Graphite Electrode Global Market Report 2026

A graphite electrode is a form of electrode crafted from graphite, a variant of carbon. It finds application in diverse industrial settings, with a primary focus on electric arc furnaces (EAFs) utilized in the steelmaking process. These electrodes are specifically designed to conduct electricity and generate elevated levels of heat through an electric arc. The purpose is to melt raw materials, facilitating the production of steel and other metals.

Graphite electrodes are categorized into three main grades ultra-high power (UHP), high power (SHP), and regular power (RP). Among these, ultra-high power (UHP) graphite electrodes exhibit the highest electrical conductivity, thermal resistance, and mechanical strength. Their manufacturing involves the use of high-quality raw materials and advanced processing techniques. UHP electrodes are predominantly employed in high-power applications, notably in electric arc furnaces (EAFs) for steelmaking and specialized industrial processes that demand high melting rates, intense heat generation, and high current densities. The applications of UHP graphite electrodes span various industries, including steel manufacturing, silicon metal manufacturing, steel refining, smelting processes, ferroalloy production, non-ferrous metals production, lithium-ion battery production, and more. These industries encompass automotive, appliances, construction, machinery, transportation, aerospace and defense, oil and refinery, among others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the graphite electrode market by increasing the cost of cross-border trade in graphite electrodes and critical raw materials such as needle coke, leading to higher production costs and pricing pressure. The effects are most significant in UHP and HP electrode segments and in regions such as asia-pacific, europe, and north america, which are major steel and electrode production hubs. Tariffs have disrupted supply chains and influenced procurement strategies for steel manufacturers. However, they have also encouraged local manufacturing investments, regional self-sufficiency, and long-term supply agreements, supporting market stability over time.

The graphite electrode market research report is one of a series of new reports from The Business Research Company that provides graphite electrode market statistics, including graphite electrode industry global market size, regional shares, competitors with a graphite electrode market share, detailed graphite electrode market segments, market trends and opportunities, and any further data you may need to thrive in the graphite electrode industry. This graphite electrode market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 8.0%. 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 1,822.3 million metric tons (Mt). The projection for 2024 indicates further growth of 1.7%, with a total of 1,854.0 million 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.

Graphite Electrode Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses graphite electrode market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for graphite electrode ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The graphite electrode market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Electrode Grade: Ultra High Power (UHP); High Power (SHP); Regular Power (RP)
• 2) By Electrode Diameter And Size: Small Diameter; Medium Diameter; Large Diameter; Extra-Large Diameter
• 3) By Application: Steel Manufacturing; Silicon Metal Manufacturing; Steel Refining; Smelting Processes; Ferroalloy Production
• Subsegments:
• 1) By Ultra High Power (UHP): UHP For Electric Arc Furnaces (EAF); UHP For Other Applications
• 2) By High Power (HP): HP For EAF; HP For Other Applications
• 3) By Regular Power (RP): RP For EAF; RP For Other Applications
• Companies Mentioned: 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.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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