Carbon Felt and Graphite Felt Market Size, Share, Trends, Growth 2030

Carbon Felt and Graphite Felt Industry Perspective:

The global carbon felt and graphite felt market size was evaluated at $11.1 Billion in 2022 and is slated to hit $17.1 Billion by the end of 2030 with a CAGR of nearly 8.1% between 2023 and 2030.

The market report offers market basket analysis, porter five force analysis, PESTEL analysis, SWOT analysis, market attractiveness analysis, and value chain analysis. We also include factor analysis, key drivers, market restraints, challenges, and opportunities available in the global carbon felt and graphite felt market. We provide comprehensive information and an overview of each player in the global market along with benchmarking adopted by these players to stay ahead of the competition.

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Carbon Felt and Graphite Felt Market: Overview

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.

Key Insights

• As per the analysis shared by our research analyst, the global carbon felt and graphite felt market is projected to expand annually at the annual growth rate of around 8.1% over the forecast timespan (2023-2030)
• In terms of revenue, the global carbon felt and graphite felt market was evaluated at nearly $11.1 billion in 2022 and is expected to reach $17.1 billion by 2030.
• The carbon felt and graphite felt industry is anticipated to record massive growth over the forecast period owing to a rise in government funding for research & development activities by key product manufacturers.
• Based on raw material type, the PAN segment is predicted to record the fastest CAGR over the forecast timeline.
• In terms of application, the furnace segment is slated to contribute majorly towards the market growth over 2023-2030.
• On basis of product type, the soft felt segment is predicted to make major contributions towards the global market share over 2023-2030
• Region-wise, the North American carbon felt and graphite felt market is projected to register the highest CAGR during the assessment period.

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Carbon Felt and Graphite Felt Market: Growth Factors

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.

Carbon Felt and Graphite Felt Market: Hindrances

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.

Carbon Felt and Graphite Felt Market: Opportunities

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.

Carbon Felt and Graphite Felt Market: Challenges

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.

Carbon Felt and Graphite Felt Market: Segmentation

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.

Recent Breakthroughs

• In the third quarter of 2021, SGL Carbon SE, a German-based firm in carbon producing business, is expanding its soft felt product portfolio. The firm is likely to invest in expanding its carbon manufacturing facilities in Germany. This initiative will boost the expansion of carbon felt ad graphite felt production in Germany.  
• In the second half of 2019, Toray Industries, Inc., a key leader in manufacturing low-cost industrial-grade carbon fibers, declared that it will extend its carbon felt product line for improving power storage applications. The move will boost the expansion of the carbon felt and graphite felt business across the globe.
• In the third quarter of 2022, SGL Carbon SE announced that it will expand its graphite-producing capacity in China, Germany, and the U.S. for using it in semiconductors. The move will promote the demand for carbon felt and graphite felt in Asia, North America, and Europe.

Carbon Felt and Graphite Felt Market: Report Scope

Carbon Felt and Graphite Felt Market: Regional Insights

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.

Carbon Felt and Graphite Felt Market: Competitive Space

The global carbon felt and graphite felt market profiles key players such:

• 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
• Liaoning Jingu Carbon Material Co. Ltd.

The global carbon felt and graphite felt market is segmented as follows:

By Raw Material Type

• PAN
• Pitch
• Rayon

By Product Type

• Soft Felt
• Rigid Felt

By Type

• Carbon Felt
• Graphite Felt

By Application

• Furnace
• Batteries
• Filters

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa