Carbon Felt & Graphite Felt

Global Carbon Felt & Graphite Felt Market to Reach US$972.4 Million by 2030

The global market for Carbon Felt & Graphite Felt estimated at US$566.8 Million in the year 2024, is expected to reach US$972.4 Million by 2030, growing at a CAGR of 9.4% over the analysis period 2024-2030. PAN, one of the segments analyzed in the report, is expected to record a 10.4% CAGR and reach US$431.0 Million by the end of the analysis period. Growth in the Pitch segment is estimated at 9.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$145.5 Million While China is Forecast to Grow at 13.7% CAGR

The Carbon Felt & Graphite Felt market in the U.S. is estimated at US$145.5 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$252.6 Million by the year 2030 trailing a CAGR of 13.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.9% and 8.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.0% CAGR.

Global Carbon Felt & Graphite Felt Market – Key Trends & Drivers Summarized

What Are Carbon Felt and Graphite Felt, and Why Are They Gaining Importance?

Carbon felt and graphite felt are specialized materials made from carbon fibers, offering high thermal resistance, chemical stability, and lightweight properties. These materials are widely used in high-temperature applications, such as in thermal insulation for furnaces, batteries, and filters in the chemical and metallurgical industries. Carbon felt is produced from organic precursors like polyacrylonitrile (PAN), rayon, or pitch, and is subsequently carbonized. Graphite felt, on the other hand, is produced by graphitizing carbon felt at higher temperatures, further enhancing its electrical conductivity and heat resistance.

These felts are increasingly gaining importance due to their critical role in various advanced technologies. For instance, in energy storage applications like flow batteries, carbon and graphite felts act as electrodes, playing a key role in enhancing the efficiency and performance of energy systems. Their porous structure, high surface area, and excellent conductivity make them ideal for redox reactions in vanadium redox flow batteries (VRFBs). Additionally, their application in vacuum furnaces for high-temperature insulation has also driven demand, as they help maintain temperature consistency and reduce heat loss in extreme environments.

How Are Technological Advancements Shaping the Carbon Felt & Graphite Felt Market?

Technological advancements are driving innovations in the production and application of carbon felt and graphite felt, enhancing their properties and expanding their use in various sectors. Improvements in the fiber manufacturing process have led to the development of high-purity, high-performance felts that can withstand even more extreme conditions. For example, advancements in graphitization techniques allow for higher degrees of graphitization, which improves the material’s thermal conductivity and structural integrity. This makes graphite felt increasingly valuable in applications requiring high electrical and thermal conductivity, such as in fuel cells and heat shields.

Another key area of innovation is the development of composite felts and coatings that further enhance the functional properties of carbon and graphite felts. These new materials offer increased corrosion resistance and mechanical strength, which is especially important in harsh chemical environments. For instance, when used in fuel cells and battery systems, these coated felts improve energy efficiency and durability by maintaining the integrity of the electrode material under demanding operational conditions. As industries push for more advanced materials to meet the challenges of new technologies, these innovations are driving the adoption of carbon and graphite felts across different industries.

What Consumer and Industrial Trends Are Influencing the Carbon Felt & Graphite Felt Market?

Several industrial trends are influencing the carbon felt and graphite felt market, particularly the growing focus on renewable energy and high-performance materials in manufacturing. In the energy sector, the increasing adoption of renewable energy storage solutions, such as redox flow batteries (RFBs), is driving demand for carbon and graphite felts, which are critical to the functioning of these batteries. As governments and industries worldwide invest in sustainable energy technologies to meet carbon reduction goals, the demand for energy storage solutions, including RFBs, is expected to rise, boosting the need for advanced materials like carbon and graphite felt.

In addition to energy storage, industries such as metallurgy, aerospace, and electronics are using carbon and graphite felts for their thermal management properties. The growing use of these materials in high-temperature processing, insulation, and filtration is linked to their ability to perform in extreme environments. The automotive and aerospace sectors are increasingly looking toward these materials for heat shields and other high-performance applications where lightweight, durable, and heat-resistant materials are essential. The trend toward more lightweight and fuel-efficient materials in manufacturing is driving the growth of carbon felt and graphite felt in these industries.

Growth in the Carbon Felt & Graphite Felt Market Is Driven by Several Factors

Growth in the carbon felt and graphite felt market is driven by several factors, including the expansion of high-temperature industrial applications, advancements in energy storage technologies, and rising demand in emerging sectors like renewable energy. One of the primary growth drivers is the increasing need for energy storage systems, particularly in renewable energy projects. Redox flow batteries, in particular, rely heavily on carbon and graphite felts for their electrodes, as these materials provide the necessary conductivity and stability required for efficient energy storage and release. As the global push for renewable energy solutions continues, the market for carbon felt and graphite felt is expected to grow accordingly.

Technological advancements in material science are also expanding the applications for carbon and graphite felts. Improvements in the thermal and electrical properties of these felts are opening up new opportunities in advanced industries such as aerospace, where they are used for heat shielding, and in electronics, where they are utilized for thermal management. Another growth factor is the increasing adoption of high-performance insulation in industries such as metallurgy and chemical processing, where carbon and graphite felts are used to manage extreme temperatures and protect equipment.

Finally, growing environmental awareness and the push for cleaner, more sustainable materials are contributing to the expansion of the market. Carbon and graphite felts, which are lightweight, durable, and efficient, align with industry trends toward using materials that improve energy efficiency and reduce environmental impact. These combined factors are positioning the carbon felt and graphite felt market for significant growth in the coming years.

SCOPE OF STUDY:

The report analyzes the Carbon Felt & Graphite Felt market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Raw Material Type (PAN, Pitch, Rayon); Type (Carbon Felt, Graphite Felt); Application (Furnace, Batteries, Filters, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 47 Featured) -

• Agm/Advanced Graphite Materials
• Anshan Sinocarb Carbon Fibers Co., Ltd.
• Anssen Metallurgy Group Co., Ltd
• Beijing Great Wall Co., Ltd.
• Buffalo Felt Products Corp.
• Carbon Composites, Inc.
• Cetech Co., Ltd.
• Chemshine Carbon Co., Ltd.
• CM Carbon Co., Ltd.
• Fiber Materials Inc.
• Gansu Haoshi Carbon Fiber Co., Ltd
• Kureha Corporation
• Mersen
• Morgan Advanced Materials PLC
• Nippon Carbon Co., Ltd.
• SGL Group
• Sinotek Materials Co., Ltd.
• Svetlogorskkhimvolokno
• Texpack S.R.L.
• Toray Industries, Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs CBob geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
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EU
JAPAN
INDIA
176 OTHER COUNTRIES.

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