Dublin, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The "Graphite Electrode Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (High Power, Ultra High Power, Regular Power); Application (Electric Arc Furnace, Ladle Furnace, Others), and Geography" report has been added to ResearchAndMarkets.com's offering.
The market was valued at US$ 6,564.2 million in 2019 and is projected to reach US$ 11,356.4 million by 2027; it is expected to grow at a CAGR of 9.9% from 2020 to 2027.
Graphite electrode is an essential component of steel production via the Electric Arc Furnace (EAF) method. After a severe five-year down cycle, graphite electrode demand started billowing in 2019, along with EAF steel production. With the world more environmentally conscious and developed countries more protectionist, the publisher anticipates stable growth in EAF steel production and graphite electrode demand from 2020-2027. The market should remain tight on limited graphite electrode capacity addition.
Currently, the global market is dominated by the Asia Pacific region accounting for ~58% of the global market collectively. The high demand for graphite electrodes from these countries is attributed to the steep rise in crude steel production. As per the World Steel Association, in 2018, China and Japan produced 928.3 and 104.3 million tonnes of crude steel respectively.
In APAC, electric arc furnaces have a significant demand due to rising steel scrap and increase in electrical energy supply in China. The growing market strategies by various companies in APAC is encouraging the growth in the graphite electrode market in the region. For instance, Tokai Carbon Co., Ltd., a Japanese company, has acquired the graphite electrodes business of SGL GE Holding GmbH (SGL GE), at the cost of US$ 150 million.
Several steel suppliers in the North American region are highly focused on investing in steel production projects. In March 2019, steel suppliers in the US - including Steel Dynamics Inc., US Steel Corp., and ArcelorMittal - invested US$ 9.7 billion in total to boost their capacity to cater to the countrywide demand.
Steel Dynamics Inc. invested US$ 1.8 billion to build a mill, ArcelorMittal invested US$ 3.1 billion on the US factories, and the US Steel Corp. invested ~US$ 2.5 billion in its respective activities. The increasing demand for graphite electrode in the steel industry in North America is mainly attributed to their higher thermal resistance, higher durability, and greater quality.
Impact of COVID-19 on Graphite electrode market
According to the latest situation report from the World Health Organization (WHO), the US, India, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe.
The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in the year 2020 and likely in 2021 also. The outbreak has created significant disruptions in the steel industry. The sharp decline in the international trade is negatively affecting the growth of the graphite electrode.
The production shutdowns, restrictions on supply chain, procurement management, labor scarcity, and border lockdowns to combat and contain the outbreak have adversely affected the construction sector. The production slowdown in the construction industry is directly affecting the adoption of various steel products.
Key Topics Covered:
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Graphite Electrode Market Landscape
4.2 PEST Analysis
5. Graphite Electrode Market-Key Dynamics
5.1 Market Drivers
5.1.1 Transition in Chinese steel industry
5.1.2 Concerns Regarding Traditional Induction Furnace Green House Gas (GHG) Emissions
5.2 Market Restrains
5.2.1 Limited Supply of Needle coke
5.3 Market Opportunity
5.3.1 Growing Acceptance in Developing Countries
5.4 Future Trends
5.4.1 Usage of Chemical Energy
5.5 Impact Analysis of Drivers and Restraints
6. Graphite Electrode Market - Global Market Analysis
6.1 Graphite electrode Market Global Overview
6.2 Global Graphite Electrode Market Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Graphite Electrode Market Analysis - By Product Type
7.2 Graphite Electrode Market Breakdown, by Product Type, 2019 & 2027
7.3 High Power
7.3.2 High Power Market Revenue and Forecast to 2027 (US$ Million)
7.4 Ultra-High Power
7.5 Regular Power
8. Graphite Electrode Market Analysis - By Application
8.2 Graphite Electrode Market Breakdown, by Application, 2019 & 2027
8.3 Electric Arc Furnace
8.3.2 Electric Arc Furnace Market Revenue and Forecast to 2027 (US$ Million)
8.4 Ladle Furnace
9. Graphite Electrode Market - Geographic Analysis
10. Graphite Electrode Market- COVID-19 Impact Analysis
11. Industry Landscape
11.1 Market Initiative
12. Company Profiles
12.1 Key Facts
12.2 Business Description
12.3 Products and Services
12.4 Financial Overview
12.5 SWOT Analysis
12.6 Key Developments
Graftech International Ltd
Graphite India Limited
Kaifeng Carbon Co., Ltd
Nantong Yangzi Carbon Co., Ltd
Nippon Carbon Co Ltd.
SHOWA DENKO K.K.
Tokai Carbon Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/z9pysg
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900