Global Graphite Electrodes Market Is Forecast to Achieve a Revenue Earning of USD 5.68 Billion by the End of 2024
The global graphite electrodes market is Associate in Nursing oligopolistic market, with no new entrants functioning within the trade since recent past, facing a declining growth trend thanks to the possession of core technology. it's exclusively a technology sensitive and capital intensive market majorly addicted to its application in producing steel through smelting by exploitation an electrical arc chamber (EAF). Steel makers square measure shifting towards electrical conduction chamber over the blast furnaces, because of the benefits offered by EAF, determinant refueling the expansion of worldwide graphite electrodes market.
Global Graphite Electrode Market is an oligopolistic market, with no new entrants functioning in the industry since recent past. The graphite electrode market is facing a declining growth trend due to the possession of core technology by only a handful of players. It is solely a technology sensitive and capital intensive market. The demand of graphite electrodes is majorly dependent on its application in manufacturing steel through smelting by using an electric arc furnace (EAF). Steel manufacturers are shifting towards electric arc furnace over the blast furnaces, owing to the advantages offered by EAF such as low cost of establishment, higher production flexibility, and low CO2 emissions.
Global Graphite Electrode Market is an oligopolistic market, with no new entrants functioning in the industry since recent past. The graphite electrode market is facing a declining growth trend due to the possession of core technology by only a handful of players. It is solely a technology sensitive and capital intensive market. The demand of graphite electrodes is majorly dependent on its application in manufacturing steel through smelting by using an electric arc furnace (EAF). Steel manufacturers are shifting towards electric arc furnace over the blast furnaces, owing to the advantages offered by EAF such as low cost of establishment, higher production flexibility, and low CO2 emissions.
Market Determinants
The global graphite electrodes market has witnessed notable growth in the recent years. The increase in steel- oriented activities such as construction and infrastructure is the key market determinant fueling the growth of global graphite electrode market. According to the data revealed by World Steel Association, 1630 million tonnes of crude steel was produced globally, in 2016. Moreover, the shifting trend of steel manufacturers towards manufacturing steel via electric arc furnace over the blast furnace is also a prime determinant driving the market growth. On the other hand, the rising price trend of raw materials required to manufacture graphite electrode and advent of carbon electrode as a substitute acts as the major hurdles in the growth of the market. However, increasing awareness among the people regarding branded products is expected to create huge opportunities for the growth of market in the coming years.
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Segment Analysis
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Segment Analysis
The global graphite electrodes market is segmented on the basis of type, application, and geography. By type, the market is segmented into regular power graphite electrode, high power graphite electrode, and ultra-high power graphite electrode. On the basis of application, the market is segmented into metallurgy, chemistry, and national defence. Geography wise, the market is segmented into North America, Europe, China, Japan, South East Asia, India, South America, and Middle East. China was the largest producer of graphite electrodes, in 2016, by holding nearly 40% of the global production volume. It is expected to maintain its dominance and grow with the highest CAGR of 4.3% during the forecast period of 2017-2024. Moreover, the developing economies like India and Japan are also the major contributors in the market growth due to their high steel production.
Some prominent market players are SGL Group, GrafTech, Fangda Carbon, Showa Denko K.K, Jilin Carbon, Tokai Carbon, Nippon Carbon, Graphite India Limited (GIL), HEG Limited, Yangzi Carbon, and Kaifeng Co., Ltd. The market giants are adopting mergers & acquisitions and capacity upgrades as their growth strategies, in order to magnify their presence in the global market. In 2016, a Japan based market giant, Showa Denko acquired Germany based SGL Group at an estimated value of 350 million euros. The acquisition was strategized with an aim to expand business reach in the US, Japan, and Europe, along with the reduction in fixed costs and integration of supply chain.
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Some prominent market players are SGL Group, GrafTech, Fangda Carbon, Showa Denko K.K, Jilin Carbon, Tokai Carbon, Nippon Carbon, Graphite India Limited (GIL), HEG Limited, Yangzi Carbon, and Kaifeng Co., Ltd. The market giants are adopting mergers & acquisitions and capacity upgrades as their growth strategies, in order to magnify their presence in the global market. In 2016, a Japan based market giant, Showa Denko acquired Germany based SGL Group at an estimated value of 350 million euros. The acquisition was strategized with an aim to expand business reach in the US, Japan, and Europe, along with the reduction in fixed costs and integration of supply chain.
To browse the full report with Table of Contents, click the link below :
https://www.bharatbook.com/consumer-electronics-market-research-reports-957061/graphite-electrodes-regular-power.html
About Bharat Book Bureau :
Bharat Book Bureau is the leading market research information provider for market research reports, company profiles, industry study, country reports, business reports, newsletters and online databases Bharat Book Bureau provides over a million reports from more than 400 publishers around the globe. We cover sectors starting from Aeronautics to Zoology.
Contact us at :
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Email: poonam@bharatbook.com
Website: www.bharatbook.com
Follow us on : Twitter, Facebook, Linkedin, Google Plus
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