Global Carbon Felt And Graphite Felt Market Size By Raw Material, By Type, By Geographic Scope And Forecast

Carbon Felt And Graphite Felt Market Size And Forecast

Carbon Felt And Graphite Felt Market size was valued at USD 363.00 Million in 2020 and is projected to reach USD 737.48 Million by 2028, growing at a CAGR of 9.42% from 2021 to 2028.

Increasing demand for high-performance batteries and high-efficiency furnaces are some of the major factors expected to boost demand for Carbon Felt & Graphite Felt. The automotive industry is one of the major boosters of the Carbon Felt And Graphite Felt Market. The Global Carbon Felt And Graphite Felt Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Carbon Felt And Graphite Felt Market Definition

Carbon felt is made from natural and synthetic fibers that have been carbonized, whereas graphite felt is made from carbon felt that has been graphitized. Graphite and carbon felt have distinct textile, chemical, and thermal properties. Some of the characteristics of carbon and graphite felt include thermal resistance, low thermal and electrical conductivity, low thermal expansion coefficient, low friction coefficient, low coefficient of absorption of X-rays and electrons.

Carbon and Graphite felt is a soft flexible high-temperature refractory insulation typically used in vacuum and protected atmosphere environments up to 5432℉ (3000℃). Additionally, the material can be used in oxidizing temperatures up to 752℉ (400℃). It is an ideal material for high-temperature insulation in vacuum furnaces and inert gas furnaces.

Global Carbon Felt And Graphite Felt Market Overview

The growing demand from important industrial applications such as creating gases, heating liquids, and vacuum distillation is driving the Global Carbon Felt And Graphite Felt Market forward. The favorable qualities of the product, particularly energy efficiency and cost reductions, can be linked to rising demand. Carbon and graphite felts are great insulating materials because they are easy to install, flexible, and low in ash and sulfur. These also have a low thermal conductivity, allowing the furnace to heat and cool quickly. Furthermore, because to its lightweight, high thermal insulation, and chemical stability, carbon and graphite felts are increasingly being used in high-performance batteries, which is driving the market growth.

Continuous research and development of carbon and graphite by major manufacturers is predicted to significantly contribute to industry growth in the projected period, with end-use applications in many developing industries such as crystal growing, high-pressure sintering, and others. Due to properties such as high thermal insulation, broad operational range, chemical stability, and lightweight nature, the growing adoption of carbon felt & graphite felt for high-performance batteries is expected to drive the growth of the Global Carbon Felt And Graphite Felt Market over the forecast period. Further, rising demand for products in high-temperature applications, such as vacuum furnaces or process temperatures above 2000° C, is likely to fuel the target market’s expansion throughout the forecast period.

Manufacturers growing investments in R&D in carbon felt & graphite felt for various end-use applications is likely to boost the target market’s growth over the forecast period. However, high manufacturing costs for carbon felt and graphite felt resulted in high prices, which could stifle demand and limit the Global Carbon Felt And Graphite Felt Market’s expansion throughout the forecast period. Increased acceptance of carbon felt & graphite felt has been noticed in the Global Carbon Felt And Graphite Felt Market, particularly in the power sector for energy storage systems and in the industrial sector for furnace use, and this trend is continued in the projected period.

Global Carbon Felt And Graphite Felt MarketSegmentation Analysis

The Global Carbon Felt And Graphite Felt Market are segmented on the basis of Raw Material, Type, And Geography.

Carbon Felt And Graphite Felt Market, By Raw Material

• Polyacrylonitrile (PAN)• Rayon• Other

Based on Raw Material, The global market is bifurcated into Polyacrylonitrile (PAN), Rayon, and Others. Carbon and graphite felt made from PAN are projected to have a high demand and acceptance. It’s primarily because of their cost-effectiveness. PAN-based carbon and graphite felt are easy to process and have excellent insulating qualities, making them even more economical. Because of their excellent purity and chemical resilience, PAN-based felts are employed as electrode backings in a variety of battery designs. These variables contribute to the segments increasing value and, as a result, to the expansion of the entire market.

Carbon Felt And Graphite Felt Market, By Type

• Carbon Felt• Graphite Felt

Based on Type, The global market is bifurcated into Carbon Felt and Graphite Felt. The carbon Felt segment is expected to hold a large share during the forecast period. Carbon felt is a high-temperature, flexible refractory material that is suitable for high-temperature insulation. These are commonly utilized as electrodes and cathodes in a variety of applications, including battery designs and vacuum and inert gas furnace insulation.

Carbon Felt And Graphite Felt Market, By Geography

• North America• Europe• The Asia Pacific• Rest of the world

On the basis of Geography, The Global Carbon Felt And Graphite Felt Market are classified into North America, Europe, Asia Pacific, and the Rest of the world. During the projected period, the Asia Pacific region is expected to grow its overall market share in the market. Demand for carbon felt and graphite felt has been driven by factors such as increased demand for heat insulation and batteries, as well as favorable government initiatives such as increased investments in infrastructure-friendly and energy-saving approaches in countries such as India and China. China dominates the Asia Pacific region in both production and consumption of industrial heating systems and furnaces, driving the region’s demand for carbon and graphite felts.

Key Players

The “Global Carbon Felt And Graphite Felt Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are SGL Group, Toray Industries, Inc., Kureha Corporation, Nippon Carbon Co., Ltd., Beijing Great Wall Co., Ltd., Chemshine Carbon Co., Ltd., CM Carbon Co., Ltd., and Gansu Haoshi Carbon Fiber Co., Ltd. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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