The Graphite Electrode Market is experiencing increased demand from industries other than steel, such as glass and chemical. This diversification helps the industry to move away from its historic dependence on the Steel Industry. This diversification is opening up new opportunities for growth and reducing the industry's vulnerability to volatility in steel prices. This diversification encourages producers and manufacturers to create electrode grades for specific applications.
Graphite electrodes are used in a multitude of industries including welding, heat treatment and other manufacturing processes. These electrodes can be found on electrical probes used for measuring surface temperature during welding processes, as well in welding nozzles and in spot welders. Graphite's industrial use is in the manufacturing of batteries and energy-storage solutions. Graphite electrodes are used in harsh environments despite their versatility. They require regular inspection and maintenance, and proper storage and handling are essential to their longevity and performance.
Graphite Electrode markets are threatened by a variety of factors, such as the steel industry's fluctuations, the increased competition, the technological advances, the volatility of raw materials, and environmental regulations. Mining graphite has adverse effects on the environment because it uses a lot of natural resources to produce. Air pollution can lead to pneumoconiosis - a potentially fatal lung disease - and soil contamination near mining sites. Explosives used to remove graphite from deep deposits can also lead to fatalities and injuries for workers.
The global graphite electrode market is segmented based on diameter, electrode grade and application. The EAF market segment is projected to have the largest share during the forecasted period. This segment's growth is due to an increasing use of EAFs for steelmaking. EAFs offer benefits like environmental sustainability and cost-efficiency.
The use of EAFs also reduces the carbon footprint that is associated with the traditional methods of steel production. This is driving the steel sector to adopt more sustainable practices, which in turn is boosting the demand for graphite electrodes.
A second trend is the increase in electric vehicles (EVs). This fuels the demand of lithium-ion cells, which are used as power for EVs. Graphite Electrode sales are also being driven up by the technological advancements made in the batteries industry. Aligned Graphite Technology is one such example.
The market is further characterized by the availability of natural and synthetic graphite. Synthetic graphite is preferred because it is less expensive and durable than natural. Natural graphite is more popular, but it's less harmful to the planet and produces far fewer emissions. Graphite can be extracted from a mixture made of coal tar and petroleum coke. Coke is created by a combination of high-pressure, steam and chemical reactions. Graphite can then be reformed in the form of electrodes.
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