The Graphite Electrode Market has witnessed significant growth in recent years. Here are some key points:
1. Market Size and Growth
– The global graphite electrode market was valued at USD 8,791.65 million in 2021 and is projected to register a CAGR of 4.6% in terms of revenue during the forecast period (2022-2027).
– Other estimates suggest that the market size reached USD 6.6 billion in 2023 and is expected to reach USD 10.5 billion by 2032, growing at a CAGR of 5.2%.
2. Market Trends
– The strong growth in steel production in emerging countries and the rising availability of steel scrap in China are expected to drive market growth.
– Soaring prices for needle coke (used in electrode production) may hinder growth.
– The rising production of steel through EAF technology in China presents an opportunity for the market.
– The Asia-Pacific region, especially China, is expected to dominate the market due to strong demand.
