Global Graphite Electrodes Market to Reach $14.5 Billion by 2026

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Graphite Electrodes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 10; Released: February 2022
Executive Pool: 446
Companies: 31 - Players covered include Ameri-Source Specialty Products; Beijing Great Wall Co., Ltd.; EPM Group; Fanda Carbon New Material Co. Ltd.; GrafTech International Ltd.; Graphite India Limited; HEG Limited; Jilin Carbon Co., Ltd.; Kaifeng Carbon Co. Ltd.; Nantong Yangzi Carbon Co. Ltd.; Nippon Carbon Co., Ltd.; SANGRAF International Inc.; Schutz Carbon Electrodes Pvt. Ltd.; SEC Carbon Ltd.; Showa Denko K.K.; Tokai Carbon Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Type (Ultra-High Power, High Power, Regular Power); Application (Steel, Silicon Metal, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Turkey; Rest of Europe; Asia-Pacific; India; South Korea; Rest of Asia-Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Rest of World.

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ABSTRACT-

Global Graphite Electrodes Market to Reach $14.5 Billion by 2026
Graphite electrodes are used in various industries such as construction, steel making and battery owing to their appealing properties like superior thermal and electrical conductivity, high chemical stability, enhanced mechanical strength and low impurity. Amid the COVID-19 crisis, the global market for Graphite Electrodes estimated at US$11.7 Billion in the year 2022, is projected to reach a revised size of US$14.5 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Ultra-High Power, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$10.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the High Power segment is readjusted to a revised 4.6% CAGR for the next 7-year period.

Of special note is the growing application of Graphite in lithium-ion batteries. Carbon graphite is a major component in making Li-Ion battery. Li-ion battery technology has a number of important and distinct advantages over competing technologies such as high energy density; lower rate of self-discharge as compared to Ni-Cad and NiMH; and maintenance free unlike Ni-Cad cells which need to be periodically discharged to ensure elimination of memory effect. These batteries are lightweight when compared to other battery types; have higher temperature tolerance; fast and safe charging; longer life and durability; higher cycle life over 4000 to 5000 cycles; and overthrow issues such as "Peukert's losses" and "voltage sag" typically seen in lead acid batteries. High energy density is an important benefit for mobile electronic applications such as smartphones, tablets and PDAs, since it means ability to operate the device operate longer between charges. All of these benefits help ensure the technology's use ranging from powering small electronics to large equipment, and vehicles such as electric cars. In the field of EVs, li-ion batteries are poised to dominate as it represents the best performing technology available to date. with the highest coulombic efficiency (CE) ratings in rechargeable batteries at more than 99%; lowest rate of self-discharge; highest multiple number of recharge cycles; lightweight when compared to other battery technologies; and longer life & longevity, this technology is versatile enough to meet current engineering needs of EV designers.

The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to Reach $2.5 Billion by 2026
The Graphite Electrodes market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2026 trailing a CAGR of 6.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

The market is expected to gain from increasing production of steel and iron across emerging countries along with easy access to steel scrap in China. The market is expected to also gain from increasing dependence of steel manufacturers on electric arc furnaces that use graphite electrodes during the melting process. On the other hand, rising needle coke prices are leading to supply bottlenecks, while factors including market consolidation and limited expansion of the ultra-high power (UHP) graphite electrode market in China are likely to restrain the market growth. Ultra-high power (UHP) graphite electrodes represent the most popular product type in the global graphite electrodes market that is estimated to post a healthy growth in the coming years. These products are anticipated to witness high demand owing to their superior properties such as high durability and thermal resistance along with excellent electrical and thermal conductivity. In addition to finding use in DC and AC electric furnaces, UHP graphite electrodes are widely employed in the steel scrap melting process to expedite production.

China holds the leading share of the production and consumption of graphite electrodes in the region and globally. While focus on high specifications and rising environmental concerns are pushing capacity additions in the Chinese EAF steelmaking industry, rising consumption of graphite electrodes in lithium batteries is driving the demand for needle coke in the country. In addition, anticipated increasing domestic use is expected to fuel graphite electrode demand in China. The graphite electrodes market in China is expected to gain from increasing dependence of the steel industry on EAF technology along with use of made-in-China electrodes. Recent policy mandates across various provinces including Beijing are coercing steel manufacturers to shut down an estimated capacity of around 1.25 million tons. The domestic demand is likely to be further propelled by increasing automobile production and rising residential construction activity, creating the need for steel, iron and non-ferrous alloys. In addition, China is investing to double the production capacity of ultra-high power (UHP) graphite electrodes in the coming years.

Regular Power Segment to Reach $1.6 Billion by 2026
In the global Regular Power segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$768.4 Million will reach a projected size of US$982.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$479 Million by the year 2026, while Latin America will expand at a 3.9% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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