Global Graphite Electrodes Industry

Global Graphite Electrodes Industry

  • February 2022 •
  • 295 pages •
  • Report ID: 5819244 •
  • Format: PDF

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Global Graphite Electrodes Market to Reach $14.5 Billion by 2026

Graphite electrodes are used in various industries such as construction, steel making and battery owing to their appealing properties like superior thermal and electrical conductivity, high chemical stability, enhanced mechanical strength and low impurity. Amid the COVID-19 crisis, the global market for Graphite Electrodes estimated at US$10.8 Billion in the year 2020, is projected to reach a revised size of US$14.5 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Ultra-High Power, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$10.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the High Power segment is readjusted to a revised 4.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $2.5 Billion by 2026

The Graphite Electrodes market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2026 trailing a CAGR of 6.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

The market is expected to gain from increasing production of steel and iron across emerging countries along with easy access to steel scrap in China. The market is expected to also gain from increasing dependence of steel manufacturers on electric arc furnaces that use graphite electrodes during the melting process. On the other hand, rising needle coke prices are leading to supply bottlenecks, while factors including market consolidation and limited expansion of the ultra-high power (UHP) graphite electrode market in China are likely to restrain the market growth. Ultra-high power (UHP) graphite electrodes represent the most popular product type in the global graphite electrodes market that is estimated to post a healthy growth in the coming years. These products are anticipated to witness high demand owing to their superior properties such as high durability and thermal resistance along with excellent electrical and thermal conductivity. In addition to finding use in DC and AC electric furnaces, UHP graphite electrodes are widely employed in the steel scrap melting process to expedite production.

China holds the leading share of the production and consumption of graphite electrodes in the region and globally. While focus on high specifications and rising environmental concerns are pushing capacity additions in the Chinese EAF steelmaking industry, rising consumption of graphite electrodes in lithium batteries is driving the demand for needle coke in the country. In addition, anticipated increasing domestic use is expected to fuel graphite electrode demand in China. The graphite electrodes market in China is expected to gain from increasing dependence of the steel industry on EAF technology along with use of made-in-China electrodes. Recent policy mandates across various provinces including Beijing are coercing steel manufacturers to shut down an estimated capacity of around 1.25 million tons. The domestic demand is likely to be further propelled by increasing automobile production and rising residential construction activity, creating the need for steel, iron and non-ferrous alloys. In addition, China is investing to double the production capacity of ultra-high power (UHP) graphite electrodes in the coming years.

Regular Power Segment to Reach $1.6 Billion by 2026

In the global Regular Power segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$768.4 Million in the year 2020 will reach a projected size of US$982.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$479 Million by the year 2026, while Latin America will expand at a 3.9% CAGR through the analysis period.

Select Competitors (Total 31 Featured) -
  • Ameri-Source Specialty Products
  • Beijing Great Wall Co., Ltd.
  • EPM Group
  • Fanda Carbon New Material Co. Ltd.
  • GrafTech International Ltd.
  • Graphite India Limited
  • HEG Limited
  • Jilin Carbon Co., Ltd.
  • Kaifeng Carbon Co. Ltd.
  • Nantong Yangzi Carbon Co. Ltd.
  • Nippon Carbon Co., Ltd.
  • SANGRAF International Inc.
  • Schutz Carbon Electrodes Pvt. Ltd.
  • SEC Carbon Ltd.
  • Showa Denko K.K.
  • Tokai Carbon Co., Ltd.