Carbon Felt and Graphite Felt Market to Accumulate a Share Value of US$ 1.07 Billion by 2032

By the end of 2032, the carbon and graphite felt market is expected to be worth US$1.07 billion, growing at an excellent CAGR of 9.6%. The market experienced a CAGR of 7.6% from 2017 to 2021.

A rise in the need for high-performance batteries as well as the greater conductivity of carbon felt at high temperatures are driving the market’s expansion. Additionally, the rapidly increasing demand for renewable energy is opening up new market potential for producers of carbon felt and graphite felt on a global scale.

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Market Frontrunners

SGL CarbonToray Industries Inc.Kureha CorporationNippon Carbon Co. Ltd.Beijing Great Wall Co. Ltd.Advanced Graphite MaterialsAnshan Sinocarb Carbon Fibers Co. Ltd.Anssen Metallurgy Group Co. Ltd.CeraMaterialsCGT Carbon GmbHFiber Materials Inc.

Recent Developments

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

Market Buoyancy Analysis

The global carbon felt and graphite felt market is currently valued at US$ 429.5 million, after having witnessed 7.6% CAGR over the period of 2017-2021.Under the raw material segment, PAN dominates the market with 46.9% market share, and is projected to rise at 9.6% CAGR during the forecast years.Under the type segment, carbon felt dominates the market and is projected to expand at a CAGR of 9.7% to exceed a valuation of US$ 686 million by the end of 2032.Under the application segment, furnaces lead the market, with demand projected to increase at a CAGR of 10.6% to reach a valuation of US$ 455.9 Million by 2032.Based on region, demand for carbon felt and graphite felt is expected to increase at higher CAGRs of 10.4% and 10.7% in East Asia and South Asia & Oceania, respectively, over the forecast period.Together, North America and Europe are likely to represent 59.5% of the overall market share in 2022.

Industry Survey

By Raw Material:PANPitchRayonBy Type:Carbon FeltGraphite FeltBy Application:FurnacesBatteriesFiltersOther ApplicationsBy Region:North AmericaLatin AmericaEuropeEast AsiaSouth Asia & OceaniaMEA

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