North America Graphite Market Outlook (2021-2031)
Description
The North America Graphite Market is projected to grow from US$ 1.28 billion in 2024 to US$ 2.98 billion by 2031, achieving a compound annual growth rate (CAGR) of 13.1% during this period.
North America Graphite Market Analysis:
Graphite plays a crucial role in unconventional technologies such as renewable energy storage, electric vehicle (EV) batteries, and sustainable electronics. As the world shifts towards clean energy and electrification, the demand for graphite is increasing, particularly due to its use in lithium-ion batteries that power EVs and store renewable energy. According to a report by the Alliance for Automotive Innovation, North America produced 16,144,461 vehicles in 2024. The International Energy Agency (IEA) reported that the US accounted for approximately 18% of battery-electric vehicle sales in 2023, showing a more than 4% increase in registrations compared to 2020.
Segmentation Analysis
The North America graphite market can be segmented by type and application.
By Type: The market is divided into natural and synthetic graphite. In 2024, the synthetic graphite segment held the largest market share.
By Form: The market is categorized into powder, flake, granules, electrode, and others, with the flake segment leading in 2024.
By Application: The market is segmented into batteries, lubricants, refractories, friction products, electrodes, and others. The electrode segment dominated the market in 2024.
North America Graphite Market Outlook:
In light of geopolitical concerns and the need for sustainable sourcing, various countries are investing significantly in alternative graphite sources. North America is taking steps to secure its graphite supply, exemplified by a major project led by Graphite One Inc., a Canadian company. In October 2024, Graphite One announced a potential US$ 325 million loan from the Export-Import Bank of the United States (EXIM) to support its graphite production project in Alaska. This funding aims to facilitate one of the first large-scale, vertically integrated graphite projects in the US, focusing on mining, processing, and supplying graphite for EV batteries, thereby reducing reliance on foreign sources.
According to Natural Resources Canada, Canada produced 4,261 tons of natural graphite in 2023, ranking 11th among the world’s largest graphite producers. With a 23% annual increase in global graphite production since 2022, Canada’s market is gaining prominence due to rising demand for graphite in electric vehicle batteries, energy storage, and advanced manufacturing technologies. In 2023, Canada exported US$ 18 million worth of natural graphite and US$ 14 million in synthetic graphite, primarily to the US. Canada’s abundant reserves and robust mining and export infrastructure position it as a key player in the global graphite supply chain.
Country Insights:
The North America graphite market is further segmented by region into the US, Canada, and Mexico, with the US holding the largest share in 2024.
The US graphite market is undergoing significant changes as domestic and international companies seek to enhance their production and processing capabilities to meet the surging demand, primarily driven by the EV industry. In response, the US government is taking proactive measures to support the industry, recognizing the strategic significance of securing a stable supply of graphite and other critical minerals. In September 2024, Urbix, a leading US-based graphite processing company, obtained a US$ 125 million loan from the US government to construct a new processing facility. This investment underscores the government’s dedication to boosting domestic graphite production and reducing dependence on foreign suppliers, notably China. Additionally, the US government extended a US$ 150 million loan to a graphite mining operation in Mozambique to enhance global graphite production, catering to the needs of US industries. Such international partnerships further strengthen the US graphite supply chain.
Key Players
Key players in the market include 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, and Nanjing GRF Carbon Material Co., Ltd. These companies are adopting strategies such as expansion, product innovation, and mergers and acquisitions to strengthen their market position.
North America Graphite Market Analysis:
Graphite plays a crucial role in unconventional technologies such as renewable energy storage, electric vehicle (EV) batteries, and sustainable electronics. As the world shifts towards clean energy and electrification, the demand for graphite is increasing, particularly due to its use in lithium-ion batteries that power EVs and store renewable energy. According to a report by the Alliance for Automotive Innovation, North America produced 16,144,461 vehicles in 2024. The International Energy Agency (IEA) reported that the US accounted for approximately 18% of battery-electric vehicle sales in 2023, showing a more than 4% increase in registrations compared to 2020.
Segmentation Analysis
The North America graphite market can be segmented by type and application.
By Type: The market is divided into natural and synthetic graphite. In 2024, the synthetic graphite segment held the largest market share.
By Form: The market is categorized into powder, flake, granules, electrode, and others, with the flake segment leading in 2024.
By Application: The market is segmented into batteries, lubricants, refractories, friction products, electrodes, and others. The electrode segment dominated the market in 2024.
North America Graphite Market Outlook:
In light of geopolitical concerns and the need for sustainable sourcing, various countries are investing significantly in alternative graphite sources. North America is taking steps to secure its graphite supply, exemplified by a major project led by Graphite One Inc., a Canadian company. In October 2024, Graphite One announced a potential US$ 325 million loan from the Export-Import Bank of the United States (EXIM) to support its graphite production project in Alaska. This funding aims to facilitate one of the first large-scale, vertically integrated graphite projects in the US, focusing on mining, processing, and supplying graphite for EV batteries, thereby reducing reliance on foreign sources.
According to Natural Resources Canada, Canada produced 4,261 tons of natural graphite in 2023, ranking 11th among the world’s largest graphite producers. With a 23% annual increase in global graphite production since 2022, Canada’s market is gaining prominence due to rising demand for graphite in electric vehicle batteries, energy storage, and advanced manufacturing technologies. In 2023, Canada exported US$ 18 million worth of natural graphite and US$ 14 million in synthetic graphite, primarily to the US. Canada’s abundant reserves and robust mining and export infrastructure position it as a key player in the global graphite supply chain.
Country Insights:
The North America graphite market is further segmented by region into the US, Canada, and Mexico, with the US holding the largest share in 2024.
The US graphite market is undergoing significant changes as domestic and international companies seek to enhance their production and processing capabilities to meet the surging demand, primarily driven by the EV industry. In response, the US government is taking proactive measures to support the industry, recognizing the strategic significance of securing a stable supply of graphite and other critical minerals. In September 2024, Urbix, a leading US-based graphite processing company, obtained a US$ 125 million loan from the US government to construct a new processing facility. This investment underscores the government’s dedication to boosting domestic graphite production and reducing dependence on foreign suppliers, notably China. Additionally, the US government extended a US$ 150 million loan to a graphite mining operation in Mozambique to enhance global graphite production, catering to the needs of US industries. Such international partnerships further strengthen the US graphite supply chain.
Key Players
Key players in the market include 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, and Nanjing GRF Carbon Material Co., Ltd. These companies are adopting strategies such as expansion, product innovation, and mergers and acquisitions to strengthen their market position.
Table of Contents
94 Pages
- 1. Introduction
- 1.1 Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Insights
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Data Triangulation and Validation:
- 4. Graphite Market Landscape
- 4.1 Global Overview
- 4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain
- 5. Graphite Market – Key Market Dynamics
- 5.1 Graphite Market – Key Market Dynamics
- 5.2 Market Drivers
- 5.3 Market Restraints
- 5.4 Market Opportunities
- 5.5 Future Trends
- 5.6 Impact of Drivers and Restraints:
- 6. North America Graphite Market Analysis
- 6.1 North America Graphite Market Revenue (US$ Million), 2021–2031
- 6.2 North America Graphite Market Forecast Analysis
- 7. North America Graphite Market Analysis – by Type
- 7.1 Natural
- 7.1.1 Overview
- 7.1.2 Natural: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 7.2 Synthetic
- 7.2.1 Overview
- 7.2.2 Synthetic: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8. North America Graphite Market Analysis – by Form
- 8.1 Powder
- 8.1.1 Overview
- 8.1.2 Powder: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.2 Flake
- 8.2.1 Overview
- 8.2.2 Flake: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.3 Granules
- 8.3.1 Overview
- 8.3.2 Granules: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.4 Electrode
- 8.4.1 Overview
- 8.4.2 Electrode: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9. North America Graphite Market Analysis – by Application
- 9.1 Batteries
- 9.1.1 Overview
- 9.1.2 Batteries: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.2 Lubricants
- 9.2.1 Overview
- 9.2.2 Lubricants: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.3 Refractories
- 9.3.1 Overview
- 9.3.2 Refractories: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.4 Friction Products
- 9.4.1 Overview
- 9.4.2 Friction Products: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.5 Electrodes
- 9.5.1 Overview
- 9.5.2 Electrodes: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: North America Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10. North America Graphite Market – Country Analysis
- 10.1 North America
- 10.1.1 North America Graphite Market – Revenue and Forecast Analysis – by Country
- 10.1.1.1 North America Graphite Market – Revenue and Forecast Analysis – by Country
- 10.1.1.2 United States: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.2.1 United States: Graphite Market Share – by Type
- 10.1.1.2.2 United States: Graphite Market Share – by Form
- 10.1.1.3 Canada: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.3.1 Canada: Graphite Market Share – by Type
- 10.1.1.3.2 Canada: Graphite Market Share – by Form
- 10.1.1.4 Mexico: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.4.1 Mexico: Graphite Market Share – by Type
- 10.1.1.4.2 Mexico: Graphite Market Share – by Form
- 11. Competitive Landscape
- 11.1 Heat Map Analysis by Key Players
- 11.2 Company Positioning and Concentration
- 12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 Partnerships and Collaborations
- 12.4 Other Developments
- 13. Company Profiles
- 13.1 GES Europe GmbH
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Graphit Kropfmühl GmbH
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Pingdingshan Wanhui Graphite Co., Ltd.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 China Graphite Group Limited
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Leading Edge Materials Corp
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 SGL Carbon SE
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Ceylon Graphite Corp
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Imerys SA
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Graphite Central
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Nanjing GRF Carbon Material Co., Ltd.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
- 14.2 List of Abbreviations
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