Research and Development of Advanced Carbon Materials
In order to increase performance, improve environmental impact, or extend the operational life of graphite, there is significant innovation on the global market. These technologies meet end-user demands for energy saving, cost reduction, and sustainability compliance. This is especially true in the steelmaking industry and special metallurgy that uses electric arc furnaces (EAF).
Demand growth is driven by the growing adoption of EAF for steelmaking as well as compliance with carbon targets. The demand for high-power electrodes is increasing, and they account for over half of the total market. Enhanced graphite electrodes are also gaining popularity for their ability to offer higher productivity and a better quality of melted metal, while reducing energy consumption by
However, raw material price volatility is likely to hamper the market's expansion. Price volatility of raw materials, such as petroleum coke or needle coke that are vital to production, can have a significant impact on the profitability of electrode manufacturers, since these materials account for up to half of their total costs. A price increase for these raw material will cause electrode production to rise significantly. This could negatively impact market revenue numbers.
A major obstacle for the industry is competition with alternative technologies, such as direct reduction iron. Also, electric arc furnaces are a recent development that uses less graphite. These alternative methods can create the same quality steel while using less graphite. However, this could affect profit margins in the industry.
GrafTech International Ltd. & Showa Denko Resonac, are both amongst the top graphite-electrode producers in the world. The companies maintain integrated manufacturing, including needle coke and electrode production facilities. The two companies have both invested in new facilities to keep up with the growing demand.
With molten salted electrolyte it is possible to achieve desulfurization at 950 degC and the removal of impurities. Overall energy for electrode production can therefore be significantly reduced. This method allows for the production of graphite using a lower temperature than conventional methods. It also results in a greater energy efficiency and current density.
Market growth is expected at 5.2% in the graphite electrodes market between 2023 and 2020. This research report provides an overview of the top graphite producers, their capacity development, production trends and behavior in end-use sectors. This report analyzes the impact of recent product launch and long-term contract supply on competitive dynamics.
The report identifies and analyses emerging growth opportunities in the global graphite electrodes market. By 2024, the report predicts the global demand for premium electrodes required to produce steel and nonferrous metals using EAF will reach 650,000,000 metric tonnes. It will also drive demand for high-grade electrodes. Especially UHP with diameters between 351 mm and 500 mm. Recycling of spent electrodes is a fast-growing segment, with over 100,000 tons recycled in 2023 for low-grade applications, offsetting raw material consumption and lowering carbon footprints.
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