【Electrode】Growth Rate 5.2%! Trend Analysis of the Carbon Electrode Market
in the Middle East and North Africa

The demand for carbon electrodes in the Middle East and North Africa (MENA) is steadily increasing, and consumption is expected to show a positive trend over the next decade. Market performance is predicted to slightly slow down, with a compound annual growth rate (CAGR) of over 1.4% in volume and over 5.2% in value between 2024 and 2035. By the end of 2035, the market size is projected to reach 644,000 tons in nominal terms, valued at USD 1.3 billion.

Market Forecast

Driven by the growing demand for carbon electrodes in the MENA region, market consumption is expected to continue rising over the next decade. Market growth is expected to moderate, with a CAGR of 1.4% in volume between 2024 and 2035, reaching 644,000 tons by 2035. In terms of value, the market is projected to grow at a CAGR of 5.2%, reaching USD 1.3 billion (based on nominal wholesale prices) by 2035.

Consumption

Carbon Electrode Consumption in MENA

In 2024, carbon electrode consumption rebounded to 554,000 tons, marking the first growth since 2021 and ending a two-year decline. Overall, consumption shows a moderate upward trend. Consumption peaked at 725,000 tons in 2021, but remained relatively low from 2022 to 2024. In 2024, MENA carbon electrode market revenue contracted to USD 724 million, down 12.3% from the previous year, reflecting total revenue for producers and importers (excluding logistics, retail, and marketing costs, which are included in the final consumer price). Over the period covered, consumption remained relatively stable, far from the peak of USD 1.9 billion.

Consumption by Country

The United Arab Emirates (UAE) consumed the most carbon electrodes at 213,000 tons, accounting for 38% of total consumption, three times that of the second-largest consumer, Turkey (85,000 tons). Egypt (59,000 tons) ranked third with an 11% share. From 2013 to 2024, the UAE's carbon electrode consumption grew at an annual average rate of 8.5%. Other countries' annual average consumption growth rates were: Turkey 1.2% and Egypt 1.5%.
In value terms, the UAE led with USD 275 million, followed by Turkey (USD 110 million) and Egypt. From 2013 to 2024, the UAE's value CAGR was 4.9%, while Turkey and Egypt showed negative growth (-2.3% and -1.9% per year, respectively). In 2024, per capita consumption was highest in Bahrain (23 kg/person), UAE (21 kg/person), and Israel (2.2 kg/person). Bahrain's growth was the most significant, with a CAGR of 31.2%, while other major consumers grew more moderately.

Production
Carbon Electrode Production in MENA

After three years of growth, carbon electrode production fell 4.9% to 140,000 tons in 2024. From 2013 to 2024, total production grew at a CAGR of 2.3%, though there were noticeable fluctuations. Growth peaked in 2019 at 16%. Production reached 147,000 tons in 2023 before declining the following year.
In value terms, estimated at export prices, production surged to USD 639 million in 2024, though the overall trend was strong. The largest increase occurred in 2023 (124%). Production peaked at USD 906 million in 2021 but remained lower from 2022 to 2024.

Production by Country

In 2024, Turkey (45,000 tons), Egypt (43,000 tons), and Israel (21,000 tons) produced the most, accounting for 78% of total production. From 2013 to 2024, Egypt's production growth was most notable (CAGR 2.7%), with other major producers growing more moderately.

Imports
Carbon Electrode Imports in MENA

In 2024, after two years of decline, overseas procurement rebounded to 426,000 tons. Overall, imports showed moderate growth. In 2020, imports grew most rapidly at 89%. Imports peaked at 623,000 tons in 2021 but remained lower from 2022 to 2024.
In value terms, imports surged to USD 1 billion in 2024. Moderate growth continued over the period, with the largest increase in 2018 (190%), reaching a peak of USD 2.1 billion. From 2019 to 2024, import growth remained subdued.

Imports by Country

The UAE was the largest importer in 2024 at 216,000 tons (≈51% of total imports), followed by Iran (58,000 tons), Bahrain (43,000 tons), and Turkey (42,000 tons), totaling 34% of imports. Egypt (16,000 tons), Saudi Arabia (13,000 tons), and Oman (11,000 tons) lagged behind.
From 2013 to 2024, the UAE's import CAGR was 7.7%; Bahrain (34.8%) and Oman (7.1%) also showed positive growth. Bahrain was the fastest-growing importer (CAGR 34.8%), while Turkey was relatively stable. In contrast, Egypt (-1.1%), Iran (-1.2%), and Saudi Arabia (-5.9%) declined. The UAE (+16 pp) and Bahrain (+9.5 pp) increased their import share significantly, while Egypt (-2.9 pp), Turkey (-5.3 pp), Saudi Arabia (-6.3 pp), and Iran (-10.6 pp) declined. Other countries remained stable.
In value terms, the UAE led with USD 348 million (34%), Turkey third with 13%, and Iran second with USD 140 million (14%). From 2013 to 2024, UAE imports grew at 11.1% CAGR; Iran and Turkey showed -7.1% and -2.8% CAGR, respectively.

Imports by Type

Non-furnace carbon electrodes were the dominant type, at 314,000 tons (≈74% of imports) in 2024, followed by furnace carbon electrodes (112,000 tons, 26%). Non-furnace electrodes also grew fastest (CAGR 11.6% from 2013–2024), while furnace electrodes declined (-4.2%). Non-furnace share increased (+39 pp), furnace share decreased (-39.2 pp).
Value-wise, non-furnace imported USD 521 million, furnace USD 490 million, with non-furnace showing the highest CAGR (15.4%).

Import Prices by Type

In 2024, the MENA import price was USD 2,374/ton, down 8% year-on-year. The price peaked at USD 4,454/ton in 2018 (+73%), but did not recover from 2019–2024. Furnace electrodes were highest-priced (USD 4,386/ton), non-furnace at USD 1,658/ton.

Import Prices by Country

The highest import price was Saudi Arabia (USD 6,649/ton), the lowest UAE (USD 1,614/ton). From 2013–2024, the fastest price growth was Saudi Arabia (+10.4%), others grew moderately.

Exports
Carbon Electrode Exports in MENA

Exports surged to 11,000 tons in 2024 (+34% YoY) but remained relatively stable overall. Peak growth occurred in 2017 (+139%). Exports peaked at 27,000 tons in 2022; 2023–2024 remained low. Value fell to USD 37 million in 2024, with peak at USD 138 million in 2018 (+96%). 2019–2024 growth remained subdued.

Exports by Country

Top exporters: Saudi Arabia (4,700 tons), UAE (3,200 tons), Turkey (2,400 tons), totaling 92% of exports. Iraq (311 tons) and Israel (230 tons) were minor. Iraq had the highest export CAGR (108.9%) 2013–2024; others moderate.
Value-wise: UAE USD 21 million (58%), Turkey USD 9.5 million (26%), Israel 8.7%. UAE exports declined at -5.4% CAGR, Turkey +7.2%, Israel +0.8%.

Exports by Type

Furnace carbon electrodes dominated: 11,000 tons (≈98%), non-furnace 266 tons. Furnace electrodes showed stable trends, non-furnace declined (-4.9%). Furnace share rose +1.5 pp. Value-wise: furnace USD 29 million (79%), non-furnace USD 7.7 million (21%). Furnace exports declined at -3.6% CAGR.

Export Prices by Type

In 2024, average export price USD 3,270/ton (-34.6% YoY). Non-furnace highest-priced USD 28,814/ton, furnace USD 2,649/ton. Non-furnace CAGR +12.3% 2013–2024.

Export Prices by Country

Highest export price: Israel USD 13,830/ton; lowest Saudi Arabia USD 142/ton. UAE CAGR +4.2%, others moderate.

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