CHICAGO, March 30, 2023 /PRNewswire/ -- The report "Carbon & Graphite Felt Market by Raw Material type (PAN, Rayon, and Pitch), Product Type (Soft Felt and Rigid Felt), Type (Carbon Felt and Graphite Felt), Application (Furnace, Batteries, and Filters), and Region - Global Forecast 2028", is estimated at USD 491 million in 2023 and is projected to reach USD 770 million by 2028, at a CAGR of 9.4% from 2023 to 2028. Carbon and graphite felts are non-woven fabrics made from carbon fiber, namely, PAN, rayon, and pitch. These non-woven fabrics, when passed through processes such as carbonizing, graphitizing, pressing, and mixing, form carbon and graphite felts.
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292 - Tables
47 - Figures
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PAN raw material segment is expected to account for largest share in 2022.
On the basis of raw material type, the global carbon & graphite felt market is segmented into PAN, rayon, and pitch. Carbon and graphite felts are produced using these materials either by the carbonization or graphitization processes at very high temperatures ranging from 3,632°F to 6,322°F. The demand for PAN-, pitch-, and rayon-based carbon & graphite felts may vary because of their different physical properties, usage in different applications, and different manufacturing processes used in their production. PAN-based carbon & graphite felt holds the largest share of the overall market.
Soft carbon & graphite felt segment held the largest market share in the market.
Based on the product type, market is segmented into soft felt and rigid felt. In 2022, soft felt segment dominated the market in terms of both, volume, and value. The soft carbon & graphite felt get widely used in the multiple areas such as heated vacuum furnaces, graphitizing furnaces, annealing furnaces, and many more.
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Asia Pacific accounted for the largest share in 2022
The carbon & graphite felt market has been studied in North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The Asia Pacific carbon & graphite felt market is being driven by growing need of renewable energy. The growing focus on the energy savings, and emission control policies along with the technological developments in then region is driving the market growth.
Market Players
Major players operating in the carbon & graphite felt market SGL Group (Germany), Toray Industries, Inc. (Japan), Kureha Corporation (Japan), Nippon Carbon Co., Ltd. (Japan), Beijing Great Wall Co., Ltd. (China), Chemshine Carbon Co., Ltd. (China), CM Carbon Co., Ltd. (China), and Gansu Haoshi Carbon Fiber Co., Ltd (China) are some of the market players.
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