At 7.49% CAGR, Graphite Electrode Market Size to hit USD 14.71 Bn to 2028, says Brandessence Market Research

London (Bloomberg) -- 3 Feb 2022

 

LONDON, Feb. 3, 2022 /PRNewswire/ -- According to Brandessence Market
Research, The Graphite Electrode Market size reached USD 7.65 Billion in 2021.
The Graphite Electrode Market is growing at robust CAGR of 7.49%, and reach
size of USD 14.71 Billion by end of Forecast 2028.

Increasing demand for engineering and construction materials with the surge in
the production of steel and iron as well as rise in industrialization with
modern infrastructures are some important factors driving the growth of the
Global Graphite Electrode Market.

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Scope of The Graphite Electrode Market Report:

Graphite electrode is the heating element used in the electric arc furnace for
manufacturing steel from scrap, old cars, and other appliances. The electrode
provides heat to this scrap for melting to produce new steel. Electric arc
furnaces are widely used in the steel and aluminum production industry as it
is cheaper to build. The graphite electrodes can be assembled into columns as
they are a part of the electric furnace lid. When the electricity is supplied
that passes through these graphite electrodes, forming an arc of intense heat
that melts the scrap steel. Electrodes are available in different sizes
depending upon the requirement of heat and the size of the electric furnace.

For the production of 1 tonne of steel, approximately 3 kg of graphite
electrode is required. While manufacturing the steel, the temperature of the
electrode tip reaches around 3000 degrees Celsius as graphite has the capacity
to withstand such a high temperature. Needle and petroleum coke are the major
raw materials used for making graphite electrodes which take up to six months
to manufacture followed by certain processes including baking and rebaking to
convert the coke into graphite. Graphite electrodes are easier and faster to
manufacture than copper electrodes as it does not require additional process
like manual grinding.

Graphite Electrodes Manufacturers

Global graphite electrodes market report covers prominent players like
GrafTech U.S., Fangda Carbon China, SGL Carbon Germany, Nantong Yangzi Carbon
Co., Ltd., Schutz Carbon Electrodes Pvt. Ltd., Aggreko, Showa Denko Carbon,
Kaifeng Carbon Co., Showa Denko Japan, Graphite India, HEG India, Tokai Carbon
Japan, Nippon Carbon Japan, SEC Carbon Japan  and Others. GrafTech U.S.,
Fangda Carbon China and Graphite India collectively account for 454,000 tones
of production Capacity.

Global Graphite Electrode Market Dynamics:

Increasing demand of engineering and construction materials with surge in the
production of steels and iron as well as rise in industrialization with modern
infrastructures are the major factors driving the growth of the market.
According to the World Green Building trend , green and sustainable building
and construction is expected to grow at 22.8% annually between 2012 and 2017.
In addition to this rise in the spending on the construction of huge
infrastructure will boost the growth of global graphite electrode market.
According to the recent research by oxford economics, project and
infrastructure spending was USD 4 trillion in 2012 and is expected to reach to
more than USD 9 trillion by 2025. These massive projects will surge the demand
for steels and aluminum-based materials which directly enhance the graphite
electrode for the manufacturing of construction materials. In addition to
this, the major factor driving the growth of graphite electrode is rapidly
increasing digitalization with advanced technology.

However, fluctuation in the raw material prices and high cost of maintenance
and installation of graphite electrode are some of the factors may hinder the
market growth. In spite of that, rising focus on the technological development
of electric arc furnaces such as; recently D.C. (Direct Current) furnaces have
been utilized to enhance the production capacity of both the furnace and
transformer by using higher currents for graphite electrode manufacturing can
create huge opportunity for the further growth of the market.

Link: https://www.bloomberg.com/press-releases/2022-02-03/at-7-49-cagr-graphite-electrode-market-size-to-hit-usd-14-71-bn-to-2028-says-brandessence-market-research