Global Carbon & Graphite Felt Market Size Insights Forecasts to 2032
- The Global Carbon & Graphite Felt Market Size was valued at USD 457 Million in 2022.
- The Market is Growing at a CAGR of 8.1% from 2022 to 2032
- The Worldwide Carbon & Graphite Felt Market Size is expected to reach USD 996 Million by 2032
- North America is expected to grow the fastest during the forecast period
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The Global Carbon & Graphite Felt Market Size is anticipated to exceed USD 996 Million by 2032, Growing at a CAGR of 8.1% from 2022 to 2032. The market is expanding significantly around the world, and a similar trend is expected throughout the forecast period. This expansion is being driven by rising demand for high-performance batteries and improved carbon fiber performance in high-temperature applications.
Carbon felt and graphite felt are the materials created when fibers are pressed, tangled, and condensed together. Carbon and graphite felt are widely used as electrodes and cathodes, with a variety of different applications and techniques also applicable, and are also used as furnace insulation. Efficiency is one of the most important factors in the transfer of energy from one location to another or from one process to another. Insulation is used to protect a product or piece of equipment from the loss or effect of factors such as heat or electricity. Manufacturers in the energy sector are focused on using insulators to improve process efficiencies. Insulators made of carbon-based compounds are commonly used for electrical and thermal insulation. Carbon felt and graphite felt insulators are carbon-based insulators that are used in thermal insulation applications across a wide range of industries. Carbon felt and graphite felt are lightweight, have high thermal resistance, little outgassing, and low density.
This research report categorizes the market for the global carbon & graphite felt market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the carbon & graphite felt market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the carbon & graphite felt market.
Global Carbon & Graphite Felt Market Report Coverage
|Market Size in 2022:||USD 457 Million|
|Forecast Period 2022-2032 CAGR:||8.1%|
|2032 Value Projection:||USD 996 Million|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Raw Material Type, By Product Type, By Type, By Application, By Region and COVID-19 Impact Analysis.|
|Companies Covered:||SGL Group, Toray Industries, Inc., Kureha Corporation, Nippon Carbon Co., Ltd., Beijing Great Wall Co., Ltd., Chemshine Carbon Co., Ltd., CM Carbon Co., Ltd., Gansu Haoshi Carbon Fiber Co., Ltd., CFC Carbon Co., Ltd., Sinotek Materials and other key venders.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The global carbon felt and graphite felt market is being propelled forward by rising demand from critical industrial applications such as gas generation, liquid heating, and vacuum distillation. Rising demand can be linked to the product's favorable qualities, particularly energy efficiency and cost reductions. Carbon and graphite felts are excellent insulators because they are lightweight, flexible, and low in ash and sulfur. These have a low thermal conductivity as well, which allows the furnace to heat and cool quickly. Furthermore, carbon and graphite felts are increasingly being used in high-performance batteries due to their lightweight, high thermal insulation, and chemical stability, which is fueling market growth. Carbon and graphite research and development by major manufacturers is expected to contribute significantly to industry growth over the forecast period, with end-use uses across many developing industries such as crystal growing, high-pressure sintering, and others. The growing adoption of carbon felt & graphite felt for high-performance batteries is projected to propel the expansion of the Global Carbon Felt And Graphite Felt Market over the forecast period due to properties such as high thermal insulation, broad operational range, chemical stability, and lightweight nature.
Carbon felt is primarily made from carbon fiber due to its high-performance properties such as high strength, improved corrosion resistance, and low weight. Carbon felt production necessitates high-end machinery and extensive technical knowledge owing to the brittle nature of carbon fiber in comparison to other raw materials. Carbonizing, graphitizing, pressing, and curing are all expensive processes in the felt manufacturing process. As a result, the cost of carbon fiber is much higher than that of other raw materials such as glass fiber and ceramic fiber. This raises the cost of producing carbon felt.
The Global Carbon & Graphite Felt Market share is classified into raw material type, product type, and type.
- The PAN segment is expected to hold the largest share of the global carbon & graphite felt market during the forecast period.
The global carbon & graphite felt market is categorized by raw material type into PAN, rayon, and pitch. Among these, the PAN segment is expected to hold the largest share of the global carbon & graphite felt market during the forecast period. Carbon and graphite felt made from PAN are expected to be popular and in high demand. It's mainly owing to their low cost. Carbon and graphite felt based on PAN are easy to process and have excellent insulating properties, making them even more cost effective. PAN-based felts are used as electrode backings in a variety of battery designs due to their high purity and chemical resistance.
- The soft felt segment is expected to hold the largest share of the global carbon & graphite felt market during the forecast period.
Based on the product type, the global carbon & graphite felt market is divided into soft felt and rigid felt. Among these, the soft felt segment is expected to hold the largest share of the global carbon & graphite felt market during the forecast period. Soft felt is lightweight and has superior structural flexibility and thermal insulation, making it ideal for furnace and battery applications. Rigid felt has thermal shock resistance, which improves performance in furnaces at high temperatures. Rigid felt has many advantages, including low thermal conductivity, high thermal stability, erosion resistance, and ease of processing.
- The carbon felt segment accounted for the largest revenue share of the global carbon & graphite felt market in 2022.
Based on the type, the global carbon & graphite felt market is divided into carbon felt and graphite felt. Among these, the carbon felt segment accounted for the largest revenue share of the global carbon & graphite felt market in 2022. During the forecast period, the market is anticipated to be influenced by the growing adoption of carbon felt in applications such as batteries, filters, and electrodes. Carbon and graphite felt are projected to be in high demand in the coming years due to their high structural stability.
Regional Segment Analysis of the Global Carbon & Graphite Felt Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific accounted for the largest share of the global carbon & graphite felt market in 2022.
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Asia Pacific accounted for the largest share of the global carbon & graphite felt market in 2022. Asia Pacific contributes to more than 30% of demand for carbon and graphite felts in batteries and more than 50% of demand in filters. The region's leading position in the global carbon & graphite felt market has been aided by the rapid growth of end-use applications such as furnaces, batteries, and filters, as well as the presence of a large number of organized and unorganized manufacturers. As a result, the region has become a major hub for the production of carbon and graphite felts. China is the world's largest producer and consumer of industrial heating systems and furnaces, so demand for carbon and graphite felts is high.
North America is expected to grow at the fastest pace in the global carbon & graphite felt market during the forecast period. The aerospace and defense industries in North America are thriving, fueling demand for carbon and graphite felt in applications such as aircraft components, thermal protection systems, and rocket motor insulation. The electronics component manufacturing and power generation industry in the United States has seen continued expansion in recent years, and this trend is expected to continue in the coming years. As a result, the carbon felt and graphite felt market in North America is expected to expand at an acceptable pace throughout the forecast period.
The report offers the appropriate analysis of the key organizations/companies involved within the global carbon & graphite felt along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- SGL Group
- Toray Industries, Inc.
- Kureha Corporation
- Nippon Carbon Co., Ltd.
- Beijing Great Wall Co., Ltd.
- Chemshine Carbon Co., Ltd.
- CM Carbon Co., Ltd.
- Gansu Haoshi Carbon Fiber Co., Ltd.
- CFC Carbon Co., Ltd.
- Sinotek Materials
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In August 2022, SGL Carbon Company disclosed strategies to increase capacity for graphite products used in the semiconductor industry at its Shanghai (China), St. Marys (USA), and Meitingen (Germany) sites.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Carbon & Graphite Felt Market based on the below-mentioned segments:
Global Carbon & Graphite Felt Market, By Raw Material Type
Global Carbon & Graphite Felt Market, By Product Type
- Soft Felt
- Rigid Felt
Global Carbon & Graphite Felt Market, By Type
- Carbon Felt
- Graphite Felt
Global Carbon & Graphite Felt Market, By Application
Global Carbon & Graphite Felt Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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