The global graphite electrodes market size was valued at USD 1,354.7 million in 2018. The global graphite electrodes market is growing, due to the rising penetration of EAF (Electric arc furnace) based steel production across the world. In addition, the rising investment in infrastructure activities in the developed and developing economies is increasing, hence, that can push the graphite electrodes market over the next few years.

Graphite electrodes are used in electrolysis because of the graphite structure which consists of high number of delocalized electrons thus, allows smooth flow of electricity to pass through graphite rapidly. Graphite electrodes has high electrical & thermal conductivity, excellent temperature resistance, and ultra-high bending resistance. Graphite electrodes has been in use in different verticals for several years such as in electric arc furnace (EAF) and ladle furnace (LF) for steel production, smelting processes, ferroalloy production, and silicon metal production. Graphite electrodes engrosses the largest share in the market due to its property of good mechanical strength, thermal shock resistance, thermal expansion, and machinability. Graphite electrodes tip can range up to 3000 degree centigrade, which is nearly half the temperature of the sun. Growing demand for steel in, oil & gas, infrastructure, construction and automotive industries is expected to bolster the graphite electrode market.

The size of the global market for Graphite Electrodes is expected to reach USD 2,239.84 Million  by 2028, expanding at a compound annual growth rate (CAGR) of 5.22%.

Furthermore, the demand for graphite electrode is increasing due to rapid urbanization and economic development where industries such as electronics, aviation, and automotive require steel thus, anticipated to boost the use of electric arc furnace route for production thereby increasing the demand. The expanding industrial activities across various sectors such as mining, trade, construction, manufacturing, agriculture, and other areas shows an increased demand for graphite electrodes. However, soaring prices of needle coke resulting in supply tightness and existence of various types of strict regulations are likely to hinder the overall growth at a global level.

UHP (Ultra High Power) are widely adopted and most ideal grade for producing steel via the EAF route. Excellent quality, higher durability, and high thermal resistance are some of the properties that are driving the demand for UHP graphite electrode. Needle coke is the primary raw material required for manufacturing ultra-high power graphite electrodes (UHP) and accounts for more than 40% of the total raw material cost. Division of the global graphite electrodes market into five major continents shows that Asia Pacific is at the leading position with the highest CAGR in 2018 making up 42.6% of the total market share. The penetration of Graphite electrodes in this region is moving towards its peak, thereby, implying maturity with more scope for growth.

Graphite Electrodes Market Scope

Key segments of the global graphite electrodes market

Product Overview

• HP Grade
• UHP Grade
• RP Grade

Application Overview

• EAF (Electric Arc Furnace)
• LF (Ladle Furnace) & Others

Regional Overview

• North America
  • Mexico
• Europe
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
• Middle East & Africa

Reasons for the study

• The purpose of the study is to give an exhaustive outlook of the global graphite electrodes market industry.
• We have been following the overall segmentation of graphite electrodes especially, the UHP grade. This sector has been gaining immense importance, as a key fragment of the graphite electrodes market. Globally, HP grade market is relatively untapped and has tremendous growth potential in tandem with the increase in steel production.
• Robust expansion of the graphite electrode industry in Asia Pacific has been mainly driven by the increased steel production for construction, electronics, and automotive industries.
• While conducting research on the graphite electrode on regional and country level, we noticed that the use of a UHP graphite electrode in multiple applications for EAF and LF is expanding and being recognized for its value. With the environmental friendly improved technologies, consumers are being more reliable on EAF route steel production technology, making it an essential part of the Graphite electrode.

What does the report include?

• The study on the global graphite electrodes market includes qualitative factors such as drivers, restraints, and opportunities
• Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis
• The study covers qualitative and quantitative analysis of the market segmented on the basis of type, application and region. Moreover, the study provides similar information for the key geographies
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence

Who should buy this report?

This study is suitable for industry participants and stakeholders in the graphite electrodes industry, who want an in-depth insight into the movement of UHP graphite electrode market. The report will benefit:

• Executives of UHP graphite electrode manufacturing companies that are engaged in the steel production and distribution
• Managers within financial institutions looking to publish recent and forecasted statistics pertaining to graphite electrode.
• Venture capitalist looking into investing capital
• Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative and eco-friendly technologies.
• Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.