North America Graphite Electrodes Market

North America Graphite Electrode Market Size (2024-2032):

The size of the North America graphite electrode market was worth USD 5.36 billion in 2023. The North America market is anticipated to grow at a CAGR of 3.89% from 2024 to 2032 and be worth USD 7.56 billion by 2032 from USD 5.57 billion in 2024.

Market Scenario

A graphite electrode is often used for providing electrical conductivity at a higher level and the ability to defend an extremely high level of dissipated heat. These are primarily used in the production of electric arc furnaces (EAF) that are used in the refinement of steel and similar smelting processes like ferroalloys, silicon, white phosphorus/yellow phosphorus, etc.

The growth of the North America graphite electrodes market is attributed to the high consumption and production of graphite electrodes in the US and Canada. 

Market Drivers and Restraints

The penetration of EAF-based steel production, which is stable for the foreseeable future owing to the high awareness regarding environmentally friendly technologies, is imprinting a significant upward trend for the demand for graphite electrodes in the coming five years in North America. The increasing application of steel in different end-user verticals like construction, infrastructure, and others will create enormous growth potential for the development of the graphite electrodes business in this area. The growing adoption of electric arc furnaces in the manufacturing of steel and other elements is likely to propel the expansion of the graphite electrodes business in the North American nations in the foreseen years.

However, the availability of raw materials that are required for manufacturing these electrodes is the major restraint of the growth of the North American graphite Electrode Market. Also, the strict government regulations related to the emission of carbon compounds will act as a foothold for the rapid expansion of this industry in this area over the outlook period.

Market Segmentation

North America Graphite Electrode Market Analysis By Product Type

• Ultra-High Power
• High-Power
• Regular-Power

North America Graphite Electrode Market Analysis By Application

• Steel Production
• Silicon Metal Production
• Aluminum Production

Geographical Analysis

• US
• Canada
• Rest of North America

In the regional analysis of the North America Graphite Electrode Market, the US is the region that has a significant share of the target markets' revenue. The growth of the graphite electrode market in the US is attributed to the awareness about eco-friendly technologies, which are boosting the demand for these graphite electrodes. Canada is also another promising area for the expansion of the regional market.

Market Key Players

The key players in the North America Graphite Electrode Market include Showa Denko K.K., GrafTech International, Graphite India Limited, Nippon Carbon Co. Ltd., HEG Limited, Kaifeng Carbon Co., Ltd., Nantong Yangzi Carbon, SEC Carbon, Ltd., and Tokai Carbon Co., Ltd., and Others.

Market Recent Developments

• Showa Denko KK Group, a leading chemical engineering firm in Japan, committed to installing the devices for mass-production of the SPALF Packaging Material for large onboard lithium-ion batteries. 

• Tokai Carbon Co., Ltd. confirmed the acquisition of the Graphite Electrodes Business of the SGL GE, which is one of the largest Graphite Electrode manufacturers around the world.