United States Graphite Market 2025 | Industry Growth, Strategic Developments & Competitive Analysis

Market Size and Growth

Global Graphite Market reached US$ 23.8 billion in 2023 and is expected to reach US$ 38.5 billion by 2031, growing with a CAGR of 6.2% during the forecast period 2024-2031.

Key Development:

United States: Recent Industry Developments

✅ July 2025 - Graphite One joined Lucid and other domestic battery materials developers in launching MINAC (Minerals for National Automotive Competitiveness), a collaborative initiative to promote domestic critical minerals in the U.S. automotive supply chain.

✅ June 2025 - Graphite One and Lucid Motors entered into a second non-binding supply agreement for natural graphite anode active materials (AAM), with production expected to commence in 2028, sourced from Graphite One's Graphite Creek deposit in Alaska.

✅ July 2024 - Graphite One and Lucid Motors announced a non-binding supply agreement at a U.S. Capitol briefing, marking the first step in creating a fully domestic U.S. supply chain for anode active materials (AAM), linking Alaska, Ohio, and Arizona.

Japan: Recent Industry Developments

✅ July 2025 - Mitsubishi Chemical and a consortium of Japanese battery material producers announced plans to increase domestic graphite production capacity to support EV battery supply chains, targeting operational readiness by 2027.

✅ June 2025 - Panasonic launched a new high-purity synthetic graphite production line to meet increasing demand for lithium-ion battery anodes, with pilot operations starting in Osaka.

✅ May 2025 - Hitachi Metals introduced a next-generation coated graphite material for high-energy-density batteries, aimed at improving charge/discharge efficiency in EVs, with commercialization planned for late 2025.

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Graphite is a naturally occurring form of carbon characterized by its layered, planar structure, high thermal and electrical conductivity, and lubricating properties. It is widely used in batteries, refractories, lubricants, electrodes, and industrial applications due to its strength, stability, and chemical resistance.

Recent Mergers and Acquisitions

United States: Recent M&A and Strategic Partnerships

✅ August 2025 - NextSource Materials signed a binding offtake agreement with Mitsubishi Chemical Corporation to supply approximately 9,000 tonnes per annum of SuperFlake anode active material for the North American electric vehicle (EV) market. This partnership accelerates NextSource's development of its Battery Anode Facility, targeting full-scale ramp-up by 2027.

✅ July 2025 - Lucid Motors and Graphite One launched the "Minerals for National Automotive Competitiveness" (MINAC) initiative, uniting a select group of miners and processors. This strategic collaboration aims to promote domestic critical minerals in the U.S. automotive supply chain, aligning with Graphite One's 100% U.S.-based advanced graphite materials supply chain strategy.

✅ February 2024 - Panasonic Energy entered into a binding offtake agreement with Novonix to purchase synthetic graphite over four years (2025-2028). The material will be utilized at Panasonic's existing EV battery facilities in the U.S., supporting automakers like Tesla and Mazda.

Japan: Recent M&A and Strategic Partnerships

✅ August 2025 - Hitachi High-Tech and NOF Metal Coatings announced a collaboration to utilize materials informatics, aiming to enhance the efficiency and sophistication of research and development operations in the field of battery materials.

✅ December 2024 - Mitsubishi Chemical Group unveiled plans to expand its production capacity for anode materials used in lithium-ion batteries at its Kagawa Plant in Sakaide, Kagawa Prefecture. Operations are set to begin in October 2026, supporting the growing demand for EV batteries.

Key Players:

-> GrafTech International, Graphite India Limited, Nippon Graphite Industries Co. Ltd, Tokai Carbon, HEG Limited, Energizer Resources Inc., Focus Graphite Inc., Showa Denko K.K., Sangraf International and Amg Advanced Metallurgical Group N.V.

Growth Forecast Projected:

The Global Graphite Imaging Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Graphite Imaging Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Type: Natural Graphite, Synthetic Graphite

By Application: Lubrication, Refractories, Foundry, Battery Production, Others

Regional Analysis for Graphite Imaging Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Graphite Imaging producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Graphite Imaging revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Graphite Imaging Market?

A: In 2023, the Graphite Imaging Market was valued at US$ 23.8 billion, reflecting its strong industry presence.

Q2: How large is the Graphite Imaging Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Graphite Imaging Market will grow to around US$ 38.5 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Graphite Imaging Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2024 to 2031.

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