The global graphite electrode market size was valued at USD 14.30 billion in and is projected to reach from USD 14.89 billion in to USD 20.54 billion by , growing at a CAGR of 4.1% during the forecast period (-).
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The global graphite electrode market is being driven by the growing usage of batteries in various applications, which are known to improve battery performance when combined with graphite electrodes. A shift toward electric arc furnaces from conventional blast furnaces, owing to their advantages, is expected to boost market growth.
Large, cylindrical graphite electrodes are typically manufactured with coal tar pitch, premium petroleum needle coke, and some additives. They transform electrical energy from the power source into heat for melting scrap metal. As a result of graphite's high thermal conductivity and low electrical resistance, these electrodes can produce heat as hot as 1,600 degrees Celsius. Graphite Electrode is primarily utilized in Electric Arc Furnaces (EAF) and Blast Oxygen Furnaces (BOF) to produce steel and melt ferrous alloys. These electrodes produce high-quality goods with high electrical conductivity, withstand high heat dissipation, and exhibit exceptional mechanical strength.
The graphite electrode market is driven by the demand for graphite in numerous applications, lithium-ion batteries being one of the most significant. Lithium-ion batteries are extensively utilized in electric vehicles (EVs), portable electronics, and renewable energy storage systems. Therefore, advancements or enhancements in lithium-ion battery technology have the potential to significantly impact the graphite electrode industry.
In this context, substituting 15% of graphite with Ionisil in a water-based CMC/SBR binder system yields electrodes with a stable capacity of 740 mAh/g greater than three times that of a pure graphite anode. This increased capacity significantly improves the performance of lithium-ion batteries, allowing for longer battery life and greater energy storage capabilities. Thus, the trend mentioned above drives the expansion of the global graphite electrode market.
EAFs have become a popular alternative to conventional blast furnaces due to their energy efficiency, adaptability, and reduced environmental impact. EAFs are ideal for the production of specialty steels and the recycling of scrap metal. Consequently, the global adoption of EAFs has increased significantly. This increase in EAF steel production has directly increased the demand for graphite electrodes, essential to the EAF steelmaking process. For instance, India has been concentrating on increasing its steel production capacity and has set an ambitious goal of 300 million tons by . India is actively adopting EAF technology to achieve this objective, significantly increasing demand for graphite electrodes.
Needle coke is a specialty-grade petroleum coke with good quality for making electrodes. Needle coke is a primary material for graphite electrodes in an electric furnace. Coal-based needle coke is produced from coal tar, and compared to petroleum-based needle coke, they have excellent physical properties such as a low coefficient of thermal expansion and low electric resistance, along with less spalling and less breakage.
China is a major graphite electrode-producing and exporting country, and its price trends affect global graphite electrode prices. Prices for high-power and ultra-high-power electrodes were high in because of the higher prices of needle coke. Uncertainty in crude oil prices has led to price volatility of needle coke as it is a derivative of crude oil. Such high price trends of needle coke are acting as a restraint to the graphite electrode market.
Approximately 40% of the world's steel production is derived from recycled steel scrap. The employment of steel scrap results in a reduction of carbon dioxide (CO2) emissions by 58%. Scrap consumption in China is increasing rapidly, owing to the shutdown of sub-standard steel capacities after realizing the hazardous effects of carbon dioxide emissions caused by induction furnaces. This movement has helped China shift toward the surging use of electric arc furnaces (EAF) for steel production. According to official figures, the country imported 552,892 tons of steel scrap in , an increase of 1,938% from .
China is expected to increase its steel scrap usage by 23% to 320 million tons by to meet its climate commitments. With China rapidly trying to increase its steel production through EAFs, which require graphite electrodes, the market for graphite electrodes is expected to rise in the country in the coming years. Using EAF would promote steel scrap over virgin ore. The increase in EAF production is projected to increase steel scrap usage in the country and is likely to generate tremendous opportunities for the growth of the graphite electrode market.
If you have a specific query, feel free to ask our experts.Asia-Pacific is the most significant global graphite electrode market shareholder and is expected to grow substantially during the forecast period. The development in the Asia-Pacific region can be attributed to the expanding steel industries in China and India. Graphite electrodes are a crucial component of the steel manufacturing process. They are the primary heat source in electric arc furnaces to smelt waste metal and create new steel. Rapid infrastructure growth in these nations increases the steel demand, ultimately fueling market growth over the forecast period. For instance, according to secondary research, China allocated RMB 3.65 trillion (USD 573 billion) in SPBs to local administrations in , of which 97% had been issued by December 15, . In addition, the Asia-Pacific region is anticipated to experience tremendous development over the forecast period due to the increasing investments of regional industry players. For instance, in October , JSW Steel invested INR 150 billion to construct a steel plant in Jammu and Kashmir and fuel manufacturing in the region. Thus, the factors above support market expansion over the forecast period.
North America is predicted to expand significantly over the forecast period. North America, particularly the United States, has a well-developed manufacturing infrastructure, which supports the development of the graphite electrode market. The region has sophisticated manufacturing facilities, knowledge, and technologies for producing graphite electrodes. These established capabilities enable North American manufacturers to efficiently produce high-quality graphite electrodes for industries like steel, aluminum, and electric vehicles. In addition, the regional expansion is a result of rising steel production. In , the American iron and steel industry contributed over USD 520 billion in revenue and nearly two million jobs to the U.S. economy, according to an estimate. These employees earned nearly USD 130 billion in compensation and benefits. The total federal, state, and local taxes collected by the sector was USD 56 billion. A robust manufacturing infrastructure fosters competitiveness, innovation, and efficiency in the production process. It also enables manufacturers to meet domestic demand and expand export capacities, contributing to market expansion.
Europe is anticipated to experience tremendous global growth over the next few years. The presence of developed nations like Germany and the U.K. is expected to boost regional market growth. Germany is one of the top ten producers of steel in the world. In March , the crude steel output from its mills was 3.8 million tons, an increase of 14.8% yearly. In , the country produced 40.1 MMT of crude steel, up 12.3% from 35.7 MMT in . From January to March , steel production increased to 10.2 million tons, up by 3.2% compared to the same period in . Such trends are likely to expedite the growth of the market. Similarly, the key participants in the region are involved in partnerships, mergers, and acquisitions to strengthen their market position. For instance, in March , Jingye Group, a leading Chinese steelmaker, completed the acquisition of British Steel's U.K. assets. Jingye Group has pledged to invest GBP 1.2 billion to make British Steel more competitive and sustainable. These factors propel the regional market growth.
In South America, Brazil is one of the largest manufacturers and suppliers of Graphite electrodes. Global steel production has increased due to high consumer demand and other end-use industries. According to the local steel institute Aço Brasil, in September , the Brazilian production of crude steel was 3.1 million tons, an increase of 15.3% compared to the same month in . The Brazilian production of crude steel was 27.2 million tons in the first nine months of , which represents a surge of 20.2% compared to the same period in . Similarly, the production of rolled products in the same period was 20.1 million tons, an increase of 28.7% compared to the same period in . Thus, it is likely to support the market over the forecast period.
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The ultra-high power (UHP) electrode segment dominates the global market and is expected to expand substantially over the forecast period. Ultra-high-power graphite electrodes are manufactured for operation at currents with a density of more than 25A/cm2, and the graphite electrode UHP is mainly used for ultra-high-power arc furnaces and powerful ladle furnaces. UHP-grade electrodes are manufactured primarily from petroleum needle coke (PNC). PNC is a carbon-rich solid material derived from cracking petroleum in a complex refinery. The cracking process splits long chains of hydrocarbons into shorter chains. It is accomplished by taking residual oils from the refining process and treating them at high temperatures (above C and pressure).
The global UHP grade electrode production is now running at 100% capacity, and many players are also looking to expand their production abilities. The tier-2 players in the UHP graphite electrodes market witness much of the production increase. The supply/demand imbalance, combined with the need to secure supplies of petroleum needle coke, has resulted in the average cost per metric ton (MT) of UHP grade electrodes rising from USD 4,100 between and to well over USD 11,000.
High-power (SHP) graphite electrodes adopt quality petroleum coke or low-grade needle coke as raw material. Its physical and mechanical characteristics are higher than RP graphite electrodes, such as lower electrical resistance and a greater current density. SHP has higher resistivity and coefficient of thermal expansion (CTE) than UHP electrodes. The production process of SHP graphite electrodes includes crushing, screening, dosing, kneading, forming, baking, high-pressure impregnation, the second time of baking, graphitization, and machining refining. In contrast, SHP nipple uses needle coke, three times impregnation, and four times baking processes. In addition, the demand for electrodes with a larger diameter has increased as EAF furnace sizes have grown. Graphite electrodes with 500 mm or 600 mm diameters have recently gained popularity. Similarly, the SHP electrode is widely used in electric furnaces as a conductive electrode in steel melting. Hence, due to the factors above, the demand for high-power electrodes is expected to increase in the forecast period.
The electric arc furnace segment owns the highest market share and is expected to expand significantly during the forecast period. Steel is produced by melting steel scrap, DRI (direct reduced iron), HBI (hot briquette iron, which is compressed DRI), or pig iron in solid form in an electric arc furnace (EAF).A graphite electrode is utilized to melt steel scrap in the electric arc furnace (EAF) steelmaking procedure. Graphite is used to construct electrodes due to its ability to tolerate high temperatures. In EAF, the electrode tip can reach a temperature of 3,000 degrees Fahrenheit, equivalent to 50 percent of the sun's surface temperature. The diameter and length of electrodes range from 75 mm to 750 mm and up to 2,800 mm, respectively. Currently, EAF steel accounts for approximately 10% of the total market share in China. However, the situation is expected to change due to the increasing availability of steel scrap in the country and government policies encouraging its utilization. As a result of the factors above, demand for graphite electrodes used in EAF applications is anticipated to increase steadily over the forecast period.
The basic oxygen furnace is a vessel steelmakers use to convert liquid iron into steel by burning out most of the remaining carbon, silicon, and other impurities present in iron at about 6% but less than 1% in steel. The process that occurs in the BOF is called basic oxygen steelmaking. The word refers to the presence of fluxes of lime or dolomite, which maintain an alkali pH balance or chemically "base" condition in the furnace. However, basic oxygen furnace (BOF) production utilizes graphite electrodes but only to maintain the virgin steel in a molten state. As such, electrodes are not as large, nor do they require the high level of specification that EAF electrodes require. Electrodes used in BOF operations are commonly referred to as ladle electrodes.
Artificial graphite electrode is made of high-quality low ash materials, such as petroleum coke, needle coke and coal pitch.after calcining,burdening,kneading,forming,baking and pressure impregnation, graphitization and then precision machined with professional CNC machining.such of the products own characteristics with low resistivity, good electrical conductivity ,low ash, compact structure,good anti oxidation and high mechanical strength, so it is the best conductive material for electric arc furnace、ladle furnace and submerged arc furnace.
Connection of graphite electrodes
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1.Wet graphite electrodes must be dried prior to use.
2.The foam protective caps on the electrodes socket shall be removed to verify the integrity of the internal threads of the electrode socket.
3.The surfaces of the electrodes and the internal threads of the socket shall be cleared by compressed air free of any oil and water.no steel wool or metal sand cloth shall be used in such clearance.
4.The nipple must be screwed carefully into the electrode socket of one end of the electrode without collision with the internal threads (it is not suggested to directly put the nipple into the electrode removed from the furnace).
5.The lifting appliance (it’s preferred to adopt graphite lifting appliance) should be screwed into the electrode socket of the other end of the electrode.
6.When lifting the electrode,cushion-like materials must be put on the ground under the connecting end of the electrode to avoid and collision,after the lifting hook has been put into the ring of the lifting appliance,the electrode shall be lifted smoothly to prevent it from falling or colliding with any other fixture.
7.The electrode shall be lifted above the head of the working electrode and dropped slowly aiming at the electrode socket,then the electrode will be screwed to make the helical hook and the electrode declining and turning together,when the distance between the end faces of two electrodes is 10-20mm,the two end face of the electrodes and the outer part of the nipple must be cleared again by compressed air.finally,the electrode must be laid gently,or the threads of the electrode socket and nipple will be damaged because of the violent collision.
8.Use torque spanner to screw the electrode until the end faces of the two electrodes contact closely(the gap of correct connection between the electrodes is less than 0.05mm)
Storage of graphite electrodes
1.The electrodes should be put in a clean and dry place;do not remove the packaging before use so as to prevent the dusts and debris from dropping onto the threads or into the electrode socked and thus affect the precision of the electrode connection.
2.The electrodes stored in the open area must be covered with a rain-proof tarpaulin.
3.The electrodes should be stored in the storehouse neatly.the both sides of the electrodes should be well stacked to prevent from stack sliding.
4.The stacking height of the scattered electrodes should not exceed 2.8 meters,while the electrodes packed in the boxed should not exceed 4 layers.
5.The temperature of the storage places of nipple should not be too high so as to prevent melting of the asphalt nipple bolt.
Transportation of graphite electrodes
1.Cover a rain-proof tarpaulin on the graphite electrodes in the course of long-distance transportation.
2.It is important to use a wire rope when lifting the wooden-packaged electrodes with a lifting crance.it is forbidden to lift the electrodes with the steel packaging belts on the wooden-packaged.
3.For the purpose of protecting the electrodes end and threads,it is not allowed to lift an eletrode with a grappling iron hooking the electrode socket.
4.Put slightly when loading and unloading the nipple box so as to prevent damage to the threads.
Packing
Graphite electrode is packaged by wooden cages and nipple is packaged by wooden boxes.graphite electrode and nipple can be packaged together according to the requirements of the customers.the products are protected by waterproof and dustproof plastic inside and fixed by steel bands,fit for road and sea transportation .
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