What is Global UHP Graphite Electrode Market?
The Global UHP (Ultra High Power) Graphite Electrode Market is a specialized sector within the broader graphite industry. These electrodes are primarily used in electric arc furnaces for the production of steel. The UHP graphite electrodes are known for their superior electrical and thermal conductivity, low thermal expansion, and resistance to thermal shock, making them an essential component in the steel manufacturing process. The global market for these electrodes is vast and diverse, with a value of US$ 6488 million in 2023. It is projected to grow at a CAGR of 2.2% and reach a value of US$ 7569.4 million by 2030.
100mm-350mm, 351mm-500mm, 500mm-700mm, 700mm-800mm in the Global UHP Graphite Electrode Market:
The Global UHP Graphite Electrode Market is segmented based on the diameter of the electrodes. The segments include 100mm-350mm, 351mm-500mm, 500mm-700mm, and 700mm-800mm. The 100mm-350mm segment caters to smaller furnaces and specific applications requiring smaller electrodes. The 351mm-500mm segment is used in medium-sized furnaces, while the 500mm-700mm and 700mm-800mm segments cater to large furnaces used in major steel production plants. The 500mm-700mm segment holds the largest market share, accounting for nearly 40% of the total market. This is due to the high demand for these electrodes in large-scale steel production.
Electric Arc Furnace Steel, Other (Phosphorus, Silicon, etc.) in the Global UHP Graphite Electrode Market:
The primary application of UHP graphite electrodes is in the Electric Arc Furnace (EAF) Steel industry. These electrodes are essential for the EAF process, which involves melting scrap steel using an electric arc. The high conductivity and heat resistance of UHP graphite electrodes make them ideal for this process. Apart from EAF steel, these electrodes are also used in the production of other materials like phosphorus and silicon. These industries also contribute to the demand for UHP graphite electrodes, although to a lesser extent compared to the EAF steel industry.
Global UHP Graphite Electrode Market Outlook:
Looking at the market outlook, the Global UHP Graphite Electrode Market was valued at a significant US$ 6488 million in 2023. The market is expected to witness a steady growth, reaching a value of US$ 7569.4 million by 2030. This growth is projected at a CAGR of 2.2% during the forecast period from 2024 to 2030. The market is dominated by the top five manufacturers, who collectively hold a market share of over 65%. In terms of product segmentation, the 500mm-700mm segment is the largest, accounting for nearly 40% of the market share.
| Report Metric | Details |
| Report Name | UHP Graphite Electrode Market |
| Accounted market size in 2023 | US$ 6488 million |
| Forecasted market size in 2030 | US$ 7569.4 million |
| CAGR | 2.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Showa Denko K.K, Fangda Carbon New Material, GrafTech International, Graphite India Limited (GIL), HEG Limited, Tokai Carbon, SEC Carbon, Ltd, Energoprom Group, Jilin Carbon, Kaifeng Carbon, Nantong Yangzi Carbon |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
