Global Graphite Electrode Rod Marke
The global graphite electrode rod market accounted for US $7 billion in 2020 and is estimated to be US$ 15.2 billion by 2029 and is anticipated to register a CAGR of 9.0%.
The report "Global Graphite Electrode Rod Market, By Type (Regular Power Graphite Electrodes, High Power Graphite Electrodes, and Ultra High Power Graphite Electrodes), By Application (Electric ARC Furnace Steel, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In September 2017, Tokai Carbon Co., Ltd. acquired SGL GE’s U.S. business to set up a manufacturing base in North America, thereby increasing the company's presence in a prominent region of the EAF market.
- In October 2020, Showa Denko announced merger of subsidiaries; Showa Denko Carbon Holding (SDCH) merged with subsidiary Showa Denko Europe (SDE). These mergers expand their business operation in Europe.
Analyst View:
Growing demand for graphite electrode rod in the steel industry
Steel production through the electric arc furnace method has significantly increased in developed nations across Europe and the Americas owing to the high availability of scrap. Electric arc furnace method accounts for over 60% steel production in India, while in the Middle East, over 90% of steel is produced through an electric furnace. These factors have created sufficient demand for an electrode in these furnaces in the market. The steel industry is relying on the EAF technology and demands for made in china electrodes. In China, more than 353,900 MT of graphite electrodes has been consumed, which is expected to increase at a 3.10% rate of CAGR. Graphite electrodes have characteristics that include high electrical & heat conductivity, low content of impurity, good electrical properties, high mechanical strength and chemical stability.
Stringent regulations of government bodies
The strict environment regulations of carbon emissions, several coke production facilities across the China have shut down. With the introduction of the new environmental regulations in the China, most of the induction furnaces were replaced by the electric arc furnace, which consume graphite electrodes to melt steel scrape. The country has closed the capacity in the range of 100- 120million tons of induction Furness consisting of around 600 plants nationwide. The Chinese government identified some highly polluting industries and asked them to close down. The many graphite electrodes manufacturing capacity has been shut down in China due to the environment concern. However, rise in the price of raw material might be hampering the targeted market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Graphite Electrode Rod Market”, By Type (Regular Power Graphite Electrodes, High Power Graphite Electrodes, and Ultra High Power Graphite Electrodes), By Application (Electric ARC Furnace Steel, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global graphite electrode rod market accounted for US $7 billion in 2020 and is estimated to be US$ 15.2 billion by 2029 and is anticipated to register a CAGR of 9.0%. The market report has been segmented on the basis of type, application and region.
- Depending upon type, the ultra-high power graphite electrodes segment is projected to grow at highest CAGR over the forecast period. Higher durability, higher thermal resistance, and superior quality are some of the properties that are propelling the demand for UHP graphite electrode, especially in the steel industry. All the major global players are primarily into the manufacturing of UHP graphite electrodes.
- Depending upon application, the electric arc furnace steel segment is projected to grow at highest CAGR over the forecast period. There has been a continuous increase in the production of EAF steel worldwide, which is the prime driver of the demand for graphite electrode. For instance; in China, the share of steel production through EAF increased from 6% in 2016 to 9% in 2017 (still below the global average of 46% excluding China). The government of China has set a target of achieving 20% steel production through EAF by 2020.
- By region, Asia-Pacific region held the dominant position in the global graphite electrodes market and is projected to continue its dominant position during the forecast period. The dominance in the market is mainly attributed to the expansion of the commercial & residential construction industry with rising production of motor vehicles boosting the demand for iron & steel and non-ferrous alloys positively fueling the growth of the graphite electrode in the coming year.
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Competitive Landscape:
The prominent player operating in the global graphite electrode rod market includes Fangda Carbon, GrafTech, Graphite India Limited (GIL), HEG Limited, Jilin Carbon, Kaifeng Carbon Co., Ltd, Nippon Carbon, Showa Denko K.K, Tokai Carbon, and Yangzi Carbon.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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