Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Graphite Electrodes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global graphite electrodes market size reached US$ 6.2 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 8.8 Billion by 2028, exhibiting a CAGR of 6.01% during 2022-2028.
Companies Mentioned
- Energoprom Group
- Fanda Carbon New Material Co. LTD
- Graftech International
- HEG Limited
- Nantong Yangzi Carbon Co. Ltd
- Graphite India
- SHOWA DENKO
- Beijing Great Wall Co. Ltd.
- Nippon Carbon Co Ltd.
- Ameri-Source Specialty Products
- Tokai Carbon Co. Ltd
- Schutzcarbon
Graphite electrodes are large cylindrical structures made up of petroleum needle coke and coal tar pitch. They conduct electrical energy from the power source and convert it into heat which is used to melt scrap metal. Since graphite has high thermal conductivity and low electrical resistance, these electrodes can generate heat up to the temperature of 1600 degree Celsius.
They are primarily used in Electric Arc Furnaces (EAF) and Blast Oxygen Furnaces (BOF) for steelmaking and smelting ferrous alloys. These electrodes help in the manufacturing of high-quality products that can withstand high heat dissipation have high electrical conductivity and exhibit exceptional mechanical strength.
The rising demand for graphite electrodes in steel-oriented sectors such as construction, automotive, infrastructure, and aerospace and defense are the key factor driving the market. The increasing requirement of anti-corrosive products for oil and petroleum wells and pipelines in the oil and gas sector has further enhanced the use of EAF, and subsequently catalyzed the demand for these electrodes.
Additionally, the increasing requirement for Ultra-High Power (UHP) graphite electrodes is another market trend that is projected to drive the market. UHP has a higher thermal and electrical conductivity and can swiftly melt scrap to manufacture steel. It is therefore highly preferred by steel manufacturers, and its demand is expected to grow substantially in the coming years.
Key Market Segmentation:
The analyst provides an analysis of the key trends in each sub-segment of the global graphite electrodes market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
- Ultra-high Power (UHP)
- High Power (HP)
- Regular Power (RP)
Breakup by Application:
- Electric Arc Furnace
- Ladle Furnace
- Non-Steel Application
Key Questions Answered in This Report:
- How has the global graphite electrodes market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global graphite electrodes industry?
- What has been the impact of COVID-19 on the global graphite electrodes industry?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the global graphite electrodes industry?
- What are the key driving factors and challenges in the global graphite electrodes industry?
- What is the structure of the global graphite electrodes industry and who are the key players?
- What is the degree of competition in the global graphite electrodes industry?
- What are the profit margins in the global graphite electrodes industry?
For more information about this report visit https://www.researchandmarkets.com/r/mhpgto
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