Industry Background:
The global steel business has experienced the highest growth opportunities due to robust urbanization and industrialization over the past couple of decades. Graphite electrodes are one of the ideal components which is used in manufacturing high-quality steel. Since these electrodes can withstand maximum heat as well as they possess the highest conductivity which upsurges the demand for graphite electrodes. Moreover, these electrodes exhibit excellent mechanical strength which makes them ideal for manufacturing steels and increasing steel consumption across the globe assist in business growth. Graphite Electrode is a needle coke based raw material primarily used in the blast oxygen furnace (BOF) and electric arc furnaces (EAF) for manufacturing steel. Increasing adoption of Ultra High Power (UHP) graphite electrodes will further enhance business growth.
According to AMA Research, the market for Graphite Electrodes is expected to register a CAGR of 3.2% during the forecast period to 2030. This growth is primarily driven by Robustly Increasing Steel Consumption across the Globe
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Heavy Electrical Equipment sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Showa Denko K.K (Japan), Fangda Carbon New Material Co., Ltd. (China), GrafTech International Ltd. (United States), Graphite India Limited (GIL) (India), HEG Limited (India), Tokai Carbon Co., Ltd. (Japan), Jilin Carbon Co., Ltd (China), Nantong Yangzi Carbon Co., Ltd. (China), Kaifeng Carbon Co., Ltd (China) and Nippon Carbon Co., Ltd. (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2024, TMS International entered into an exclusive partnership with Nippon Carbon Co., Ltd to become the North American distributor of graphite electrodes.
In December 2023, Graphite India acquired a 31% stake in Godi India, a battery manufacturer. This move is aimed at diversifying into advanced battery technologies and energy storage systems.The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the
Influencing Trend:
Growing demand for Ultra High Power (UHP) Graphite Electrodes and Rising Adoption of Steel based Housing Structures
Market Growth Drivers:
Robustly Increasing Steel Consumption across the Globe and Increasing Adoption of Electronic Arc Furnace in Steel Manufacturing
Challenges:
Continuously Increasing Distribution Overheads
Restraints:
Growing Petroleum Needle Coke Prices will Increase the Overall Manufacturing Cost and Stringent Government Regulations in Majority of Economies
Opportunities:
Excessive Availability of Steel Scrap will Upsurge Demand for Graphite Electrode Furnaces and Upsurging Demand for Electronic Discharge Machining
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Graphite Electrodes Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Graphite Electrodes Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Graphite Electrodes players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Graphite Electrodes Study Sheds Light on
The Graphite Electrodes Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Graphite Electrodes industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Graphite Electrodes industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.