Graphite electrode market is anticipated to grow at a considerable CAGR of 6.4% during the forecast period. The increasing rate of high-speed trains in countries such as China, India, Japan has resulted in the construction of special railroads, which has resulted in increased carbon steel consumption, boosting crude steel demand over the forecast period. Moreover, the automotive industry is expanding in ASEAN countries such as Malaysia, Thailand, Indonesia, and Vietnam, driving up crude steel demand. Advanced High Strength Steel (AHSS) is now being used in nearly every new vehicle as it enables flexible and creative designs with properties, such as ultra-high strength and better bending capacity. Therefore, the high demand for graphite electrodes from countries including China and Japan is attributed to the steep rise in crude steel production. According to the World Steel Association, in 2018, China and Japan produced 928.3 and 104.3 million tonnes of crude steel respectively.
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in April 2020, Tokai Carbon and its subsidiary Tokai Cobex announced to acquire Carbone Savoie International SAS, a French carbon and graphite manufacturer, for US$183 million. Through this acquisition, Tokai Carbon will be able to grow their smelting and lining business and fine carbon business. Additionally, along with improving profitability, the company can also diversify its broader portfolio with Carbone Savoie’s complementary offering.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Electrode Grade
- By Application
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Fangda Carbon New Material Technology Co. Ltd, GrafTech International, Graphite India Limited, Jilin Carbon Co. Ltd, and Showa Denko K.K.
Graphite Electrode Market Report by Segment
By Electrode Grade
- Ultra-High Power (UHP)
- High Power (SHP)
- Regular Power (RP)
By Application
- Electric Arc Furnace
- Basic Oxygen Furnace
- Non-steel Application
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Graphite Electrode Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- EPM Group
- Fangda Carbon New Material Technology Co. Ltd
- GrafTech International
- Graphite India Limited
- HEG Limited
- HEG Ltd
- Jilin Carbon Co. Ltd
- Kaifeng Pingmei New Carbon Material Technology Co. Ltd
- Misano Group
- Nantong Yangzi Carbon Co. Ltd
- Nippon Carbon Co. Ltd
- Sangraf International Inc.
- Sec Carbon Limited
- Schutz Carbon Electrodes Pvt Ltd
- SGL Carbon SE
- Showa Denko K.K.
- Tokai Carbon Co. Ltd
- Weaver Industries Inc
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