Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.1 Billion | USD 17.1 Billion | 8.1% | 2022 |
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.
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 Research Report |
Market Size in 2022 | USD 11.1 Billion |
Market Forecast in 2030 | USD 17.1 Billion |
Growth Rate | CAGR of 8.1% |
Number of Pages | 200 |
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. |
Segments Covered | By Raw Material Type, By Product Type, By Type, By Application, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
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 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 projected to expand over 2023-2030 due to a rise in government funding for research & development activities by key product manufacturers.
According to study, the global carbon felt and graphite felt market size was $11.1 billion in 2022 and is projected to reach $17.1 billion by the end of 2030.
The global carbon felt and graphite felt market is anticipated to record a CAGR of nearly 8.4% from 2023 to 2030.
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.
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