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Graphite Electrode Market By Electrode grade, By Application, and Region Forecast 2019-2030
Graphite Electrode Market By Electrode grade, By Application, and Region Forecast 2019-2030
Graphite Electrode Market size was valued at US$ 7,994.4 million in 2023 and is forecast to cross US$ 11,926.2 million by 2030, with a CAGR of 9.11%. from 2024 - 2030. Due to rapid industrialization and urbanization, steel producers around the globe are seeing high growth opportunities. High-quality steel consumption growth in sectors such as building and construction, automotive, and aviation would result in a proportional increase in demand for graphite electrodes. Rising iron and steel production in developing countries, and growing steel scrap availability in China, thus raising the use of electric arc furnaces, are expected to drive market demand during the forecast period.
Growing prices of needle coke are likely to impede the growth of the market, resulting in supply tightness among other constraints, such as limited growth of UHP graphite electrodes in China and consolidation of the graphite electrode industry. The Graphite Electrodes Market is now being driven by a significant upward trend in innovative infrastructure and expanding demand for the production of iron and steel. Furthermore, the development in construction and structures is fueling the growth of the Graphite Electrodes market. The Global Graphite Electrodes Market report provides a holistic evaluation of the market. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market variables.
Study Period
2025-2031Base Year
2024CAGR
9.11%Largest Market
Asia-PacificFastest Growing Market
Asia-Pacific
In 2016 and 2017, as the government attempted to inscribe a domestic supply oversupply, China's steel industry scene was formed by policy-driven dismissal of IF potential. The use of scrap steel in the EAF and basic oxygen furnace (BOF) steel mills has reached a total of over 200 million metric tons per year, according to worldsteel.org. In the meantime, the current 130 million metric tons per year zenith of China's EAF capacity has been abandoned as government regulations limit the generation of integrated mills in key areas and encourage their vigorous replacement with EAF capacity. This has given rise to EAF steel demand, thereby boosting the growth of the market for graphite electrodes.
Global market share has dominated the Asia-Pacific region. In the global scenario, China holds the largest share in the consumption and production potential of graphite electrodes. The increasing production of motor vehicles, along with the rising residential construction industry, is expected to support domestic demand for non-ferrous alloys and iron and steel, which is a positive factor in the growth of market for graphite electrodes in coming years.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2023 |
US$ 7,994.4 million |
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Market Size in 2030 |
US$ 11,926.2 million |
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Market CAGR |
9.11% |
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By Electrode Grade |
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By Application |
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By Region |
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The graphite electrode market size was valued at US$ 7,994.4 million in 2023 and is forecast to cross US$ 11,926.2 million by 2030, with a CAGR of 9.11%. by 2030.
The market key players are: EPM Group GrafTech International Ltd. Graphite India Limited HEG Ltd. Kaifeng Carbon Co., Ltd, Zhongping Energy & Chemical Group (KFCC) Nantong Yangzi Carbon Co., Ltd. Nippon Carbon Co Ltd. Sangraf International SHOWA DENKO K.K. Tokai Carbon Co., Ltd.
The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.