According to the latest report by IMARC Group, titled “Carbon Felt and Graphite Felt Market by Type (Carbon Felt, Graphite Felt), Product (Soft Felt, Rigid Felt), Raw Material (Polyacrylonitrile, Rayon, and Others), Application (Furnace, Batteries, Filters, and Others), and Region 2023-2028,” the global carbon felt and graphite felt market size reached US$ 462.4 Million in 2022. Carbon and graphite felt are specialized materials widely utilized in various industrial applications due to their unique properties and performance characteristics. Carbon felt is a high-performance material engineered from carbon fibers, known for its excellent thermal and electrical conductivity, as well as its resistance to extreme temperatures and corrosive environments. Similarly, graphite felt, derived from graphite fibers, offers exceptional thermal stability and chemical resistance, making it an ideal choice for demanding industrial settings. These versatile materials are commonly employed in sectors, such as aerospace, energy, metallurgy, and electronics, where their ability to withstand high temperatures, provide efficient insulation, and maintain structural integrity is crucial. Carbon and graphite felt enhances the operational efficiency and safety of equipment and systems across diverse industries.
Global Carbon Felt and Graphite Felt Market Trends:
The increasing demand for carbon and graphite felt in the energy sector, to facilitate efficient energy conversion and storage in fuel cells and batteries is one of the major factors contributing to the market growth. Additionally, the widespread product application in insulation and thermal management systems for aircraft and spacecraft is providing a considerable boost to the market growth. In addition to this, the increasing utilization of these felts in high-temperature processing environments within metallurgy and foundry industries is bolstering the market growth. Carbon and graphite felt materials maintain structural integrity and provide thermal insulation, enhancing productivity and product quality. In line with this, the rising push for lightweight and durable materials in the automotive sector to improve fuel efficiency and reduce emissions by aiding in vehicle heat management is also providing a thrust to the market growth. Furthermore, the growing focus on efficiency and sustainability, leading to innovations in the production processes and formulations, such as the development of eco-friendly variants with reduced environmental impact, along with efforts to minimize volatile organic compounds (VOCs) in these materials, is anticipated to drive the market growth. Looking forward, the market value is projected to reach US$ 817.4 Million by 2028, expanding at a CAGR of 9.70% during 2023-2028.
- Based on the type, the market has been bifurcated as carbon and graphite felt. According to the report, carbon felt represents the largest segment.
- On the basis of the product, the market has been segmented as soft and rigid felt. Among these, rigid felt accounts for the largest market share.
- Based on the raw material, the market has been classified into polyacrylonitrile, rayon, and others. According to the report, polyacrylonitrile represents the largest segment.
- On the basis of the application, the market has been divided into furnace, batteries, filters, and others. Among these, furnace accounts for the largest market share.
- Region-wise, the market has been segmented into 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 is the largest market for carbon felt and graphite felt.
- The competitive landscape of the market has also been examined, with some of the key players being 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.
|Base Year of the Analysis
||Carbon Felt, Graphite Felt
||Soft Felt, Rigid Felt
|Raw Materials Covered
||Polyacrylonitrile, Rayon, Others
||Furnace, Batteries, Filters, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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