The latest graphite electrode market 2019 covers the comprehensive analysis of the current market, emerging trends, application, growth factors, manufacturing cost, regional overview, competitive landscape & demand over the forecast period.

Dallas, TX -- (SBWire) -- 02/23/2019 --The global graphite electrodes market revenue is estimated to reach USD 6 billion by 2025 driven by the increasing need for ultra-high power electrodes from the steelmaking industry. Increasing infrastructure spending across the globe is proliferating the steel industry which in terms is encouraging graphite electrodes producers to increase their production.

With the ever snowballing demand of electrodes, the prices of electrodes are anticipated to remain uptight over the next five years regardless of a five times rise in prices. Furthermore, prices of petroleum needle coke that stood at an average of USD 1,500 per ton between 2010 and 2017 are now holding their position at USD 3,000 per ton. These prices are further projected to escalate over USD 3,500 per ton over the forecast period.

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The global graphite electrode market was oversupplied till last year as supply exceeded demand which resulted in low prices of the product. However, the shift from BOFs to EAFs, a trend being rampantly observed in China, has resulted in reversing the dynamics with demand now outdoing supply. This is expected to result in shortages, thus, escalating the price of the product. This trend is anticipated to continue over the next few years.

Needle coke which is the primary raw material used in the manufacturing of graphite electrodes is running low on the supply side, putting electrode producers in dilemma to expand their production capacity of UHP electrode which is currently running at roughly 85% to 90% of the total plant capacity.

Petroleum needle coke (Pet NC) and pitch needle coke (Pi NC) are the two types used in the production of electrodes, however, Pet NC is the primary raw material used in the production of UHP graphite electrodes and lithium batteries (LiBs). Decant oil is used as a raw material in the making of Pet NC, but with only four producers coupled with stagnant production of decant oil with low sulfur content, the global graphite electrodes market share is likely to reduce.

Increasing production of electric vehicles (EVs) owing to restriction on diesel engines is the projected to be the fast-growing alternative market for Pet NC. Growing application of Pet NC in LiBs is key factor restraining the growth of needle coke utilization in the production of graphite electrodes. Furthermore, demand for UHP electrodes is directly linked to EAF route of steelmaking, which means if the production of steel via EAF is lowered, then it is going to impact the demand for UHP GE.

Graphite electrode manufacturers are implementing M&A strategy to enlarge their presence in the global market. For instance, SGL GE was acquired by Showa Denko in October 2016 to strengthen its hold within the global market. As of 2017, Showa Denko established itself as the largest manufacturer of graphite electrodes across the globe.

Key segments of the global graphite electrodes market

Product Overview, 2015-2025 (USD Million)
- HP
- UHP
- RP

Application Overview, 2015-2025 (USD Million)
- EAF
- LF & Others

Regional Overview, 2015-2025 (USD Million)
- North America
o Mexico
- Europe
o France
- Asia Pacific
o China
o India
o Japan
- Central & South America
- Middle East & Africa

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