Carbon & Graphite Felt Market worth $770 million by 2028 | Key players SGL Group, Toray Industries, Inc., Kureha Corporation, Nippon Carbon Co., Ltd., Beijing Great Wall Co., Ltd.

According to recent market research the "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", is estimated at USD 491 million in 2023 and is projected to reach USD 770 million by 2028, at a CAGR of 9.4% from 2023 to 2028. Carbon and graphite felts are non-woven fabrics made from carbon fiber, namely, PAN, rayon, and pitch. These non-woven fabrics, when passed through processes such as carbonizing, graphitizing, pressing, and mixing, form carbon and graphite felts.

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On the basis of raw material type, the global carbon & graphite felt market is segmented into PAN, rayon, and pitch. Carbon and graphite felts are produced using these materials either by the carbonization or graphitization processes at very high temperatures ranging from 3,632°F to 6,322°F. The demand for PAN-, pitch-, and rayon-based carbon & graphite felts may vary because of their different physical properties, usage in different applications, and different manufacturing processes used in their production. PAN-based carbon & graphite felt holds the largest share of the overall market.

Based on the product type, market is segmented into soft felt and rigid felt. In 2022, soft felt segment dominated the market in terms of both, volume, and value. The soft carbon & graphite felt get widely used in the multiple areas such as heated vacuum furnaces, graphitizing furnaces, annealing furnaces, and many more.

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The carbon & graphite felt market has been studied in North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The Asia Pacific carbon & graphite felt market is being driven by growing need of renewable energy. The growing focus on the energy savings, and emission control policies along with the technological developments in the region is driving the market growth.
Major players operating in the carbon & graphite felt market 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), and Gansu Haoshi Carbon Fiber Co., Ltd (China) are some of the market players.

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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.

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