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Carbon Felt and Graphite Felt Market Size (2024 - 2029)

The carbon felt and graphite felt market is anticipated to experience significant growth, driven by increased investments in research and development and rising demand from sectors such as batteries and semiconductors. Despite the challenges posed by the COVID-19 pandemic, which impacted production and demand, the market has shown signs of recovery. The high production costs of carbon felt fiber present a potential obstacle to growth. The Asia-Pacific region, particularly countries like India and China, holds a substantial share of the market. Additionally, the growing demand for electric vehicles is expected to offer further opportunities for market expansion.

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Market Size of Carbon Felt and Graphite Felt Industry

Carbon Felt and Graphite Felt Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 8.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Carbon Felt and Graphite Felt Market Major Players

*Disclaimer: Major Players sorted in no particular order

Carbon Felt and Graphite Felt Market Analysis

During the forecast period, the carbon felt and graphite felt market is expected to register a CAGR of over 8%.

The COVID-19 pandemic negatively affected the industry. The carbon felt and graphite felt market also witnessed its repercussions in terms of both production and demand from the end-user industries, such as iron and steel, batteries, electronics, semiconductors, etc. However, after the COVID-19 pandemic, increased demand from batteries and semiconductors helped revive the market.

  • Over the short term, the rising investments in research and development by manufacturers of carbon felt and graphite felt are expected to drive the market.
  • On the other hand, the high cost of making carbon felt fiber is likely to slow the growth of the market.
  • The Asia-Pacific region was the biggest market in the world, with countries like India and China buying the most.
  • In the coming years, rising demand for electric vehicles will create potential market opportunities.

Carbon Felt and Graphite Felt Industry Segmentation

Carbon felt and graphite felt are soft, flexible materials used for high-temperature insulation in inert gas and vacuum furnaces. The carbon felt and graphite felt market is segmented by raw material type, type, application, and geography. By raw material type, the market is segmented into polyacrylonitrile, rayon, and other raw material types. By type, the market is segmented into carbon felt and graphite felt. By application, the market is segmented into heat insulation, batteries, semiconductors, absorptive materials, and other applications. The report also covers the market size and forecasts for the carbon and graphite felt market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

Raw Material Type
Polyacrylonitrile (PAN)
Rayon
Other Raw Material Types
Type
Carbon Felt
Graphite Felt
Application
Heat Insulation
Batteries
Semiconductors
Absorptive Materials
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Carbon Felt and Graphite Felt Market Size Summary

The carbon felt and graphite felt market is poised for significant growth, driven by increasing demand from sectors such as batteries and semiconductors. Despite the initial setbacks caused by the COVID-19 pandemic, which impacted production and demand across various end-user industries like iron and steel, the market has shown resilience and is expected to expand steadily. The Asia-Pacific region, particularly countries like China and India, is anticipated to lead the market due to its burgeoning demand for electric vehicles, batteries, and semiconductors. The flexible properties of carbon and graphite felts make them ideal for high-temperature refractory insulations, which are crucial in industries such as steel manufacturing and electronics production. These materials are valued for their low density, thermal mass, and minimal ash and sulfur content, making them effective for heat insulation purposes.

The market landscape is characterized by a fragmented structure with key players including SGL Carbon, TORAY INDUSTRIES, INC., and Kureha Corporation, among others. These companies are actively investing in research and development to enhance their product offerings and expand their market presence. The demand for carbon and graphite felts is further bolstered by their application in process furnaces, which are integral to various industrial activities. The ongoing growth in global steel production and the increasing focus on energy efficiency and cost reduction in furnace operations are expected to drive the market forward. Additionally, the use of PAN-based carbon and graphite felts as electrode backings in battery designs, such as vanadium redox flow batteries, highlights their importance in the evolving energy sector. As the manufacturing of electronics, batteries, and semiconductors continues to rise in the Asia-Pacific region, the market for carbon and graphite felts is set to experience robust growth.

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Carbon Felt and Graphite Felt Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Improved Performance of Carbon Fiber in High Temperature Applications

      2. 1.1.2 The Rising Investments in Research and Development by Manufacturers in Carbon Felt and Graphite Felt

    2. 1.2 Restraints

      1. 1.2.1 High Cost Associated With Carbon Felt Manufacturing

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Raw Material Type

      1. 2.1.1 Polyacrylonitrile (PAN)

      2. 2.1.2 Rayon

      3. 2.1.3 Other Raw Material Types

    2. 2.2 Type

      1. 2.2.1 Carbon Felt

      2. 2.2.2 Graphite Felt

    3. 2.3 Application

      1. 2.3.1 Heat Insulation

      2. 2.3.2 Batteries

      3. 2.3.3 Semiconductors

      4. 2.3.4 Absorptive Materials

      5. 2.3.5 Other Applications

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Carbon Felt and Graphite Felt Market Size FAQs

The Carbon Felt and Graphite Felt Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)

SGL Carbon , TORAY INDUSTRIES, INC. , KUREHA CORPORATION , Beijing Great Wall Co.,Ltd. and Nippon Carbon Co Ltd. are the major companies operating in the Carbon Felt and Graphite Felt Market.

Carbon Felt & Graphite Felt Market Report Snapshots

Carbon Felt and Graphite Felt Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)