Steel Sector Paves the Way for Graphite Electrode’s Prominent Growth

DUBLIN, Sept. 8, 2023 /PRNewswire/ — The “Graphite Electrode Market: Trends, Opportunities and Competitive Analysis 2023-2028” report has been added to’s offering.


The graphite electrode market is poised for growth, expecting to reach $10.5 billion by 2028. It will grow at a CAGR of 6.5% from 2023 to 2028. Major opportunities lie in steel, silicon metal, and aluminum sectors.

Key Market Drivers:

  • A surge in demand for anti-corrosion products within the oil and gas sector.
  • A consistent increase in the need for steel across various industries including construction, automotive, and aerospace.

Noteworthy Insights:

  • Ultra-High Power (UHP) graphite electrodes are projected to witness rapid growth due to their exceptional strength and thermal resistance attributes.
  • Steel will retain its prominence as the primary application sector, driven by its escalating consumption across diverse industries.
  • The Asia Pacific region, backed by manufacturing giants China and India, will continue to be the market leader. Presence of key market players further consolidates the region’s dominance.

Report Breakdown:

By Product Type:

  • Ultra-High Power (UHP)
  • High Power
  • Regular Power

By Application:

  • Steel
  • Silicon Metal
  • Aluminum

By Geographic Region:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Competitive Outlook:

Key market participants include Showa Denko, GRAFTech, Graphite India Limited (GIL), HEG, and Tokai Carbon. Their competitive edge revolves around product quality. Their growth and sustenance strategies encompass:

  • Expansion of manufacturing capacities.
  • Robust R&D investments.
  • Infrastructure development.
  • Streamlined integration across the value chain.

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rt Steel Sector Paves the Way for Graphite Electrode's Prominent Growth

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