China was the largest producer of graphite electrodes and grow with highest CAGR of 4.3% during the forecast period of 2017-2024
The global graphite electrode market is an oligopolistic market, with no new entrants functioning in the industry since recent past. The graphite electrode market is facing a declining growth trend due to the possession of core technology by only a handful of players. It is solely a technology sensitive and capital-intensive market. The demand of graphite electrodes is majorly dependent on its application in manufacturing steel through smelting by using an electric arc furnace (EAF). Steel manufacturers are shifting towards electric arc furnace over the blast furnaces, owing to the advantages offered by EAF such as low cost of establishment, higher production flexibility, and low CO2 emissions. Some prominent market players are SGL Group, GrafTech, Fangda Carbon, Showa Denko K.K, Jilin Carbon, Tokai Carbon, Nippon Carbon, Graphite India Limited (GIL), HEG Limited, Yangzi Carbon, and Kaifeng Co., Ltd. The market gi...