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Base Year
Historical Year
Forecast Year
Global Carbon Felt and Graphite Felt Market Report Summary | Description | Value |
Base Year | USD Million | 2023 |
Historical Period | USD Million | 2018-2023 |
Forecast Period | USD Million | 2024-2032 |
Market Size 2023 | USD Million | XX |
Market Size 2032 | USD Million | XX |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 8.3% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 9.6% |
CAGR 2024-2032 - Market by Country | India | 11.0% |
CAGR 2024-2032 - Market by Country | China | 9.2% |
CAGR 2024-2032 - Market by Raw Material | Polyacrylonitrile (PAN) | 9.3% |
CAGR 2024-2032 - Market by Application | Batteries | 9.5% |
Market Share by Country 2023 | India | 3.6% |
Carbon felt and graphite felt is a flexible high-temperature refractory material ideal for intense temperature insulation. These are commonly used as electrodes and cathodes with a wide range of applications, including various battery designs and insulation for vacuum and inert gas furnaces.
The carbon and graphite felt market dynamics and trends are being driven by their exceptional advantages. Carbon felt provides excellent thermal insulation, it is lightweight, flexible, and resistant to chemicals, while graphite felt stands out for its superior thermal and electrical conductivity, durability at extreme temperatures, and corrosion resistance. Both materials are essential in high-temperature and specialized sectors such as aerospace and electronics.
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The Asia Pacific region is expected to significantly drive the carbon felt and graphite felt industry revenue. Factors like high demand for heat insulation and batteries and favourable government initiatives, with increased investments in infrastructure-friendly and energy-saving approaches in countries like India and China, have led to the increased demand for the carbon felt and graphite felt market.
In the Asia Pacific region, China leads in both the production and consumption of industrial heating systems and furnaces, further reinforcing the carbon felt and graphite felt market demand in this region.
According to USITC and USDOC data, in 2021, the U.S. imported USD 62,050 million worth of semiconductors. Malaysia was the largest importer with USD 19,213 million (31%), followed by Taiwan at USD 11,973 million (19.3%), and South Korea at USD 10,099 million (16.3%). Vietnam provided USD 5,216 million (8.4%), while China imported USD 3,092 million (5%). The Philippines and Thailand contributed USD 2,678 million (4.3%) and USD 1,491 million (2.4%) to the market, respectively. Japan's imports totalled USD 996 million (1.6%), while the rest of the world accounted for USD 7,290 million (11.7%). These contributions significantly drive the carbon felt and graphite felt market revenue as both materials excel under high temperatures, making them ideal for semiconductor fabrication processes that need precise thermal management.
According to BP Energy, North America's renewable energy consumption increased from 6.52 exajoules in 2019 to 7.04 exajoules in 2020. The United States was the primary driver of this growth, with consumption rising from 5.71 exajoules in 2019 to 6.15 exajoules in 2020, a 7.4% annual growth rate. Canada's consumption grew from 0.51 to 0.54 exajoules, reflecting a 4.1% growth rate. Mexico saw the highest growth rate in the region, with a 19.9% increase from 0.30 exajoules in 2019 to 0.36 exajoules in 2020.
In 2020, Europe's renewable energy consumption increased from 8.24 exajoules in 2019 to 8.94 exajoules, an 8.2% rise. Germany led with 2.21 exajoules, up 4.7% from 2.10 in 2019. The UK followed, with consumption rising from 1.07 to 1.20 exajoules, a 9.9% increase. France's consumption grew from 0.63 to 0.68 exajoules, a 7.5% rise. Italy saw a 2.6% increase, from 0.65 to 0.67 exajoules. Spain's consumption grew from 0.73 to 0.77 exajoules, a 4.8% increase. Sweden's consumption increased from 0.36 to 0.41 exajoules, marking a 14% rise and accounting for 1.3% of the total. This growth contributes to the carbon felt and graphite felt industry revenue, as these materials offer exceptional thermal insulation that is vital for improving the efficiency of renewable energy systems by reducing heat loss.
CAGR 2024-2032 - Market by | Country |
India | 11.0% |
China | 9.2% |
Canada | 8.6% |
Germany | 6.8% |
Italy | 5.8% |
USA | XX% |
UK | XX% |
France | XX% |
Japan | 5.7% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
CGT Carbon GmbH
Morgan Advanced Material plc
Sinotek Materials Co., Ltd.
Chemshine Carbon Co., Ltd.
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“Global Carbon Felt and Graphite Felt Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Raw Material
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
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The growth of the carbon felt and graphite felt industry brings notable advantages for heat insulation and battery applications. For heat insulation, these materials deliver excellent thermal efficiency, withstand high temperatures, and offer flexibility, effectively reducing heat loss and boosting energy efficiency.
In batteries, graphite felt enhances energy transfer with its superior electrical conductivity, while both materials provide essential thermal stability and durability for optimal performance and safety. Their resistance to chemicals and long-term stability also enhance the reliability and lifespan of batteries, driving increased carbon felt and graphite felt demand growth.
The companies specialise in advanced ceramics, carbon, and graphite materials, offering high-performance solutions for aerospace, energy, and healthcare, with a focus on innovation and efficiency.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global carbon felt and graphite felt market value is projected to grow at a CAGR of 8.30% between 2024 and 2032.
The major drivers propelling the industry forward include the favourable properties of the product particularly energy efficiency and cost reductions, increasing utilisation of carbon and graphite felts in high-performance batteries, favourable government initiatives, and increased investments in infrastructure-friendly and energy-saving approaches.
The increasing demand from major industrial applications, such as manufacturing gases, heating liquids, and steady research and development projects of carbon and graphite by major manufacturers are the key trends propelling the market growth.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market is divided into polyacrylonitrile (PAN), rayon and others.
Based on type, the market is segmented into carbon felt and graphite felt.
The market is broken down into heat insulation, batteries, semiconductors, absorptive materials, and others.
The competitive landscape consists of CGT Carbon GmbH, Morgan Advanced Materials plc, Sinotek Materials Co., Ltd., Beijing Great Wall Co. Ltd., and Chemshine Carbon Co., Ltd., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Raw Material |
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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