The global recarburizers market size is expected to reach USD 879.48 million by 2032, according to a new study by Polaris Market Research. The report "Recarburizers Market Share, Size, Trends, Industry Analysis Report, By Material (Petroleum Coke, Charcoal, and Graphite); By Application; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing steel demand across a diverse range of industries, growing production of steel and iron that significantly requires recarburizers to achieve desired carbon levels, and drastic shift towards environmentally friendly and sustainable manufacturing practices are the leading factors propelling the market growth. In addition, rising investments in R&D activities to innovate new products and, upgrade the existing ones, and focus on several business expansion or development strategies like partnerships and collaborations by major players will likely bode well for market growth over the years.
For instance, in May 2023, EcoGraf Limited announced that they had signed a non-binding Cooperation Agreement with POSCO International. Under this agreement, the companies will focus on the development of by-product fines, including EcoGraf's GreenRECARB, a type of induction and electric arc furnace recarburizer, among others.
Moreover, the growing emphasis on high-performance and superior-quality steel products around the world has led to a significant number of industries seeking cleaner alternative solutions for carbon control during steel production. As recarburizers offer an eco-friendly and sustainable solution for maintaining carbon levels while reducing impurities and improving mechanical properties, they are gaining huge traction worldwide.
The rapid development of various types of nanostructured carbon materials such as graphene or carbon nanotubes has shown promise in improving the effectiveness of recarburizers and surge in the number of innovations in purification processes worldwide that help to remove impurities and contaminants from the raw materials used in the product production with higher-quality, are likely to generate huge growth potential for the market in the next coming years.
The growing number of companies investing in research & development activities to develop or create efficient and innovative recarburization technologies and increasing incorporation of advanced graphitization techniques, purification processes, and surface modifications into the production processes has been gaining significant traction and population in recent years.
For instance, in May 2023, EcoGraf Limited announced that they had signed a non-binding Cooperation Agreement with POSCO International. Under this agreement, the companies will focus on the development of by-product fines, including EcoGraf's GreenRECARB, a type of induction and electric arc furnace recarburizer, among others.
Recarburizers Market Report Highlights
The petroleum coke segment accounted for a noteworthy share, mainly due to its beneficial characteristics, including high carbon content and favorable carbon combustion.
The steel production segment held the majority market share on account of a significant increase in the need for steel among various industries like automotive.
Asia Pacific dominated the global market with a considerable share, owing to the presence of some of the leading steel-producing countries and rapid industrialization in the region.
The key market players include Challenger Carbon and Chemical Corporation, Oxbow Carbon, Pioneer Carbon, Rain Industries, GrafTech International, and LUKOIL.
Polaris Market Research has segmented the recarburizers market report based on material and application, and region:
Recarburizers, Material Outlook (Revenue - USD Million, 2023 - 2032)
- Petroleum Coke
- Charcoal
- Graphite
Recarburizers, Application Outlook (Revenue - USD Million, 2023 - 2032)
- Casting
- Smelting
- Steel Production
Recarburizers, Regional Outlook (Revenue - USD Million, 2023 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Recarburizers Market Insights
- 4.1. Recarburizers Market - Industry Snapshot
- 4.2. Recarburizers Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing steel demand from various industries driving the market growth
- 4.2.1.2. The growing focus of industries, particularly steel and foundry industries, towards sustainability and reducing their carbon footprint and emissions
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Stringent environmental regulations
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Recarburizers Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Recarburizers Market, by Material
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Recarburizers, by Material, 2019-2032 (USD Million)
- 5.3. Petroleum Coke
- 5.3.1. Global Recarburizers Market, by Petroleum Coke, by Region, 2019-2032 (USD Million)
- 5.4. Charcoal
- 5.4.1. Global Recarburizers Market, by Charcoal, by Region, 2019-2032 (USD Million)
- 5.5. Graphite
- 5.5.1. Global Recarburizers Market, by Graphite, by Region, 2019-2032 (USD Million)
6. Global Recarburizers Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Recarburizers Market, by Application, 2019-2032 (USD Million)
- 6.3. Casting
- 6.3.1. Global Recarburizers Market, by Casting, by Region, 2019-2032 (USD Million)
- 6.4. Smelting
- 6.4.1. Global Recarburizers Market, by Smelting, by Region, 2019-2032 (USD Million)
- 6.5. Steel Production
- 6.5.1. Global Recarburizers Market, by Steel Production, by Region, 2019-2032 (USD Million)
7. Global Recarburizers Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Recarburizers Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3. Recarburizers Market - North America
- 7.3.1. North America: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.3.2. North America: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.3.3. Recarburizers Market - U.S.
- 7.3.3.1. U.S.: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.3.3.2. U.S.: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.3.4. Recarburizers Market - Canada
- 7.3.4.1. Canada: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.3.4.2. Canada: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4. Recarburizers Market - Europe
- 7.4.1. Europe: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.2. Europe: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.3. Recarburizers Market - UK
- 7.4.3.1. UK: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.3.2. UK: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.4. Recarburizers Market - France
- 7.4.4.1. France: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.4.2. France: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.5. Recarburizers Market - Germany
- 7.4.5.1. Germany: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.5.2. Germany: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.6. Recarburizers Market - Italy
- 7.4.6.1. Italy: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.6.2. Italy: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.7. Recarburizers Market - Spain
- 7.4.7.1. Spain: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.7.2. Spain: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.8. Recarburizers Market - Netherlands
- 7.4.8.1. Netherlands: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.8.2. Netherlands: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.4.9. Recarburizers Market - Russia
- 7.4.9.1. Russia: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.4.9.2. Russia: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5. Recarburizers Market - Asia Pacific
- 7.5.1. Asia Pacific: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.2. Asia Pacific: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5.3. Recarburizers Market - China
- 7.5.3.1. China: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.3.2. China: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5.4. Recarburizers Market - India
- 7.5.4.1. India: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.4.2. India: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5.5. Recarburizers Market - Malaysia
- 7.5.5.1. Malaysia: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.5.2. Malaysia: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5.6. Recarburizers Market - Japan
- 7.5.6.1. Japan: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.6.2. Japan: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5.7. Recarburizers Market - Indonesia
- 7.5.7.1. Indonesia: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.7.2. Indonesia: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.5.8. Recarburizers Market - South Korea
- 7.5.8.1. South Korea: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.5.8.2. South Korea: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.6. Recarburizers Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.6.2. Middle East & Africa: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.6.3. Recarburizers Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.6.3.2. Saudi Arabia: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.6.4. Recarburizers Market - UAE
- 7.6.4.1. UAE: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.6.4.2. UAE: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.6.5. Recarburizers Market - Israel
- 7.6.5.1. Israel: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.6.5.2. Israel: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.6.6. Recarburizers Market - South Africa
- 7.6.6.1. South Africa: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.6.6.2. South Africa: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.7. Recarburizers Market - Latin America
- 7.7.1. Latin America: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.7.2. Latin America: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.7.3. Recarburizers Market - Mexico
- 7.7.3.1. Mexico: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.7.3.2. Mexico: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.7.4. Recarburizers Market - Brazil
- 7.7.4.1. Brazil: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.7.4.2. Brazil: Recarburizers Market, by Material, 2019-2032 (USD Million)
- 7.7.5. Recarburizers Market - Argentina
- 7.7.5.1. Argentina: Recarburizers Market, by Application, 2019-2032 (USD Million)
- 7.7.5.2. Argentina: Recarburizers Market, by Material, 2019-2032 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Anyang Jinbeite Metallurgical Refractories Co. Ltd.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Anyang Xinlongsen Metallurgical Material Co. Ltd.
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Challenger Carbon and Chemical Corporation
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Elkem
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. GrafTech International
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Henan Chenggang Matal Materials Co. Ltd.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Hunan Xintan New Material Co. Ltd.
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. JuChun Carbon
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. LUKOIL
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Nippon Coke & Engineering Co. Ltd.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Oxbon Caron LLC
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Pioneer Carbon
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Rain Industries Limited
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. Secar Carburos
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
- 9.15. Shijiazhuang Huanan Carbon Factory Co. Ltd.
- 9.15.1. Company Overview
- 9.15.2. Financial Performance
- 9.15.3. Product Benchmarking
- 9.15.4. Recent Development