United States Graphite Electrodes Market to Reach US$ 2,889.4 Million by 2032

February 21, 2023 | Chemical & Materials

The latest report by IMARC Group, titled “United States Graphite Electrodes Market Report by Product Type (Ultra-high Power (UHP), High Power (HP), Regular Power (RP)), Application (Electric Arc Furnace, Ladle Furnace, Non-Steel Application), and Region 2024-2032,” finds that the United States graphite electrodes market size reached US$ 1,864.8 Million in 2023. 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$ 2,889.4 Million by 2032, exhibiting a CAGR of 4.99% during the forecast period (2024-2032).

Market Summary:

  • 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Product Type, Application, Region
Region Covered Northeast, Midwest, South, West
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
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Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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United States Graphite Electrodes Market to Reach US$ 2,889.4 Million by 2032
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