雅虎香港財經 Carbon and Graphite Felt Market Size & Share to Surpass $868.9 Million by 2030 | Vantage Market Research
WASHINGTON, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Carbon and Graphite Felt Market is valued at USD 451.6 Million in 2022 and is projected to reach a value of USD 868.9 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 9.8% over the forecast period 2022-2028.
Market Overview
The rise of the carbon felt, and graphite felt markets had been significantly driven by carbon fibber’s excellent efficiency in applications that require elevated temperatures. Of this, the market for Carbon and Graphite Felt is positively influenced by the growing need for increased batteries. Additionally, due to their characteristics, such as a wide operational range, high thermal waterproofing, high stability, and ultra-light nature, carbon felt and graphite felt are widely used for high-performance batteries, positively impacting the growth of the carbon felt and graphite felt market.
We forecast that the PAN category in Carbon and Graphite Felt market sales will account for more than 59% of total sales by 2030. In several battery types, including vanadium redox flow batteries, electrode backings made of PAN-based Carbon and Graphite Felts are employed (VRB). Felts are the perfect material to meet the strict design requirements of flow battery makers due to their high conduction, excellent stability, and oxidation resistance.
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Market Dynamics
Growing Demand from Heat Insulation Support Market Expansion
Due to their flexibility, Carbon and Graphite Felt are utilized in greater ceramic insulation. With temperatures exceeding around C, these felt typically employed in a vacuum and protected atmospheric settings. Due to their low densities, good thermal capacities, low ash and sulphur contents, and ease of installation, Carbon and Graphite Felt are suitable insulation materials for heat insulation. Processing burners have been used in several industrial processes, including heating fluids, vacuum distillation, and the production of gases, including ethylene, vinyl chloride monomer, and synthetic gas. Other than this, steel production is the main industry that uses a furnace.
Increased Demand for PAN-Based Raw Materials Drives the Market Growth
That is mostly because they are economical. PAN-based Carbon and Graphite Felt are highly profitable because they are processed effectively and have excellent insulating qualities. Due to their excellent purity and chemical resistance, PAN-based felts are employed as electrode backings in various battery designs. These elements help this segment's worth rise, which in turn helps the market grow.
Top Players in the Global Carbon and Graphite Felt Market
Mersen (France)
HP Materials Solutions Inc. (U.S.)
CGT Carbon Gab (Germany)
Carbon Composites Inc. (U.S.)
Kureha Corporation (Japan)
Nano shell LLC (U.S.)
Saginaw Carbon (U.S.)
Allied Metallurgy Resources LLC (India)
Beijing Great Wall Co. (China)
Olmec Advance Materials Ltd. (South Yorkshire, UK)
SGL Carbon SE (Germany)
Caiden Graphite Products Ltd (UK)
Bay Carbon Inc (Michigan, U.S.)
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Top Trends in the Global Carbon and Graphite Felt Market
One trend that Vantage Market Research (VMR) expects to see in the Carbon and Graphite Felt industry is the rising demand from industrial applications. The growing demand from significant industrial applications, including the production of gases, the heating of liquids, and vacuum distillation, propel the global market for carbon felt and graphite felt. This rising demand may be attributed to the product's advantages, particularly cost and energy effectiveness. The low ash and sulphur content, flexibility, and ease of installation of the Carbon and Graphite Felt make them excellent insulating solutions. They also offer poor thermal conductivity, which enables the furnace to heat and cool more quickly. Furthermore, the growing use of Carbon and Graphite Felts in high-performance batteries due to their chemical stability, excellent thermal insulation, and lightweight is significantly boosting the market's growth.
Another trend that VMR predicts will continue in the Carbon and Graphite Felt industry is its increasing demand for automotive. Due to its strong corrosion-resistant capability, carbon felt is widely utilized in automobile exhaust lining applications such as cars, two-wheelers, and trucks. Global demand for these vehicles is growing, which would necessitate the use of widely affected felt material, fuelling market expansion throughout the projection period. Massive expansion in the automotive industry will raise demand for automotive exhaust lining applications, leading to a high requirement for carbon felt, propelling market growth throughout the projection period.
Top Report Findings
Based on the Raw Material Type, the PAN category controls most of the Carbon and Graphite Felt market's revenue. Shows gradual, also known as pan, has strong heat resistant qualities and is simple to cut and install. Graphite and pan-based charcoal felt is widely utilized in battery and thermal insulation applications. The study found that the outcome was significant since pan-based carbon felt was optimized for vanadium redox flow batteries to work at their best (VRFBs). The demand for pan-based material will rise due to this widespread utilization in the Carbon and Graphite Felt markets during the projection period.
The Carbon Felt category controls most of the Carbon and Graphite Felt market's revenue based on type. Superior characteristics of carbon felt are its lighter weight, chemical resistance, and durability. This material is extensively used for battery applications, rubber gaskets, automobile emissions lines, etc. Market participants and research organizations actively use carbon felt due to its many applicability and exceptional qualities.
Based on Applications, most of the Carbon and Graphite Felt market's revenue is controlled by the furnaces felt category. The market growth is anticipated to benefit from increased demand from the steel production industry. Due to the rising use of powered mobility and clean energy sources like solar and wind power, batteries are expected to experience considerable growth over the forecast period. Over the next nine years, rising R&D expenditures on electric car technology will be predicted to increase product demand worldwide.
Based on Product Type, the Soft Felt category controls most of the Carbon and Graphite Felt market's revenue. This product type has customizable insulating features that suit increased furnace applications. Due to these excellent properties, market participants are expanding their selection of soft felt. A form of graphite felt called Soft Felt is produced using premium raw materials. It is made to be utilized in various situations where strength and heat resistance are needed. Soft Felt is offered in various densities and widths to fulfil each application's unique requirements. Many things, such as furnaces, chargers, filters, and other things, employ soft felt.
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Recent Developments in the Global Carbon and Graphite Felt Market
In June 2022, Toray Industries Inc. said that it intended to establish the Environment and Mobility Development Centre in Nagoya, Aichi Prefecture, and Otsu, Shiga Prefecture. The corporation will be able to improve sales and marketing operations in those areas by strengthening the capabilities of the Corporate Marketing Planning Division with the aid of the development centre.
In August 2021, SGL Carbon Corporation announced its intention to increase production capabilities for graphite products for use in the semiconductor industry at the Shanghai (China), St. Marys (USA), and Meiningen (Germany) locations.
PAN Category in Carbon and Graphite Felt Market to Generate Over 59% Revenue
For better understanding, based on the Raw Material Type, the Carbon and Graphite Felt market is divided into PAN, Rayon, and Pitch.
The PAN market was the largest by application and is anticipated to hold the top spot during the projected period. Patients with relapsed heat exchangers like pan Carbon and Graphite Felt are created and produced for various purposes, including high-temperature vacuum and inert gas furnaces. The material is rated for temperatures up to 5432°F (3000°C) in pressure or inert atmospheres. Larger diameter course fibres are used in the construction of pan, which reduces surface area and improves corrosion protection. The flexible material is less pliable and stiffer to the touch, but it performs well and costs less. Due to the object's effectiveness, simplicity of handling, and affordable pricing for heat medicine to cure applications, pan carbon felt is highly recommended by many industries.
On the other hand, the Rayon category is anticipated to grow significantly. Graphite and carbon fibres made from rayon have the beneficial qualities of being lightweight, soft, and our pas. It is mostly employed as resilient ablative substances, ultra-high temperature vacuum metallurgical equipment, insulating materials, and other structural components in aerospace. Increased body far-infrared heat is another application for it.
Asia Pacific Region in Carbon and Graphite Felt Market to Generate More 45.10% Revenue
The Asia Pacific region is projected to do so in the coming years. Demand for carbon felt and graphite felt has increased due to factors including the rising demand for batteries as helpful government efforts that have expanded investments in infrastructure-friendly and energy-saving measures in nations like China and India. China's dominance in manufacturing and using corporate heating systems and furnaces further bolstered the Carbon and Graphite Felt market in the Asia Pacific area. The popularity of carbon felt, and graphite felt is anticipated to rise in China, India, and other Asian nations because of increased steel production, increased microprocessor production, government initiatives to expand manufacturing across developing countries, the presence of a large consumer base for electronic items, and the manufacturing sector of electronics, batteries, and semiconductors. Major players are concentrating their efforts on advancing technology and growing manufacturing capacity.
The North American region is expected to see the fastest growth in the Carbon and Graphite Felt market due to the region's undeveloped deposits and rising demand for Carbon and Graphite Felts. Due to this, the area is now a significant centre for producing Carbon and Graphite Felts. Canada was discovered to be the greatest producer and consumer of furnaces and heating systems.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Carbon and Graphite Felt Market Forecast Report (2023-2030).
Global Carbon and Graphite Felt Market Segmentation
By Raw Material Type
PAN
Rayon
Pitch
By Type
Carbon Felt
Graphite Felt
By Application
Furnace
Batteries
Filters
Other Applications
By Product Type
Soft Felt
Rigid Felt
By Region
North America
United States
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-East Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of MEA
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Scope of the Report:
Report Attributes | Details |
Market Size in 2022 | USD 451.6 Million |
Revenue Forecast by 2030 | USD 868.9 Million |
CAGR | 9.8% from 2023 to 2030 |
Base Year | 2022 |
Forecast Year | 2023 to 2030 |
Key Players | Mersen, HP Materials Solutions Inc., CGT Carbon Gab, Carbon Composites Inc., Kureha Corporation, Nano shell LLC, Saginaw Carbon, Allied Metallurgy Resources LLC, Beijing Great Wall Co., Olmec Advance Materials Ltd., SGL Carbon SE, Caiden Graphite Products Ltd, Bay Carbon Inc |
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