Carbon Felt and Graphite Felt Market Size, Share and Industry Analysis, By Raw Material (PAN Based, Pitch Based, Rayon Based), By Application (Furnace, Optic Fibres, Heat Shields, Automotive Exhaust Lining, Battery, Others), By End-User (Electrical and Electronics, Automotive, Power Generation), and Regional Forecast, 2024-2032

The global carbon felt, and graphite felt market size is anticipated to gain traction during the forecast period, 2024-2032. Carbon felt and graphite felt is the insulators used in the power generation and automotive industry. The insulators made of carbon-based compounds are primarily used in thermal and electric insulation. Efficiency is one of the key factors required for the transfer of energy from one place to another or from one process to another. The insulation is done in order to isolate the product or equipment from loss or effect of factors such as heat or electricity. Manufacturers involved in the energy sector are focused on using the insulators for enhancing the process efficiencies. The increase in the on-road vehicle fleet and the growing new sales of the vehicles are expected to aid in the growth of the carbon felt and graphite felt market in the near future.

The electronic components manufactured require heat insulation to retain their efficiency. Owing to this, the demand for the carbon felt and graphite felt is expected to grow significantly with the growth of the electronics component manufacturing industry. Manufacturers are also focused on combining the carbon and graphite felts with the nano-particles such as bismuth and carbon nano-tubes among others to enhance the properties and efficiency of the carbon felt and graphite felt. Owing to this, the carbon felt and graphite felt the market is expected to witness appreciable growth in the coming years.

The pan-based and pitch-based carbon and graphite felts are more economical as compared to the rayon based carbon felt and graphite felts. Owing to this, the rayon-based carbon felt and graphite felts are expected to have slower market growth during the forecast period.

The insulators manufactured from carbon-based compounds are widely used for electric and thermal insulation. The carbon felt and graphite felt insulators are carbon-based insulators used in the thermal insulation applications for various end-use industries. The carbon felt and graphite felt are easy to install, have high thermal resistance, negligible outgassing and low density.

MARKET SEGMENTATION Analysis:

Based on raw material, the carbon felt and graphite felt the market is classified as PAN-based, pitch-based, and rayon based. The PAN-based and pitch-based carbon and graphite felts are economical as compared to the rayon based carbon and graphite felts. The rayon based carbon and graphite felts are most widely used in the North America region while the other two types have a high demand in the asia pacific region. 

Base on the application, the carbon felt and graphite felts are segmented as thermal insulators used for the furnaces, optic fibers, automotive exhaust lining, battery and heat shields among others. The furnace application is expected to dominate the carbon felt and graphite felt market by application owing to the availability of carbon felt and graphite felt for different types of furnaces.

By end-use industry, the market is bifurcated depending on the applications of the carbon and graphite felts in the industries such as power generation, automotive, electrical and electronic component manufacturing among others.

Key Players Covered

• Mersen


• HP Materials Solutions Inc.


• CGT Carbon GmbH


• Carbon Composites Inc.


• Kureha Corporation


• ERK Karbo


• Nanoshell LLC


• Saginaw Carbon


• Allied Metallurgy Resources LLC. 


• Beijing Great Wall Co. Ltd.


• Olmec Advance Materials Ltd.


• SGL Carbon SE


• Coidan Graphite Products Ltd.


• Bay Carbon Inc.


• AMK Metallurgical Machinery Group Co. Ltd.

SEGMENTATION

Regional Carbon Felt and Graphite Felt Market Analysis

North America to Dominate Market Share Owing to Increasing Demand

The global carbon felt and graphite felt market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The electronics component manufacturing and power generation industry in the U.S has witnessed a steady growth in the recent past, and the trend is expected to remain the same in the coming years. Owing to this, the market is expected to grow at a decent pace in the North America region during the forecast period. The automotive and electrical component industry in the Europe region is growing at moderate rates, and this is expected to add in the market growth of the carbon felt and graphite felt market in the region. The power generation industry in the Middle East and Africa region is expected to witness a significant growth in the coming years owing to the increase in the solar photovoltaic installations in the region. Owing to this, the market is expected to grow at a decent pace in the region. 

The Asia Pacific region is likely to emerge as a high growth potential region for the growth of the market during the forecast period. The region has abundant availability of raw materials which directly affects the cost of the carbon felt and graphite felt making it more economical. Additionally, the region has witnessed significant growth in the on-road vehicle fleet and power generation industry. Owing to this the sales of carbon felt and graphite felt are expected to boost in the Asia Pacific region in the near future. The carbon felt and graphite felt industry in the Latin America region is expected to augment owing to the growth of the power generation and distribution industry in the region.

Key Industry Developments

• In December 2018, the Solar Manufacturing has installed a vacuum furnace of a 100-ton capacity for the commercial and aerospace diffusion bonding operations of Refrac System.


• In February 2018, the researchers at the Kaunas University of Technology stated that the graphite felt can be used in the microbial fuel cell to boost the fuel cell efficiency and generate a 20% more voltage as compared to the other microbial fuel cells.