STEEL + TECHNOLOGY 04/2019 EXTRACT

84 | PANORAMA
Healthy growth rate over the next five years
Graphite electrode market for the metal
industry to reach US$ 15.3 billion in 2024
Stratview Research announces the launch of a new research report on Graphite Electrode Market for the Metal
Industry 2019-2024. The report also addresses the current supply constraint (limited production capacity) of
both graphite electrode as well as petroleum needle coke and its impact on the price as well as demand for
graphite electrodes.
Graphite electrode is an essential
component of steel production
through the electric arc furnace
(EAF) method. After five years of downcycle,
the demand for graphite electrode
started emerging in 2016 with the
increased production of steel through the
EAF method. The penetration of EAFbased
steel production is expected to be
stable in the foreseen future, because of
high awareness of the developed economies
towards environmentally friendly
technologies. The role of China and India
in the production of EAF steel is going to
be consequential in the coming years as
the current penetration of EAF steel production
in both countries are lower than
the developed countries but will rise at a
greater pace in the coming years. This will
imprint a significant upward trend in the
demand for graphite electrodes in the
coming five years.
The market’s supply chain is extremely
dynamic with a tight supply of raw materials
(petroleum needle coke) as well as
graphite electrode coupled with the consistent
increase in EAF steel production.
The preference of lithium-ion battery in the
increasing production of electric vehicles
further takes the supply crunch to the next
level. Petroleum needle coke is an essential
raw material to produce lithium-ion battery.
In addition, no substitute of graphite
electrode in the production of EAF steel,
makes the material a strategic resource
rather than mere a commodity.
Highlights from the report
As per Stratview Research, the market for
graphite electrode in the global metal
Graphite electrodes in operation at a ladle
treatment facility (Picture: SMS group)
STEEL + TECHNOLOGY 1 (2019) No. 4