Carbon and Graphite Felt Market Share, Size, Trends, Industry Analysis Report, By Raw Material Type (PAN, Pitch and Rayon); By Product Type; By Type; By Application; By Region; Segment Forecast, 2024 - 2032

Carbon and Graphite Felt Market Share, Size, Trends, Industry Analysis Report, By Raw Material Type (PAN, Pitch and Rayon); By Product Type; By Type; By Application; By Region; Segment Forecast, 2024 - 2032

The global carbon and graphite felt market size is expected to reach USD 1092.29 million by 2032, according to a new study by Polaris Market Research. The report “Carbon and Graphite Felt Market Share, Size, Trends, Industry Analysis Report, By Raw Material Type (PAN, Pitch and Rayon); By Product Type; By Type; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The demand for carbon and graphite felt is rising globally because of its use in vital industrial applications such as vacuum distillation, gas generation, and liquid heating. Carbon and graphite felt are created by pressing, tangling, and condensing fibers together. With a variety of uses and methods, carbon and graphite felt are widely employed as electrodes and cathodes. They are also used as insulation for furnaces. Efficiency is one of the most crucial elements in the movement of energy between places or between processes. A product or piece of equipment can be shielded from the loss or impact of elements like heat or electricity by using insulation.

The industry experienced adverse effects from the COVID-19 pandemic, with the carbon and graphite felt market seeing reductions in both production and demand from key end-user industries like iron and steel, batteries, electronics, and semiconductors. Nevertheless, post-pandemic, a resurgence in demand from the batteries and semiconductor sectors has helped rejuvenate the market.

The adoption of renewable sources like solar and wind power has significantly increased electricity production in many developed nations. This growth offers benefits such as a continuous and ample energy supply, as well as environmental advantages like reduced greenhouse gas emissions. The rising demand for solar and wind energy is driving the global need for carbon and graphite felt in various applications, including flow batteries.

Carbon and Graphite Felt Market Report Highlights

The PAN segment dominated the market in 2023, driven by its excellent mechanical qualities, such as tensile strength and high modulus.

The soft felt segment led the market in 2023 and is expected to maintain its dominance due to the ease of processing carbon and graphite felts, which are most convenient for end users.

Asia Pacific holds a significant revenue share in the global carbon and graphite felt market, driven by increased usage in a variety of settings, including furnaces, batteries, and filters, backed by a combination of organized and disorganized felt producers.

The global key market players include SGL Carbon, Toray Industries, Mesen, Morgan Advanced Materials, Kureha Corporation, Nippon Carbon, Beijing Great Wall, Chemshine Carbon, and Sinotek Materials.

Polaris Market Research has segmented the carbon and graphite felt market report based on raw material, product type, type, application, and region:

Carbon and Graphite Felt Market, Raw Material Outlook (Revenue - USD Million, 2019 - 2032)

PAN

Pitch

Rayon

Carbon and Graphite Felt Market, Product Type Outlook (Revenue - USD Million, 2019 - 2032)

Rigid Felt

Soft Felt

Carbon and Graphite Felt Market, Type Outlook (Revenue - USD Million, 2019 - 2032)

Carbon Felt

Graphite Felt

Carbon and Graphite Felt Market, Application Outlook (Revenue - USD Million, 2019 - 2032)

Batteries

Filters

Furnace

Others

Carbon and Graphite Felt Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa