Anew report published in the Transparency Market Research (TMR) state thatcompetitive landscape of the global graphiteelectrodes market exhibits highly fragmentedstructure, thanks to large and small scale of the participants depicting theirpresence across the regional and global. The key players are majorly focusedtoward mergers and acquisitions to attain maximum market share and maintain presenceacross the globe. The study also includes some of the prominent playersoperating in the global graphite electrodes such as Nantong Yangzi Carbon Co.,Ltd., Showa Denko K.K., Tokai Carbon Co., Ltd and Graphite India Limited.
As per TMR,the revenue generated by the global graphite electrodes market stood at US$ 10Bn in 2017. The market is register sluggish 3% CAGR throughout the forecastperiod from 2018 till 2026. The development of the market is highly depended onincreasing demand from the steel companies.
On thebasis of application, steel and non-fused material are the major segment of theglobal graphite electrodes market in 2017 and this segment is likely to remainthe leading segment in terms of adoption. Furthermore, ultra- high powersegment account for major share in the global graphite electrodes market.Geographically, Asia Pacific is likely to be the leading market for the globalmarket for graphic electrodes owing to stringent regulation by the Chinesegovernment. Among all the countries in Asia Pacific, China account for highestmarket share in Asia Pacific region due to manufacturing of EAF steelproduction in the country.
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Increasing Demand for Electric ArcFurnace for Steel Production Boost Demand
Highelectrical and heat conductivity, low impurity content, high vibrationalresistance are some of the key properties of the graphite electrode influencingthe growth of this market in coming years. The other quality of graphiteelectrode such as high thermal resistance capability and thermal shock resistancewhich further helps in reducing the entire mass of the steel. The lowerEPF production cost and flexibility are the key factor supporting the growth ofgraphite electrodes market in coming years. Furthermore, Chinese governmentregulation are being made to increase the production of steel. The use of steelby the end-user industries such as automotive, construction and defense andaerospace and infrastructure and oil and gas industries is another factorpropelling the growth of this market in near future. The rising usage ofelectric arc furnace for the manufacturing of steel is one of the key factorpropelling the growth of this market in coming years. The use of graphiteelectrodes for smelting process and steel refining is one of the important factorsupporting the growth of graphite electrodes market in coming years.
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Utilization of Steel Scrap Likelyto Upsurge Global Graphite Electrodes Market
Due topresence of large steel producing industries in developed economies, the steelindustries is likely to have availability of high steel scrap. This is anotherfactor propelling the growth of this market in near future. About more than 80%of the steel which are produced in electric arc furnace are made from steelscraps. The alternating production capacity of the steel craps could drive thedemand of this market in near future.
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