DUBLIN, Sept. 8, 2023 /PRNewswire/ — The “Graphite Electrode Market: Trends, Opportunities and Competitive Analysis 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The graphite electrode market is poised for growth, expecting to reach $10.5 billion by 2028. It will grow at a CAGR of 6.5% from 2023 to 2028. Major opportunities lie in steel, silicon metal, and aluminum sectors.
Key Market Drivers:
- A surge in demand for anti-corrosion products within the oil and gas sector.
- A consistent increase in the need for steel across various industries including construction, automotive, and aerospace.
Noteworthy Insights:
- Ultra-High Power (UHP) graphite electrodes are projected to witness rapid growth due to their exceptional strength and thermal resistance attributes.
- Steel will retain its prominence as the primary application sector, driven by its escalating consumption across diverse industries.
- The Asia Pacific region, backed by manufacturing giants China and India, will continue to be the market leader. Presence of key market players further consolidates the region’s dominance.
Report Breakdown:
By Product Type:
- Ultra-High Power (UHP)
- High Power
- Regular Power
By Application:
- Steel
- Silicon Metal
- Aluminum
By Geographic Region:
- North America
- Europe
- Asia Pacific
- Rest of the World
Competitive Outlook:
Key market participants include Showa Denko, GRAFTech, Graphite India Limited (GIL), HEG, and Tokai Carbon. Their competitive edge revolves around product quality. Their growth and sustenance strategies encompass:
- Expansion of manufacturing capacities.
- Robust R&D investments.
- Infrastructure development.
- Streamlined integration across the value chain.
For more information about this report visit https://www.researchandmarkets.com/r/5m17bg
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