Graphite Electrode Market for the Metal Industry to Reach US$ 15.3 Billion in 2024, Says Stratview Research

DETROIT, June 26, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Graphite Electrode Market for the Metal Industry by Product Type {Ultra-High Power (UHP), High Power (HP), and Regular Power (RP)}, by Application Type {Steel, Silicon Metal, and Aluminum}, and by Region {North America, Europe, Asia-Pacific, and Rest of the World}, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This strategic assessment report, from Stratview Research, on the graphite electrode market for the metal industry is one of its kind and estimates the current as well as future growth opportunities for the market participants until 2024. The report also addresses the current supply constraint (limited production capacity) of both graphite electrode as well as petroleum needle coke and its impact on the price as well as demand for graphite electrodes. Furthermore, the report also unveils the impact of increased graphite electrode price on to the production cost of EAF steel. The report provides detailed competitive analysis including the current efforts made by the leading players for increasing their production capacity in order to gain a higher share.

Graphite Electrode Market for the Metal Industry: Highlights from the Report

Graphite electrode (GE) is an essential component of steel production through the electric arc furnace (EAF) method. After five years of downcycle, the demand for graphite electrode started emerging in 2016 with the increased production of steel through the EAF method. The penetration of EAF-based steel production is expected to be stable in the foreseen future, because of high awareness of the developed economies towards environmentally friendly technologies. The role of China and India in the production of EAF steel is going to be consequential in the coming years as the current penetration of EAF steel production in both countries are lower than the developed countries but will rise at a greater pace in the coming years. This will imprint a significant upward trend in the demand for graphite electrodes in the coming five years.  

The market's supply chain is extremely dynamic with a tight supply of raw materials (petroleum needle coke) as well as graphite electrode coupled with the consistent increase in EAF steel production. The preference of lithium-ion battery in the increasing production of electric vehicles further takes the supply crunch to the next level. Petroleum needle coke is an essential raw material to produce lithium-ion battery. In addition, no substitute of graphite electrode in the production of EAF steel, makes the material a strategic resource rather than mere a commodity.

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As per Stratview Research, the market for graphite electrode in the global metal industry is projected to grow at a healthy rate over the next five years to reach US$ 15.3 billion in 2024. Steady increase in steel production through the EAF method, no substitute of graphite electrode in EAF steel production, and supply crunch owing to the limited production capacity of needle coke and graphite electrode are some of the factors propelling the demand for graphite electrodes in the metal industry.

Based on the product type, the market is segmented as ultra-high power (UHP), high power (HP), and regular power (RP). UHP is expected to remain the most dominant as well as the fastest-growing electrode type during the forecast period. Higher durability, higher thermal resistance, and superior quality are some of the properties that are propelling the demand for UHP graphite electrode, especially in the steel industry. All the major global players are primarily into the manufacturing of UHP graphite electrodes.

Based on the application type, steel manufacturing is currently dominating the graphite electrode market and is expected to maintain its dominance during the forecast period. There has been a continuous increase in the production of EAF steel worldwide, which is the prime driver of the demand for graphite electrodes. For instance; in China, the share of steel production through EAF increased from 6% in 2016 to 9% in 2017 (still below the global average of 46%, excluding China). The government of China has set a target of achieving 20% steel production through EAF by 2020.

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In terms of region, Asia-Pacific is expected to remain the largest market during the forecast period. China and India are the largest and second-largest steel producing countries through the EAF method, globally. Furthermore, among the leading players, five players (Showa Denko K.K. (Japan), Fangda Carbon New Material Co. Ltd. (China), Tokai Carbon Co. Ltd. (Japan), Graphite India Limited (India), and HEG Ltd. (India) are based in Asia-Pacific.

The report also maps supply chain including raw material suppliers, petroleum needle coke manufacturers, graphite electrode manufacturers, and end-users. Showa Denko K.K., GRAFTech International, Graphite India Limited (GIL), HEG Ltd., Tokai Carbon Co., Ltd., Energoprom, Fangda Carbon New Material Co. Ltd., Sangraf International, SEC Carbon, Limited, and Nippon Carbon are some of the major players in the market. Most of the major players have a capacity expansion plan in order to meet the growing demand for graphite electrodes in the coming five years. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the graphite electrode market for the metal industry and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:

Graphite Electrode Market for the Metal Industry, By Product Type

• Ultra-high Power (UHP) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• High Power (HP) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Regular Power (RP) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Graphite Electrode Market for the Metal Industry, By Application Type

• Steel Production (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Silicon Metal Production (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aluminum Production (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Graphite Electrode Market for the Metal Industry, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Russia, Germany, Turkey, Italy, France, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Central & South America, the Middle East, and Africa)

Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:

Click Here for Other Reports from Stratview Research in the Advanced Materials and Metal Industry

Related premium market reports in the advanced composites industry are:

Global Graphite Materials Market by Form (Electrode, Block, Powder, Carbon Fiber, Flake, Amorphous, and Vein and Others), by Application Type (Electrode, Refractory, Lubricants, Foundry, Battery, Frictional Products, Parts & Components, and Others), by End Use Industry (Metal, Aerospace & Defense, Automotive, Photovoltaic, Electricals & Electronics, Industrial, and Others), by Sales Channel (Direct Sales and Distributors), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Global Isostatic Graphite Market by Application Type (Electrode, High Temperature Applications, Electrical Discharge Machining, Polysilicon Production, Silicon Crystal, Frictional Products, Parts & Components, and Others), by End Use Industry (Metal, Automotive, Photovoltaic, Electricals & Electronics, Industrial, and Others), by Sales Channel (Direct Sales and Distributors), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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