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: North America Graphite Market Analysis
Graphite is a critical component in emerging technologies, particularly in renewable energy storage, electric vehicle (EV) batteries, and sustainable electronics. As the world transitions toward clean energy and electrification, demand for graphite is surging, driven by its essential role in lithium-ion batteries for EVs and grid-scale energy storage. According to the Alliance for Automotive Innovation, North America produced 16.1 million vehicles in 2024, while the International Energy Agency (IEA) reported that battery-electric vehicle sales in the U.S. reached ~18% in 2023, marking a 4% increase since 2020.
To address geopolitical risks and ensure sustainable sourcing, North America is actively investing in domestic graphite production. Key projects, such as Graphite One Inc.’s Alaskan venture, highlight this shift. In October 2024, the company secured a potential $325 million loan from the U.S. Export-Import Bank (EXIM) to develop a vertically integrated graphite supply chain—from mining to battery-grade material production—reducing reliance on foreign sources.
Canada is also emerging as a significant player, producing 4,261 tons of natural graphite in 2023 (ranking 11th globally). With global graphite production growing at 23% annually, Canada’s abundant reserves and strong export infrastructure position it as a key supplier. In 2023, Canada exported 18 million in natural graphite and 14 million in synthetic graphite, primarily to the U.S.
The U.S. dominates the North American graphite market, with government-backed initiatives strengthening domestic production. In September 2024, Urbix, a U.S.-based graphite processor, received a 125 million government loan to build a new facility, under scoringefforts to secure supply chains. Additionally, the U.S. extendeda 150 million loan to a Mozambique-based graphite mine, ensuring a steady supply for American industries.
With the EV revolution and energy storage boom accelerating, the North America graphite market is poised for substantial growth, driven by strategic investments and supply chain diversification.
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:
- GES Europe GmbH
- Graphit Kropfmühl GmbH
- Pingdingshan Wanhui Graphite Co., Ltd
- China Graphite Group Limited
- Leading Edge Materials Corp
- SGL Carbon SE
- Ceylon Graphite Corp
- Imerys SA
- Graphite Central
- 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 Outlook
Key Drivers: North America Graphite Market
- EV Battery Demand: Rising EV adoption fuels graphite consumption in lithium-ion batteries.
- Renewable Energy Storage: Grid-scale battery systems increase graphite demand.
- Supply Chain Security: Geopolitical concerns push North America to develop domestic production.
Notable Developments: North America Graphite Market
- Graphite One Inc. (U.S./Canada): Secured $325 million EXIM loan for Alaska-based mining and processing.
- Urbix (U.S.): Awarded $125 million government loan for a new graphite processing plant.
- U.S. International Investments: $150 million loan to a Mozambique graphite mine to stabilize supply.
Canada’s Growing Role:
- Production: 4,261 tons in 2023 (11th largest globally).
- Exports: $32 million combined (natural + synthetic), mostly to the U.S.
- Advantages: Strong mining infrastructure and untapped reserves.
North America Graphite Market: Country Insights
United States (Market Leader in 2024)
- Government Support: Loans and grants to boost domestic production.
- Key Projects:
- Urbix’s $125M facility (processing).
- Graphite One’s Alaska project (integrated supply chain).
- Strategic Moves: International investments (e.g., Mozambique loan) to secure supply.
Canada (Emerging Supplier)
- Production Growth: 23% annual increase in global output benefits Canadian miners.
- Export Strength: Primary graphite supplier to the U.S.
Mexico (Developing Market)
- Potential: Emerging as a future player in graphite mining and processing.
Conclusion
The North America graphite market is expanding rapidly, driven by EV adoption, renewable energy storage, and supply chain security efforts. With strategic investments in domestic production and international partnerships, the region is positioning itself as a key player in the global graphite supply chain. Future growth will depend on continued government support, technological advancements, and sustainable mining practices.
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
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
