Carbon & Graphite Felt Market by Raw Material Type (Pan-Based Carbon Felt & Graphite Felt, Pitch-Based Carbon Felt & Graphite Felt, Rayon-Based Carbon Felt & Graphite Felt), Type (Carbon Felt, Graphite Felt), Product Type, Application - Global Forecast 20

Carbon & Graphite Felt Market by Raw Material Type (Pan-Based Carbon Felt & Graphite Felt, Pitch-Based Carbon Felt & Graphite Felt, Rayon-Based Carbon Felt & Graphite Felt), Type (Carbon Felt, Graphite Felt), Product Type, Application - Global Forecast 2024-2030

The Carbon & Graphite Felt Market size was estimated at USD 768.29 million in 2023 and expected to reach USD 817.84 million in 2024, at a CAGR 7.04% to reach USD 1,237.65 million by 2030.

Carbon and graphite felt is a high-performance material used extensively in industries that require advanced thermal insulation and electrical conductivity characteristics. Carbon felt typically originates from polyacrylonitrile (PAN), rayon, or petroleum pitch, while graphite felt is further processed carbon felt that has been graphitized, achieving higher purity and enhanced electrical and thermal properties. Expanding investments in the aerospace and defense sectors and the growing need for materials having lightweight, high strength, and thermal insulation properties have fuelled the growth of carbon and graphite felt. Innovations in battery technology and the increasing adoption of electric vehicles (EVs) necessitate materials with excellent thermal management and conductivity properties, thereby fueling demand. However, market growth is challenged by high material and production costs, alongside stringent environmental regulations influencing manufacturing practices. The need for specialized labor and technological constraints in production also pose notable limitations. However, key players are exploring the integration of sustainable practices in the production of carbon and graphite felt to mitigate environmental concerns and ease the manufacturing process. Research into improving the material properties of carbon and graphite felt to enhance its performance in existing applications and advancements in composite materials that incorporate carbon and graphite felt for improved thermal and electrical performance represent promising avenues of growth for the industry.

Please Note: PDF & Excel + Online Access - 1 Year