Graphite Electrode for Electric Arc Furnace Steel Market Revenue was valued at USD 4.5 Billion in 2024 and is estimated to reach USD 7.8 Billion by 2033, growing at a CAGR of 6.5% from 2026 to 2033.
In 2023, the global Graphite Electrode for Electric Arc Furnace Steel Market was valued at approximately USD 9.8 billion and is projected to reach USD 15.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period. The Asia Pacific region dominated the market, contributing around 45% of the total revenue, driven by increased steel production, particularly in China and India. North America followed with approximately 25%, Europe at 20%, and the remaining 10% was split among Latin America, and the Middle East & Africa. The growing adoption of Electric Arc Furnace (EAF) technology in steel production is a significant driver for the graphite electrode market. EAF technology accounted for approximately 42.5% of global steelmaking capacity in 2024, with projections indicating it needs to comprise 53% by 2050 to achieve net zero emissions. This shift towards EAF steelmaking is expected to create substantial opportunities for graphite electrode manufacturers, especially in regions emphasizing sustainable steel production methods.
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Showa Denko K.K
Fangda Carbon New Material Co.
Ltd.
GrafTech International
Graphite India Limited (GIL)
HEG Limited
Tokai Carbon
SEC Carbon
Ltd
Energoprom Group
Jilin Carbon Company Limited
Kaifeng Pingmei New Carbon Materials Technology Co.
Ltd
Nantong Yangzi Carbon Co.
.Ltd.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Graphite Electrode for Electric Arc Furnace Steel Market
Regular Power Graphite Electrodes
High Power Graphite Electrodes
Ultra High Power Graphite Electrodes
Steel Manufacturing
Foundries
Metal Recycling
Others
Pitch-Based Graphite Electrodes
Petroleum-Based Graphite Electrodes
Other Variants
Less than 200 mm
200 mm to 400 mm
Above 400 mm
Secondary Steelmaking
Mini Mills
Casting and Furnace Processes
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Graphite Electrode for Electric Arc Furnace Steel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Graphite Electrode for Electric Arc Furnace Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Graphite Electrode for Electric Arc Furnace Steel Market, By Type
6. Global Graphite Electrode for Electric Arc Furnace Steel Market, By Application
7. Global Graphite Electrode for Electric Arc Furnace Steel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Graphite Electrode for Electric Arc Furnace Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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