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 rapid urbanization and rising investments in EAF (Electric arc furnace) route steel production. The global graphite electrodes industry is majorly driven due to its property of good mechanical strength, thermal shock resistance, thermal expansion, and machinability coupled with an increase in sale of steel. Additionally, the rising investment in infrastructure activities in the developed and developing economies is increasing which directly raise the demand for steel. Moreover, 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 and their rising demand around the world has majorly driven the overall proliferation of the global graphite electrodes market. However, soaring prices of needle coke resulting in supply tightness and existence of various types of strict regulations are expected to restraint the market growth.
The rising demand of graphite electrode in oil & gas, construction, electronics and aviation industry which are having substantial growth, the market for graphite electrodes will also bolster in the future. The market is estimated to raise its position due to the newer policies and regulations especially to provide eco-friendly technology like EAF method of steel production by various governments across the world are the key factors driving the global graphite electrodes.
Segmentation of graphite electrodes are done on the basis of product type, application and regional. UHP (Ultra high power) is projecting the global graphite electrodes market ahead because of its penetration into steel production through EAF (Electric arc furnace) method and also due to its excellent quality, high thermal resistance and durability. On the basis of application, the use of graphite electrodes in EAF (Electric arc furnace) is more because EAF route steel production is environmental friendly among other methods. Asia Pacific region is leading on the basis region because China and India which are the largest and second-largest steel producing countries through the EAF method.
Major companies profiled in the global graphite electrodes market report are Graphite India limited, Graf Tech International, SGL Carbon, Aggreko, Showa Denko Carbon, Nippon Carbon, HEG Ltd., Tokai Carbon Co., Ltd., Nantong Yangzi Carbon Co., Ltd., Schutz Carbon Electrodes Pvt. Ltd., and Kaifeng Carbon Co., Ltd among others.
Key segments of the global graphite electrodes market
Product Overview, 2015-2025 (Kilo Tons) (USD Million)
- HP Grade
- UHP Grade
- RP Grade
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
- EAF (Electric Arc Furnace)
- LF (Ladle Furnace) & Others
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa