According to the latest report by IMARC Group, titled “Graphite Electrodes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global graphite electrodes market size reached US$ 5.5 Billion in 2020. Looking forward, IMARC Group expects the global graphite electrodes market to exhibit moderate growth during 2021-2026. Graphite electrodes refer to large cylindrical structures that are obtained by the calcination of amorphous carbon, such as coal pitch, petroleum coke or asphalt coke, using a graphitization furnace. They are characterized by low electrical resistance and excellent mechanical strength and machinability. They also exhibit excellent thermal shock resistance as they can easily withstand high-temperature exposures. These electrodes find extensive applications in the production of steel, ferroalloy, and silicon metals and in the smelting process across the electric arc furnace (EAF), blast oxygen furnaces (BOF) and ladle furnace (LF) as they aid in transferring electrical energy from the power source to the steel melt in the furnace bath in an efficient manner.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Graphite Electrodes Market Trends:
The global market is primarily driven by the escalating demand for graphite electrodes in steel-oriented sectors, including construction, aerospace and defense, and automotive, that extensively utilize high-quality and anti-corrosive steel products for numerous applications. Apart from this, the oil and gas sector widely employs anti-corrosive products for oil and petroleum wells and pipelines, which has provided an impetus to the market growth. The market is further driven by the rising production of electric vehicles (EVs) across the globe. These vehicles run on lithium-ion batteries, wherein graphite electrodes form an indispensable component. Moreover, the growing focus on recycling scrap steel due to the rising environmental consciousness is creating a positive outlook for the market. Besides this, the shifting preference from BOFs to EAFs due to their lower installation costs and environmental impact with improved efficiency is also anticipated to positively influence the market growth.
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Insights on 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
Market Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America.
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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