The import of carbon and graphite furnace electrodes to India witnessed significant fluctuations over the last decade, peaking drastically in 2018 with a substantial resurgence after a downward trend from 2013 to 2017. In 2023, the imports stood at approximately 66.259 million USD, indicating a steady increase since 2020. The year-on-year growth was modest at 3.13% for 2023, and the five-year compound annual growth rate (CAGR) leading to 2028 is forecasted at 2.31%, reflecting steady growth with a 12.11% cumulative increase over this period.
Trends to watch for in the future include:
- Potential shifts in global trade policies affecting raw material availability.
- Technological advancements in electrode production that might reduce dependency on imports.
- Economic factors impacting domestic production capabilities and consumption rates.
- Environmental regulations influencing demand for carbon and graphite products.
