Electrode Paste Market to Record Sturdy Growth by 2026
Electrode
paste, also known as soderberg paste, is used in the manufacture of
carbon electrodes. It is employed in electric arc furnace for the
production of various types of ferrous and non-ferrous alloys and
other chemicals. Various raw materials are required for the
production of electrode paste. These include calcined anthracite,
coal tar, and calcined petroleum coke or calcined pitch coke.
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Significant
advancements have taken place in electrode paste over the last few
decades. Electrode paste helps decrease the impedance of the contact.
It can easily be modified by using various other types of mixtures in
order to obtain desired shapes and properties. However, high cost of
production and high initial cost of implementation are likely to
hamper the electrode paste market. Implementation of stringent
regulations pertaining to the manufacture of electrode paste is
adversely affecting the manufacturing process. However, technological
advancements are projected to lower the cost of electrode paste.
The
electrode paste market can be segmented based on grade, form,
application, and region. In terms of grade, the market can be
bifurcated into unbaked paste and baked paste. Based on form, the
electrode paste market can be classified into briquette carbon
electrode, trapezium carbon electrode, cylinder electrode paste, and
others. The size and shape of briquette carbon electrode depends on
the shape of molds. Trapezium carbon electrodes widen at their ends
akin to a trapezium, where the electrode junction is made during the
manufacturing process. Electrode paste is used in a wide range of
applications such as ferrous alloys, non-ferrous alloys, calcium
carbide, metal cleaning, and others. Electrode paste is largely used
in the production of ferro alloys, metal cleaning products, and
calcium carbide.
In
terms of region, Asia Pacific is the prominent region of the global
electrode paste market, led by rapid growth in the industrial sector
in countries such as India, China, Japan, and Australia. The
electrode paste market in China is estimated to expand at a
substantial pace owing to the high growth in the manufacturing
industry, which uses electrode paste for various purposes. Countries
in Europe such as France, Germany, and Italy employ electrode paste
in the production of alloys and super alloys. North America is the
one of the major regions of the global electrode paste market, led by
the U.S. Government’s policy to refurbish its industrial and
commercial sector. Increase in demand for high performance,
lightweight materials in aerospace, automotive, industrial gas
turbines, and industrial applications is expected to positively
impact the electrode paste market. The Association of European
Ferro-Alloy Producers has been promoting the usage of electrode paste
in various applications. Demand for electrode paste in countries such
as Mexico and Brazil in Latin America is rising due to the rapid
industrialization. Africa is also anticipated to create lucrative
opportunities for the electrode paste market in the next few years
due to the increase the production of alloys and super alloys in the
region.
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Key
players operating in the global electrode paste market include
Lanzhou Yangguang Carbon Corp, Elkem Carbon, India Carbon Ltd., Redox
Pty Ltd, Shanxi Danyuan Holdings Co., Ltd., Carbon Resources (P)
Ltd, and VUM, a.s. These companies are investing in R&D
activities to develop advanced products to cater to the demand from
various industries.
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