Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Graphite Electrode Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global graphite electrode market is projected to reach $10.5 billion by 2028, growing at a CAGR of 6.5% from 2023 to 2028. The future for the graphite electrode market appears promising, with key opportunities in the steel, silicon metal, and aluminum sectors.
Key Driving Factors:
- There's a rising demand for anti-corrosion products in the oil and gas sector.
- The increasing need for steel in industries like construction, automotive, and aerospace is also driving the market.
Key Insights:
- UHP graphite electrodes are anticipated to experience the fastest growth because of their superior strength, thermal resistance, and high-strength properties.
- The steel sector will remain the dominant application segment, thanks to the growing consumption of steel in various sectors.
- The Asia Pacific region will maintain its position as the largest market due to the manufacturing hubs of Electric Arc Furnace (EAF) in China and India, along with the presence of significant market players.
The report offers market size estimations, trend and forecast analysis, segmentation analysis, regional breakdown, growth opportunities, strategic analysis (including mergers and acquisitions and new product development), and an assessment of the industry's competitive intensity based on Porter's Five Forces model.
Report Segmentation:
By Product Type:
- Ultra-High Power (UHP)
- High Power
- Regular Power
By Application:
- Steel
- Silicon Metal
- Aluminum
By Region:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Competitive Landscape:
Major players in the graphite electrode market, such as Showa Denko, GRAFTech, Graphite India Limited (GIL), HEG, and Tokai Carbon, compete based on product quality. Their strategies include expanding manufacturing facilities, investing in R&D, developing infrastructure, and integrating across the value chain.
For more information about this report visit https://www.researchandmarkets.com/r/o5zerb
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