Global Graphite Electrode Rod Market Size By Type (Ultra-High Power (UHP), High Power (HP)), By Application (Electric Arc Furnace Steel Manufacturing, Refinement of Steel), By Geographic Scope And Forecast

Graphite Electrode Rod Market Size And Forecast

Graphite Electrode Rod Market size was valued at USD 4.10 Billion in 2021 and is projected to reach USD 5.14 Billion by 2030, growing at a CAGR of 2.59% from 2022 to 2030.

The increasing applications in the electric arc steelmaking, automobile industry, and ladle refinement of steel are some of the key drivers for the Global Graphite Electrode Rod Market. A significant increase in steel production through the electric arc furnace (EAF) method in recent years is also expected to drive the growth of the Graphite Electrode Rod Market during the forecasted period. The Global Graphite Electrode Rod Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Graphite Electrode Rod Market Definition

Graphite electrode rod is made of petroleum coke and needle coke as raw materials and coal pitch as a binder. After calcination of the ingredients, the process follows kneading, pressing, roasting, graphitization and machining. Lastly, it is released in the electric arc furnace steelmaking in the form of an arc electric energy as a conductor to heat the melting furnace. Electrodes are made of graphite as only graphite can withstand such intense heat. Graphite electrodes are primarily used in an electric arc furnace. They are also used in smelting processes such as refining steel in ladle furnaces where scrap from old cars or appliances is melted to produce new steel.

Global Graphite Electrode Rod Market Overview

Demand for electrodes is also rising in response to improving global economic conditions. Graphite electrodes have characteristics that include high electrical & heat conductivity, low impurity content, good electrical properties, high mechanical strength, and chemical stability, ascribed to which the market for Graphite Electrode Rod is anticipated to grow during the forecasted period. Furthermore, the growth of the market size is further increased by graphite electrode application in gouging operations such as the formation of a slope or groove, removing defects in castings, or welding by arc or gas process.

However, the strict environmental regulations on carbon emissions, a rise in the price of raw materials, and the replacement by the alternatives such as electric arc furnaces could restrain the market growth in the near future. But still, the increasing demand for the lithium-ion battery as a raw material for electric vehicles is driving the market for graphite electrodes. These batteries typically use graphite anodes as they deal well with the movement of lithium ions during charging and discharging. Hence a significant market growth for Graphite Electrode Rod Market can be anticipated during the forecasted period.

Global Graphite Electrode Rod MarketSegmentation Analysis

The Global Graphite Electrode Rod Market is Segmented on the basis of Type, Application, And Geography.

Graphite Electrode Rod Market, By Type

• Ultra-High Power (UHP)• High Power (HP)• Regular Power (RP)

Based on Type, The market is segmented into Ultra-High Power (UHP), High Power (HP), and Regular Power (RP). Ultra-High Power Electrode is expected to dominate the market during the forecasted period. This is ascribed to its higher durability, thermal resistance, and superior quality.

Graphite Electrode Rod Market, By Application

• Electric Arc Furnace Steel Manufacturing• Refinement of Steel• Other Smelting Processes

Based on Application, The market is segmented into Electric Arc Furnace Steel Manufacturing, Refinement of Steel, and Other Smelting Processes. The Electric Arc Furnace Steel Manufacturing application dominates the Graphite Electrode Rod Market because of fewer alternatives available for it in the market.

Graphite Electrode Rod Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global Graphite Electrode Rod Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific region Dominated the market and is projected to stay in the leading position during the forecast period. The dominance is mainly attributed to the expansion of the residential & commercial construction industry. The rising production of motor vehicles boosts the demand for iron & steel, fueling the growth of the graphite electrode.

Key Players

The “Global Graphite Electrode Rod Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Fangda Carbon, GrafTech, Graphite India Limited (GIL), HEG Limited, Jilin Carbon, Kaifeng Carbon Co., Ltd, Nippon Carbon, Showa Denko KK, Tokai Carbon, and Yangzi Carbon.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• November 2021, GrafTech is a unique company reaching a point of transition. The company is currently experiencing a strengthening demand environment along with alleviation of several idiosyncratic headwinds, creating a big opportunity – but there are still several environmental challenges to overcome. GrafTech is one of the primary producers of graphite electrodes in the West and owns a huge market share. Crucially, GrafTech is the only producer that is vertically integrated into petroleum needle coke via its ownership of Seadrift, which by the company’s estimate, represents 20% of ex-China needle coke capacity.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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