The new report by Expert Market Research titled, ‘Global Carbon Felt and Graphite Felt Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global carbon felt and graphite felt market, assessing the market based on its raw material, type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8.30%
The growth in the global carbon felt and graphite felt markets is induced by the rising demand from industrial applications like liquid heating, gas manufacturing, and vacuum distillation. This rise in demand can be attributed to the product’s advantageous properties, particularly its energy efficiency and cost savings. Graphite and carbon felts are ideal insulation materials because they are easy to set up, flexible, and have low sulphur and ash content.
They also have low thermal conductivity, allowing for the furnace to be heated and cooled quickly. Furthermore, the growing use of graphite and carbon felts in high-performance batteries due to their high thermal insulation, lightweight nature, and chemical stability is boosting the market.
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Carbon Felt and Graphite Felt Industry Definition and Major Segments
Carbon and graphite felt are flexible refractory materials that are perfect for high-temperature insulation. These are widely used in the cathodes and electrodes for a variety of designs of battery, as well as insulation for inert gas furnaces and vacuum furnaces.
Based on raw material, the market is divided into:
- Polyacrylonitrile (PAN)
Based on type, the industry is segmented into:
- Carbon Felt
- Graphite Felt
Based on application, the market can be categorised as:
- Heat Insulation
- Absorptive Materials
On the basis of region, the market is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Carbon Felt and Graphite Felt Market Trends
Rapidly increasing investments in R & D in carbon felt and graphite felt by manufacturers for multiple applications are also fueling the advancement of the carbon felt and graphite felt industry. The rapid expansion of the renewable energy sector is opening up new possibilities for the industry.
Factors such as increased demand for batteries and heat insulation, as well as initiatives by governments such as investing heavily in infrastructure-friendly and energy-saving strategies in nations such as India and China, have resulted in rising demand for carbon felt and graphite felt. However, the high cost of carbon felt production may function as a major restraint on the rate of growth of the carbon felt and graphite felt markets during the forecast years.
Key Market Players
The major players in the market are CGT Carbon GmbH, Morgan Advanced Material plc, Sinotek Materials Co., Ltd., Beijing Great Wall Co., Ltd., Chemshine Carbon Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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