Carbon and Graphite Felt Market Size & Share to Surpass $868.9 Million by 2030

WASHINGTON, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Carbon and Graphite Felt Market is valued at USD 451.6 Million in 2022 and is projected to reach a value of USD 868.9 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 9.8% over the forecast period 2022-2028.

Market Overview

The rise of the carbon felt, and graphite felt markets had been significantly driven by carbon fibber's excellent efficiency in applications that require elevated temperatures. Of this, the market for Carbon and Graphite Felt is positively influenced by the growing need for increased batteries. Additionally, due to their characteristics, such as a wide operational range, high thermal waterproofing, high stability, and ultra-light nature, carbon felt and graphite felt are widely used for high-performance batteries, positively impacting the growth of the carbon felt and graphite felt market.

We forecast that the PAN category in Carbon and Graphite Felt market sales will account for more than 59% of total sales by 2030. In several battery types, including vanadium redox flow batteries, electrode backings made of PAN-based Carbon and Graphite Felts are employed (VRB). Felts are the perfect material to meet the strict design requirements of flow battery makers due to their high conduction, excellent stability, and oxidation resistance.

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Market Dynamics

Growing Demand from Heat Insulation Support Market Expansion Due to their flexibility, Carbon and Graphite Felt are utilized in greater ceramic insulation. With temperatures exceeding around C, these felt typically employed in a vacuum and protected atmospheric settings. Due to their low densities, good thermal capacities, low ash and sulphur contents, and ease of installation, Carbon and Graphite Felt are suitable insulation materials for heat insulation. Processing burners have been used in several industrial processes, including heating fluids, vacuum distillation, and the production of gases, including ethylene, vinyl chloride monomer, and synthetic gas. Other than this, steel production is the main industry that uses a furnace.

Increased Demand for PAN-Based Raw Materials Drives the Market Growth That is mostly because they are economical. PAN-based Carbon and Graphite Felt are highly profitable because they are processed effectively and have excellent insulating qualities. Due to their excellent purity and chemical resistance, PAN-based felts are employed as electrode backings in various battery designs. These elements help this segment's worth rise, which in turn helps the market grow.

Top Players in the Global Carbon and Graphite Felt Market

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Top Trends in the Global Carbon and Graphite Felt Market

Top Report Findings

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Recent Developments in the Global Carbon and Graphite Felt Market

PAN Category in Carbon and Graphite Felt Market to Generate Over 59% Revenue For better understanding, based on the Raw Material Type, the Carbon and Graphite Felt market is divided into PAN, Rayon, and Pitch.

The PAN market was the largest by application and is anticipated to hold the top spot during the projected period. Patients with relapsed heat exchangers like pan Carbon and Graphite Felt are created and produced for various purposes, including high-temperature vacuum and inert gas furnaces. The material is rated for temperatures up to 5432°F (3000°C) in pressure or inert atmospheres. Larger diameter course fibres are used in the construction of pan, which reduces surface area and improves corrosion protection. The flexible material is less pliable and stiffer to the touch, but it performs well and costs less. Due to the object's effectiveness, simplicity of handling, and affordable pricing for heat medicine to cure applications, pan carbon felt is highly recommended by many industries.

On the other hand, the Rayon category is anticipated to grow significantly. Graphite and carbon fibres made from rayon have the beneficial qualities of being lightweight, soft, and our pas. It is mostly employed as resilient ablative substances, ultra-high temperature vacuum metallurgical equipment, insulating materials, and other structural components in aerospace. Increased body far-infrared heat is another application for it.

Asia Pacific Region in Carbon and Graphite Felt Market to Generate More 45.10% Revenue The Asia Pacific region is projected to do so in the coming years. Demand for carbon felt and graphite felt has increased due to factors including the rising demand for batteries as helpful government efforts that have expanded investments in infrastructure-friendly and energy-saving measures in nations like China and India. China's dominance in manufacturing and using corporate heating systems and furnaces further bolstered the Carbon and Graphite Felt market in the Asia Pacific area. The popularity of carbon felt, and graphite felt is anticipated to rise in China, India, and other Asian nations because of increased steel production, increased microprocessor production, government initiatives to expand manufacturing across developing countries, the presence of a large consumer base for electronic items, and the manufacturing sector of electronics, batteries, and semiconductors. Major players are concentrating their efforts on advancing technology and growing manufacturing capacity.

The North American region is expected to see the fastest growth in the Carbon and Graphite Felt market due to the region's undeveloped deposits and rising demand for Carbon and Graphite Felts. Due to this, the area is now a significant centre for producing Carbon and Graphite Felts. Canada was discovered to be the greatest producer and consumer of furnaces and heating systems.

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Carbon and Graphite Felt Market Forecast Report (2023-2030).

Global Carbon and Graphite Felt Market Segmentation

By Raw Material Type

By Type

By Application

By Product Type

By Region

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