes Market size is projected to reach USD 10420 Million by 2026, from USD 9333.1 Million in 2020, at a CAGR of 1.9% during 2021-2026.
Major factors driving the growth of graphite electrode market size are, increasing applications in the automobile industry, electric arc steel-making, and ladle refinement of steel.
This report focuses on Graphite Electrodes volume and value at the global level, regional level, and company level. From a global perspective, this report represents the overall Graphite Electrodes market size by analyzing historical data and prospects. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.
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TRENDS INFLUENCING THE GROWTH OF GRAPHITE ELECTRODE MARKET SIZE
A steady increase in steel production through the electric arc furnace (EAF) method is expected to drive the growth of graphite electrode market size.
Graphite electrode (GE) is an integral component of steel production through the EAF process. Due to the rising awareness among developing economies of environmentally friendly technology, the penetration of EAF-based steel production is expected to witness growth during the forecast period.
Furthermore, the growth of graphite electrode market size is further increased by graphite electrode application in gouging operations such as the formation of a bevel or groove, removing defects in castings, or welding by arc or gas process. Arc gouging removes the material by melting it with the heat of the arc between the carbon-graphite electrode and the base metal.
Demand for battery raw materials is rising as electric vehicles gain popularity. The most popular option for EV batteries is lithium-ion batteries which typically use graphite anodes as they deal well with the movement of lithium ions during charging and discharging. This increasing use of the lithium-ion battery is expected to drive the growth of graphite electrode market size.
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GRAPHITE ELECTRODE MARKET SHARE ANALYSIS
Based on the region, the Asia-Pacific region is expected to hold the largest graphite electrode market share during the forecast period.
This dominance of the Asia Pacific region is attributed to the increased demand for high-quality steel and increased use of graphite electrodes due to its excellent properties.
The role of China and India in the production of EAF steel will be consequential in the coming years. The high demand for graphite electrodes from these countries is attributed to a sharp rise in the production of crude steel. According to the World Steel Association, in 2018, China and Japan produced 928.3 million tons of crude steel and 104.3 million tons of crude steel.
Based on the application, steel manufacturing is expected to hold the largest market share during the forecast period.
There has been a continuous increase in the production of EAF steel worldwide, which is the main driver of demand for graphite electrodes.
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TOP COMPANIES IN THE GRAPHITE ELECTRODE MARKET
The top 3 manufacturers in the Graphite electrode market are Showa Denko K. K, GrafTech International, and Fangda Carbon New Material, which accounted for 18.94%, 17.51%, and 12.69% of revenue in 2019, respectively.
Other major companies in the graphite electrode include,
- Graphite India Limited (GIL)
- HEG Limited
- Tokai Carbon
- SEC Carbon, Ltd
- Energoprom Group
- Jilin Carbon
- Kaifeng Carbon
- Nantong Yangzi Carbon
GRAPHITE ELECTRODE MARKET SEGMENTS
Following are the segments covered by the report are:
- Regular Power Graphite Electrodes
- High Power Graphite Electrodes
- Ultra High Power (UHP) Graphite Electrodes
By Application:
- Electric Arc Furnace Steel
- Others (Phosphorus, Silicon, etc.)
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SIMILAR REPORTS :
- Electric Arc Furnaces market was valued at USD 1132.5 Million in 2019 and is projected to reach USD 1978.1 Million by 2026, at a CAGR of 8.2% during the forecast period. In this study, 2020 has been considered as the base year and 2021 to 2026 as the forecast period to estimate the market size for Electric Arc Furnaces.
- Graphite Electrode Rod market size was USD 3112 Million and it is expected to reach USD 3208 Million by the end of 2026, with a CAGR of 0.4% during 2021-2026.
- The High Power Graphite Electrodes Market is Segmented by Type 100mm-350mm, 351mm-500mm, 500mm-700mm, by Application Electric Arc Furnace Steel, Other (Phosphorus, Silicon, etc) and by various regions.
- Ultra High Power (UHP) Graphite Electrodes Market is Segmented by Type 8% Fixed Carbon, 9% Fixed Carbon, by Application Steel Industry, Electrical Industry and by various regions.
- The Large Diameter Graphite Electrodes Market is Segmented by Type 500mm-700mm HP Graphite Electrodes, 500mm-700mm UHP Graphite Electrodes, 700mm-800mm UHP Graphite Electrodes and by various regions.
- Large Caliber Graphite Electrode Market
- Graphite Electrode Billets Market is Segmented by Type Graphite in Chunks, Graphite Electrode in Pieces, by Application Steelmaking Industry, Metallurgical Industry, Chemical Industry and by various regions.
- Graphite Electrode Scraps Market
- Graphite Electrode Cylinder Rods Market
- Petroleum Needle Coke Market is Segmented by Type High-Sulfur Petroleum Needle Coke, Middle-Sulfur Petroleum Needle Coke, Low-Sulfur Petroleum Needle Coke, by Application Ultra High Power Electrode, Special Carbon Materials and by various regions.
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