Graphitic Cathode Block Market Size & Share, by End use (Metallurgical, Battery Manufacturing, Electronics); Application; and Type - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2026-2035

Graphitic Cathode Block Market - Regional Analysis

Asia Pacific Market Insight

The Asia Pacific is expected to lead the world graphitic cathode block market with a 60% market share in 2035, due to fast industrialization, where local crude steel production has increased. According to preliminary figures published by the World Steel Association, the global production of crude steel reached 1,884.6 million tons (MT) in 2024. After declining 0.9% year over year to 1750.9 MT in 2024, the October 2024 estimate predicts that steel demand will increase 1.2% year over year in 2025 to reach 1,771.5 MT. Demand is also driven by aluminum production, which exceeds 50.1 million tons in China alone. Asia Pacific's infrastructure spending was over USD 3.2 trillion in 2023, driving metallurgical progress. Japan, South Korea, and India enable extensive modernization of smelting processes, which creates demand for robust, energy-efficient cathode blocks.

China is expected to remain the largest graphitic cathode block market in the region, capturing around 40.2% of the global market by 2035. The country's metallurgical industry is shifting toward electric arc furnace (EAF) technologies, increasing demand for high-purity cathode blocks that reduce sulfur content and lower carbon emissions. As of 2023, China was the world's leading graphite producer, accounting for approximately 77% of global production. About 15% of the graphite produced in China was amorphous, while around 85% was flake. In October, China announced export restrictions set to take effect on December 1 for certain items, including flake graphite, spherical graphite (both natural and synthetic), expandable graphite, and several synthetic graphite products. China exported 58,000 tons of flake graphite concentrate, a decrease from 81,000 tons exported during the same period in 2022. The main destinations were the Republic of Korea (18%), Japan (17%), India (14%), and the United States (8%). During the same period in 2023, China exported 39,000 tons of natural spherical graphite, down from 45,000 tons in 2022. The primary recipients were the Republic of Korea (56%), the United States (23%), and Japan (19%).

India is expected to hold a 12% graphitic cathode block market share by 2035. A steelmaking capacity of 300.3 million tons with infrastructure investments worth USD 50.1 billion is on the agenda under the National Steel Policy of the Government. Upgradation has fostered very high demand for graphitic cathode blocks for smelters so as to improve efficiency and cut down on energy requirements, and thereby fill India's 15.2% energy intensity gap in metallurgy against world leaders. Besides that, the country's renewable energy integration journey (with a 151-GW installed capacity in 2024) optimization approves smelting to use clean electricity. Some impetus, worth USD 5.2 billion, has been well established by the 2023 Government to encourage high-quality carbon material production domestically, thus cutting down its dependency on imports.

North America Market Insight

North America is expected to hold a 15% share in the global graphitic cathode block market by 2035 due to steady growth witnessed in the aluminum and steel industries. The major level of demand for advanced blocks stems from the modernization of plants under stricter emission norms for energy efficiency. Resilience programs incentivize domestic sourcing of materials critical to the industry, including graphite cathode blocks, such as those under the Buy American Act.

The U.S. is expected to retain 14.3% of the global graphitic cathode block market by 2035. Aluminum smelting is a huge investor in low-carbon technologies. The U.S. synthetic graphite production rose to 319,000 metric tons (t), valued at $1.45 billion in 2022. This compares to 259,000 t, valued at $1.16 billion in 2021. The U.S. exports (limited to natural graphite) and imports of natural graphite were 9,500 and 89,200 t. This information represented an increase in exports of 10% and imports of 68% from those in 2021. U.S. exports and imports of synthetic graphite were 38,700 and 151,000 t, respectively. U.S. apparent consumption of synthetic graphite and natural graphite was 431,000 and 79,700 t, respectively. World production of natural graphite was estimated to be 1.68 million metric tons (Mt). Additionally, EAF production is growing rapidly, requiring high-quality graphitic cathode blocks to improve operational efficiency and emission reductions.

Canada is expected to grab a share of 7.8% of the worldwide graphitic cathode block market by 2035, due to the tremendous strategic implications since the country is a major producer of aluminum, producing more than 3.4 million tons annually, at 61% of the global total, with aluminum production from hydroelectric sources being the largest. An amount of USD 200.2 million is spent by the government on programs providing support for green manufacturing and innovation in metallurgy. The investment in improved cathode blocks should increase smelting energy efficiency by 11-17% to help Canada achieve the reduction in carbon emissions envisaged by the Pan-Canadian Framework on Clean Growth and Climate Change.

Europe Market Insight

Europe is expected to hold approximately 11% market share of the global graphite cathode block market by 2035, and this reflects the commitment to decarbonization and sustainable industrial processes. There were almost 140.2 million tons of steel estimated to be produced in Europe in 2023, with more than 61% coming from steelmaking processes involving the use of graphitic cathode blocks, chiefly an electric arc furnace. Aluminum production is also undergoing modernization to suit the EU Green Deal targets, estimated at USD 50.2 billion. Governments in the region fund programs worth over USD 5.1 billion every year in promoting circular economy principles and carbon emission reductions in metallurgy.

Trade of Natural Graphite in Powder or in Flakes in 2023

Source: WITS

Germany is expected to hold the highest share of Europe’s graphitic cathode block market, almost 30.2% of the market share in the region. During 2023, Germany produced 40.2 million tons of crude steel. At the same time, low-carbon steel initiatives are being fast-tracked with USD 1.2 billion towards government grants for hydrogen steelmaking and modernization of cathode technology. The National Hydrogen Strategy of Germany sets out the target of reducing emissions from steel by 50.2% by 2030, which is expected to increase the commercialization of carbon additives that bolster furnace efficiency and durability.

France is expected to hold approximately 15.3% graphitic cathode block market share in Europe, the steel and chemical industries being the primary drivers behind this. The SNBC supports carbon mitigation production processes, with USD 810 million allocated to carbon materials R&D. The French metallurgical sector uses graphitic cathode blocks for energy savings in the order of 10 to 12.3% and for sulfur emission reductions of about 8%, both values being in line with stringent environmental norms imposed by the European Union. Public-private partnerships further accelerate the pace of innovation, which in turn makes France a very important center for sustainable cathode block demand.