The United States graphite electrodes market size reached US$ 1,766.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,434.4 Million by 2028, exhibiting a growth rate (CAGR) of 5.54% during 2023-2028.
Graphite electrodes are primarily used in electric arc furnaces (EAF) for manufacturing steel. They are made up of petroleum needle coke and coal tar pitch. Since graphite exhibits enhanced durability, scalability, high thermal conductivity, and low electrical resistance, these electrodes are widely used for multiple applications across diverse sectors.
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United States Graphite Electrodes MarketTrends:
The market in the United States is majorly driven by considerable growth in the automotive sector. This, along with the increasing manufacturing of electric vehicles (EVs) across the country, is significantly contributing to the market growth. Furthermore, the rising product demand in the production of lithium-ion (Li-ion) batteries is positively influencing the market growth. Moreover, the escalating demand for anti-corrosive products in the oil and gas sector is further propelling the market growth. Additionally, the widespread adoption of ultra-high power graphite electrodes for recycling steel in EAF is providing a boost to market growth since these product variants are characterized by low electrical resistivity, high-temperature resistance, higher thermal and electrical conductivity, and ultra-high bending resistance.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States graphite electrodes market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
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Ultra-high Power (UHP)
High Power (HP)
Regular Power (RP)
Breakup by Application:
Electric Arc Furnace
Ladle Furnace
Non-Steel Application
Breakup by Region:
Northeast
Midwest
South
West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
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$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
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)
Key Questions Answered in This Report
The United States graphite electrodes market was valued at US$ 1,766.9 Million in 2022.
We expect the United States graphite electrodes market to exhibit a CAGR of 5.54% during 2023-2028.
The rising demand for graphite electrodes across various industries, such as construction, aerospace, automotive, etc., as they exhibit enhanced scalability, durability, stable chemical properties, low electrical resistance, etc., is primarily driving the United States graphite electrodes market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in numerous production activities for graphite electrodes.
Based on the product type, the United States graphite electrodes market has been segregated into Ultra-high Power (UHP), High Power (HP), and Regular Power (RP). Among these, Ultra-high Power (UHP) currently exhibits a clear dominance in the market.
Based on the application, the United States graphite electrodes market can be bifurcated into electric arc furnace, ladle furnace, and non-steel application. Currently, electric arc furnace holds the largest market share.
On a regional level, the market has been classified into Northeast, Midwest, South, and West.
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