China UHP graphite electrode market scale and production & sales analysis in 2023

Ⅰ. UHP graphite electrode market scale

From 2017 to 2018, China ultra-high power (UHP) graphite electrode sales income increased significantly, mainly due to the soaring price of UHP graphite electrode in China. In 2019 and 2020, global graphite electrodes sales income declined significantly due to UHP graphite electrode price decline and COVID-19. Looking forward, UHP graphite electrode sales revenue in China is expected to grow at a compound annual growth rate of 22.5% from 2021 to 2025, reaching 4.914 billion yuan in 2023, due to the global UHP graphite electrode price recovery and downstream demand for electric arc furnace (EAF) steel. 

Data source: Frost Sullivan, China Business Industry Research Institute

Ⅱ. UHP graphite electrode production and sales data

Since 2017, due to the gradual elimination of backward production capacity in China's steel market, the EAF steelmaking proportion has become higher and higher. At the same time, the number of high-end electric arc furnaces used by steel manufacturers has increased, increasing the demand for UHP graphite electrodes. By 2021, China's UHP graphite electrode production and consumption have reached 107000 tons and 88000 tons respectively, and are expected to continue to grow in the future. In 2023, China's UHP graphite electrode production and consumption will reach 189300 tons and 159700 tons respectively. As Chinese manufacturers continue to increase production capacity, graphite electrodes production is expected to grow rapidly. In order to meet the demand for graphite electrode outside China,  it is expected that more and more manufacturers in China will actively expand production capacity and increase the production of UHP graphite electrode. UHP graphite electrode market reports, follow us for more information.

Data source: Frost Sullivan, China Business Industry Research Institute