Market Size of Graphite Electrode Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 10.19 Billion |
| Market Size (2029) | USD 13.37 Billion |
| CAGR (2024 - 2029) | 5.59 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Graphite Electrode Market Analysis
The Graphite Electrode Market size is estimated at USD 10.19 billion in 2024, and is expected to reach USD 13.37 billion by 2029, growing at a CAGR of 5.59% during the forecast period (2024-2029).
The market was affected negatively by the COVID-19 outbreak in 2020. However, with the resumption of operations in major end-user industries, it recovered significantly in 2021.
- In the short term, the strong growth in steel production in emerging countries and the rising availability of steel scrap in China are expected to drive the market's growth.
- On the flip side, soaring prices of needle coke are likely to hinder the growth of the studied market.
- The rising production of steel through electric arc furnace (EAF) technology in China is expected to act as an opportunity for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market due to strong demand from China.
