Carbon Felt and Graphite Felt Market

Market Overview:

The global carbon felt and graphite felt market size reached US$ 508.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,080.3 Million by 2032, exhibiting a growth rate (CAGR) of 8.47% during 2024-2032. The increasing product demand for heat insulation, the growing demand for energy storage systems, and extensive research and development (R&D) activities represent some of the key factors driving the market.

Carbon and graphite felt are flexible high-temperature refractory materials produced when fibers are pressed, tangled, and condensed collectively. They are structurally stable, easy to install, have high thermal resistance, negligible outgassing, and low density. They are commonly used as electrodes and cathodes with a wide range of applications, including various battery designs and insulation for vacuum and inert gas furnaces. Carbon felt and graphite felt materials are ideal for intense temperature insulation as they exhibit high stability with low shrinkage, thermal resistance, low thermal and electrical conductivity, and high thermal stability. They are lightweight, flexible, durable, easy to cut, and resistant to chemicals, high temperatures, and corrosion. As a result, carbon felt and graphite felt are extensively used in optic fibers, automotive exhaust lining, furnaces, and heat shields.

Carbon Felt and Graphite Felt Market Trends:

The increasing product demand for heat insulation across the globe is creating a positive outlook for the market. Carbon and graphite felts are used in high-temperature refractory insulations in a vacuum and protected atmospheric environments owing to their flexible properties. In line with this, the widespread product utilization in furnaces used in several industrial activities, including heating fluids, vacuum distillation, or manufacturing of gases, such as ethylene, vinyl chloride monomer, and synthetic gas, is favoring the market growth. Moreover, the rising demand for carbon and graphite felt in the automotive industry as they are good heat insulators is acting as another growth-inducing factor. Apart from this, manufacturers are focusing on the use of polyacrylonitrile (PAN)-based carbon, and graphite felts that are used as electrode backings in various battery designs due to their high purity, chemical resistance, and high insulating properties are providing an impetus to the market growth. Additionally, the increasing product utilization as anodes and cathodes due to the growing demand for energy storage systems is propelling the market growth. Furthermore, the widespread product adoption for high-performance batteries, owing to their broad operational range, high thermal insulation chemical stability, and lightweight nature characteristics, is positively influencing the market growth. Besides this, key players are focusing on combing carbon and graphite felts with nanoparticles to enhance their efficiency and properties, which, in turn, is driving the market growth. Other factors, including the widespread product adoption in the electronic component manufacturing sector, extensive research and development (R&D) activities on improving the performance and sustainability of carbon felt and graphite felt products, and the implementation of various government initiatives and investments for infrastructural development, are supporting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global carbon felt and graphite felt market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, product, raw material, and application.

Type Insights:

• Carbon Felt
• Graphite Felt
   

The report has provided a detailed breakup and analysis of the carbon felt and graphite felt market based on the type. This includes carbon and graphite felt. According to the report, carbon felt represented the largest segment.

Product Insights:

• Soft Felt
• Rigid Felt
   

A detailed breakup and analysis of the carbon felt and graphite felt market based on the product has also been provided in the report. This includes soft and rigid felt. According to the report, rigid felt accounted for the largest market share.

Raw Material Insights:

• Polyacrylonitrile
• Rayon
• Others
   

The report has provided a detailed breakup and analysis of the carbon felt and graphite felt market based on the raw material. This includes polyacrylonitrile, rayon, and others. According to the report, polyacrylonitrile represented the largest segment.

Application Insights:

• Furnace
• Batteries
• Filters
• Others
   

A detailed breakup and analysis of the carbon felt and graphite felt market based on the application has also been provided in the report. This includes furnace, batteries, filters, and others. According to the report, furnace accounted for the largest market share.

Regional Insights:

• 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
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for carbon felt and graphite felt. Some of the factors driving the Asia Pacific carbon felt and graphite felt market included widespread product adoption in the electronic component manufacturing sector, extensive research, and development (R&D) activities and significant technological advancements.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global carbon felt and graphite felt market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global carbon felt and graphite felt market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global carbon felt and graphite felt market?
• What is the impact of each driver, restraint, and opportunity on the global carbon felt and graphite felt market?
• What are the key regional markets?
• Which countries represent the most attractive carbon felt and graphite felt market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the carbon felt and graphite felt market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the carbon felt and graphite felt market?
• What is the breakup of the market based on the raw material?
• Which is the most attractive raw material in the carbon felt and graphite felt market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the carbon felt and graphite felt market?
• What is the competitive structure of the global carbon felt and graphite felt market?
• Who are the key players/companies in the global carbon felt and graphite felt market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the carbon felt and graphite felt market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global carbon felt and graphite felt market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the carbon felt and graphite felt industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.