Graphite Electrode Market Driver: The Surge In Demand For High-Quality Steel Fuels Graphite Electrodes Market
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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 , according to World Steel Association, a Belgium-based trade association, , steel demand is predicted to rebound by 2.3% reaching a total of 1,822.3 million metric tons (Mt). The forecast for 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.
Graphite Electrode Market Driver: Graphite Electrodes Market Surges With The Rise Of Electric Vehicles
The increasing use of electric vehicles (EVs) is expected to propel the growth of the graphite electrodes market going forward. Electric vehicles (EVs) are automobiles that use electric power as their primary source of energy for propulsion. Graphite electrodes is used in lithium-ion batteries, which are the heart of electric vehicles (EVs) to efficiently store lithium ions during charging and generate the electrical current to power the EV. For instance, in July , according to the International Energy Agency, a France-based international organization, the electric car market is experiencing remarkable expansion, with sales surpassing 10 million in . The market share for electric cars has tripled over a span of three years, rising from 4% in to 14% in . Moreover, electric vehicle (EV) sales in China rose from 3.3 million in to 6 million in , while in Europe, EV sales increased from 2.3 million in to 2.7 million in . In the United States, EV sales climbed from 0.6 million in to 1 million in . Therefore, the increasing use of electric vehicles (EVs) is driving the growth of the graphite electrodes market.
Global Graphite Electrode Market Major 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.
Global Graphite Electrode Market Trend: Technological Wave Reshaping Graphite Electrodes Industry
Technological advancements are a key trend gaining popularity in the graphite electrodes market. Companies operating in the graphite electrode market are adopting recent technologies to sustain their position in the market. For instance, in March , Battrion AG, a Switzerland-based battery technology company, along with its partner Jagenberg Converting Solution GmbH, a Germany-based machine and equipment manufacturer unveiled Battrions Aligned Graphite Technology for the lithium-ion battery. Aligned Graphite Technology is an innovative fabrication technology for lithium-ion batteries. It improves the microstructure of negative electrodes, resulting in enhanced battery performance and faster charging capabilities. The technology lowers cell resistance, leading to more efficient charge and discharge processes. It offers cost savings in battery production and is compatible with standard graphite materials, requiring no modifications to existing manufacturing processes. The performance benefits have been validated by leading automotive OEMs and cell manufacturers. Aligned Graphite Technology has the potential to revolutionize the EV and high-power battery industry by improving energy storage and optimizing battery manufacturing.
Global Graphite Electrode Market Trend: Advanced Stereo Electroencephalography Products In The Graphite Electrodes Market
Major companies operating in the graphite electrodes market are focusing towards developing innovative solutions such as stereo electroencephalography (sEEG) electrodes. sEEG electrodes are specialized electrodes used in the context of stereo electroencephalography procedures. Stereo electroencephalography is a neurosurgical technique that involves the placement of depth electrodes into specific regions of the brain to record electrical activity. For instance, in May , NeuroOne Medical Technologies Corporation, a US-based medical device company, announced the launch of Evo sEEG electrode product line. The Evo sEEG electrode technology provides comprehensive solutions for stereo electroencephalography recording and brain stimulation. Additionally, it holds potential for future applications in spinal cord stimulation and ablation. These advancements target patients dealing with epilepsy, chronic back pain, and Parkinson disease.
Graphite Electrode Market Merger And Acquisition: Cognor Holdings Strategic Move Of Expanding Steel Production With Jap Industries And Spedex Acquisition
In December , Cognor Holding, a Poland-based steel production company acquired JAP Industries and Spedex for approximately $12.2 million. With this acquisition, Cognor looks forward to strengthening its steel production capabilities by avoiding raw material procurement delays. JAP Industries is a Czech-based graphite electrodes manufacturer and Spedex is Czech-based logistics provider company.
Regional Outlook For The Global Graphite Electrode Market
Asia-Pacific was the largest region in the graphite electrodes market in 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.
The countries covered in the graphite electrode market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The graphite electrodes market consists of sales of electrode carbon paste, electrode holders, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The graphite electrodes market research report is one of a series of new reports from The Business Research Company that provides graphite electrodes market statistics, including the graphite electrodes industry's global market size, regional shares, competitors with a graphite electrodes market share, detailed graphite electrodes market segments, market trends, and opportunities, and any further data you may need to thrive in the graphite electrodes industry. This graphite electrodes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
SPHERICAL INSIGHTS LLP
The Global Graphite Electrode Market Size was valued at USD 5.21 Billion in and the Worldwide Graphite Electrode Market Size is expected to reach USD 8.91 Billion by , according to a research report published by Spherical Insights & Consulting. Companies Covered: GrafTech International, Zhongze Group, Dan Carbon, Showa Denko, Tokai Carbon, Graphite India Ltd., Resonac Holdings Corporation, Fangda Carbon New Material Co., Ltd., Sangraf International, SEC Carbon, Ltd., Nippon Carbon, EPM Group, Nantong Yangzi Carbon Co. Ltd., Misano Group, Kaifeng Carbon Co., Ltd. and other key vendors.
New York, United States, Jan. 22, (GLOBE NEWSWIRE) -- The Global Graphite Electrode Market Size to Grow from USD 5.21 Billion in to USD 8.91 Billion by , at a Compound Annual Growth Rate (CAGR) of 5.51% during the forecast period.
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Graphite electrodes serve a vital purpose in the manufacturing of steel in electric arc furnaces (EAFs), as they transport electrical energy from the power source to the steel melt in the EAF bath. These electrodes are frequently produced through calcination using premium materials as binders such as petroleum coke, needle coke, and coal tar pitch. They are designed for increased productivity and ultra-high performance, and a wide range of electrode sizes are available for a wide range of industrial applications. Furthermore, the rise of the construction, automotive, infrastructure, aerospace, and defense sectors, which are major users of steel products, is driving demand for graphite electrodes. Additionally, the growing popularity of electric vehicles (EVs) and renewable technologies is raising the demand for graphite electrodes, which are used in the production of high-quality steel and other specialty materials.
Market Outlook
Global Graphite Electrode Market Price Analysis
The global graphite electrode market has dynamic pricing that is influenced by a variety of factors. Graphite electrode prices are determined by raw material costs, which are primarily derived from petroleum and needle coke. Fluctuations in these inputs, which are influenced by geopolitical events and market trends, have an impact on overall production costs. Demand reflects the health of the steel industry, which is affected by global economic conditions. Furthermore, technological advancements and environmental regulations have a significant impact on production processes and costs. Market volatility is influenced by geopolitical factors such as trade tensions.
Global Graphite Electrode Market Distribution Analysis
Direct sales, distributors, and online platforms are all examples of distribution channels. Geographical factors are important, with different demand and supply patterns in different regions. Understanding market nuances, adapting to regional preferences, and navigating regulatory landscapes are all necessary for efficient distribution.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Graphite Electrode Market Size, By Grade (Ultra High Powered (UHP), High Powered (HP), Regular Powered (RP)), By Diameter (< 200mm, 201mm to 400mm, 401mm to 600mm, > 600mm), By Application (Electric Arc Furnace (EAF), Basic Oxygen Furnace (BOF), Non-Steel Application), By Geographic Scope and Forecast, ' ."
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Insights by Grade
The high powered segment accounted for the largest market share over the forecast period to . High-power electrodes are critical, especially in applications that require enhanced current carrying capacity and endurance. EAFs are growing increasingly popular because of their efficacy and environmental benefits as global steel consumption rises, increasing demand for high-powered electrodes. They are also intended to improve energy efficiency and reduce total operational expenses.
Insights by Diameter
The 401mm to 600mm segment accounted for the largest market share over the forecast period to . In electric arc furnaces (EAFs), graphite electrodes with diameters ranging from "401mm to 600mm" are widely utilized. It is a versatile line that can meet a variety of steelmaking requirements. Because it strikes a balance between power capacity, performance, and cost-effectiveness, this diameter segment is suited for a wide range of steel manufacturing applications.
Insights by Application
The electric arc furnace (EAF) segment accounted for the largest market share over the forecast period to . The increasing use of EAFs in steel production is driving segment growth, owing to their lower environmental impact as compared to alternative manufacturing techniques. Furthermore, the introduction of digital technologies, such as sensors and data analytics, into electric arc furnaces has raised demand, increasing global market expansion.
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Insights by Region
Asia Pacific is anticipated to dominate the graphite electrode market from to . This is due to the region's expanding economy, increasing industrialization, and high energy prices. Furthermore, the long-standing steel and aluminum industries are fueling market expansion. China leads the way in terms of graphite electrode usage and manufacturing capacity in Asia Pacific, followed by India and Japan. Furthermore, rising urbanization and industrialization have boosted construction activity, driving total market demand in this region higher.
North America is witnessing the fastest market growth between to . The region's steel industry is undergoing technical advances, with a focus on long-term sustainability, resulting in an increase in demand for carbon-neutral steel manufacturing methods and, eventually, stronger market demand. Furthermore, natural graphite reserves and existing industrial infrastructure help to drive the graphite electrode market, notably in North America.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Graphite Electrode Market Includes GrafTech International, Zhongze Group, Dan Carbon, Showa Denko, Tokai Carbon, Graphite India Ltd., Resonac Holdings Corporation, Fangda Carbon New Material Co., Ltd., Sangraf International, SEC Carbon, Ltd., Nippon Carbon, EPM Group, Nantong Yangzi Carbon Co. Ltd., Misano Group, Kaifeng Carbon Co., Ltd. and other key vendors.
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Market Segmentation
This study forecasts revenue at global, regional, and country levels from to .
Graphite Electrode Market, Grade Analysis
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Ultra High Powered (UHP)
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High Powered (HP)
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Regular Powered (RP)
Graphite Electrode Market, Diameter Analysis
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< 200mm
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201mm to 400mm
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401mm to 600mm
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> 600mm
Graphite Electrode Market, Application Analysis
Graphite Electrode Market, Regional Analysis
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Germany
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Uk
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France
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Italy
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Spain
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Russia
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Rest of Europe
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China
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Japan
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India
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South Korea
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Australia
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Rest of Asia Pacific
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Brazil
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Argentina
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Colombia
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UAE
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Saudi Arabia
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South Africa
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