The United States graphite electrodes market size reached US$ 1,864.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,889.4 Million by 2032, exhibiting a growth rate (CAGR) of 4.99% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 1,864.8 Million |
Market Forecast in 2032
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US$ 2,889.4 Million |
Market Growth Rate 2024-2032 | 4.99% |
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.
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.
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 2024-2032. Our report has categorized the market based on product type and application.
Breakup by Product Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
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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 Five User License: US$ 4699 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) |
The United States graphite electrodes market was valued at US$ 1,864.8 Million in 2023.
We expect the United States graphite electrodes market to exhibit a CAGR of 4.99% during 2024-2032.
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.