Increasing demand for high-performance batteries and high-efficiency furnaces are some of the major factors expected to boost demand for Carbon Felt & Graphite Felt.
JERSEY CITY, N.J., Feb. 9, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Carbon Felt And Graphite Felt Market" By Raw Material (Polyacrylonitrile (PAN), Rayon, and Others), By Type (Carbon Felt and Graphite Felt). According to Verified Market Research, the Global Carbon Felt And Graphite Felt Market size was valued at USD 363.00 Million in 2020 and is projected to reach USD 737.48 Million by 2028, growing at a CAGR of 9.42% from 2021 to 2028.
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202 - Pages
126 - Tables
37 - Figures
Global Carbon Felt And Graphite Felt Market Overview
The growing demand from important industrial applications such as creating gases, heating liquids, and vacuum distillation is driving the Global Carbon Felt And Graphite Felt Market forward. The favorable qualities of the product, particularly energy efficiency and cost reductions, can be linked to rising demand. Carbon and graphite felts are great insulating materials because they are easy to install, flexible, and low in ash and sulfur. These also have a low thermal conductivity, allowing the furnace to heat and cool quickly. Furthermore, because to its lightweight, high thermal insulation, and chemical stability, carbon and graphite felts are increasingly being used in high-performance batteries, which is driving the market growth.
Continuous research and development of carbon and graphite by major manufacturers is predicted to significantly contribute to industry growth in the projected period, with end-use applications in many developing industries such as crystal growing, high-pressure sintering, and others. Due to properties such as high thermal insulation, broad operational range, chemical stability, and lightweight nature, the growing adoption of carbon felt & graphite felt for high-performance batteries is expected to drive the growth of the Global Carbon Felt And Graphite Felt Market over the forecast period. Further, rising demand for products in high-temperature applications, such as vacuum furnaces or process temperatures above 2000° C, is likely to fuel the target market's expansion throughout the forecast period.
Manufacturers growing investments in R&D in carbon felt & graphite felt for various end-use applications is likely to boost the target market's growth over the forecast period. However, high manufacturing costs for carbon felt and graphite felt resulted in high prices, which could stifle demand and limit the Global Carbon Felt And Graphite Felt Market's expansion throughout the forecast period.
Key Players
The major players in the market are SGL Group, Toray Industries, Inc., Kureha Corporation, Nippon Carbon Co., Ltd., Beijing Great Wall Co., Ltd., Chemshine Carbon Co., Ltd., CM Carbon Co., Ltd., and Gansu Haoshi Carbon Fiber Co., Ltd.
Verified Market Research has segmented the Global Carbon Felt And Graphite Felt Market On the basis of Raw Material, Type, and Geography.
- Carbon Felt And Graphite Felt Market, By Raw Material
- Polyacrylonitrile (PAN)
- Rayon
- Other
- Carbon Felt And Graphite Felt Market, By Type
- Carbon Felt
- Graphite Felt
- Carbon Felt And Graphite Felt Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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