Graphite Electrode Market Report 2026

The graphite electrode market size has grown strongly in recent years. It will grow from $8.99 billion in 2025 to $9.68 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rising steel production using electric arc furnaces, growing demand from automotive and construction sectors, increasing consumption in non-ferrous metals production, rising need for high-quality electrodes in smelting processes, expansion of silicon metal and ferroalloy manufacturing.

The graphite electrode market size is expected to see strong growth in the next few years. It will grow to $13.16 billion in 2030 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to growing demand from lithium ion battery manufacturing, increasing adoption in sustainable and low-carbon steel production, rising focus on energy-efficient graphite electrodes, expanding application in aerospace and defense industries, increasing investment in high-quality uhp and shp electrodes. Major trends in the forecast period include rising demand for ultra high power graphite electrodes, increasing adoption of graphite electrodes in eaf steel manufacturing, growing focus on energy-efficient and low-emission electrode production, rising use of graphite electrodes in lithium ion battery production, increasing investment in advanced graphite electrode manufacturing technologies.

The anticipated growth in the graphite electrodes market is attributed to the increasing demand for high-quality steel. High-quality steel, characterized by strict adherence to composition, physical properties, and performance standards, is produced through meticulous selection of raw materials and advanced manufacturing processes that eliminate impurities. Graphite electrodes play a vital role in electric arc furnaces (EAFs) employed in steel production, particularly for specialty and high-quality steels. As per the World Steel Association's forecast in April 2023, steel demand is expected to rebound by 2.3% in 2023, reaching a total of 1.82 billion metric tons (Mt). The projection for 2024 indicates further growth of 1.7%, with a total of 1.85 billion metric tons (Mt). Consequently, the growing demand for high-quality steel is a driving force behind the graphite electrodes market's expansion.

Major players in the graphite electrodes market are also focusing on developing cutting-edge solutions such as stereo electroencephalography (sEEG) electrodes. These specialized electrodes are utilized in stereo electroencephalography procedures, a neurosurgical technique involving the placement of depth electrodes in specific brain regions to record electrical activity. NeuroOne Medical Technologies Corporation, a US-based medical device company, launched the Evo sEEG electrode product line in May 2023. This technology provides comprehensive solutions for stereo electroencephalography recording and brain stimulation, with potential applications in spinal cord stimulation and ablation. These advancements cater to patients dealing with epilepsy, chronic back pain, and Parkinson's disease.

In October 2023, TMS International Corporation, an industrial and environmental services company based in the US, teamed up with Nippon Carbon Company Limited to become the exclusive distributor of graphite electrodes in North America. This collaboration is designed to expand TMS's product range and enhance its position in the graphite electrode market by providing high-performance graphite electrodes for electric arc furnace steelmaking. Nippon Carbon Company Limited, based in Japan, is a manufacturer of graphite electrodes and specialty carbon products.

Major companies operating in the graphite electrode market report are Resonac Holdings Corporation, IBIDEN Co. Ltd., Tokai Carbon Co. Ltd., GrafTech International Holdings Inc., SGL Carbon SE, Mersen SA, Fangda Carbon New Material Co. Ltd., Graphite India Limited, HEG Limited, Nippon Carbon Co. Ltd., SEC Carbon Ltd., Kaifeng Carbon Co. Ltd., Nantong Yangzi Carbon Co. Ltd., Ukrainskiy Grafit, Kaifeng Pingmei New Carbon Materials Technology Co. Ltd., Jilin Carbon Co. Ltd., Liaoning Dantan Technology Group Co. Ltd., Fangda Carbon Group, Henan Sanli Carbon Co. Ltd., Shandong Hisea Carbon Co. Ltd.

Asia-Pacific was the largest region in the graphite electrodes market in 2025 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the graphite electrode market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the graphite electrode market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The graphite electrodes market consists of sales of electrode carbon paste, electrode holders, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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