Graphite Electrode Market Size to Surpass at USD 16.68 Billion by 2033
YahooFinance – 14 Oct 2025
According to the SNS Insider,“The Graphite Electrode Market size was valued at USD 11.60 Billion in 2025E and is projected to reach USD 16.68 Billion by 2033, growing at a CAGR of 4.65% during 2026–2033.”
Rising Demand for Nuclear-Grade Graphite Propel Market Growth Globally
The growing use of sophisticated nuclear reactors, such as compact modular reactors and high-temperature gas-cooled reactors, is propelling the demand for nuclear-grade graphite. Market expansion is being driven by a growing emphasis on clean energy, dependable supply chains, and the requirement for premium synthetic graphite in reactor cores to guarantee performance, safety, and efficiency. The growing need for nuclear-grade graphite in energy, industrial, and advanced manufacturing applications is also being supported by investments in research and development, technological breakthroughs, and production capacity expansion, making it an essential part of the developing clean energy infrastructure.
Market Size in 2025E
USD 11.60 Billion
Market Size by 2033
USD 16.68 Billion
CAGR
CAGR of 4.65% From 2026 to 2033
Ultra High Power (UHP) graphite electrodes have dominated the market with a share of 56.88% and is expected to grow with the fastest CAGR of 6.99%, driven by rising demand for high-performance electrodes in electric arc furnace steelmaking.
EAF steelmaking has led the market with a share of 68.88% in 2025E and is also fastest-growing application segment growing with a CAGR of 5.61% during the forecast period, driven by increasing adoption of electric arc furnace technology in steel production.
The above 500 mm segment held the dominant share of 52.50% in 2025E and is expected to expand with the fastest CAGR of 6.40% during the forecast period. The segment’s growth is propelled by the large-scale steel production due to their high current-carrying capacity, durability, and efficiency, meeting rising industrial demand.
Needle Coke held the largest graphite electrode market share of 62.25% in 2025E and is also projected to be the fastest growing segment at a CAGR of 6.05% during the forecast period. The segment’s expansion is driven by their superior density, electrical conductivity, and performance in high-power applications, driving widespread adoption in steel manufacturing.
The Asia-Pacific region leads the graphite electrode market with a share of 44.05% in 2025E, supported by strong steel manufacturing activity and rapid industrial growth in countries like China, India, and Japan.
The North America graphite electrode market is the fastest-growing region at a CAGR of 6.27%, owing to the strong adoption of electric arc furnace (EAF) technology, rising steel recycling, and increasing demand for high-quality electrodes.
In July 2024, Tokai Carbon announced that it will reduce graphite electrode production capacity in Japan and Europe from 56,000 tons to 32,000 tons by July 2025, consolidating operations at the Hofu Plant and temporarily closing the Shiga Plant to optimize efficiency amid declining global steel demand.
In July 2025, HEG and Graphite India shares surged up to 13% after Resonac Holdings announced the closure of its graphite electrode units in China and Malaysia, tightening global supply and boosting market optimism for Indian producers.