Graphite Electrode Market Size is Estimated to Generate Revenue Worth $5.68 Billion by 2024 | Hexa Research

“Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future”
“Graphite Electrode Market” is anticipated to grow on account of increasing steel production through electric arc furnace (EAF) route in developed as well as developing nations.

The global Graphite Electrode Market is expected to reach USD 5.68 billion by 2024 and is expected to grow on account of its increasing use for production of steel. Asia Pacific emerged as the fastest growing market and is projected to continue dominating as a result of the presence of robust steel manufacturers. The usage of graphite electrode has increased due to rigorous competition in the steel industry.

Rapid steel production and increasing spending on infrastructure in developing economies across the globe are expected to boost the demand for high-grade steel that is manufactured using electric arc furnaces (EAF). Adoption of advanced technology for steel production with the purpose of saving time and energy is expected to augment the demand for graphite electrodes.

The demand for electric arc furnace is expected to grow significantly as it offers several advantages such as production flexibility and low CO2 emission. It also saves raw material and energy due to its efficiency. The segment is likely to grow at a 4.1% CAGR over the projected period.

Graphite electrodes offer excellent thermal resistance and high current carrying capacity which makes them a suitable choice in electric arc furnaces (EAF) steel, refinement of steel and similar smelting processes. Besides EAF and LF, graphite electrodes are also used for electrolytic aluminum smelting and electrical discharge machining (EDM). The development of these non-steel applications is also anticipated to provide an opportunity for market growth over the forecast period.

Ultra-high power graphite electrode is expected to grow at the highest volume CAGR of 4.1% over the forecast period. Despite the high price of the product, the demand for these products is anticipated to be high in line with the rising demand for superior steel quality in various niche applications within the aerospace, automotive and electronics sectors.

A specially prepared flux pitch used in graphite electrodes helps to increase the durability and density of the final product. Ultra-high bending resistance, low electrical resistivity, and high-temperature resistance properties will increase the demand for UHP graphite electrode over the forecast period. In compliance with the driving factors, companies are focusing on mergers & acquisitions and capacity upgrades to expand their presence in global market. For instance, in January 2014, Kaifeng Carbon Co., Ltd.’s completed its Phase II expansion and can produce 50,000 tons of UHP graphite electrodes.

Browse Details of Report @ https://www.hexaresearch.com/research-report/graphite-electrode-market

Hexa Research has segmented the global graphite electrode market based on product, application and region:

Segmentation by Product, 2014 – 2024 (Kilo Tons) (USD Million)
• Ultra-high power (UHP)
• High power (HP)
• Regular power (RP)

Segmentation by Application, 2014 – 2024 (Kilo Tons) (USD Million)
• Electric Arc Furnace (EAF)
• Ladle Furnace (LF) & Others

Segmentation by Region, 2014 – 2024 (Kilo Tons) (USD Million)
• North America
    • Mexico
• Europe
    • France
• Asia Pacific
    • China
    • Japan
    • India
• Central & South America
• Middle East & Africa

Key players analyzed
• Graphite India Limited
• Beijing Great Wall Co., Ltd.
• Nippon Carbon Co Ltd
• GrafTech International
• Ameri-Source Specialty Products
• Tokai Carbon Co., Ltd
• HEG Limited
• KAIFENG CARBON CO., LTD
• Schutzcarbon.com
• NANTONG YANGZI CARBON CO., LTD

Related Category Reports @

Synthetic Diamond Market: Relatively lower price and a higher production rate of these as compared to natural diamonds are expected to result in driving the growth of the synthetic diamond market over the next few years.

Adhesive Films Market: Adhesive FilmsMarket drivers are development of compact electronic devices, lightweight automobiles, & flexible packaging. Water-based films face high demand due to their fast drying rates. 

About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

For More Information Visit @ www.hexaresearch.com

Media Contact
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Phone: +1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California 95018
Country: United States
Website: www.hexaresearch.com/research-report/graphite-electrode-market