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The global graphite electrodes market is driven in part by the increased production of EAFs for steelmaking. EAFs can be a more environmentally friendly alternative to blast-furnaces for steel production. The increasing use of electric vehicles also drives demand for graphite electrodes used in lithium-ion battery.
Despite these drivers the industry is still facing challenges because of price volatility and geopolitical conflicts. The COVID-19 pandemic in 2020 disrupted industrial production globally, including steel and graphite electrodes. The COVID-19 pandemic in 2020 disrupted global industrial production, including steel and graphite electrodes. Tariffs on steel and electrodes, both of which were imposed by the US-China trade conflict, further impacted the market.
These factors are causing the industry to consolidate and slow down its growth. It is expected that the industry will recover from recent lows, and grow moderately in the near future.
According to the report, the market for graphite electrodes in the Asia-Pacific region is expected to remain the largest over the forecast period. This is due to the fact that China and India are the two largest producers of steel in the world using the EAF method, as well as the leading producers on the global graphite electrodes market. The top five players in the region include GrafTech, Resonac Holdings, HEG Limited, Tokai Carbon, and Graphite India.
While the use of EAFs for steel production is increasing market growth, the competition between suppliers is an issue. This could lead into price wars or margin pressures. The development of alternatives for graphite electrodes and technological advancements in the steelmaking industry can also pose a threat to market growth.
Despite this, the report notes that there are several opportunities for growth in the global graphite electrodes market. The Asia-Pacific region, in particular, is expected to grow faster than the global average during the forecast period. This is mainly a result of the low EAF penetration rates in the region, compared to developed markets.
Investors have also diversified in the market. Two former star stock pickers – Krishna Kumar Bangur, chairman at Graphite India, and Ravi Jhunjhunwala, founder at HEG Limited – now off the lists after their stocks fell along with the rest. of the market. While both companies are electrode producers, they do not have the same focus. Instead, they place more emphasis on long-term contracts as well as technology investments than on short-term profit. Both companies also focus on improving their corporate responsibility and corporate governance. This is in line with the growing emphasis on sustainability in the global economy. They are also reducing their carbon footprint. In the end, this has led to an improvement in the quality of products.
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