While the graphite electrodes market may have seen a decline in the past, it is suspected that there are certain growth opportunities available in coming years. In fact, according to the global graphite electrodes market report for 2016 through 2020, exploring new opportunities in the high-growth sectors will help this industry experience robust growth rates. It is imperative for graphite electrode suppliers to learn what these opportunities are and then take advantage of them to ensure their continued success and growth.
Level of Growth Possible
During the period between 2016 and 2020 analysts have forecasted that the graphite electrodes market is going to grow at a CAGR of 10.16 percent. There are several end-user industries that are going to be key drivers for this market growth. These industries include: construction, infrastructure, mechanical machinery, and automation. With this information in mind, graphite electrode suppliers’ need to actively monitor these sectors to ensure their individual businesses follow the trend and continue to grow.
How are Graphite Electrodes Used?
Graphite electrodes are mainly used for manufacturing steel. The electrodes serve as conductors of electricity in a furnace and work to generate heat to melt scrap metal including iron ore, as well as other types of raw materials used to produce steel. The fact is, the graphite electrodes are the only items that have an electrical conductivity that is high enough and the ability to sustain higher levels of heat that are necessary for producing steel.
As you can see, the need for graphite electrodes is vast if companies know what industries to target. To learn more about the opportunities available now and in the future, you can visit the M. Brashem, Inc. website or call the helpful and friendly staff at 1-800-274-2008.