Carbon Felt and Graphite Felt Market: Major Takeaways
|Carbon Felt and Graphite Felt Market Research Report
|Market Size in 2022
|USD 11.1 Billion
|Market Forecast in 2030
|USD 17.1 Billion
|CAGR of 8.1%
|Number of Pages
- Our research analyst expects the global carbon felt and graphite felt market to increase 8.1% yearly from 2023 to 2030.
- The global carbon felt and graphite felt market was worth $11.1 billion in 2022 and is anticipated to reach $17.1 billion by 2030.
- Due to increased government investment for research and development by key product producers, the carbon felt and graphite felt industry is expected to grow rapidly.
- The PAN raw material segment is expected to grow the fastest over the projection period.
- Over 2023–2030, the furnace sector will drive market growth.
- Over 2023-2030, the soft felt category is expected to dominate global market share.
- North America is expected to have the greatest CAGR for carbon felt and graphite felt.
Carbon Felt and Graphite Felt Market: Overview
Carbon felt is a lightweight and adaptable material created by compressing and bonding together synthetic carbon fibers. It has a high temperature tolerance (2000 °C, or 3632 °F) and high thermal conductivity. Carbon felt can withstand extreme conditions since it is impervious to chemicals and rust. Graphite felt, on the other hand, is a product of crushed and bound graphite fibers that have been woven together. It can resist temperatures up to 3000°C (5432°F) thanks to its great thermal conductivity. Graphite felt, on the other hand, is a poor conductor of electricity and hence finds widespread use in situations calling for electrical insulation.
Market Size and Growth: Carbon Felt and Graphite Felt Market
Zion Research estimates that the global market for carbon felt and graphite felt will increase from its 2022 valuation of $11.1 Billion to reach $17.1 Billion by the end of 2030, expanding at a CAGR 8.1% between 2023 and 2030. Rising fuel cell usage in a variety of fields, including aerospace, energy, and chemicals, is fueling the market’s expansion.
The global carbon felt and graphite felt market will be driven by the increasing demand for high-performing batteries and the necessity of improving carbon fiber performance in high-temperature applications. Because the product offers high conductivity, an extended lifespan, electrochemical stability, recyclability, and reduced fire risks, it is anticipated that the market across the would increase by leaps and bounds in the years to come. The massive increase in demand for carbon felt and graphite felt in batteries may be traced back to the growing importance of grid stabilization, renewable energy, and industrial backup power.
In addition, there is a surge in government support for research and development activities by important product manufacturers, which is projected to increase the breadth of demand for carbon felt and graphite felt all over the world. Graphite felt is also a type of felt. In addition to this, carbon felt and graphite felt are both put to use in operations involving temperatures more than 20,000 degrees Celsius, as well as in vacuum furnaces.
Carbon Felt and Graphite Felt Market: Trends
The increasing need for high-temperature materials in the aerospace industry is one of the significant trends that have been observed in the carbon felt and graphite felt market. Due to its ability to withstand high temperatures, graphite felt in particular is finding widespread application in the fields of space research and satellite technology. One further trend to keep an eye on is the expanding utilization of fuel cells in a wide variety of applications, including transportation and stationary power generation. Carbon felt is an essential substance in the field of energy since it is used in fuel cells, which are an essential technology.
Carbon Felt and Graphite Felt Market: Forecast
Over the projected period, the market for carbon felt and graphite felt is expected to expand due to rising demand from a variety of end-use sectors. Demand for lightweight, high-temperature materials is likely to rise, making the aircraft industry a crucial growth driver. Fuel cells are becoming an increasingly essential source of renewable energy, thus the energy sector should also contribute to expansion. Therefore, in the approaching years, the market for carbon felt and graphite felt is anticipated to provide ample prospects for manufacturers and suppliers alike.
Carbon felt and graphite felt market: segmentation
By Raw Material Type
By Product Type
- Soft Felt
- Rigid Felt
- Carbon Felt
- Graphite Felt