Graphite Electrode Rod Market By Type (Regular Power Graphite Electrodes, High Power Graphite Electrodes, and Ultra High Power Graphite Electrodes), By Application (Electric ARC Furnace Steel and Others) - Market Trends, Analysis, and Forecast till 2029

Graphite electrode rod market accounted for USD 7 Billion in 2020 and is estimated to be USD 15.2 Billion by 2029 and is anticipated to register a CAGR of 9.0%.

Graphite electrodes are primarily used in an electric arc furnace. They are also used to refine steel in ladle furnaces and other smelting processes. Graphite electrodes are the heating element which is used in an electric arc furnace, a steelmaking process where scrap from old cars or appliances is melted to produce new steel. Electrodes are made of graphite as graphite can only withstand such intense heat. Also, graphite rods are machined from blocks of graphite for use in various industries and applications.

Impact of Covid-19 pandemic on market

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries has imposed strict lockdown to limit the spread of disease. Graphite electrode rod market have a negative impact due to steel price rises and have shut down in the construction work because of pandemic. This report will quantify the impact of pandemic on graphite electrode rod market.

Steel production through the electric arc furnace method has significantly increased in developed nations across Europe and the Americas owing to the high availability of scrap. Electric arc furnace method accounts for over 60% steel production in India, while in the Middle East, over 90% of steel is produced through an electric furnace. These factors have created sufficient demand for an electrode in these furnaces in the market. The steel industry is relying on the EAF technology and demands for made in china electrodes. In China, more than 353,900 MT of graphite electrodes has been consumed, which is expected to increase at a 3.10% rate of CAGR. Graphite electrodes have characteristics that include high electrical & heat conductivity, low content of impurity, good electrical properties, high mechanical strength and chemical stability.

Stringent regulations of government bodies

The strict environment regulations of carbon emissions, several coke production facilities across the China have shut down. With the introduction of the new environmental regulations in the China, most of the induction furnaces were replaced by the electric arc furnace, which consume graphite electrodes to melt steel scrape. The country has closed the capacity in the range of 100- 120million tons of induction Furness consisting of around 600 plants nationwide. The Chinese government identified some highly polluting industries and asked them to close down. The many graphite electrodes manufacturing capacity has been shut down in China due to the environment concern. However, rise in the price of raw material might be hampering the targeted market.

The graphite electrode rod market is segmented based on type, application and region

On the basis of type, the graphite electrode rod market is segmented into regular power graphite electrodes, high power graphite electrodes, and ultra-high power graphite electrodes. Based on application the targeted market segmented into electric arc furnace steel and others.

On region the graphite electrode rod market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific region held the dominant position in the graphite electrodes market and is projected to continue its dominant position during the forecast period. The dominance in the market is mainly attributed to the expansion of the commercial & residential construction industry with rising production of motor vehicles boosting the demand for iron & steel and non-ferrous alloys positively fueling the growth of the graphite electrode in the coming year.

Graphite Electrode Rod Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at , regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global graphite electrode rod market report based on type, application, and region.

Graphite Electrode Rod Market, By Type:

• Regular Power Graphite Electrodes
• High Power Graphite Electrodes
• Ultra-High Power Graphite Electrodes

Graphite Electrode Rod Market, By Application:

• Electric ARC Furnace Steel
• Others

Graphite Electrode Rod Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the graphite electrode rod market includes Fangda Carbon, GrafTech, Graphite India Limited (GIL), HEG Limited, Jilin Carbon, Kaifeng Carbon Co., Ltd, Nippon Carbon, Showa Denko K.K, Tokai Carbon, and Yangzi Carbon. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, In September 2017, Tokai Carbon Co., Ltd. acquired SGL GE’s U.S. business to set up a manufacturing base in North America, thereby increasing the company's presence in a prominent region of the EAF market.

• Fangda Carbon
• GrafTech
• Graphite India Limited (GIL)
• HEG Limited
• Jilin Carbon
• Kaifeng Carbon Co., Ltd
• Nippon Carbon
• Showa Denko K.K
• Tokai Carbon
• Yangzi Carbon