Graphite Electrode Market is Forecasted to Reach US$12.4 Billion in 2034, Says Stratview Research

The global Graphite Electrode market size was valued at US$9.4 billion in 2024 and is projected to reach US$12.4 billion by 2034, witnessing a market growth CAGR of 2.4% from 2025 to 2032, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global Graphite Electrode market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2024: US$9.4 billion
Market Size in 2034: US$12.4 billion
Growth (CAGR): 2.4% during 2025-2031
Leading Product Type: Ultra-High Power (UHP)
Leading Metal Type: Steel
Leading Steel-Area Type: Side Oxidation
Leading Steel-Grade Type: Carbon Steel
Leading Region: Asia-Pacific
Forecast Period: 2025-2031
Trend Period: 2018-2022
Base Year: 2024
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Graphite Electrode Market:

The global Graphite Electrode market is segmented based on Product type, Metal type, Steel-Area type, Steel-Grade type, and Region.

Based on the Product type -

- The graphite electrode market for the metal industry is segmented into ultra-high power (UHP), high power (HP), and regular power (RP). UHP is expected to remain the most preferred as well as the fastest-growing product during the forecast period.
- Higher durability, higher thermal resistance, and superior quality are some of the properties that are propelling the demand for UHP graphite electrodes, especially in the steel industry. All the major global players are primarily in the manufacturing of UHP graphite electrodes.

Based on the Steel Grade type -

- The Graphite Electrode for the metal industry market for steel grade type is segmented into carbon steel, stainless steel, and others.
- Carbon steel is the dominant segment because production volume is the largest due to its high uses and low production cost, as compared to other segments that account for more than 85% of total Graphite Electrode consumption in EAF steelmaking.
- The demand for stainless steel is also expected to grow because increasing demand for corrosion-resistant materials in sectors such as medical devices, food processing, and chemical industries is driving the growth of stainless-steel production.

Which region shows the most promising growth forecast and opportunity?

- Asia-Pacific is expected to remain the largest market for graphite electrodes during the forecast period. China is the largest steel-producing country through the EAF method globally.
- Furthermore, five of the leading players, namely Resonac Corporation (Japan), Fangda Carbon New Material Co. Ltd. (China), Tokai Carbon Co. Ltd. (Japan), Graphite India Limited (India), and HEG Ltd. (India), are based in the Asia-Pacific.

Graphite Electrode Market Drivers:

Some of the key drivers listed in the report are given below.

- GrafTech International Ltd.
- Resonac Corporation (Formerly Showa Denko Materials Co., Ltd.)
- Fangda Carbon New Material Co., Ltd.
- Tokai Carbon Co., Ltd
- Graphite India Limited
- HEG Limited
- Energoprom
- Nippon Carbon Co. Ltd
- Sangraf International
- SEC Carbon, Ltd

Competitive Landscape: Top Companies in the Graphite Electrode Market:

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the Graphite Electrode Market:

• Rising EAF steel production boosts electrode demand.
• Shift toward low-emission steelmaking increases usage.
• Industrial growth drives higher electric arc operations.
• Improved electrode efficiency enhances consumption rates.
• Urbanization accelerates demand for steel-intensive projects.

Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Please write to us at sales@stratviewresearch.com

Click here to know more: https://www.stratviewresearch.com/3670/graphite-electrode-market-for-the-metal-industry.html

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the Graphite Electrode market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.