Industry Outlook and Trend Analysis
The Graphite Electrodes Market was worth USD 9.23 billion in 2014 and is expected to reach approximately USD 12.15 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.10% during the forecast period. Graphite cathodes are huge cylindrical structures composed of needle coke (petroleum coke). These electrodes are accessible in large or small measurements for applications involving high-temperature and high-force. Graphite electrodes are mostly used for the production of steel in electric circular arc furnaces. They are used as a part of steel refining and purifying procedures. The key usage of graphite electrodes is in producing non-ferrous metals and steel. Characteristics, for example, low electrical conductivity, high resistance to heat, protection from thermal shock, and low chemical reactivity are foreseen to boost the interest for graphite chemical.
Drivers and Restraints
Factors, for example, rising interest for graphite electrodes in end-use businesses, developing usage of steel scrap, and increasing demand from the steel business are foreseen to drive interest for graphite electrodes. Graphite electrodes have good electrical properties, high electrical and heat conductivity, high mechanical strength at high temperatures, chemical stability, low content of impurity, and high resistance to vibration. Graphite electrodes that are used in Electric Arc Furnace (EAF) give flexibility in changing its steel generation dissimilar to the blast furnace technique for the production of steel. EAF units can be quickly begun and quit, permitting the steel factory to shift production on the basis of demand. Owing to adaptability, lower fixed costs of EAF, and quick turnaround time, they have picked up prevalence among steel makers. Nonetheless, low accessibility of raw material and volatile prices are inhibiting the graphite electrodes market.
The Graphite Electrodes Market is segmented on the basis of product and application. Based on product the market is segmented into High Power (HP), Regular Power (RP), Ultra-high Power (UHP) out of which the ultra-high power segment represented the major share of the market in 2017. It is anticipated to continue its dominance over the forecast period. By Application the market is segmented into Fused Materials, Inverted, Chemical Processing, Steel and Nonferrous Metals out of which the Steel & non-ferrous metal and fused materials were the main application segments in 2017 and are anticipated to dominate market during the forecast period.
Regional Outlook and Trend Analysis
Asia Pacific is the main region of the graphite electrodes market. Europe and North America hold major shares of the worldwide graphite electrode market. The demand for graphite anodes extended quickly in Asia Pacific in 2017 inferable from change in Chinese government controls. Asia Pacific is a major locale of the graphite terminals market because of high usage and creation of graphite cathodes in Japan, China, and India. Steel and non-ferrous metals are a significant application section in Asia inferable from the area's high share in steel making.
The leading players in the market are Graphite India Ltd, Tokai Carbon, GrafTech, Nantong Yangzi Carbon Co, Nippon Carbon Co Ltd, Showa Denko, SEC CARBON, HEG Ltd, Nantong Yangzi Carbon and Kaifeng Carbon Co. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Graphite Electrodes Market based on region is segmented as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?