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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.
North America Graphite Market: Executive Summary and Analysis
The North America Graphite Market is experiencing significant growth, fueled by the burgeoning demand for this critical mineral in clean energy technologies, particularly lithium-ion batteries for electric vehicles (EVs) and renewable energy storage. This surge aligns with the global transition towards electrification and sustainable energy solutions. In 2024 alone, North America manufactured over 16 million vehicles, underscoring the scale of the automotive sector driving graphite demand. Notably, the US witnessed an ~18% battery-electric vehicle sales penetration in 2023, a substantial increase from 2020, further highlighting this trend.
Recognizing the strategic importance of a secure graphite supply amidst geopolitical uncertainties, North America is actively pursuing alternative sourcing options. Canada, ranking as the 11th largest global graphite producer in 2023 with 4,261 tons, is gaining prominence. Its graphite production has seen a 23% annual increase since 2022, driven by demand from the EV, energy storage, and advanced manufacturing sectors. In 2023, Canada exported US$ 18 million of natural and US$ 14 million of synthetic graphite, primarily to the US. Canada's substantial reserves and established infrastructure position it as a key player in the global graphite supply chain.
Within North America, the US held the largest share of the graphite market in 2024. The US market is undergoing a transformation with both domestic and international companies expanding their production and processing capabilities to meet the escalating demand from the EV industry. The US government is actively supporting this growth, recognizing the strategic imperative of securing a stable graphite supply and reducing reliance on foreign sources, particularly China. This commitment is evidenced by significant financial support, such as the US$ 125 million loan awarded to Urbix in September 2024 for a new processing facility. Additionally, the US government's US$ 150 million loan to a graphite mining operation in Mozambique demonstrates a strategy of diversifying the global supply chain to benefit US industries.
Furthermore, Graphite One Inc., a Canadian company, secured a potential US$ 325 million loan from the Export-Import Bank of the United States in October 2024. This funding aims to advance its large-scale, vertically integrated graphite project in Alaska, encompassing mining, processing, and supply specifically for EV batteries. This initiative is a significant step towards establishing a domestic graphite supply chain within the US.
In conclusion, the North America Graphite Market is on a trajectory of significant expansion, propelled by the increasing adoption of EVs and the growing need for energy storage solutions. Strategic investments and government support in both the US and Canada are crucial in establishing a resilient and secure graphite supply chain within 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
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
Other Reports:
Asia Pacific Permanent Magnet Market: https://postyourarticle.com/asia-pacific-permanent-magnet-market-competitive-landscape-size-segments-2031/
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
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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