Global graphite electrode market offers a very competitive and diverse market. Top players are leveraging technological innovations, process efficiency, and sustainability initiatives to strengthen their position in the industry. They are also focusing on expanding their product portfolio, enabling them to meet varying customer demands.
A rapid urbanization process and industrialization is driving the global demand for steel. Graphite Electrode is a crucial raw material for the production of high-quality, durable steel. In addition, increased infrastructure spending will fuel the construction and automobile industries, which will further boost steel demand. This will increase the global demand for Graphite Electrode.
Graphite Electrode can be made of a natural material with high electrical conductivity. It is essential in the production process of steel because it is used to produce carbon-enriched melt and slag. The slag is then used to make reinforced concrete, which has a range of applications in the construction sector.
Due to an increase in the demand for electrodes made of graphite, many major companies invest in R&D in order to improve and enhance their products. SGL Carbon for example has introduced a line of graphite electrodes that contain up to 25 percent recycled material. This product is targeted at the nonferrous metals industry. This new product is aimed at reducing costs and environmental impact. The company also developed kilns that are energy efficient, reducing energy consumption by 12% and improving the efficiency graphite production.
Graphite electrodes are classified by their properties and intended use. Ultra-high Power (UHP), with 41% market share, will lead the market in 2023. UHP can be found in electric furnaces for recycling steel. Its high durability, its current carrying capacity and its excellent quality are the main reasons. UHP graphite electrodes are in high demand due to EAFs becoming more popular in the steel industry.
North America dominates the Graphite Electrode Market. The region is an experienced EAF steelmaker with more than 70% of its production made by this method. The region has adopted sustainable steelmaking methods, which are aligned with the increased use of hydraulic and UHP electrodes. This is driving the need for advanced electrodes, notably in the form or digitalization and sensing.
Showa Denko & GrafTech International are other market leaders in the Graphite Elektrode Market. The report profiles each company based on its business strategy, financial review, product range, and recent development. Showa Denko - now Resonac - has a strong position in the semiconductor grade graphite segment. Its manufacturing is backed up by a stable supply of needle coke, and advanced facilities. It also invests in R&D to focus on sustainable manufacturing processes and innovative material innovations.
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