Market Size- USD 0.32 Billion, Market Growth- 9.6%, Market Trend- Increased demands for batteries and furnaces, research and development of novel variety of felts.
According to the current analysis of Reports and Data, the global Carbon Felt and Graphite Felt Market was valued at USD 0.32 Billion in 2018 and is expected to reach USD 0.66 Billion by year 2026, 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.
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Major Companies Operating in the industry and profiled in the report are:
- SGL Carbons,
- Nippon Carbon Co. Ltd.,
- Fibrematerials Inc.,
- Toray Industries Inc.
- and Beijing Great Wall Co. Ltd
Market segmentation based on Product Type:
- Carbon Felt- Soft
- Carbon Felt- Hard
- Graphite Felt- Soft
- Graphite Felt- Hard
Market segmentation based on Application:
- Furnace Insulation
- Other Applications
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The regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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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%.
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