Analysis of Graphite Electrode Rod market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Graphite is a crystalline form of carbon element with atoms positioned in a hexagonal structure. Graphite is an optimum conductor unlike conventional conductors used in the market. Graphite could be molded into various shapes according to its application. For instance, amorphous graphite could be molded in the form of powder for its utilization in manufacturing lubricants and its utilization in structural materials. Furthermore, graphite is also extensively being used in manufacturing graphite electrode rods.
Graphite electrode rod is an exclusive material which is utilized in multiple specialized applications ranging from steel to quartz industry. Therefore, exclusivity of the product shall stabilize the demand for the graphite electrode market over the medium run forecast period. Stabilization of the demand and lower downward fluctuations to bolster the supply and is set to provide an extra edge for the manufacturers to cash in from the opportunity.
In the perspective of the price of the graphite electrode rods, product price is set to weigh heavy as only few manufacturers produce the product across the globe. Apart from the limited production, cost of production also plays a major role where manufacturer charges margins for the exclusivity of the product. In terms of the price stability, the difference between the floor and ceiling price is lower than the substitutes which denotes the non-volatile price points.
Petroleum industry plays a pivotal role in driving the demand for the graphite electrode rod market. Extensive integration of the graphite electrode rod in the petroleum industry to bolster the demand for the graphite electrode rod over the long-run forecast period. Apart from its application in the petroleum industry, graphite electrode rods are integrated in the electric arc furnace for the production of the steel.
Increasing demand from various petroleum products and electric arc furnaces is propelling the graphite electrode rod market. From last few decades, there is a significant increase the number of automotive industries, low cost of graphite electrode rod, extensive benefits of graphite and consistent development in technology have increased the growth of graphite electrode rod market. The Graphite electrode rod market is anticipated to intrusion ahead with a higher single-digit CAGR over the forecast period.
Regular Power (RP) Graphite Electrode is mainly used for regular power electric curve heaters to melt scrap yellow phosphorus, silicon and steel. This regular power graphite electrode is using petroleum coke and needle coke as raw materials. It is made through the production process of machining, calcination, roasting, and graphitization, kneading, pressing and compounding which is the electrode that discharges electric energy in the form of electric arch in electric arch heater to heat and melt the heater charge.
High Power (HP) Graphite Electrode is the foremost graphite electrode for electric arch heaters steelmaking. It is made of petroleum coke, coal pitch and needle coke created by a series of strict production processes. This graphite electrode has few different kind of features such as high-purity, high-density as well as strong stability, this graphite electrode contains anti-oxidation treatment for endurance. It has high machining accuracy, good surface finishing, low electrical resistance as well as high mechanical strength and high resistance to thermal shock and oxidation.
UHP Graphite Electrode is extensively used in steel processing in the electrical arc heater furnace. The main element of ultra-high power graphite electrode is needle coke which accounts for the majority of the cost of the graphite electrode production. The graphite electrode are done with a cylinder shape and machined with negotiated areas at each end.
This graphite electrode has few different kind of features such as good dimension stability with not easy to deform, high resistance to thermal shock and oxidation. The ultra-high power graphite electrode contains high mechanical strength with the low electrical resistance. It has good surface finishing along with the high level of machining accuracy.
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COVID-19 pandemic has forced countries to impose lockdowns and strict social distancing measures across the globe. Covid-19 sensitively impacted on the graphite electrode rod market. Because of Covid-19, many more end-use industries are closed during the lockdown period and hence, the declination of the graphite electrode rod is observed over the period of Q2 and Q3 of FY2020.
Almost all industries such as Automotive, Aerospace, Construction, Petroleum and others are faced a huge amount of loss. This in result has disrupted almost every market and graphite electrode rod market has also been affected largely. COVID-19 has caused economic hardship for consumers, businesses and governments across the world.
The demand and supply equilibrium of graphite electrode rod collapsed creating a cost burden on the graphite electrode rod manufacturers. Moreover, constant recovering market would help the graphite electrode rod market recover strongly by the end of H1 of FY2021.
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Based on regional breakdown, graphite electrode rod market is segmented into six different regions i.e., North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. North America has the upper hand in driving the demand for the global graphite electrode rod market. Moreover, this region holds phenomenal share in the graphite electrode rod market.
High spending of the research & development and incessant development in technology has driven the growth of the graphite electrode rod market. North America accounts maximum shares of global graphite electrode rod market.
Europe is the second dominant region in global graphite electrode rod market followed by North America. The increasing demand for electric vehicles, government support for R & D and high spending on new technology are the driving factors for European graphite electrode rod market.
Asia-Pacific is anticipated to be the fastest-growing region in the graphite electrode rod market. China especially in Asia Pacific is the main driver of the graphite electrode rod market in the region.
Middle East & Africa and Latin America could be countered as low prominent regions across the globe in driving the demand for the graphite electrode rod market.
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Being a moderately consolidated Graphite Electrode Rod market, players have a dominant presence across regions through efficient distribution networks.
The research report presents a comprehensive assessment of the Graphite Electrode Rod market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The graphite electrode rod market report provides analysis and information, according to market segments such as geographies, product type, material type and end-use
The Graphite Electrode Rod report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The Graphite Electrode Rod report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Graphite Electrode Rod report also maps the qualitative impact of various market factors on market segments and geographies.
The global Graphite Electrode Rod divided into five segments: By Type, By Purity, By Applications, End-users and By Regions.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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The graphite electrode rod market worth is likely to grow at 7.3% over the forecast years.
Proliferation of petroleum industries is driving the graphite electrode rod market growth.
North Amrica region is expected to be most lucrative market for graphite electrode rod industry players.
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