Market Size of UHP Graphite Electrode Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UHP Graphite Electrode Market Analysis
The Global UHP Graphite Electrode Market is projected to register a CAGR of over 5% during the forecast period (2022-2027).
UHP Graphite Electrode market was hard hit due to the repercussions of Covid-19 on the manufacturing sector across the globe. As the economic activities declined, the steel demand from the automotive and construction industry reduced adversely, leading to a direct impact on the demand for UHP Graphite Electrodes. On the positive front, the market witnessed a substantial rebound in 2021 with an active pick-up in economic activities, leading to a gradual drop in steel demand. In line with consistent development initiatives being undertaken across the globe, the expected rise in the steel demand is expected to keep the consumption of the UHP Graphite Electrode market appreciable in 2022.
- Surging prices of needle coke which is highly utilized to produce graphite electrodes are expected to hinder the market growth.
- Increasing emphasis on adopting the Electric Arc Furnace (EAF) method to produce steel across various economies due to its low polluting nature is expected to bolster the demand for UHP Graphite Electrodes.
- The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.
