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The Graphite Electrode Market was at US$ 7 Billion in 2021 and is growing to approx US$ 12.5 Billion by 2030, with a CAGR growth of 11% between 2022 and 2030. Graphite Electrode For Ladle Furnace
SANDY, UTAH, UNITED STATES, November 7, 2022 /EINPresswire.com/ -- According to the study, The Global Graphite Electrode Market was estimated at USD 7 Billion in 2021 and is anticipated to reach around USD 12.5 Billion by 2030, growing at a CAGR of roughly 11% between 2022 and 2030.
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Graphite electrodes are a crucial component in producing electric arc steel and the ladle refinement of steel. They also have a significant impact on the automobile sector. One of the main factors propelling the expansion of the global market is the rising use of graphite in lithium-ion batteries.
The market for graphite electrodes has grown significantly over the past few years. The market is expanding due to the rising demand for high-quality steel.
Graphite Electrode Market: Growth Drivers
The rapid expansion of steel production in developing nations and the accessibility of steel scrap in China is anticipated to propel market expansion shortly. On the other hand, the study market’s growth will probably be hampered by the skyrocketing price of needle coke. The industry is anticipated to benefit from China’s expanding electric arc furnace (EAF) steel production in the upcoming years.
Report URL: https://www.custommarketinsights.com/report/graphite-electrode-market/
A) As per the analysis shared by our research analyst, the Graphite Electrode market is estimated to grow annually at a CAGR of around 11% over the forecast period (2022-2030). B) In terms of revenue, the Graphite Electrode market was valued at around USD 7 Billion in 2021 and is projected to reach USD 12.5 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate. C) The Graphite Electrode market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market. D) The study includes data on the significant market drivers, challenges, and opportunities and their effects. E) The study elaborates on the SWOT analysis and Porter’s Five Forces model. F) The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.
Press Release For Graphite Electrode Market : https://www.custommarketinsights.com/press-releases/graphite-electrode-market-size/
China dominates the market in terms of global graphite electrode consumption and production capacity. In China, there are currently more than 40 official makers of graphite electrodes, with 30 new entrants that produce both electrodes and other refractory products being noted in the last two to three years. When China started to invest substantially in higher steel production rates via electric arc furnaces in 2017, producers hurried to install capacity for graphite electrodes. The decision-making bodies in China have aggressively urged using EAF steelmaking technology to lower carbon emissions and achieve sustainability in the nation’s steel industry. As a result, 2,60,82,220 automobiles were produced in 2021.
The amount of steel produced in China using electric furnaces is less than the average worldwide. However, the proportion, driven by policy reasons, is anticipated to rise, enhancing the need for ultra-high-power graphite electrodes.
Therefore, it is anticipated that the reasons above will propel the expansion of the graphite electrodes market in China.
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EPM Group Graphite India Limited GrafTech International Ltd HEG Ltd Kaifeng Carbon Co., Ltd, Zhongping Energy & Chemical Group (KFCC) Nippon Carbon Co Ltd. Tokai Carbon Co., Ltd. Nantong Yangzi Carbon Co., Ltd. Sangraf International SHOWA DENKO K.K.
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The Graphite Electrode Market is segmented as follows:
Ultra-High Power High Power Regular Power
Electric Arc Furnace Ladle Furnace Otherss
The USA Canada Mexico Europe The UK Germany France Italy Russia Rest of Europe
China India Japan South Korea Malaysia Philippines Rest of Asia-pacific
Brazil Rest of Latin America Middle East and Africa GCC North Africa South Africa Rest of Middle East & Africa
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