Carbon Felt and Graphite Felt Market – Driven by Cost

USA, Rockville MD, June 6, 2022 (GLOBE NEWSWIRE) — : Fact.MR, a market research and competitive intelligence provider, reveals that the global carbon felt and graphite felt market is set to expand at an impressive CAGR of 9.6% to reach a valuation of 1.07 billion by the end of 2032. The market recorded a CAGR of 7.6% during the period 2017-2021.

Rising demand for high performance batteries along with superior conduct of high temperature carbon felt are factors increasing the growth of the market. Additionally, the rapidly growing demand for renewable energy is creating new opportunities for carbon felt and graphite felt manufacturers in the global market.

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Carbon felt and graphite felt are used in high temperature refractory insulation due to their flexible properties and in high performance batteries and ovens for energy saving purposes. These materials are produced by matting, condensing and pressing fibers and have structural stability, high insulating properties and are also cost effective.

Europe follows with a market share of 26.5% thanks to moderate growth in the automotive and electrical components sectors. The European carbon felt and graphite felt market is expected to grow at a CAGR of 8.3% during the forecast years 2022-2032.

How is the Carbon Felt and Graphite Felt Market in Asia Pacific?

“Asia-Pacific market growth driven by India and China”

The carbon felt and graphite felt market in Asia-Pacific accounts for 29% of the global market share. The East Asia and South Asia & Oceania markets are expected to record very high CAGRs of 15.6% and 13.4%, respectively, over the decade.

This strong market growth is attributed to the escalating demand for environmentally friendly products such as batteries and the emphasis on emission control in these regions. Emerging economies such as India and China are poised to hold high market shares in these regions in the coming years.

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Key segments covered by the Carbon felt and graphite felt Industry survey

  • Carbon Felt and Graphite Felt Market by Raw Material:
  • Carbon Felt and Graphite Felt Market By Type:
  • Carbon Felt and Graphite Felt Market by Applications:
    • Ovens
    • Battery
    • Filters
    • Other Apps

Competitive landscape
The major players in the market are focusing on introducing lightweight products which have few impurities, excellent oxidation resistance and also outstanding chemical and heat resistance.

  • Toray Industries Inc. acquired SK Chemicals in 2021. This acquisition is expected to mark the company’s entry into the carbon fiber composite materials market.
  • Fiber Materials Inc. was acquired by Spirit AeroSystems in 2020. This acquisition is in line with the company’s strategic growth objectives and will lead to the diversification of its customer base.

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The key players in the Carbon felt and graphite felt Market

  • Carbon SGL
  • Toray Industries Inc.
  • Kureha Company
  • Nippon Carbon Co. Ltd.
  • Beijing Great Wall Co. Ltd.
  • Advanced graphite materials
  • Anshan Sinocarb Carbon Fibers Co.Ltd.
  • Anssen Metallurgy Group Co. Ltd.

Main takeaways from Carbon felt and graphite felt Market research

  • The global carbon felt and graphite felt market is currently valued at US$429.5 million, having experienced a CAGR of 7.6% over the period 2017-2021.
  • In the raw materials segment, PAN dominates the market with 46.9% market share and is expected to grow at 9.6% CAGR over the forecast years.
  • In the type segment, carbon felt dominates the market and is expected to expand at a CAGR of 9.7% to exceed a valuation of $686 million by the end of 2032.
  • In the application segment, ovens dominate the market, the demand is expected to grow at a CAGR of 10.6% to reach a valuation of US$455.9 million by 2032.
  • Depending on the region, demand for carbon felt and graphite felt is expected to grow at higher CAGRs of 10.4% and 10.7% in East Asia and South Asia & Oceania, respectively, during of the forecast period.
  • Together, North America and Europe are expected to account for 59.5% of the overall market share in 2022.

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