Global carbon felt & graphite felt market was valued US$ 2.10 Mn in 2017 and expected to reach US$ 5.54 Mn by 2026, at a CAGR of 8.46% during forecast period.
Global carbon felt & graphite felt market is divided into raw material type, product type, type, application, and region. On the basis of raw material type, market is divided into PAN, pitch, and rayon. Based on product type, market is segmented into soft felt, rigid felt. According to type, market is classified by carbon felt, graphite felt. Based on application, market is divided into Furnace, Batteries, Filters, Others. Geographically market is spread by North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
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The increasing demand for high-performance batteries and improvement in performance of carbon fiber in high temperature applications are driving the carbon felt and graphite felt market. The absence of quality control in developing economies is one of the reason for limiting the growth of market. Carbon felt and graphite felt offers high-temperature insulation and structural stability, making them suitable for use in high-temperature furnaces for energy saving and high-performance batteries.
Asia-Pacific is the key carbon felt and graphite felt market. The increasing demand for carbon and graphite felts along with a string focus on emission control policies, energy savings, environmentally friendly products, and industry consolidation have encouraged innovations and technological advancement in the market. This has made the region a major hub for manufacturing carbon and graphite felts. China is the worldâ€™s largest producer and consumer of industrial heating systems and furnaces, thus driving the demand for carbon and graphite felts in the region.
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Key players operated in carbon felt & graphite felt market are SGL Group, Toray Industries, Inc., Kureha Corporation, Nippon Carbon Co., Ltd., Beijing Great Wall Co., Ltd., Chemshine Carbon Co., Ltd., CM Carbon Co., Ltd., Gansu Haoshi Carbon Fiber Co., Ltd.