/Graphite Electrode Market 2021| Global Leading Players, Trends, Segments, Regional Analysis and Industry Growth by Forecast to 2027
Graphite Electrode Market 2021| Global Leading Players, Trends, Segments, Regional Analysis and Industry Growth by Forecast to 2027
Report Focuses on Graphite Electrode Market in Asia Pacific, espicially in China, Japan, Taiwan, Korea, Southeast Asia, India, and Australia. As well as United Kingdom. The report categorizes the market based on Manufacturers Countries/Region, Types and Application
tipFebruary 2, 2021
58
In terms of revenue, the graphite electrode market was valued at US$ 6,564.2 million in 2019 and is expected to reach US$ 11,356.4 million by 2027 with a CAGR of 9.9% from 2020 to 2027
.
The global graphite electrode market is dominated by the Asia Pacific region accounting for ~58% of the global graphite electrode market collectively. The high demand for graphite electrodes from these countries is attributed to the steep rise in crude steel production. As per the World Steel Association, in 2018, China and Japan produced 928.3 and 104.3 million tonnes of crude steel respectively. In APAC, electric arc furnaces have a significant demand due to rising steel scrap and increase in electrical energy supply in China. The growing market strategies by various companies in APAC is encouraging the growth in the graphite electrode market in the region. For instance, Tokai Carbon Co., Ltd., a Japanese company, has acquired the graphite electrodes business of SGL GE Holding GmbH (SGL GE), at the cost of US$ 150 million.