Graphite Electrode Market Share Analysis(2020)
By:Yvonne Oct 07, 2020
Graphite Electrode Market Share Analysis
• Graphite Electrode Market Share by Product Type
The market is segmented based on the product type as ultra-high power (UHP), high power (HP), and regular power (RP). UHP is expected to remain the most dominant as well as the fastest-growing electrode type during the forecast period. Higher durability, higher thermal resistance, and superior quality are some of the properties that are propelling the demand for UHP graphite electrode, especially in the steel industry. All the major global players are primarily into the manufacturing of UHP graphite electrodes.
• Graphite Electrode Market Share by Application Type
Based on the application type, the market is segmented as steel, silicon metal, and aluminum. Steel is currently dominating the graphite electrode market and is expected to maintain its dominance during the forecast period as well. There has been a continuous increase in the production of EAF steel worldwide, which is the prime driver of the demand for graphite electrode. For instance; in China, the share of steel production through EAF increased from 6% in 2016 to 9% in 2017 (still below the global average of 46% excluding China). The government of China has set a target of achieving 20% steel production through EAF by 2020.
• Regional Analysis
In terms of regions, Asia-Pacific is expected to remain the largest market during the forecast period. China and India are the largest and second-largest steel producing countries through the EAF method globally. Furthermore, among the leading players, five players (Showa Denko K.K. (Japan), Dan Carbon Group (China), Tokai Carbon Co. Ltd. (Japan), Graphite India Limited (India), and Fangda Carbon New Material Co. Ltd. (China).