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Graphite Electrodes Market (2021-2027) Growth, Trends COVID-19 Impact Graphite Electrodess are large cylindrical structures made up of petroleum needle coke and coal tar pitch and is mainly used in an electric arc furnace. It is used to refine steel in ladle furnaces and in other smelting processes. It provides a high level of electrical conductivity and the capability of sustaining extremely high levels of generated heat. The rising demand for steel and the rising use of graphite in the production of lithium-ion batteries are the major factors driving the growth of the Graphite Electrodes market. The oil and gas sector has further enhanced the use of electric arc furnaces (EAF) because of the increasing requirement for anti-corrosive products for oil & petroleum wells and pipelines. China dominates the market in terms of consumption and production capacity of Graphite Electrodess in the global scenario.