Graphite Electrode Market Size, Industry Share And Analysis Report 2024-2033

Overview and Scope

A graphite electrode is a type of electrode made from graphite, a form of carbon. It is used in various industrial applications, primarily in electric arc furnaces (EAFs) for steelmaking. Graphite electrodes are designed to conduct electricity and generate high levels of heat through an electric arc, which melts raw materials and facilitates the production of steel and other metals.

Sizing and Forecast

The graphite electrode market size has grown strongly in recent years. It will grow from $8.01 billion in 2023 to $8.65 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%.  The growth in the historic period can be attributed to growth in raw material availability, steel industry growth, global infrastructure development, shift towards electric arc furnace (eaf) steelmaking, fluctuations in graphite prices.

The graphite electrode market size is expected to see strong growth in the next few years. It will grow to $11.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.  The growth in the forecast period can be attributed to geopolitical factors and trade policies, stricter environmental regulations, supply chain resilience and localization, continued shift to eaf steelmaking, infrastructure and construction projects. Major trends in the forecast period include shift towards long-term contracts, market consolidation and strategic partnerships, diversification in end-use industries, growing importance of recycling.

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Segmentation & Regional Insights

The graphite electrode market covered in this report is segmented –

1) By Electrode Grade: Ultra High Power (UHP), High Power (SHP), Regular Power (RP)

2) By Application: Steel Manufacturing, Silicon Metal Manufacturing, Steel Refining, Smelting Processes, Ferroalloy Production, Non Ferrous Metals Production, Lithium Ion Batteries Production, Other Applications

3) By End Use Industry: Automotive, Appliances, Construction, Machinery, Transportation, Aerospace And Defense, Oil And Refinery, Other End Users

Asia-Pacific was the largest region in the graphite electrodes market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the graphite electrode market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising demand for high-quality steel is expected to propel the growth of the graphite electrodes market going forward. High-quality steel refers to steel that meets stringent standards in terms of its composition, physical properties, and performance. It is made from carefully selected raw materials, undergoes advanced manufacturing processes to remove impurities, and is often alloyed with elements to enhance its properties. Graphite electrodes are essential components in electric arc furnaces (EAFs) used for steel production. EAFs are widely used in steel production, especially to produce specialty and high-quality steels. For instance, in April 2023, according to World Steel Association, a Belgium-based trade association, 2023, steel demand is predicted to rebound by 2.3% reaching a total of 1,822.3 million metric tons (Mt). The forecast for 2024 indicates further growth of 1.7% in steel demand, with a projected total of 1,854.0 million metric tons (Mt). Therefore, the rising demand for high-quality steel is driving the growth of the graphite electrodes market.

Key Industry Players

Major companies operating in the graphite electrode market report are Resonac Holdings Corporation, IBIDEN co. Ltd., Tokai Carbon Co. Ltd., GrafTech International Holdings Inc., SGL Carbon SE, Mersen SA, Fangda Carbon New Material Co. Ltd., Beijing Great Wall Co. Ltd., Graphite India Limited, Toyo Tanso Co. Ltd., HEG Limited, Asbury Graphite Mills Inc., Nippon Carbon Co. Ltd., SEC Carbon Ltd., EPM Group S.A., Beijing Great Wall Co. Ltd., Kaifeng Carbon Co. Ltd., Weaver Industries Inc., SANGRAF International, Ameri-Source Specialty Products, Mercer Gasket and Shim, Nantong Yangzi Carbon Co. Ltd., Coidan Graphite Products Ltd, Dan Carbon, Ukrainskiy Grafit, Kaifeng Pingmei New Carbon Materials Technology Co. Ltd.

The graphite electrode market report table of contents includes:

1. Executive Summary

2. Graphite Electrode Market Characteristics

3. Graphite Electrode Market Trends And Strategies

4. Graphite Electrode Market - Macro Economic Scenario

5. Global Graphite Electrode Market Size and Growth

6. Graphite Electrode Market Segmentation

7. Graphite Electrode Market Regional And Country Analysis

……………….

34. Key Mergers And Acquisitions In The Graphite Electrode Market

35. Graphite Electrode Market Future Outlook and Potential Analysis

36. Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Graphite Electrode Market, Segmentation By Electrode Grade, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Graphite Electrode Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Graphite Electrode Market, Segmentation By End Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 74: Resonac Holdings Corporation Financial Performance

Table 75: IBIDEN co. Ltd. Financial Performance

Table 76: Tokai Carbon Co. Ltd. Financial Performance

Table 77: GrafTech International Holdings Inc. Financial Performance

Table 78: SGL Carbon SE Financial Performance

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