Carbon Felt & Graphite Felt Market

Carbon Felt & Graphite Felt Market Size (2023-2028):

The carbon felt & graphite felt the market was valued at USD 450.8 million in 2022 and is anticipated to grow at a CAGR of 9.2% to reach a value of USD 750.9 million by 2028.

Graphite is a naturally occurring mineral derivative of carbon. It is soft and flexible, usually in hexagonal shape, in black or greyish color. Graphite and Carbon products are valued for their physical and chemical properties such as chemically inert, low thermal and electrical conductivity, low friction coefficient, low thermal expansion coefficient, thermal resistance, and low coefficient of absorption of X-rays and electrons.

Carbon Felt and Graphite Felt are the materials used for high-temperature insulation in vacuum furnaces and inert gas furnaces. It is soft and flexible basically used in oxidizing temperatures up to 752℉ (400 °C). Additionally, the material is also used in vacuum and protected environments up to 5432℉ (3000℃).

Carbon Felt & Graphite Felt Market Drivers:

The changes in the market for furnaces due to enhanced energy efficiency and cost reductions are creating a demand for carbon and graphite felts as they are largely applied in Furnace insulation. The inner chamber of the Furnace is lined up with Carbon or Graphite Felt to insulate it, which reduces the capital investment needed for temperature maintenance and energy efficiency. Carbon & Graphite Felt is used in the automotive industry as they are the best insulators of heat. The increasing sales of the new vehicles and the rising on-road vehicle fleet are projected to fuel the growth of the carbon felt and graphite felt market globally.

With the increasing electronics component manufacturing industry Graphite & Carbon Felt is expected to grow as manufacturing electronic components needs heat insulation to retain their efficiency. The higher efficiency and enhanced power of carbon fiber in high-temperature applications have significantly driven the expansion of the carbon felt and graphite felt markets. The focus on the Research and development activities by the major key players for several end-user applications is boosting the growth of the Carbon & Graphite Felt Market. Carbon & Graphite Felt is also used in the manufacturing of high-performance batteries because of their properties such as broad operational range, high thermal insulation chemical stability, and lightweight nature. Hence, the increasing demand for high-performance batteries is flourishing the demand for the Carbon and Graphite felt Market.

Carbon Felt & Graphite Felt are easy to cut and install. They are in high demand because of their properties such as low density, high thermal mass, and low thermal resistance. Furthermore, the Graphite Felt and Carbon Felt market is expanding because of additional qualities including low ash and Sulphur content, no outgassing Feature, and no Electrostatic Charging. The above-mentioned outstanding features of the Carbon and Graphite Felt is flourishing the growth of the Global Carbon Felt & Graphite Felt Market.

Carbon Felt & Graphite Felt are applied in various industrial activities such as in Furnace insulation & parts, Heat shields & sinks, backing strips for soldering & welding, Cathode in flow battery applications, Reaction surfaces for other electrochemical processes, Glass blowing pads & plumber pads, Wicks in ultralight stoves, Automotive exhaust linings, and Thermal insulators. The various applications of Carbon Felt & Graphite Felt are boosting the demand for them during the forecast period.

Carbon Felt & Graphite Felt Market Restraints:

The fabrics of Carbon Felt and Graphics Felt are expensive. The high cost incurred with the Carbon Felt and Graphics Felt may hinder the growth of the market to a certain extent. In addition to this, the lack of quality control in developing economies may constrain the growth of the Carbon Felt and Graphics Felt market to some extent.

CARBON FELT & GRAPHITE FELT MARKET REPORT COVERAGE:

Carbon Felt & Graphite Felt Market Segmentation:

Carbon Felt & Graphite Felt Market - By Raw Material Type:

• PAN

• Pitch

• Rayon

Based on raw material type, the PAN-based Carbon & Graphite Felt segment is expected to grow at a significant rate with the largest market share during the forecast period.  PAN Carbon and Graphite Felt, is premium insulation for vacuum and protective gas furnaces with a maximum temperature tolerance of up to 3000°C. The soft PAN Carbon and Graphite Felt with a very homogeneous structure acquire certain characteristics like High thermal stability, low heat conductivity, and unique thermal properties. It is a more affordable substitute for the Rayon Carbon & Graphite Felt which is appropriate for most applications. PCF quality is a more affordable alternative to PGF grade for applications where chemical purity is not essential. PAN felts are excellent as electrodes since they can be activated for use in redox flow batteries. The above-mentioned properties of PAN-based Carbon & Graphite Felt is resulting in the highest demand for this segment.

Carbon Felt & Graphite Felt Market - By Product Type:

• Soft Felt

• Rigid Felt

Rigid Felt is holding a significant share in the Carbon & Graphite Felt market as they are largely used in large-scale applications in batteries and furnaces. Hard graphite felt is a dimensionally stable insulation material comprised of graphite fibers and a carbon-based binder. Since its carbonization and graphitization are done in such a way that hard felt can withstand temperatures of up to 2,800°C. Self-supporting plates, hollow cylinders, and customer-specific geometries are the main products made from this material. The primary application of hard felt is in the construction of high-temperature kilns. On the other hand, Soft Felts possesses a great degree of flexibility and is simple to process. Due to its high geometric adaptability, it is possible to implement even the most complicated designs for insulating mostly any system design. Punching also enables the mass production of specialized shapes. Through chemical vapor infiltration or CVI, soft felts can be stabilized and made into self-supporting structures with carbon. The widespread use of Soft Felts and Hard Felts is fueling the growth of the Carbon & Graphite Felt Market.

Carbon Felt & Graphite Felt Market - By Type:

• Carbon Felt

• Graphite Felt

The temperature of carbon fiber felt is similar to that of carbon fiber, which is carbonized at a temperature of around 1000 °C and has a carbon content of about 90% after being manufactured into a material. On the other hand, graphite fiber is created when carbon fiber felt is heated to more than 2000 °C in an oxygen-free environment. After manufacture, the carbon content of carbon fiber felt can increase to more than 99 percent, and the temperature of graphite felt can increase to 2000°C. the ash content and the volume density of the Carbon Felt are higher when compared to Graphite Felt.

Carbon Felt & Graphite Felt Market - By Application:

• Furnace

• Batteries

• Filters

• Others

Based on application the Batteries segment is expected to grow at a substantial rate. The Carbon & Graphite Felt material is used in batteries for higher performance of the battery. The high conductivity, high purity, and chemical resistance of the Carbon & Graphite felt make them appropriate for the developers to make the battery according to the demanded design. The Furnace segment is likely to possess a significant market share due to improved energy efficiency and cost savings, the market for furnaces is changing, which is increasing demand for carbon and graphite felts since they are used primarily in furnace insulation.

Carbon Felt & Graphite Felt Market - By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East

• Africa

The Asia-Pacific region is anticipated to dominate the markets for Carbon and Graphite Felt because of the rising need for batteries, thermal insulation, and carbon and graphite felt in nations like China, India, and Japan. This can be ascribed to the fact that the area is experiencing rising steel production along with rising semiconductor manufacturing. PAN-based carbon and graphite felts are employed as electrode backings in a number of battery types, including vanadium redox flow batteries (VRB). Felts are the perfect material to meet the demanding design requirements of flow battery developers due to their high conductivity, high purity, and chemical resistance. Additionally, due to the increasing government initiatives and huge consumer base for the development of batteries, electronics, and semiconductors in the region is flourishing the growth of the Carbon Felt & Graphite Felt market.

Recent Developments in Carbon Felt & Graphite Felt Market:

• In May 2021, Troy Industries developed a high thermal conductivity technology that raises the heat-dissipating properties of carbon fiber-reinforced plastic (CFRP) to those of metals. This technology will aid in the suppression of battery degradation in mobility applications thereby enhancing the performance of the applications of electronic devices.

• In July 2021, SGL Carbon announced that it is expanding and modernizing its business of Soft felt production. The company has invested a single-digit million euros, into an additional carbonization facility at its Meitingen site near Augsburg, Germany, in the last two years.

Carbon Felt & Graphite Felt Market Key Players

1. SGL Carbon

2. Toray Industries Inc.

3. Beijing Great Wall Co. Ltd.

4. Kureha Corporation

5. Nippon Carbon Co Ltd.

6. CM Carbon

7. CFC Carbon Co. Ltd

8. CeraMaterials

9. Sinotek Materials Co. Ltd.

10. Texpack S.r.l.

11. Buffalo Felt Products Corporation

12. Chemshine Carbon Co., Ltd.

13. Fuel Cell Store

14. Carbon Composites, Inc.

15. Cetech Co., Ltd.

16. Amsted Graphite Materials

17. Anssen Metallurgy Group Co., Ltd.

18. Liaoning Jingu Carbon Material Co., Ltd.

19. Olmec Advanced Materials

20. Mersen Graphite