The global recarburizers market revenue was around US$ 498.44 million in 2022 and is estimated to reach US$ 834.9 million by 2031, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2023 to 2031.
Recarburizers are materials that add carbon to steel in a liquid form. They are used to change the steel's carbon content. There are numerous types of materials with the possibility of being utilized as recarburizers, but the usual ones are natural graphite, petroleum coke, and synthetic graphite.
Market Driving Factors
Increasing demand for steel from several industries propels the market growth. Recarburizers are essential to the manufacturing of steel since they are carbonaceous materials. They make it possible to precisely manage the molten metal's carbon content, which is essential to the manufacturing of steel. In addition, recarburizers are added to the steel-making process to help producers fine-tune the carbon levels in the finished steel product to get the required quality and performance attributes.
Innovations in the production and sourcing of recarburizers that guarantee more environmentally friendly and sustainable options are becoming more and more possible as industries, especially the steel and foundry industries, turn their attention to sustainability and lower their carbon footprint and emissions. As a result, businesses are looking for environmentally friendly recarburizer solutions for the steel industry, which is expected to create opportunities in the market.
Recarburizer use in steel applications is restricted by several strict global emission standards and environmental restrictions. Thus, this factor limits the market growth.
Regional Analysis
The Asia Pacific dominated the market in terms of the largest share. This can be mainly attributed to the vast infrastructure development and quick rate of industrialization in countries like China, India, and Indonesia, along with the region’s shifted choice from conventional blast furnaces to electric arc furnaces that usually need high-quality recarburizers to reach desired carbon levels efficiently.
Furthermore, the easy availability of raw materials required for the production of recarburizers such as coal tar pitch, petroleum coke, and cheap labor in several nations in this region. Therefore, this factor creates lucrative possibilities for product manufacturing and export into global markets.
North America dominates the market in terms of the rate. This is due to favorable economic conditions like manufacturing output, industrial production, and Gross Domestic Product (GDP) growth, among others. In addition, the demand for recarburizers will also surge at a rapid pace with the increase in the number of large-scale infrastructure projects in the region, such as roads, bridges, highways, and commercial buildings that need a substantial amount of steel in the region.
Segmentation Insights
Material Insight
The petroleum coke segment accounted for the largest share of the market. This is due to its widespread availability as a byproduct of the oil refining procedure and substantial adoption by manufacturers all over the world owing to its reliable sourcing and easy accessibility. Furthermore, it has multiple other beneficial and advantageous characteristics, including profitable carbon composition, which allows for exact adjustments to carbon content that make it a highly favored choice for achieving precise carbon control in iron and steel production.
The graphite segment is estimated to dominate the market in terms of the highest growth rate during the projection period. This is due to its increasing popularity in the steel and iron industry owing to its lower impurity levels, high carbon content, and competitive costs as compared to other alternative recarburizer materials.
Application Insight
The steel production segment dominates the market in terms of revenue. This is primarily due to elements like rapid industrialization & urbanization, and increasing infrastructure development, especially in emerging economies. Furthermore, increasing advances in steel manufacturing processes and technologies, including ladle metallurgy furnaces and electric arc furnaces are also likely to have raised the demand for high-quality recarburizers that could meet exact carbon content and sulfur needs.
Prominent Companies
Segmentation Outline
The global recarburizers market segmentation focuses on Material, Application, and Region.
By Material
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL RECARBURIZERS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: RECARBURIZERS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL RECARBURIZERS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL RECARBURIZERS MARKET, BY MATERIAL
5.1 OVERVIEW
5.2 PETROLEUM COKE
5.3 CHARCOAL
5.4 GRAPHITE
6 GLOBAL RECARBURIZERS MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 CASTING
6.3 SMELTING
6.4 STEEL PRODUCTION
7 GLOBAL RECARBURIZERS MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL RECARBURIZERS MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 ANYANG JINBEITE METALLURGICAL REFRACTORIES CO. LTD
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 ANYANG XINLONGSEN METALLURGICAL MATERIAL CO. LTD
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 CHALLENGER CARBON AND CHEMICAL CORPORATION
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 ELKEM
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 GRAFTECH INTERNATIONAL
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 HENAN CHENGGANG MATAL MATERIALS CO. LTD
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 HUNAN XINTAN NEW MATERIAL CO. LTD
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 JU CHUN CARBON
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 LUKOIL
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 NIPPON COKE & ENGINEERING CO. LTD
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 OXBON CARON LLC
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.12 PIONEER CARBON
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
9.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.13 RAIN INDUSTRIES LIMITED
9.13.1 OVERVIEW
9.13.2 FINANCIAL PERFORMANCE
9.13.3 PRODUCT OUTLOOK
9.13.4 KEY DEVELOPMENTS
9.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.14 SECAR CARBUROS
9.14.1 OVERVIEW
9.14.2 FINANCIAL PERFORMANCE
9.14.3 PRODUCT OUTLOOK
9.14.4 KEY DEVELOPMENTS
9.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.15 SHIJIAZHUANG HUANAN CARBON FACTORY CO. LTD
9.15.1 OVERVIEW
9.15.2 FINANCIAL PERFORMANCE
9.15.3 PRODUCT OUTLOOK
9.15.4 KEY DEVELOPMENTS
9.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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