Graphite Electrodes Market Growing at 10.16% CAGR to 2020

PUNE, India, August 24, 2016 /PRNewswire/ --

The global graphite electrodes market 2016-2020 report says exploring opportunities in high-growth sector will be a key trend as growth in infrastructure and construction, oil and gas industry, and automotive industries varies in countries that have shown robust growth rates for steel consumption. In terms of steel demand, infrastructure and construction remain the dominant sectors. Most of the growth in the automotive industry will come from China, the US, Brazil, India, and Japan.

Complete report on graphite electrodes market spread across 73 pages, analyzing 5 major companies and providing 51 data exhibits is now available at http://www.rnrmarketresearch.com/global-graphite-electrodes-market-2016-2020-market-report.html.

The analysts forecast global graphite electrodes market to grow at a CAGR of 10.16% during the period 2016-2020. According to the 2016 graphite electrodes market report, growth in end-user industries will be a key driver for market growth. The automotive, mechanical machinery, and infrastructure and construction industries are the main users of steel and have been driving the steel demand for many years. The infrastructure and construction sector, which accounts for more than 51.53% of the world steel consumption, is expected to post a CAGR of 7.6 % until 2020. Similarly, the machinery and automotive industries, which account for roughly 14.84% and 12% of the global steel consumption in 2015 respectively, are poised to grow at a higher rate during the forecast period. This will lead to a constant increase in steel demand over the next few years, thereby fueling the growth of graphite electrodes.

Graphite electrodes are largely used in EAF to manufacture steel. These electrodes act as conductors of electricity in the furnace and generate heat to melt scrap metal such as iron ore and other raw materials that are used in steel production. Graphite electrodes are the only products that have a high electrical conductivity and the capability to sustain high levels of heat in an EAF to produce steel. They are an essential part of steel production in EAF, and they do not have any commercially viable substitute.