2021 Global Graphite Electrode Market Forecast

2021 Global Graphite Electrode Market Forecast

The market value of graphite electrodes in 2020 is US$4.4314.9 billion, and the compound annual growth rate of this market is expected to exceed 6.5% during the forecast period (2021-2026). The main raw material used to produce graphite electrodes is needle coke (petroleum-based or coal-based).

Due to the impact of COVID-19 in the first half of 2020, the global steel industry is in a catastrophic situation, far worse than anything experienced since the beginning of this century, and it has had a serious impact on domestic steel manufacturers. According to data from the World Steel Association, global steel production fell by 6% in the first half of 2020 to nearly 877 million tons. With the decline in steel production, the demand for graphite electrodes will be significantly affected in 2020.