Graphite Electrode Market: Trends, Growth, and Future Outlook
The global graphite electrode market size is expected to reach USD 20.13 billion by 2030, registering a CAGR of 4.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increased use of innovative and efficient production processes by steel producers worldwide is related to further development. Growing awareness about the environmental impact of excessive usage of petroleum-derived products has resulted in the development of novel materials to lessen the environmental impact. Industrial processes that use graphite electrodes include aluminum smelting, silicon manufacturing, and phosphorus production. They are important due to their desirable qualities, which include high electrical conductivity, high thermal conductivity, strong resilience to heat & impact, and high strength & stiffness. Governments and industries globally are investing in renewable energy sources, such as wind and solar power. This has led to a surge in the in...