Graphite Electrodes Market to reach $14264.30 million by 2024 – Global Insights on Share, Price Trend, Key Stakeholders, Value Chain Analysis, Drivers, Restraints and Business Opportunities: Proficient Market
The “Global Graphite Electrodes Market by Product Type (Ultra High Power and High Power & Regular Power) and by End-Users/Application (Steel and Nonferrous Metals, Fused Materials, Inverted and Chemical Processing) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2019 – 2027″ report has been added to ProficientMarket.com’s offering.
According to the report, global graphite electrodes Market in 2017 stood at USD 9635.81 million and is expected to reach USD 14264.30 million by 2024 growing at a CAGR of 5.45% from 2018 to 2024.
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Graphite electrodes are electric conductors that carry electric current across non-metallic solids, gases, liquids, vacuums and plasmas that are part of a circuit. Graphite possesses a high thermal conductivity and is resistant to heat & impact, has low electrical resistance which makes it conduct large electrical currents essential for melting iron. The main uses of graphite electrodes are mainly in ladle furnace & arc furnace for steel production and is also used in some non-steel elements.
Graphite electrodes Market Key Players: The research study includes profiles of leading companies operating in the global graphite electrodes market. Key players profiled in the report include:
Fangda Carbon New Material Technology Co. Ltd
Jilin Carbon Co. Ltd
Kaifeng Carbon Co. Ltd
Nantong Yangzi Carbon Co. Ltd
Nippon Carbon Co. Ltd
SANGRAF International Inc.
SEC CARBON LIMITED
SHOWA DENKO KK
Tokai Carbon Co. Ltd.
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Drivers for the Global Graphite electrodes Market: Rising demand of graphite electrode for iron and steel melting, increasing availability of steel scrap, high usage of electric arc furnaces and domestic demand for non-ferrous alloys globally is owing to increase the disposable income and growth of the industry. Steel and iron industries are the major drivers of the market.
Opportunities for the Global Graphite electrodes Market: Moreover, shift from conventional methods of steel production to the EAF method by manufacturers, increase in the production of motor vehicles, expansion of residential construction industries and increasing production of steel and its elements due to the increase industrial and domestic need globally. Hence these factors are going to provide opportunities in the future for the graphite electrode industry.
Restrains for the Global Graphite electrodes Market: However, shutting of some induction arc furnaces & mini blast furnaces to decrease the supply of electrodes, limited growth of UHP graphite electrodes, various government regulations on high polluting industries conceived to manage environmental concerns and high costs of the electrodes. Hence these factors may hamper the growth of the market.
Region Wise, Global Graphite electrodes Market Analysis: Asia-Pacific held major share in the market due to investment in new technology, general economic conditions, consumption & production capacity of graphite electrodes and increasing number of industries de the increase in economy. Besides North America and Europe held a large share in the market.
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Global Graphite electrodes Market: Product analysis
High Power & Regular Power
On the basis of type, steel and nonferrous Metals accounted for largest share of total revenue generated. Because, of the contentious production and formation of EAF steel globally and also increase in the number of steel production industries.
Global Graphite electrodes Market: Application analysis
Steel and Nonferrous Metals
The demand of global graphite electrodes Market is highest from ultra-High Power, due to its high thermal resistance, high demand, durability and consists many beneficial applications in the steel industry for various purposes.
Global Graphite Electrodes Market Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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