IMARC Group, a leading market research company, has recently releases report titled “Carbon Felt and Graphite Felt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global carbon felt and graphite felt market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the carbon felt and graphite felt market?

Report Attributes

Details

Market Size in 2022

US$ 462.4 Million

Market Forecast in 2028

US$ 817.4 Million

Growth rate (2023 to 2028)

CAGR of 9.70%

Base Year of the Analysis

2022

Forecast Period

2023-2028

What is carbon felt and graphite felt?

Carbon and graphite felt are refractory materials produced by pressing, tangling, and compressing fibers. They are easy to install, structurally stable, and exhibit high thermal resistance, low density, and negligible outgassing. They are commonly used as cathodes and electrodes in several battery designs and as insulation in vacuum and inert gas furnaces. These materials are ideal for high-temperature insulation, low shrinkage, and outgassing applications. In addition, they are flexible, durable, lightweight, easy to cut, and resistant to high temperatures, chemicals, and corrosion. At present, carbon felt and graphite felt are widely employed in automotive exhaust lining, furnaces, optic fibers, and heat shields across the globe.

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What are the growth prospects and trends in the carbon felt and graphite felt?

The market is primarily driven by the increasing demand for carbon felt and graphite felt for high-temperature furnaces and batteries. In addition, the escalating product demand for high-performance batteries for their ability to store energy efficiently, high conductivity, minimized fire risk, and recyclability is contributing to the market growth. In line with this, the rising use of these products in industrial activities such as fluid heating, vacuum distillation, and gas manufacturing, including ethylene, vinyl chloride monomer, and synthetic gas, is accelerating the product adoption rate. Moreover, the significant expansion in the automotive industry, the growing product demand due to their heat insulation properties, and the increasing on-road vehicle fleet represent another major growth-inducing factor. Besides this, the industry is fragmented and is expected to face extreme competition in the upcoming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in June 2022, Toray Industries, Inc. planned to establish the environment and mobility development center in Nagoya, Aichi prefecture, and Otsu, Shiga prefecture, aims to reinforce the corporate marketing planning division’s abilities to accelerate the sales and marketing operations in those regions. Moreover, in August 2022, SGL Carbon Company disclosed its plan to increase the production capabilities of graphite products employed in the semiconductor industry at its St. Marys (USA), Shanghai (China), and Meitingen (Germany) facilities. Along with this, carbon felt and graphite felt are growing at different rates in numerous regions, with the Asia Pacific being the largest carbon felt and graphite felt market on account of the widespread product adoption in the electronic component manufacturing sector, significant technological advancements, and extensive research, and development (R&D) activities. Furthermore, the introduction of nanoparticle-combined carbon and graphite felts, government initiatives and investments for infrastructural development, and increasing research and development (R&D) activities to improve the performance and sustainability of these products are creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

  • Carbon Felt
  • Graphite Felt

Product Insights:

  • Soft Felt
  • Rigid Felt

Raw Material Insights:

  • Polyacrylonitrile
  • Rayon
  • Others

Application Insights:

  • Furnace
  • Batteries
  • Filters
  • Others

Breakup by Geography:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Beijing Great Wall Co. Ltd.
  • Carbon Composites Inc.
  • CeraMaterials
  • CeTech Co. Ltd.
  • CFC Carbon Co. Ltd.
  • CGT Carbon GmbH
  • Chemshine Carbon Co. Ltd.
  • CM Carbon Co. Ltd.
  • Morgan Advanced Materials
  • SGL Carbon SE
  • Sinotek Materials Co. Ltd.
  • Texpack S.R.L

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