Asia Pacific Graphite Electrodes Market

Asia Pacific Graphite Electrode Market Size (2024-2029)

The Asia Pacific Graphite Electrode Market is estimated to be USD 3.72 billion in 2024 and is projected to reach USD 5.07 billion by 2029, at a CAGR of 6.35% from 2024 to 2029.

Market Scenario

A graphite electrode is an electrode that is employed for offering a high-level electrical conductivity and the capability to sustain an extremely high level of dissipated heat. These electrodes are primarily used in the manufacturing of electric arc furnace (EAF) steel & the refinement of steel, and the similar smelting process such as silicon, ferroalloys, white phosphorus/ yellow phosphorus, etc.

The growth of the Asia-Pacific Graphite Electrodes Market is attributed to the high consumption and the production of these graphite electrodes in the emerging economies such as China and India.

Market Drivers

The high consumption and production of graphite electrodes in Japan, China, and India is the primary driver of the Asia-Pacific Graphite Electrode Market.

Market Restraints

However, the lack of availability of the raw materials required in the manufacturing process of these graphite electrodes, which are highly volatile, is the major restraint of the Asia-Pacific Graphite Electrode Market.

Market Segmentation

Asia Pacific Graphite Electrode Market Analysis By Product Type

• Ultra-High Power (UHP)
• High Power (HP)
• Regular Power (RP)

Asia Pacific Graphite Electrode Market Analysis By Application

• Steel
• Silicon Metal
• Aluminum

 Among these, steel and non-ferrous metals are the segments that have a significant share of the market because of the region’s high share in steel making.

Geographical Analysis

• China
• India
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Indonesia
• Philippines
• Vietnam
• Singapore
• Rest of APAC

In the regional analysis of the Asia-Pacific Graphite Electrode Market, China is the leading region in the market revenue owing to demand in graphite electrodes that are expanding rapidly because of the change in the regulation of the Chinese government. Also, the increasing share of EAF-based steel production in the country is boosting the growth of the target market in China.

Market Key Players

The key players of the Asia-Pacific Graphite Electrode Market include Showa Denko K.K., GrafTech International, Graphite India Limited, Nippon Carbon Co. Ltd., HEG Limited, Kaifeng Carbon Co., Ltd., Nantong Yangzi Carbon, SEC Carbon, Ltd., and Tokai Carbon Co., Ltd.

Market Recent Developments

• Showa Denko KK Group, a leading Japanese chemical engineering firm, has committed to Install Equipment for Mass-producing the SPALF Packaging Material for Large Onboard lithium-ion batteries. 

• Tokai Carbon Co., Ltd. has acquired the Graphite Electrodes Business Of the SGL GE, which one of the largest Graphite Electrode manufacturers.