Published on: May 2022
Graphite Electrodes - the backbone of the furnace market
The heating element of an electric arc furnace used to make steel from scrap, old vehicles, and other equipment is graphite electrode. The electrode heats the scrap, causing it to melt and make new steel. Electric arc furnaces are commonly utilised in the steel and aluminium industries because they are less expensive to construct. The graphite electrodes, which are part of the electric furnace lid, can be arranged into columns. When electricity is applied to these graphite electrodes, an arc of extreme heat is formed, which melts the scrap steel. Electrodes come in a variety of sizes, depending on the amount of heat required and the size of the electric furnace.
Market Overview of Graphite Electrodes
Approximately 3 kg of graphite electrode is required to produce 1 tonne of steel. Because graphite can endure such a high temperature, the temperature of the electrode tip reaches roughly 3000 degrees Celsius throughout the steel making process. The main raw materials used to make graphite electrodes are needle and petroleum coke, which can take up to six months to produce after going through several procedures like baking and rebaking to transform the coke into graphite. Graphite electrodes are easier and faster to make than copper electrodes since they don't require any additional steps, such as manual grinding.
The giants of the Graphite Electrodes market
Fangda Carbon China, SEC Carbon Japan, GrafTech USA, Nantong Yangzi Carbon Co., Ltd., SGL Carbon Germany, Showa Denko Japan, Schutz Carbon Electrodes, Nippon Carbon Japan, Aggreko, Showa Denko Carbon, Kaifeng Carbon Co, Graphite India, HEG India, Tokai Carbon Japan, and Others are included in the global graphite electrodes market report. Fangda Carbon China, GrafTech USA, and Graphite India have a combined manufacturing capacity of 454,000 tonnes.
Market Dynamics for Graphite Electrodes Around the World:
The market's expansion is being fueled by rising demand for engineering and construction materials, as well as a spike in steel and iron production, as well as an increase in industrialization and contemporary infrastructure. Green and sustainable architecture and construction is predicted to develop at a rate of 22.8 percent yearly between 2012 and 2017, according to the World Green Building Trend. In addition, an increase in spending on large-scale infrastructure projects would propel the worldwide graphite electrode market forward. Project and infrastructure spending totaled USD 4 trillion in 2012, according to a recent study by Oxford Economics, and is predicted to reach more than USD 9 trillion by 2025. These enormous projects will increase demand for steels and aluminium-based materials, which will benefit the graphite electrode used in building material manufacturing. Furthermore, the rapid increase in digitalization with improved technology is a crucial element driving graphite electrode growth.
However, raw material price fluctuations and the high cost of graphite electrode maintenance and installation are some of the issues that may limit market expansion. Despite this, a growing focus on the technological development of electric arc furnaces, such as D.C. (Direct Current) furnaces, which have recently been used to increase the production capacity of both the furnace and the transformer by using higher currents for graphite electrode manufacturing, can provide a huge opportunity for the market's future growth.
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