Forecast Analysis of China ' s High Quality UHP Graphite Electrode Market Data in 2023

Graphite electrode is a high temperature resistant graphite conductive material. High quality ultra-high power graphite electrodes are mainly used in high capacity electric arc furnaces and special steel arc furnaces. In China, high quality ultra-high power graphite electrodes refer to graphite electrodes that meet the standards of ultra-high power graphite electrodes in the global market.

Since 2017, the demand for high quality ultra-high power graphite electrodes has grown due to the gradual capacity recovery in the Chinese steel market and the increasing share of electric arc furnace steelmaking , as well as the increase in the use of high-end electric arc furnaces by steel manufacturers. According to the data, the production and consumption of high quality ultra-high power graphite electrodes in China will reach 107,000 tons and 88,500 tons respectively in 2021. Graphite electrode production is expected to soar in the future as Chinese manufacturers continue to add graphite electrode capacity. The production and consumption of high quality ultra-high power graphite electrodes in China are expected to reach 137,300 tons and 114,500 tons respectively in 2023.

There is a shortage of graphite electrodes outside China, most of the electric arc furnace steel manufacturers outside China will use Chinese UHP graphite electrodes and high quality UHP graphite electrodes. Data show that China's exports of high-quality ultra-high-power graphite electrodes reached 18,400 tons in 2021.To meet the demand for graphite electrodes outside China, more and more Chinese manufacturers are expected to aggressively expand their production capacity and increase the production of high-quality ultra-high power graphite electrodes. China's exports of high-quality ultra-high-power graphite electrodes are expected to reach 35,300 tons in 2023.

Data source: Frost & Sullivan, China Business Industry Research Institute