Graphite electrodes are a crucial component in producing electric arc steel and the ladle refinement of steel. They also have a significant impact on the automobile sector. One of the main factors propelling the expansion of the global market is the rising use of graphite in lithium-ion batteries.
The market for graphite electrodes has grown significantly over the past few years. The market is expanding due to the rising demand for high-quality steel.
Graphite Electrode Market: Growth Drivers
The rapid expansion of steel production in developing nations and the accessibility of steel scrap in China is anticipated to propel market expansion shortly. On the other hand, the study market’s growth will probably be hampered by the skyrocketing price of needle coke. The industry is anticipated to benefit from China’s expanding electric arc furnace (EAF) steel production in the upcoming years.
China led the market for Graphite Electrodes.
According to Custom Market Insights (CMI), The Global Graphite Electrode Market size was estimated at USD 7 Billion in 2021 and is expected to hit around USD 12.5 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11% from 2022 to 2030.
Graphite electrodes are a crucial component in producing electric arc steel and the ladle refinement of steel. They also have a significant impact on the automobile sector. One of the main factors propelling the expansion of the global market is the rising use of graphite in lithium-ion batteries.
The market for graphite electrodes has grown significantly over the past few years. The market is expanding due to the rising demand for high-quality steel.
Post time: Nov-10-2022
