Global graphite electrode billets market size was valued at USD 6.2 billion in 2024. The market is projected to grow from USD 6.5 billion in 2025 to USD 8.3 billion by 2032, exhibiting a CAGR of 3.5% during the forecast period. This growth is primarily driven by increasing demand from the steel industry, where graphite electrodes are essential for electric arc furnace steel production.