January 6th,2021/Industry News Global/ -- This new report from Stratview Research analyses the Graphite Electrode Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Graphite Electrode Market Overview:

The global graphite electrode market is projected to grow at a healthy rate over the next five years to reach US$ 15.3 billion in 2024.
 
Key Players:
• 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
• Nippon Carbon
 
The Graphite Electrode Market is segmented by–
• By Product Type {Ultra-High Power (UHP), High Power (HP), and Regular Power (RP)}, By Application Type {Steel, Silicon Metal, and Aluminum}
• By Region {North America, Europe, Asia-Pacific, and Rest of the World}.
 
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Segments' Analysis

By Product Type

The market is segmented based on the product type 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.

By Application Type

Based on the application type, the market is segmented as steel, silicon metal, and aluminum. Steel is currently dominating the graphite electrode market and is expected to maintain its dominance during the forecast period as well. There has been a continuous increase in the production of EAF steel worldwide, which is the prime driver of the demand for graphite electrode. 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.

Regional Analysis

In terms of regions, 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.
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