According to the current analysis of Reports and Data, the global Carbon Felt and graphite felt market was valued at USD 382.1 Million in 2018 and is expected to reach USD 794.7 Million by year 2028, at a CAGR of 9.6 %. Felts are soft, flexible, high temperature refractory insulation materials, typically used in vacuum and protected atmosphere environments up to a temperature of 5432°F i.e. 3000°C. Carbon and Graphite Felts are two main types of felt used in industries. These materials possess high insulating properties. Carbon felt and graphite felt also possess structural stability. Therefore, these materials are used in high performance batteries and furnaces for energy saving.

Carbon and Graphite Felts are further classified into three types as per their compositions, namely, PAN, Rayon and Pitch. Carbon and graphite felts are available in various types. Each of these felt types are uniquely designed for varied purposes. For instance, Pitch type of felt is light weight, has chemical resistance and is resistant to oxidation. Thus, this felt can be used for insulating furnaces. PAN on the other hand, is stiffer in nature and is not soft. Thus, PAN is used in cases of heat treat. These felts are designed for use as high temperature insulations in vacuum furnaces and inert gas furnaces. Additionally, these materials can also be used in oxidising temperature up to 752°F (400°C). Usually, both the types of felts are used as electrodes and cathodes with a wide range of different applications.

The key players in the market are Ceramaterials, SGL Carbons, Nippon Carbon Co. Ltd., Fibrematerials Inc., Kuhera, Toray Industries Inc. and Beijing Great Wall Co. Ltd.

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Further key findings suggest that

Carbon felt and graphite felt offer high temperature insulation and structural stability making them suitable for use in high temperature furnaces for energy saving and high performances batteries.

The carbon felt and Graphite felt market is dominated by Pan based carbon and graphite felt segment. This essentially, because it is widely used and has is easy to process as compared to those of the others. It is also fairly cost effective in nature and has high insulation properties.

High prices and lack of low cost carbon felt manufacturing in large applications acts as a restraining factor for the market.

When the chemical purity is not critical, carbon felt can be used instead of graphite felt as it is cheaper.

Soft felt type of carbon and graphite felt dominates the market due to its wide application in induction heated vacuum furnaces i.e. furnaces with an inert gas like atmospheres. They continue to grow at a CAGR of 9.9% each.

Europe holds the largest share of market accounting for an approximate value of 44.6%.

Asia-Pacific is expected to grow at a rapid rate in the forecasted year due to the growing demand for carbon and graphite felts and untapped resources in this region. This has made the region a major hub for carbon and graphite felts production. China was found to be the largest producer and consumer of heating systems and furnaces.

In case of application, use of carbon felt and graphite felts is primarily used in furnaces due to their high capacities of heat conduction. Thus, use of these felts in furnaces dominate the market.

The absence of proper quality control in several developing and under-developed countries is another restraining factor in the market.

SGL group was found to be a dominating player in the market.

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For the purpose of this report, Repots and Data has segmented this market on the basis of Type, Material Used, Application and Regions:

Type (Revenue, USD Million; 2020–2028)

Carbon Felt- Soft

Carbon Felt- Hard

Graphite Felt- Soft

Graphite Felt- Hard

Material Used (Revenue, USD Million; 2020–2028)

PAN

Rayon

Pitch

Application (Revenue, USD Million; 2020–2028)

Furnace Insulation

Filters

Batteries

Other Applications

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Region (Revenue, USD Million; 2020–2028)

North America:

Asia Pacific:

Europe:

Middle-east and Africa

Latin America:

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