North America Graphite Market Growth
Opportunities, Top Key Players, and Forecast by 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: North America Graphite Market Analysis

The North America graphite market is experiencing significant growth, primarily fueled by the burgeoning electric vehicle (EV) industry and the increasing demand for renewable energy storage solutions. Graphite, a critical component in lithium-ion batteries, is essential for these technologies. Driven by the global shift towards electrification and clean energy, the demand for graphite is surging.

North America is actively securing its graphite supply to mitigate geopolitical risks and ensure sustainable sourcing. Notable projects, such as Graphite One Inc.'s Alaskan venture, supported by a potential US$ 325 million loan from the Export-Import Bank of the United States (EXIM), are pivotal in developing vertically integrated domestic graphite production. This initiative aims to reduce reliance on foreign graphite sources, particularly from China.

Canada is emerging as a key player in the global graphite market, ranking 11th in global natural graphite production in 2023, with 4,261 tons. The country's robust mining infrastructure and abundant reserves, coupled with a 23% annual increase in global graphite production since 2022, position it favorably to meet the rising demand. In 2023, Canada exported US$ 18 million of natural graphite and US$ 14 million of synthetic graphite, primarily to the US.

The United States holds the largest share of the North America graphite market. Government initiatives, such as the US$ 125 million loan to Urbix for a new processing facility and a US$ 150 million loan to a graphite mining operation in Mozambique, underscore the commitment to bolstering domestic and allied graphite supply chains. The US government's strategic focus on securing critical minerals like graphite is essential for meeting the growing demands of its EV and advanced technology sectors. The North American automotive industry produced over 16 million vehicles in 2024, and the US saw roughly 18% of vehicle sales being battery-electric in 2023, up more than 4% from 2020. This indicates a large growing market for graphite in the region.

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 Analysis: Key Insights

North America Graphite Market Market Drivers:

• Electric Vehicle (EV) Growth: The rapid adoption of EVs, which rely heavily on graphite for battery production, is the primary driver of market growth.
• Renewable Energy Storage: Increasing demand for lithium-ion batteries in energy storage systems further boosts graphite consumption.
• Geopolitical Security: Efforts to diversify graphite supply chains and reduce dependence on specific countries are driving domestic production and investment.
• Government Support: Loans and funding initiatives from governments, like the EXIM loan to Graphite One and the US government loans to Urbix and the Mozambique mining operation, are accelerating market development.

Regional Highlights: North America Graphite Market

• United States: Leading the North American market, the US is focused on increasing domestic production and processing capacity. Government support is crucial in achieving this goal.
• Canada: A significant contributor to the global graphite supply, Canada benefits from abundant reserves and established mining infrastructure. Its export market, particularly to the US, is robust.
• Mexico: While not as prominent as the US or Canada, Mexico is also participating in the North American graphite market, with potential for growth in the future.

Key Developments: North America Graphite Market

• Graphite One Inc.'s Alaskan project, supported by US government funding, aims to establish a vertically integrated graphite supply chain.
• Urbix's new processing facility, funded by a US government loan, will enhance domestic graphite processing capabilities.
• International partnerships, such as the US loan to the Mozambique graphite mining operation, are strengthening the US supply chain.

Market Outlook: North America Graphite Market

The North American graphite market is poised for substantial expansion, driven by the escalating demand for EVs and energy storage solutions. Government initiatives and private sector investments are crucial in securing a stable and sustainable graphite supply.

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