Graphite Electrode Market Size, Share, Companies & Trends Analysis Report By Product Type (Regular power (RP), High power (HP), Ultra-high power (UHP)), by Applications (Steel production, Silicon metal production, Aluminum production) Based On Region And Segment Forecasts, 2022 - 2028

  • Report ID: BMRC 160 | Number of pages: 200 | Published Date: Feb 2022

    Published | Category: Chemical And Materials | Delivery Timeline: 48 hrs

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Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027

The Global Graphite Electrode Market is valued at USD 7.65 Billion in 2021 and is expected to reach USD 14.71 Billion by 2028 with a CAGR of 7.49% over the forecast period.

Increasing demand for engineering and construction materials with the surge in the production of steel and iron as well as rise in industrialization with modern infrastructures are some important factors driving the growth of the Global Graphite Electrode Market.

Scope of The Graphite Electrode Market Report:

Graphite electrode is the heating element used in the electric arc furnace for manufacturing steel from scrap, old cars, and other appliances. The electrode provides heat to this scrap for melting to produce new steel. Electric arc furnaces are widely used in the steel and aluminum production industry as it is cheaper to build. The graphite electrodes can be assembled into columns as they are a part of the electric furnace lid. When the electricity is supplied that passes through these graphite electrodes, forming an arc of intense heat that melts the scrap steel. Electrodes are available in different sizes depending upon the requirement of heat and the size of the electric furnace.

For the production of 1 tonne of steel, approximately 3 kg of graphite electrode is required. While manufacturing the steel, the temperature of the electrode tip reaches around 3000 degrees Celsius as graphite has the capacity to withstand such a high temperature. Needle and petroleum coke are the major raw materials used for making graphite electrodes which take up to six months to manufacture followed by certain processes including baking and rebaking to convert the coke into graphite. Graphite electrodes are easier and faster to manufacture than copper electrodes as it does not require additional process like manual grinding.

Graphite Electrodes Manufacturers

In terms of market share size, few of the major players currently dominate the market are,

  • GrafTech U.S.
  • Fangda Carbon China
  • SGL Carbon Germany
  • Showa Denko Japan
  • Graphite India
  • HEG India
  • Tokai Carbon Japan
  • Nippon Carbon Japan
  • SEC Carbon Japan

Graphite Electrode Market

Graphite Electrodes Market Segmentation:

The Global Graphite Electrode Market is segmented on the basis of product type, application, and region & country level. On the basis of product type, the digital market is classified as regular power (RP), high power (HP) and ultra-high power (UHP). On the basis of application, the market is segmented into steel production, silicon metal production, aluminum production and others.

By Type-

  • Regular Power (RP),
  • High Power (HP),
  • Ultra-high Power (UHP)

By Application-

  • Steel and Nonferrous Metals
  • Fused Materials
  • Inverted
  • Chemical Processing

Graphite Electrodes Market Growing demand for steel in construction, oil & gas, and automotive industries is expected to fuel the graphite electrode market, more than 50% of the steel produced globally was used in the building & infrastructure industry.  This report includes drivers, restraints, opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report provides details analysis of regional segmentation with type and application.

Graphite electrodes are one of a kind of conductor and an essential component in the steelmaking process. In this process, iron scrap gets melted in an electric arc furnace and recycled. It is the graphite electrodes inside the furnace that actually melt the iron. Graphite shows high thermal conductivity and is very resistant to heat and impact. It possesses low electrical resistance, means it can conduct the large electrical currents needed to melt iron. Graphite electrodes are mainly used in electric arc furnaces (EAF) and ladle furnace (LF) for steel production, ferroalloy, silicon metal Graphite electrodes are used in electric arc furnace (EAF) and ladle furnace (LF) for steel production, ferroalloy production, silicon metal production and smelting processes

There are various factors driving the growth of graphite electrodes one of the majors driving the growth of the market are growing demand of steel from developing country and different industries like construction, oil & gas, and automotive industries. In addition to this, China own requirement for graphite electrodes is expected to jump enormously. This is led by twin factors of closing units operating on inefficient steel-making technology having an adverse environmental impact and replacing it with units with electric arc furnace (EAF) technology. China closed induction and blast furnace units having around 155 Million Tons and 115 Million Tons capacities, respectively. At the same time, China has been installing and commenced construction for 105 new EAFs, with a capacity of 66 Million Tons. Graphite electrode ultra-high power (UHP) segments was widely used and accounting for more than 65% of the revenue share and are expected to show continues dominance during the forecast period 2022-2028.

Unstable raw material prices are expected to restrain the market growth of graphite electrodes due to adverse impacts on supply as well as profit margins of manufacturers. Needle coke is the prime raw material used for the manufacturing of graphite electrodes. Needle coke has the contribution of approximately 39% of the total cost of the finished graphite electrodes product. Fluctuation in the global crude oil price is expected to hamper the Growth of the Needle Coke Market.

Global graphite electrodes market report covers prominent players like GrafTech U.S., Fangda Carbon China, SGL Carbon Germany, Showa Denko Japan, Graphite India, HEG India, Tokai Carbon Japan, Nippon Carbon Japan, SEC Carbon Japan and Others. GrafTech U.S., Fangda Carbon China and Graphite India collectively account for 454,000 tones of production Capacity.

Global Graphite Electrode Market Dynamics–

Increasing demand of engineering and construction materials with surge in the production of steels and iron as well as rise in industrialization with modern infrastructures are the major factors driving the growth of the market. According to the World Green Building trend, green and sustainable building and construction is expected to grow at 22.8% annually between 2012 and 2017. In addition to this rise in the spending on the construction of huge infrastructure will boost the growth of global graphite electrode market. According to the recent research by oxford economics, project and infrastructure spending was USD 4 trillion in 2012 and is expected to reach to more than USD 9 trillion by 2025. These massive projects will surge the demand for steels and aluminum-based materials which directly enhance the graphite electrode for the manufacturing of construction materials. In addition to this, the major factor driving the growth of graphite electrode is rapidly increasing digitalization with advanced technology.

However, fluctuation in the raw material prices and high cost of maintenance and installation of graphite electrode are some of the factors may hinder the market growth. In spite of that, rising focus on the technological development of electric arc furnaces such as; recently D.C. (Direct Current) furnaces have been utilized to enhance the production capacity of both the furnace and transformer by using higher currents for graphite electrode manufacturing can create huge opportunity for the further growth of the market.

Global Graphite electrode Market Regional Analysis–

The Asia Pacific is expected to dominate the global graphite electrode market due to the rapidly increasing infrastructure investment on account of surge in population and the presence of a huge number of manufacturing companies mainly in China, Japan and India. According to the World Bank Group in the Asia Pacific, China is the largest manufacturer of electrode graphite. China has become a leading global investor for construction and engineering, which has made investments particularly in Latin America, Europe, and the United States. This rapid international expansion has made top of Fortune Global 500 rankings for Chinese companies. According to China State Construction Engineering (CSCEC) in 2017, China invested in building new infrastructure for the growth of its country with an estimated investment made USD 158 billion, as the third-largest investor in the world after the United States, with USD 342 billion, and Japan, with USD 160 billion.

North America is growing at a rapid pace in the graphite electrode market due to the increasing technological advancement with rising construction and building new infrastructure in this region followed by Europe. This is due to several factors like surge in spending related to digital technology, rise in population, GDP, and market maturity. Europe is also a significant contributor in the growth of the graphite electrode market due to the rising construction facility for development. According to the recent report of the HM government, in Europe, UK construction businesses hold the largest share forecasting around Euro 200 billion global market for integrated city systems by 2030. This will generate huge demand for the graphite electrode market for construction materials’ productions.

Report Analysis Details
Historical data 2015 - 2020
Forecast Period 2021 - 2028
Market Size in 2021: USD 7.65 Billion 
Base year considered 2020
Forecast Period CAGR %:

7.49% 

Market Size Expected in 2028: USD 14.71 Billion 
Tables, Charts & Figures: 175
Pages 200
Graphite Electrodes Manufacturers GrafTech U.S., Fangda Carbon China, SGL Carbon Germany, Showa Denko Japan, Graphite India, HEG India, Tokai Carbon Japan, Nippon Carbon Japan, SEC Carbon Japan
Segments Covered By Type, By Application
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Global Graphite Electrode Industry Reports:

  • Global Graphite Electrode Industry report covers in-depth historical and forecast analysis.
  • Global Graphite Electrode Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Global market sales (K Units), Global market Drivers, Graphite Electrodes Manufacturers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
  • Global Graphite Electrode Industry report helps to identify opportunities in the marketplace.
  • Global Graphite Electrode Industry report covers an extensive analysis of emerging trends and competitive landscape.

On Special Requirement Graphite Electrode Market  Report is also available for the below Regions and Country:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA


Frequently Asked Questions (FAQ) :
The Global Graphite Electrode Market is Anticipated to Reach USD 14.71 Billion by 2028 with a registering a CAGR of 7.49% over the forecast period.
The Global Graphite Electrode Market is valued at USD 7.65 Billion in 2021
Global graphite electrodes market report covers prominent players like GrafTech U.S., Fangda Carbon China, SGL Carbon Germany, Showa Denko Japan, Graphite India, HEG India, Tokai Carbon Japan, Nippon Carbon Japan, SEC Carbon Japan and Others.
Increasing demand for engineering and construction materials with the surge in the production of steel and iron as well as rise in industrialization with modern infrastructures are some important factors driving the growth of the Global Graphite Electrode Market.
The Asia Pacific is expected to dominate the global graphite electrode market due to the rapidly increasing infrastructure investment on account of surge in population and the presence of a huge number of manufacturing companies mainly in China, Japan and India.



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Graphite Electrode Market Share, Size, Growth, Trends, And Industry Analysis By 2028

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Graphite Electrode Market Size, Share, Companies & Trends Analysis Report By Product Type (Regular power (RP), High power (HP), Ultra-high power (UHP)), by Applications (Steel production, Silicon metal production, Aluminum production) Based On Region And Segment Forecasts, 2022 - 2028

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