North America Graphite Market Analysis, Size, Share and Key Segments 2031

The North America Graphite Market size is expected to reach US$ 2.98 billion by 2031 from US$ 1.28 billion in 2024. The market is estimated to record a CAGR of 12.9 % from 2024 to 2031.


Executive Summary and North America Graphite Market Analysis

Graphite plays a critical role in emerging technologies, including renewable energy storage, electric vehicle (EV) batteries, and sustainable electronics. With the global transition toward clean energy and electrification, the demand for graphite is surging, primarily due to its essential use in lithium-ion batteries for EVs and renewable energy storage.

According to the Alliance for Automotive Innovation, North America manufactured 16,144,461 vehicles in 2024. Additionally, the International Energy Agency (IEA) reported that battery-electric vehicle (BEV) sales in the US reached ~18% in 2023, marking a more than 4% increase compared to 2020.

North America Graphite Market Outlook

Amid geopolitical concerns and the need for sustainable sourcing, North American countries are making substantial investments to secure domestic graphite supplies. One key project is led by Graphite One Inc., a Canadian company, which is working toward enhancing North America's graphite production capabilities.

  • In October 2024, Graphite One secured a potential US$ 325 million loan from the Export-Import Bank of the United States (EXIM) to finance its graphite production project in Alaska.
  • This initiative aims to establish one of the first large-scale, vertically integrated graphite operations in the US, focusing on mining, processing, and supplying graphite for EV batteries while reducing dependence on foreign sources.

The North America Graphite Market is expected to experience significant growth, driven by increasing demand for electrification in transportation and energy storage solutions.

According to Natural Resources Canada:

  • In 2023, Canada produced 4,261 tons of natural graphite, ranking 11th among the world's largest graphite producers.
  • Global graphite production grew by 23% annually since 2022, positioning Canada as a key player in the expanding market.
  • In 2023, Canada exported US$ 18 million worth of natural graphite and US$ 14 million worth of synthetic graphite, with the US as its primary export destination.
  • Canada’s rich graphite reserves, strong mining infrastructure, and export capabilities make it a crucial player in the global graphite supply chain.

North America Graphite Market Segments Covered

North America Graphite Market By Type

  • Natural
  • Synthetic

North America Graphite Market By Form

  • Powder
  • Flake
  • Granules
  • Electrode

North America Graphite Market By Application

  • Batteries
  • Lubricants
  • Refractories
  • Friction Products
  • Electrodes

North America Graphite Market Regions and Countries Covered

North America

  • US
  • Canada
  • Mexico

The key players operating in the North America graphite market include:

  1. GES Europe GmbH
  2. Graphit Kropfmühl GmbH
  3. Pingdingshan Wanhui Graphite Co., Ltd
  4. China Graphite Group Limited
  5. Leading Edge Materials Corp
  6. SGL Carbon SE
  7. Ceylon Graphite Corp
  8. Imerys SA
  9. Graphite Central
  10. Nanjing GRF Carbon Material Co., Ltd

These companies employ strategies such as expansion, product innovation, and mergers and acquisitions to remain competitive and deliver innovative products to their consumers.

North America Graphite Market – Country Insights

The North America graphite market is segmented into:

  • United States (largest market share in 2024)
  • Canada
  • Mexico

United States Graphite Market Trends

The US graphite industry is undergoing a major transformation, with domestic and international companies ramping up production and processing capacities to meet the increasing demand from the EV sector. Recognizing graphite as a critical mineral, the US government has implemented strategic initiatives to enhance domestic supply.

  • In September 2024, Urbix, a leading US-based graphite processing company, secured a US$ 125 million loan from the US government to build a new processing facility. This investment underscores the government's commitment to boosting domestic graphite production and reducing dependence on foreign sources, especially China.
  • Additionally, the US extended a US$ 150 million loan to support a graphite mining project in Mozambique. This initiative aims to increase global graphite production while strengthening the US supply chain through international partnerships.

With ongoing investments and government support, North America’s graphite market is poised for continued expansion, securing its role as a key supplier for the clean energy and EV industries.

Other Report:

ASEAN Graphite Market: https://www.blogbursts.in/asean-graphite-market-segmentation-future-plans-and-growth-rate-to-2031/ 

GCC Permanent Magnet Market: https://pastelink.net/2r8tpel4 

Asia Pacific Permanent Magnet Market: https://businessnews46.wordpress.com/2025/03/21/asia-pacific-permanent-magnet-market-competitive-landscape-strategies-share-trends-2031/ 

BRIC Permanent Magnet Market: https://justpaste.it/ecfqj 

Eastern Europe Permanent Magnet Market: https://www.globalpostnews.com/news/business/eastern-europe-permanent-magnet-market-key-segments-poised-for-strong-growth-in-future-2031/ 

Latin America Graphite Market: https://www.patreon.com/posts/latin-america-124866841

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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