by Graphite crucibles are non-corrosive ceramic composite materials made from graphite powder that offers high temperature stability. They are used extensively in metal smelting applications such as melting of aluminum, zinc, copper, bronze, and tin-lead alloys. Graphite crucibles provide even heat distribution and can withstand very high heats without failure or distortion. The increasing demand from foundries for metal casting is driving the growth of the global graphite crucible market.
The global Graphite Crucible Market is estimated to be valued at US$ 1.24 Mn in 2024 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global Graphite Crucible Market Size is the increasing demand from electric arc furnace steel production. Graphite crucibles are used extensively in electric arc furnaces for secondary steelmaking as they can withstand the high temperatures up to 2,000°C involved in the process. According to the World Steel Association, electric arc furnaces accounted for around 30% of total crude steel production globally in 2021. The growth in secondary steel production using electric arc furnaces is expected to drive the demand for graphite crucibles over the forecast period. Another trend is the increasing adoption of advanced manufacturing technologies like 3D printing which use metals. This is augmenting the demand for refined metals and further driving the metal smelting applications of graphite crucibles.
Porter’s Analysis
Threat of new entrants: Low costs of production have made the graphite crucible market attractive for new entrants. However, established players hold a major share of the market making entry difficult.
Bargaining power of buyers: The buyers have moderate bargaining power due to availability of substitutes. However, graphite crucibles offer better quality and heat resistance making them preferable.
Bargaining power of suppliers: Few suppliers operate in the graphite crucible market with China being the dominant supplier. This gives them significant influence over prices.
Threat of new substitutes: Alternatives like ceramic and clay crucibles are available but lack the exceptional heat resistance of graphite. This poses low threat from substitutes.
Competitive rivalry: The market sees fierce competition among leading global players. They focus on new product developments and capacity expansion to gain shares.
Key Takeaways
The global graphite crucible market is expected to witness high growth over the forecast period supported by their increasing utilization across industries. The global Graphite Crucible Market is estimated to be valued at US$ 1.24 Mn in 2024 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific dominates the market holding over 40% share attributed to presence of large chemical and metallurgical industries in China, India and Japan. The region is anticipated to continue its dominance in the coming years. Europe and North America are other major markets driven by chemical production.
Key players operating in the graphite crucible market include EnviroScience, Jacobszoon Forestry, ENCAP, Polatin Ecological Services, Heartland Restoration Services, SWCA Environmental Consultants, Kimley-Horn, Apache Ecological Service, Ecological Restoration Inc., Integrated Environmental Restoration Services, Envite Environment, and Green Skills. These players focus on expanding their production capacities and geographical footprint to consolidate their positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
