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Flourishing Business of Graphite Electrodes: Why This Industry is Booming

Ajay Kumar Gupta

NIIR PROJECT CONSULTANCY SERVICES (NPCS)

发布日期: 2022年9月6日

Graphite electrodes are crucial components in devices that help the brain, heart, and nervous system function properly. From smartphones to pacemakers, they are an integral part of the modern world. A graphite electrode is a style of battery that utilizes dispersed material, purposely added to an electrode in order to increase its surface area so as to continue absorbing more material.

Graphite electrodes are gaining popularity all over the world because of their role in many industrial applications and benefits to users. As the demand for graphite electrodes rises, so does the number of companies involved in this industry and hence, the flourishing business of graphite electrodes.

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Uses and Application of Graphite Electrodes

Graphite electrodes are used in industry as a popular option for heating because they are chemically inert and do not react with the material. They are also suitable for use in high temperatures, making them an excellent option for industries that need to heat their materials quickly. Graphite electrodes are used primarily in electric arc furnace steel manufacturing. Graphite electrodes can provide high levels of electrical conductivity and capability of sustaining the extremely high levels of generated heat. Graphite electrodes are also used in the refinement of steel and similar smelting process. Carbon-graphite electrodes are also used in gouging operations such as in the forming of a bevel or groove, removing defects in castings or weldments by an arc or gas process. Arc gouging removes material by melting it with the heat of an arc struck between a carbon – graphite electrode and the base metal. Compressed air or nitrogen simultaneously blows the molten metal away.

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Benefits of Starting Graphite Electrodes Business

The rising demand for graphite electrodes in steel-oriented sectors such as construction, automotive, infrastructure, and aerospace and defense are the key factor driving the market. The increasing requirement of anti-corrosive products for oil and petroleum wells and pipelines in the oil and gas sector has further enhanced the use of EAF, and subsequently catalyzed the demand for these electrodes. Additionally, the increasing requirement for Ultra-High Power (UHP) graphite electrodes is another market trend that is projected to drive the market. UHP has a higher thermal and electrical conductivity and can swiftly melt scrap to manufacture steel. It is therefore highly preferred by steel manufacturers, and its demand is expected to grow substantially in the coming years.

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Manufacturing of Graphite Electrodes

To begin the process, the raw materials are ground together. Next, they mix with a liquid pitch. Pitch is a tar type of resin, and when mixed with the raw materials, it forms a graphite mixture which is then placed into molds. The molds are then vibrated at high speeds to compact the mixture. The electrodes turn into pitch coke and bake, creating a solid electrode. To improve the texture, the electrodes enter an autoclave where they soak up the liquid pitch. After soaking, they bake again to solidify their composition. By baking the electrodes at 3000 degrees Celsius, they become graphite.

Indian Market Outlook of Graphite Electrodes Business

The graphite electrode market was valued at USD 8,791.65 million in 2021, and it is projected to register a CAGR of 4.6% during the forecast period (2022-2027). Graphite electrodes are one of the most common materials for metal smelting in India. For a long time, it was produced solely in Europe, China and the United States. But nowadays as manufacturers gear up to meet ever-growing demands, business ventures and partnerships have been established with counterparts in Africa and Latin America. Prices of graphite electrode have skyrocketed. Existing investors and entrepreneurs are considering this investment opportunity seriously now that they see that the market is only getting bigger! Indian Government Schemes Helping Fuel the Graphite Electrode Industry

The Indian government has been working on improving conditions in rural areas and establishing new industries where employment opportunities will be available to people living there. In an effort to improve the lives of these people, the Ministry of New & Renewable Energy (MNRE) has started programs aimed at creating demand for graphite electrodes among small scale industries such as those found in rural areas. As a result, many businesses are looking into expanding their production capabilities to meet the rising need.

The largest consumers of graphite electrodes are zinc producers followed by copper producers and steel producers. However, during the last few years, iron and manganese producers have also begun using them in large quantities.

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Global Market Outlook of Graphite Electrodes Business

The global market for Graphite Electrodes estimated at US$10.8 Billion in the year 2020, is projected to reach a revised size of US$14.5 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. The Graphite Electrodes market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2026 trailing a CAGR of 6.2% over the analysis period. ?Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

In the global Regular Power segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$768.4 Million in the year 2020 will reach a projected size of US$982.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$479 Million by the year 2026, while Latin America will expand at a 3.9% CAGR through the analysis period.

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If you need information about the Business of Graphite Electrodes, then contact NPCS. The project report from Entrepreneur India enables you to choose a profitable project for investing. If you are thinking about starting a business, one of the first things you should do is contact NPCS. They offer a range of services that can help you get your business off the ground, including project management, feasibility studies, and market research. Now is the time to do it. NPCS can help you get started.

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