Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 13.03 Billion | USD 29.09 Billion | 8.36% | 2024 |
The global carbon felt and graphite felt market size was worth around USD 13.03 Billion in 2024 and is predicted to grow to around USD 29.09 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 8.36% between 2025 and 2034. The report analyzes the global carbon felt and graphite felt market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the carbon felt and graphite felt industry.
Carbon felt & graphite felt are a kind of textiles that are manufactured by condensing, matting, and pressing fibers. In addition to this, the product possesses outstanding insulating features. Reportedly, carbon and graphite felt possess a stable structure and hence have gained immense popularity. Moreover, they find extensive applications in high-performance batteries and furnaces that will help in energy conservation. In addition to this, the massive use of high-performance batteries in consumer electronics goods has translated into humungous demand for carbon & graphite felt.
Escalating need for high-performance batteries will augment the global market demand in 2023-2030
Rise in demand for high-performing batteries and the need for improving carbon fiber performance in high-temperature applications will steer the global carbon felt and graphite felt market trends. With the product offering high conductivity, elongated lifespan, electrochemical stability, recyclability, and low fire risks, the market across the is predicted to grow by leaps & bounds in the upcoming years. Need for grid stabilization, renewable energy, and industrial backup power has led to humungous demand for carbon felt & graphite felt in batteries.
Furthermore, a rise in government funding for research & development activities by key product manufacturers is likely to augment the scope of demand for carbon felt and graphite felt across the globe. In addition to this, carbon felt & graphite felt also finds its use in vacuum furnaces and in processes where temperatures exceed 20000C.
Massive prices of carbon felt & graphite felt to impede the global industry surge by 2030
Huge costs associated with the production of carbon felt as well as graphite felt are anticipated to put brakes on the global carbon felt and graphite felt industry. Moreover, manufacturing carbon felt requires high technical know-how and high-end equipment which is not easily available and this can further impede the expansion of the global industry.
Growing demand for sustainable energy to open new growth avenues for the global market
Surging renewable energy trends witnessed across the globe will open new growth avenues for the expansion of the carbon felt and graphite felt market across the globe. Apart from this, massive product penetration in high-pressure sintering, vacuum treatment, and casting will help create new growth dimensions for the global market.
Highly expensive carbon fibers can be a major challenge for the global industry surge
Need for manufacturing low-cost carbon fibers is likely to pose a huge challenge in the growth path of the global carbon felt and graphite felt industry. Moreover, due to high costs of carbon fibers have reduced its use in heat insulation applications and this is one of the key factors challenging the expansion of the industry across the globe.
The global carbon felt and graphite felt market is sectored into product type, raw material type, type, and region.
In terms of product type, the global carbon felt and graphite felt market is divided into the soft felt and rigid felt segments. Furthermore, the soft felt segment, which accounted for more than 40% of the global market share in 2022, is projected to contribute majorly towards the global market share in 2023-2030. The segmental expansion in the next eight years can be owing to exceptional structural flexibility, lightweight feature, and thermal insulation property of soft felt.
On basis of the raw material type, the global carbon felt and graphite felt industry is sectored into PAN, pitch, and rayon segments. The PAN segment, which contributed the largest share of the global industry in 2022, is set to register the highest CAGR over the forecast timeline. The growth of the segment in the upcoming years can be a result of low-costs of PAN raw materials. In addition to this, the favorable physical features of PAN make them more preferred over pitch and rayon raw materials in the production of carbon felt and graphite felt.
Based on the application, the global carbon felt and graphite felt market is segregated into furnace, filters, and batteries segments. Moreover, the furnace segment, which accounted for 75% of the global market share in 2022, is anticipated to lead the segmental growth in the years ahead. The growth of the segment over 2023-2030 can be attributed to the ability of carbon felt & graphite felt in offering heat insulation to furnaces, thereby increasing their usage in furnaces for enhancing its efficacy.
Based on the type, the carbon felt and graphite felt industry globally is sectored into carbon felt and graphite felt.
Report Attributes | Report Details |
---|---|
Report Name | Carbon Felt and Graphite Felt Market |
Market Size in 2024 | USD 13.03 Billion |
Market Forecast in 2034 | USD 29.09 Billion |
Growth Rate | CAGR of 8.36% |
Number of Pages | PagesNO |
Key Companies Covered | MERSEN GRAPHITE, Olmec Advanced Materials, Amsted Graphite Materials, SGL Group, Kureha Corporation, Toray Industries, Inc., Nippon Carbon Co., Ltd., Chemishine Carbon Company Limited, Sinotek Materials, CFCCARBON CO. LTD, Cetech Co., Ltd, and Liaoning Jingu Carbon Material Co., Ltd., and others. |
Segments Covered | By Type, By Product Type, By Grade, By Raw Material, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2024 |
Forecast Year | 2025 to 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia-Pacific Carbon Felt and Graphite Felt market to witness a mammoth growth in the forecasting timespan
The Asia-Pacific region, which accounted for two-fifths of the global market revenue share in 2022, is anticipated to dominate the regional market surge over the forecast timespan. The regional market growth over 2023-2030 is subject to a rise in demand for carbon felt & graphite felt in end-use sectors such as filters, furnaces, and batteries in India and China. In addition to this, the presence of giant players in the countries such as Indonesia, Bangladesh, China, India, and Thailand will open new growth opportunities for the market in the Asia-Pacific zone.
On the other hand, the carbon felt and graphite felt industry in North America is predicted to register the fastest CAGR in the forthcoming years. The regional market expansion over the forecast timeline can be due to the thriving automotive and electrical component sector in the countries such as the U.S. and Canada. Apart from this, the easy availability of labor at reasonable costs will further steer the regional market growth.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the carbon felt and graphite felt market on a global and regional basis.
The global carbon felt and graphite felt market profiles key players such:
By Raw Material Type
By Product Type
By Type
By Application
By Region
FrequentlyAsked Questions
Carbon felt & graphite felt are a kind of textiles that are manufactured by condensing, matting, and pressing fibers. In addition to this, the product possesses outstanding insulating features. Reportedly, carbon and graphite felt possess a stable structure and hence have gained immense popularity. Moreover, they find extensive applications in high-performance batteries and furnaces that will help in energy conservation.
The global carbon felt and graphite felt market is expected to grow due to Growing use in high-temperature insulation, batteries, and fuel cells drives demand. Renewable energy and advanced energy storage solutions support market growth.
According to a study, the global carbon felt and graphite felt market size was worth around USD 13.03 Billion in 2024 and is expected to reach USD 29.09 Billion by 2034.
The global carbon felt and graphite felt market is expected to grow at a CAGR of 8.36% during the forecast period.
The North American carbon felt and graphite felt industry is set to register the fastest CAGR over the forecasting period subject to thriving automotive and electrical component sectors in the countries such as the U.S. and Canada. Apart from this, the easy availability of labor at reasonable costs will further steer the regional market growth.
The global carbon felt and graphite felt market is led by industry players such as MERSEN GRAPHITE, Olmec Advanced Materials, Amsted Graphite Materials, SGL Group, Kureha Corporation, Toray Industries, Inc., Nippon Carbon Co., Ltd., Chemishine Carbon Company Limited, Sinotek Materials, CFCCARBON CO. LTD, Cetech Co., Ltd, and Liaoning Jingu Carbon Material Co., Ltd.
RelatedNews
HappyClients
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed