Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.1 Billion | USD 17.1 Billion | 8.1% | 2022 |
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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