U.S. Graphite Electrodes Market: Introduction
The graphite electrodes market in the U.S. was valued at US$ 939.11 Mn in 2018 and is anticipated to expand at a CAGR of ~2% from 2019 to 2027. Increase in demand for graphite electrodes in various end-use industries in the U.S. is driving the graphite electrodes market in the country.
Key Drivers of U.S. Graphite Electrodes Market
Graphite electrodes possess favorable electrical properties such as high mechanical and electrical strength at high temperatures, high vibrational resistance, high heat conductivity, low impurity content, and chemical stability. It also has the ability to withstand temperatures of up to 1,800°C in electric arc furnaces. Furthermore, graphite electrode exhibits superior thermal expansion and thermal shock resistance. These properties help lower the entire mass of steel at the time of manufacturing. Graphite electrode is also used in electric arc furnaces primarily for steel production. The ability of graphite electrodes to offer high electrical conductivity and sustaining high amount of heat inside electric arc furnaces makes them an ideal material for steel production. EAF units can be rapidly started and stopped, thus aiding steel manufacturing facilities to vary production, in accordance to demand for steel. EAFs are gaining popularity among majority of steel manufacturers, due to their high flexibility, quick turnaround time, and lower fixed costs. Steel products are widely used in construction & infrastructure, aerospace & defense, oil & gas, and chemical industries in the U.S. This is expected to drive the demand for steel products in end-use industries, thereby boosting the consumption of graphite electrode in EAFs.
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High growth in the production of electric arc furnace-based steel in the U.S. is expected to drive the demand for graphite electrodes in the near future. For instance, on February 11, 2019, United States Steel Corporation announced it had restarted the construction of a technologically advanced electric arc furnace (EAF) steelmaking facility at its Tubular Operations in Alabama, the U.S. Earlier, the company had announced plans to invest US$ 215 Mn for the installment of technologically advanced electric arc furnace for the facility. The facility is expected to have an annual production capacity of 1.6 million tons and the furnace is anticipated to produce steel in the second half of 2020. On October 8, 2019, Liberty Steel USA announced plans to invest US$ 25 Mn for the installment of a modern electric arc furnace at the Georgetown mill and for enhancing the infrastructure of its existing mill’s melt shop.
Demand for Ultra High Power Graphite Electrodes in U.S.
The ultra high power electrode segment accounted for major share of the graphite electrodes market in the U.S. in 2018. Ultra high power graphite electrodes are widely used in EAFs employed for steel production. Manufacturers of ultra high power graphite electrodes require high-quality raw materials such as needle coke. These electrodes are more efficient than high power and regular power electrodes. Major manufacturers of graphite electrodes are focusing on expanding their production capacity of ultra high power electrode in order to gain higher market share.
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Steel & Non-ferrous Metals to be Key Application Area
Based on application, the steel & non-ferrous metals segment held prominent share of the U.S. graphite electrodes market in 2018. The segment is expected to continue its dominance throughout the forecast period. The steel & non-ferrous metals application includes the use of graphite electrode in steel production. Growth of the steel & non-ferrous metals segment in the U.S. can be ascribed to the increase in the production of steel in the country. For instance, according to the World Steel Association, production of crude steel in the U.S. increased from 81.6 million tons in 2017 to 86.6 million tons in 2018.
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Market Share of Prominent Players
Prominent players operating in the U.S. graphite electrodes market include GrafTech International, Showa Denko K.K., Tokai Carbon, GES-AGM, Ameri-Source Specialty Products, Graphite Sales, Inc., and Saturn Industries, Inc.
U.S. Graphite Electrodes Market: Segmentation
U.S. Graphite Electrodes Market, by Type
- Ultra High Power Electrode (18" and Above)
- High Power Electrode (18" and Below)
- Regular Power Electrode (16" and Below)
U.S. Graphite Electrodes Market, by Application
- Steel & Non-ferrous Metals
- Fused Materials
- Chemical Processing
- Others (including Ferroalloys and Silicon Metal)
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