The carbon & graphite felt market is projected to grow from USD 491 Million in 2023 to USD 770 Million by 2028, at a CAGR of 9.4% during the forecast period. Carbon & graphite felts are used in applications such as furnaces, batteries, filters and many others. These felts are predominantly used in the furnace application, primarily for insulation purposes. However, the demand for these felt products is currently increasing in the batteries application as renewable energy installations are increasing in the developing countries such as India, and Brazil.
Major manufacturers in this market are based Asia Pacific, North America and Europe. Some of the key players includes 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), Gansu Haoshi Carbon Fiber Co., Ltd. (China), CFC Carbon Co., Ltd. (China), and Sinotek Materials (China). These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the carbon & graphite felt market.
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SGL Group (Germany)
SGL Group is one of the world’s leading manufacturers of carbon-based products and materials. The company manages its operation through major business units, namely, mobility, industrial applications, energy, chemicals, textile fibers and digitization. The company provides soft and rigid carbon fiber felts for applications such as high-temperature furnaces and energy storage, as well as for the semiconductor and photovoltaic industries. It has manufacturing facilities in North America, Europe, and Asia.
Toray Industries, Inc. (Japan)
Toray Industries, Inc. is a multinational corporation. The company operates its business through five segments, namely, fibers & textiles; performance chemicals; carbon fiber composite materials; environment & engineering; and other businesses. Its operations are spread mainly in Asia Pacific, Europe, and North America. The company operates its carbon felt business through its subsidiary ZOLTEK Corporation. Carbon felts offered by the company are majorly used as insulation material in high-temperature furnaces and as energy storage material in batteries.
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
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