(MENAFN- GlobeNewsWire - Nasdaq) New York, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Graphite Electrode Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type ; Application, and Geography" - [To enable links contact MENAFN]
Graphite electrode, which is primarily used in steel production via Electronic Arc Furnace (EAF), saw a massive wave in its prices in the past one year.This was due to an unexpected divergence in the demand-supply dynamics.
In the last 4–5 years, the global graphite electrode industry reeled from overcapacity.This led to weak graphite electrode prices as the demand, which depends on steel production through the EAF route, was down due to slow demand growth, excessive supply from China, and higher EAF steel production cost as opposed to Basic Oxygen Furnace (BOF) route.
Factors such as transition in Chinese steel industry and concerns regarding traditional Induction Furnace Green House Gas (GHG) emissions are driving the growth of the graphite electrode market. However, limited supply of needle coke is hindering the growth of graphite electrode market.
However, the supply and demand witnessed a significant shift by June 2017, with the market demand exceeding the supply, mostly in China.An abrupt change in the industry's fortune was primarily driven by China's environmental control policy, which led to a phase-out of old, less efficient, and polluting units (across industries).
The rule hit China's steel and graphite electrode manufacturing companies, and ~170 million tonnes of steel capacity (~15% of China's total installed capacity) and nearly 200,000 tonnes of graphite electrode manufacturing capacity sealed during 2016–2017. This had a significant impact on the global graphite electrode industry, which, in turn, positively impacted the graphite electrode market.
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The graphite electrode market has been segmented on the basis of product type, application, and geography.Based on product type, the graphite electrode market is segmented into high power, ultra-high power, and regular power.
Needle coke is the primary raw material for the production of graphite electrodes.There are two types of needle coke: petroleum needle coke and pitch needle coke.
Petroleum needle coke is produced through decant oil (Clare: US: (339)-368-6001
Intl: +1 339-368-6001
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