Top 50 Companies in Graphite Electrode Market Worldwide 2025: Statistical View by Spherical Insights and Consulting
RELEASE DATE: Sep 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Graphite Electrode Market Size is projected To Grow from USD 5.80 Billion in 2024 to USD 10.34 Billion by 2035, at a CAGR of 5.4% during the forecast period 2025–2035. The market for graphite electrodes is expanding with increasing steel production through electric arc furnaces, elevated recycling needs, environmental compliance supporting cleaner production processes, and a growing infrastructure and automotive industries across the world.
Introduction
The Market Size or Graphite Electrodes refers to the business engaged in the manufacture and supply of graphite electrodes, cylindrical conductive products mainly used in electric arc furnaces (EAF) for making steel. These electrodes are necessary to produce the high temperature electric arcs that melt scrap steel, and thus are critical to the steel recycling process. In addition to steelmaking, graphite electrodes find applications in ferroalloy manufacturing and smelting operations. Market expansion is led by increasing world steel demand, especially in the construction, automotive, and infrastructure industries, combined with the transition toward EAF technology owing to its less environmentally destructive nature compared to conventional blast furnaces. The market's main strengths are the recyclability, thermal resistance, and electrical conductivity of graphite electrodes. Opportunities are presented through technological innovations, the higher rate of electric vehicle (EV) adoption, and the developing economy growth. In addition, governments around the globe are stimulating cleaner steel production through government policies and incentives supporting sustainable production, further increasing demand for EAFs and, in turn, graphite electrodes, ensuring the market is robust and set for extended expansion.
Navigate Future Markets with Confidence: Insights from Spherical Insights LLP
The insights presented in this blog are derived from comprehensive market research conducted by Spherical Insights LLP, a trusted advisory partner to leading global enterprises. Backed by in-depth data analysis, expert forecasting, and industry-specific intelligence, our reports empower decision-makers to identify strategic growth opportunities in fast-evolving sectors. Clients seeking detailed market segmentation, competitive landscapes, regional outlooks, and future investment trends will find immense value in the full report. By leveraging our research, businesses can make informed decisions, gain a competitive edge, and stay ahead in the transition toward sustainable and profitable solutions.
Unlock exclusive market insights - Download the Brochure now and dive deeper into the future of the Graphite Electrode Market.
Graphite Electrode Market Size & Statistics
- The Market Size for Graphite Electrode Was Estimated to be worth USD 5.80 Billion in 2024.
- The Market is Going to Expand at a CAGR of 5.4% between 2025 and 2035.
- The Global Graphite Electrode Market Size is anticipated to reach USD 10.34 Billion by 2035.
- Asia Pacific is expected to generate the largest demand during the forecast period in the Graphite Electrode Market
- North America is expected to grow the fastest during the forecast period in the Graphite Electrode Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the graphite electrode market. North America is the most rapidly expanding market for the polyurethane potting compound industry due to increasing electric vehicle adoption, innovations in aerospace and defense electronics, and surging demand for efficient, lasting electronic components. Strict regulatory requirements also contribute to the demand for trustworthy protective materials.
Asia Pacific is expected to generate the largest demand during the forecast period in the graphite electrode market. Asia Pacific is the dominant market for graphite electrodes. This is largely attributed to the high-scale steel production in China and India, heavily dependent on electric arc furnaces. Infrastructure projects and urbanization are among the rapidly growing industries in the region. Also, the positive policies from the government and the increased recycling amount further push the graphite electrodes to be the largest consumer globally.
Top 10 trends in the Graphite Electrode Market
- Demand from EV and infrastructure
- Rising global steel demand
- Environmental regulations and clean energy policies
- Expansion of steel recycling
- Increased adoption of electric arc furnaces
- shift toward ultra-high power electrodes
- Technological advancements in electrode manufacturing
- Volatility in raw material prices
- Increased demand from emerging economies
- Graphitization process optimization
1. Demand from EV and infrastructure
There is growing demand for graphite electrodes due to the booming EV industry, in that graphite is needed for lithium-ion battery anodes, and the development of charging infrastructure relies on electricity, which usually means using infrastructure involving graphite electrodes in its production processes, especially in electric arc furnaces for steel.
2. Rising global steel demand
Increased world steel demand drives the use of graphite electrodes as electric arc furnaces (EAFs) need such conductive electrodes to efficiently melt scrap metal for green steel production. Increased infrastructure and urbanization drive steel consumption, which deepens the demand for electrodes, particularly ultra-high power (UHP) ones, to facilitate this widening, greener steelmaking procedure.
3. Environmental regulations and clean energy policies
Environmental policies drive the demand for graphite in EVs, generating market expansion for the essential mineral and promoting recycling to control supply chain risk and pollution. Clean energy policies drive the transition faster, connecting graphite's value directly to world carbon neutrality targets and making it a necessity for sustainable material design.
4. Expansion of steel recycling
Growing steel recycling fuels graphite electrode demand as EAFs efficiently melt scrap metal. The electrodes play a key role in the circular economy by supporting sustainable steel production through withstanding high temperatures in electric arc furnaces to melt recycled steel.
5. Increased adoption of electric arc furnaces
Growing electric arc furnace (EAF) usage, spurred by sustainability and steel recycling, drives graphite electrode demand directly. The electrodes are used in EAFs to carry the electricity necessary to produce the intense heat required to melt scrounged steel and are a vital component of the efficient and environmentally friendly modern steelmaking process.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the graphite electrode market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 20 Companies Leading the Graphite Electrode Market
- GrafTech International
- Tokai Carbon Co., Ltd.
- Showa Denko
- Fangda Carbon New Material
- HEG Limited
- SEC Carbon, Ltd.
- Dan Carbon
- EPM Group
- SGL Carbon SE
- Graphite India Limited
- Resonac Holdings Corporation
- Asbury Carbons
- Nippon Carbon
- Yangzi Carbon Co., Ltd
- Imerys
- Zhongze Group
- Nantong Yangzi Carbon Co.
- Handan Carbon Co., Ltd
- Sangraf International
- Kaifeng Carbon Co., Ltd.
1. GrafTech International
Headquarters: Brooklyn Heights, Ohio, USA
GrafTech International is a premier producer of graphite electrodes, fundamental items in electric arc furnace (EAF) steel manufacturing. The electrodes carry electricity that produces the high temperatures necessary to melt scrap steel. GrafTech has command over critical segments of its supply base, such as petroleum needle coke production, a vital raw material. With customers worldwide, the company is a crucial component in ensuring sustainable steelmaking, which enables lower emissions than traditional blast furnace practices.
2. Tokai Carbon Co., Ltd.
Headquarters: Tokyo, Japan
Tokai Carbon Co., Ltd. is a leading global supplier of carbon products such as graphite electrodes for electric arc furnace (EAF) steelmaking. The electrodes play a vital role in transmitting high-temperature electric currents to melt scrap steel effectively. Tokai Carbon has different grades of graphite electrodes and maintains production plants across the globe. Through enabling EAF steel production, the company promotes economical and sustainable steelmaking, in line with worldwide initiatives for industrial carbon emission reduction.
3. Showa Denko K.K.
Headquarters: Tokyo, Japan
Showa Denko K.K. is a leading manufacturer of graphite electrodes for electric arc furnace (EAF) steelmaking. They are crucial for directing high temperature electric currents to melt scrap steel, facilitating more sustainable steel production. Showa Denko became a top global graphite electrode supplier after acquiring SGL Carbon's electrode business. The company produces a vast variety of sizes and types of electrodes to supply to global markets and facilitate lower-emission, economical steelmaking processes.
4. Fangda Carbon New Material
Headquarters: Lanzhou, Gansu Province, China
Fangda Carbon New Material Co., Ltd. is China's largest graphite electrode producer and an industry leader in the global market. Fangda Carbon manufactures a complete series of graphite electrodes, such as ultra-high power (UHP), high power (HP), and normal power (RP) types, which are mainly applied in electric arc furnace (EAF) steelmaking. Through supporting EAF operations, Fangda Carbon promotes more economical and sustainable steel making processes both domestically and worldwide.
5. HEG Limited
Headquarters: Noida, Uttar Pradesh, India
HEG Limited, the world's leading single location producer of graphite electrodes and one of the largest in the world. HEG manufactures premium ultra-high power (UHP) graphite electrodes used mainly for electric arc furnace (EAF) steelmaking. HEG is vertically integrated with needle coke sourcing and captive power generation, providing uninterrupted quality and efficiency. Supplying key components for EAFs, HEG enables sustainable steel production and services customers in over 30 countries.
Are you ready to discover more about the graphite electrode market?
The report provides an in-depth analysis of the leading companies operating in the global graphite electrode market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- GrafTech International
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Tokai Carbon Co., Ltd.
- Showa Denko
- Fangda Carbon New Material
- HEG Limited
- SEC Carbon, Ltd.
- Dan Carbon
- EPM Group
- SGL Carbon SE
- Others.
Conclusion
The Graphite Electrode Market Size, driven by rising global steel demand and the shift to electric arc furnace (EAF) technology, promotes sustainable steelmaking by providing efficient melting of scrap. Major players such as GrafTech, Tokai Carbon, Showa Denko, Fangda Carbon, and HEG provide the required electrodes for the production of steel through EAF. Industry demand from the EV sector, expansion of infrastructure, environmental protection regulations, and steel recycling drive growth. These drivers, combined with government initiatives encouraging clean energy, guarantee strong market growth and a cleaner steel industry globally.
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?