Graphite Electrode Market is Expected to Register a Considerable Growth by 2024

• This new report from Stratview Research analyses the Graphite Electrode Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Graphite Electrode Market Overview:

The global graphite electrode market is projected to grow at a healthy rate over the next five years to reach US$ 15.3 billion in 2024.

Factors driving the global graphite electrodes market are listed below.

• Steady increase in steel production through the EAF method
• No substitute of graphite electrode in EAF steel production
• Supply crunch owing to the limited production capacity of needle coke and graphite electrode

Graphite electrode (GE) is an essential component of steel production through the electric arc furnace (EAF) method. After five years of downcycle, the demand for graphite electrode started emerging in 2016 with the increased production of steel through the EAF method. The penetration of EAF-based steel production is expected to be stable in the foreseen future, because of high awareness of the developed economies towards environmentally friendly technologies.

The role of China and India in the production of EAF steel is going to be consequential in the coming years as the current penetration of EAF steel production in both countries are lower than the developed countries but will rise at a greater pace in the coming years. This will imprint a significant upward trend to the demand for graphite electrodes in the coming five years.

The market’s supply chain is extremely dynamic with a tight supply of raw materials (petroleum needle coke) as well as graphite electrode coupled with the consistent increase in the EAF steel production. The preference of lithium-ion battery in the increasing production of electric vehicles further takes the supply crunch to the next level. Petroleum needle coke is an essential raw material for the production of the lithium-ion battery. In addition, no substitute of graphite electrode in the production of EAF steel makes the material a strategic resource rather mere a commodity.

Key Players:

• Showa Denko K.K.
• GRAFTech International
• Graphite India Limited (GIL)
• HEG Ltd.
• Tokai Carbon Co., Ltd.
• Energoprom
• Fangda Carbon New Material Co. Ltd.
• Sangraf International
• SEC Carbon, Limited
• Nippon Carbon

The Graphite Electrode Market is segmented by–

• By Product Type {Ultra-High Power (UHP), High Power (HP), and Regular Power (RP)}, By Application Type {Steel, Silicon Metal, and Aluminum}
• By Region {North America, Europe, Asia-Pacific, and Rest of the World}.

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Regional analysis:

Asia-Pacific is expected to remain the largest market during the forecast period. China and India are the largest and second-largest steel producing countries through the EAF method globally. Furthermore, among the leading players, five players (Showa Denko K.K. (Japan), Fangda Carbon New Material Co. Ltd. (China), Tokai Carbon Co. Ltd. (Japan), Graphite India Limited (India), and HEG Ltd. (India) are based in Asia-Pacific.

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