Sept. 14, 2023 (GLOBE NEWSWIRE) — The “Graphite Electrodes Market: Trends, Opportunities and Competitive Analysis 2023-2028″ report has been added to ResearchAndMarkets.com’s offering.
The global graphite electrode market is expected to reach US$10.5 billion by 2028, growing at a compound annual growth rate of 6.5% from 2023 to 2028. The future prospects for the graphite electrode market are broad, with important opportunities in the steel, silicon metal and aluminum industries.
Rising demand for steel in industries such as construction, automotive and aerospace is also driving the market.
Ultra-high voltage graphite electrodes are expected to grow the fastest due to their superior strength, heat resistance, and high strength properties.
As steel consumption continues to grow across all industries, the steel industry will remain a major application area.
The Asia-Pacific region will maintain its position as the largest market due to the presence of electric arc furnace (EAF) manufacturing centers in China and India, as well as the presence of important players in the market.
The report provides market size assessment, trend and forecast analysis, segmentation analysis, regional breakdown, growth opportunities, strategic analysis including mergers and acquisitions and new product development, and assessment of industry competitive intensity based on Porter’s Five Forces model.
Major players in the graphite electrode market such as Showa Dko, FANGDA, (GIL), AOHUI carbon compete on the basis of product quality. Their strategy includes expanding production capacity, investing in research and development, developing infrastructure and integrating the entire value chain.
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