The latest report by IMARC Group, titled “United States Graphite Electrodes Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the United States graphite electrodes market size reached US$ 1,766.9 Million in 2022. Graphite electrodes are primarily used in an electric arc furnace (EAF) to refine steel in ladle furnaces and other smelting processes. They are large cylindrical structures formed of petroleum needle coke and coal tar pitch through various processes such as calcination, compounding, kneading, pressing, roasting, graphitizing, and machining. They are eco-friendly and cost-effective and also exhibit enhanced scalability, durability, stable chemical properties, low electrical resistance, high thermal conductivity, resistance to alkali, acid, organic solvent corrosion and thermal shock, and increased processing speed. As a result, graphite electrodes find extensive applications in various industrial verticals across the country.
United States Graphite Electrodes Market Trends:
The market is primarily driven by rapid industrialization and growing construction activities. In addition, the escalating demand for engineering and construction materials to produce iron and steel and the increasing utilization of aluminum and steel-based materials to construct huge infrastructures are contributing to the market growth. Moreover, the expanding automotive sector and the growing production of lithium-ion (Li-ion) batteries with graphite for electric vehicles (EVs) represent another major growth-inducing factor. Besides this, the increasing use of graphite electrodes in the aerospace industry to enhance fuel efficiency and in the defense sector due to their benefits, including high tolerance, rigidity, and strength, are providing a positive thrust to the market growth. Apart from this, the widespread adoption of ultra-high power (UHP) graphite electrodes for recycling steel in EAF due to their benefits, such as higher thermal and electrical conductivity, high-temperature resistance, and ultra-high bending resistance, is providing a boost to market growth. Furthermore, extensive research and development (R&D) activities conducted by key players to improve the quality of their products are also creating a favorable market outlook across the region. Looking forward, IMARC Group expects the market to reach US$ 2,434.4 Million by 2028, exhibiting a CAGR of 5.54% during the forecast period (2023-2028).
- Based on the product type, the market has been categorized into ultra-high power (UHP), high power (HP), and regular power (RP).
- On the basis of the application, the market has been classified into electric arc furnaces, ladle furnaces, and non-steel applications.
- Region-wise, the market has been divided into Northeast, Midwest, South, and West.
- The competitive landscape of the industry has also been examined with detailed profiles of the key players operating in the industry.
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||Northeast, Midwest, South, West
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