The import of carbon and graphite furnace electrodes to Norway is projected to decline from 7.1316 million kilograms in 2024 to 6.599 million kilograms by 2028. Compared to 2023's value of 7.27 million kilograms, the forecast indicates a year-on-year decrease of approximately 1.9% for 2024. Over the subsequent years, the annual reduction rates from 2024 onwards are anticipated to be 1.9% in 2025, 1.9% in 2026, 1.9% in 2027, and 1.9% in 2028. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is expected to be around -1.9%, reflecting a consistent downward trend in imports of these materials into Norway.
Future trends to watch for include changes in global steel production, advancements in electric arc furnace technology, and shifts in Norway's import policies. Additionally, the development of alternative materials and recycling methods could further impact import volumes. Monitoring these factors will be crucial for anticipating fluctuations in the market for carbon and graphite furnace electrodes.
