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    Graphite Electrode Market For The Metal Industry Report

    Graphite Electrode Market For The Metal Industry Report
    Report code - SR2785 Published On : Jan,2024 No. of Pages: 110
    Graphite Electrode Market for the Metal Industry: Market Size, Share, Trend, Forecast, Com See more...

    Market Highlights

    Graphite electrode (GE) is an essential component of steel production through the electric arc furnace (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 is lower than the developed countries but will rise rapidly in the coming years. This will imprint a significant upward trend in 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 electrodes coupled with the consistent increase in the EAF steel production. The preference for lithium-ion batteries 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 for graphite electrodes in the production of EAF steel makes the material a strategic resource rather than mere a commodity.

    In 2019-20, the market saw a slight decrease in volume. The influence of COVID-19 was particularly evident in the value market due to price fluctuations. However, the subsequent year witnessed a double-digit growth in both, value and volume markets. The increased focus on infrastructure projects, post-pandemic economic recovery, and the revival of manufacturing activities have contributed to a rise in demand for graphite electrodes in the metal industry. Technological advancements in electrode manufacturing, aimed at enhanced performance and durability, act as additional drivers. Overall, the market is expected to register a CAGR of 7.7% during the forecast period.

    Market Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Product-Type Analysis

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

    UHP is anticipated to be the most preferred and fastest-growing product in the years to come.

    Metal-Type Analysis

    Steel, Silicon Metal, Aluminum, and Others

    Steel is to remain the leading metal during the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and The Rest of the World

    Asia-Pacific is expected to be the dominant and fastest-growing market over the next five years.

     

    By product type, the graphite electrode market for the metal industry is segmented into ultra-high power (UHP), high power (HP), and regular power (RP). UHP is expected to remain the most preferred as well as the fastest-growing product during the forecast period. Higher durability, higher thermal resistance, and superior quality are some of the properties that are propelling the demand for UHP graphite electrodes, especially in the steel industry. All the major global players are primarily in the manufacturing of UHP graphite electrodes. 

    Based on the metal type, the market is segmented into steel, silicon metal, aluminum, and others. Steel is currently dominating the market and is expected to maintain its dominance during the forecast period. The market is experiencing dual growth due to increasing steel production and a shift from traditional steel production methods to the Electric Arc Furnace (EAF) method, which employs graphite electrodes. For instance, in China, the share of steel production through EAF was 10% in 2022 (still below the global average of 45% excluding China). The government of China has set a target of achieving 20% steel production through EAF by 2030.

    In terms of regions, Asia-Pacific is expected to remain the largest market for graphite electrodes during the forecast period. China is the largest steel-producing country through the EAF method globally. Furthermore, among the leading players, five players Resonac Corporation (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.

    Key Players

    The following are the key players in the graphite electrode market for the metal industry:

    • GrafTech International Ltd.
    • Resonac Corporation (Formerly Showa Denko Materials Co., Ltd.)
    • Fangda Carbon New Material Co., Ltd.
    • Tokai Carbon Co., Ltd
    • Graphite India Limited
    • HEG Limited
    • Energoprom
    • Nippon Carbon Co. Ltd
    • Sangraf International
    • SEC Carbon, Ltd.

    Research Methodology

    This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Graphite Electrode Market for the Metal Industry realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for existing and new players
    • Key success factors

    The graphite electrode market for the metal industry is segmented into the following categories. 

    Graphite Electrode Market for the Metal Industry, by Product Type

    • UHP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • HP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • RP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Graphite Electrode Market for the Metal Industry, by Metal Type

    • Steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Silicon Metal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Graphite Electrode Market for the Metal Industry, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions

    The graphite electrode market for the metal industry is estimated to register a CAGR of 7.7% by 2028, driven by increased focus on infrastructure projects, post-pandemic economic growth, and push for steel production via the EAF method.

    GrafTech International Ltd., Resonac Corporation (formerly Showa Denko Materials Co., Ltd.), Fangda Carbon New Material Co., Ltd., Tokai Carbon Co., Ltd, Graphite India Limited, HEG Limited, Energoprom, Nippon Carbon Co. Ltd, Sangraf International, and SEC Carbon, Ltd., are the leading players in the market.

    Asia-Pacific is expected to remain the dominant graphite electrode market for the metal industry in the foreseeable future. The region's dominance is propelled by the rapid expansion of infrastructure projects, increasing demand for high-quality steel, and push for steel production through EAF.

    Ultra-high power (UHP) is estimated to be the most preferred product in the graphite electrode market for the metal industry. Higher durability, higher thermal resistance, and superior quality are some of the properties that are propelling the demand for UHP graphite electrodes.

    Steel is estimated to dominate the market in the coming years. There has been a continuous increase in the production of EAF steel worldwide, which is the prime driver of the demand for graphite electrodes.