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
North America Graphite Market a critical component in emerging technologies such as renewable energy storage, electric vehicle (EV) batteries, and sustainable electronics. As the world transitions toward clean energy and electrification, demand for graphite is surging, particularly for its role in lithium-ion batteries that power EVs and store renewable energy. 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 from 2020.
North America Graphite Market Outlook
Amid geopolitical tensions and the push for sustainable sourcing, countries are investing heavily in securing alternative graphite supplies. North America is actively working to reduce reliance on foreign imports, with key projects such as Graphite One Inc.’s U.S.-backed initiative gaining momentum. 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 project in Alaska. This project—one of the first of its kind in the U.S.—aims to mine, process, and supply graphite for EV batteries, bolstering domestic supply chains.
Canada is also emerging as a significant player in the graphite market. According to Natural Resources Canada, the country produced 4,261 tons of natural graphite in 2023, ranking 11th globally. With global graphite production increasing by 23% annually since 2022, Canada’s abundant reserves and strong mining infrastructure position it as a key supplier. In 2023, Canada exported 18millioninnaturalgraphiteand18millioninnaturalgraphiteand14 million in synthetic graphite, primarily to the U.S.
North America Graphite Market: Country Insights
The North America Graphite Market is segmented into the U.S., Canada, and Mexico, with the U.S. dominating the market share in 2024.
United States
The U.S. graphite market is undergoing a major transformation as companies expand production to meet rising EV battery demand. Recognizing graphite as a critical mineral, the U.S. government is actively supporting domestic production to reduce dependence on foreign suppliers, particularly China. Key developments include:
- In September 2024, Urbix, a U.S.-based graphite processor, secured a $125 million government loan to build a new processing facility.
- The U.S. also extended a $150 million loan to a graphite mining operation in Mozambique, ensuring a steady supply for American industries while strengthening international partnerships.
Canada
Canada’s graphite sector is gaining traction due to its extensive reserves and export capabilities. The country is poised to play a pivotal role in the global graphite supply chain, particularly as demand for battery materials grows.
Mexico
While Mexico’s graphite market is smaller than that of the U.S. and Canada, its proximity to North American manufacturing hubs presents growth opportunities, especially as EV production expands in the region.
Conclusion
The North American graphite market is set for significant growth, driven by the EV revolution and energy storage demands. With strategic investments in domestic production and international partnerships, the region is working to secure a stable, sustainable graphite supply chain, reducing reliance on foreign sources and supporting the clean energy transition.
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
North America Graphite Market leaders and key company profiles
- SGL Carbon
- Imerys Graphite & Carbon
- EuroGraphite
- Graphite India Ltd.
- Graphit Kropfmühl GmbH
- China Graphite Group Limited
- Ceylon Graphite Corp
- Graphite Central
- Nanjing GRF Carbon Material Co Ltd
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Nordic Permanent Magnet Market: https://businessnews46.wordpress.com/2025/05/05/nordic-permanent-magnet-market-current-status-by-major-key-vendors-2031/
GCC Permanent Magnet Market: https://www.findit.com/bxzmqbokeeacpdc/RightNow/gcc-permanent-magnet-market-trends-size-segment-ands/9762bdb5-bbe5-4d1e-83d2-c1888764fbee
ASEAN Graphite Market: https://penzu.com/p/bfac71de5d03924b
Europe Pharmaceutical Continuous Manufacturing Market: https://business-news-insights.blogspot.com/2025/05/europe-pharmaceutical-continuous.html
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
