International Demand

MarketResearchReports.com: EAF Steel Production Growth to Drive Graphite Electrode Demand

Recovering global demand for graphite electrodes boosted future earnings for GrafTech International and Showa Denko

LEWES, DELAWARE, UNITED STATES, June 28, 2022 /EINPresswire.com/ — China recently abolished a 13% VAT rebate on certain steel exports to reduce steel production and exports. Lower exports from China will lead to increased steel production in Electric Arc Furnace (EAF) steel-producing countries. Growth in global EAF steel production is expected to drive demand for electrodes.

China is the largest revenue market with a market share of 30% in 2016 and 36% in 2020, an increase of 6%. In 2020, the North American market share was 27%, ranking second. With the improvement of the economic level, the downstream demand continues to grow, and the technological level of these regions continues to improve, which will further promote the development of the market.

According to recent findings, the global graphite electrode market had a total value of USD 4445 M in 2016 and increased to USD 6613 M in 2020. We study the development law of the market in recent years and establish a pattern of data to analyze and infer future market developments. Finally, we predicted that the value of Graphite Electrodes Markets could be USD 10550 M by 2026. CAGR of Graphite Electrodes is 4.80% from 2021 to 2026.

Graphite electrode is a kind of high temperature resistant graphite conductive material, mainly made of petroleum series raw materials or coal series needle coke and coal tar pitch. According to its quality indicators, it is divided into conventional graphite electrodes, high-power graphite electrodes and ultra-high-power graphite electrodes.

Graphite electrodes can conduct current and produce electricity. Due to the characteristics of high temperature resistance, high conductivity, oxidation resistance, high mechanical strength and low impurity content, graphite electrodes as an ideal industrial material are widely used in manufacturing steel in the electric furnace, the refining of steel outside the furnace and the smelting of industrial raw materials such as industrial silicon, yellow phosphorus, glass and silicon carbide.

Graphite electrode sales companies are mainly from North America and Europe; the industry concentration rate is moderate. The top three companies are GrafTech International, Showa Denko Carbon and SANGRAF International Inc. with 18%, 11% and 6% market share in 2020.

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