North America Graphite Market Market Size, Share & Global Insights 2022-2031

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.

Graphite is a crucial part of unconventional technologies such as renewable energy storage, electrical vehicle (EV) batteries, and sustainable electronics. In response to the global shift toward clean energy and electrification, demand for graphite is increasing due to its use in lithium-ion batteries that power EVs and store renewable energy. According to the Alliance for Automotive Innovation report, North America manufactured 16,144,461 vehicles in 2024. As per the International Energy Agency (IEA) report, the US registered ~18% battery-electric vehicle sales in 2023, recording more than 4% surge in the registrations made in 2020.

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In response to geopolitical concerns and the need for sustainable sourcing, various countries are making significant investments in the exploration of alternative graphite sources. North America, in particular, has been taking steps to secure its graphite supply, with key projects such as the one led by Graphite One Inc., a Canadian company, making headlines.

INTRODUCTION
According to Natural Resources Canada, in 2023, Canada produced 4,261 tons of natural graphite, ranking 11th among the largest graphite producers globally. With a 23% annual increase in global graphite production since 2022, Canada's market is gaining attention due to the rising demand for graphite in electric vehicle (EV) batteries, energy storage, and advanced manufacturing technologies. In 2023, Canada exported US$ 18 million worth of natural graphite and US$ 14 million of synthetic graphite, with the US being its primary export destination. Canada's abundant reserves, and robust mining and export infrastructure position it as a key player in the global graphite supply chain.

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Key Segmentation:

Key segments that contributed to the derivation of the North America graphite market analysis are type and application.
• On the basis of type, the North America graphite market is segmented into natural and synthetic. The synthetic segment held the largest share of the market in 2024.
• In terms of form, the market is segmented into powder, flake, granules, electrode, and others. The flake segment held the largest share of the market in 2024.
• On the basis of application, the market is segmented into batteries, lubricants, refactories, friction products, and electrode, others. The electrode segment held the largest share of the market in 2024.
Key Market Players
• 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.

Table of Contents

The US graphite market is experiencing a notable shift as domestic and international companies focus on increasing their production and processing capacities to meet the growing demand for graphite. This demand is largely driven by the EV industry, which relies heavily on graphite for battery production. In response to this, the US government has taken proactive steps to support the industry by acknowledging the strategic importance of securing a stable supply of graphite and other critical minerals.

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