Press release
Carbon Felt and Graphite Felt Market to Surpass US$ 1.07 Billion by 2032, North America Carbon Felt Market Growing at 10% CAGR
The global carbon felt and graphite felt market is on a robust upward trajectory, with current valuations at US$ 429.5 million and expected to exceed US$ 1.07 billion by 2032, according to a comprehensive analysis by Fact.MR. Registering a strong CAGR of 9.6%, the market is being propelled by increased demand for high-performance materials across advanced battery systems and high-temperature industrial applications.Carbon and graphite felts, known for their excellent thermal insulation, low thermal conductivity, and high purity levels, have become integral to sectors like electronics, metallurgy, and clean energy. These materials are favored for use in vacuum furnaces, filters, and batteries, thanks to properties such as low ash and sulfur content, high resistivity, and ease of customization.
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Regional Growth and Market Dynamics
North America currently dominates the global carbon felt and graphite felt market with a 33% market share, underpinned by a thriving power generation and electronics component industry in the United States, where the CAGR is pegged at 10% through 2032. Europe follows with a 26.5% share, bolstered by stable automotive and electrical manufacturing sectors.
However, the fastest growth is anticipated in the Asia Pacific, especially in China and India, driven by increasing investments in eco-friendly battery technologies and emissions control. The East Asia and South Asia & Oceania markets are forecast to expand at CAGRs of 15.6% and 13.4%, respectively.
Key Market Segments
Among raw materials, PAN (Polyacrylonitrile) leads with a 46.9% market share, expected to rise steadily at 9.6% CAGR. PAN-based felts are widely used in battery electrodes and flow battery systems due to their chemical resistance, high purity, and superior conductivity.
In terms of applications, furnaces remain the leading segment, accounting for 38.3% of the global market, with a projected CAGR of 10.6%. Their extensive use in vacuum treatment, casting, and sintering processes, combined with energy efficiency benefits, is fueling sustained demand. Batteries (29.3% share) and filters (18.9%) are also gaining ground, supported by increasing electrification and environmental regulations.
Competitive Landscape and Recent Developments
The market is moderately consolidated, with the top 5 players accounting for approximately 32% of total revenue. Leading companies are heavily investing in product innovation, targeting lightweight, oxidation-resistant, and chemically durable felts to cater to evolving industry requirements.
Key players include SGL Carbon, Toray Industries Inc., Kureha Corporation, Nippon Carbon Co. Ltd., Beijing Great Wall Co. Ltd., Advanced Graphite Materials, and Fiber Materials Inc. Recent strategic developments include:
Toray Industries Inc.'s acquisition of SK Chemicals in 2021, marking a significant expansion into carbon fiber composite materials.
Spirit AeroSystems' acquisition of Fiber Materials Inc. in 2020, enabling diversification and entry into aerospace thermal protection systems.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=4950
Additionally, CeraMaterials, CGT Carbon GmbH, Anshan Sinocarb Carbon Fibers Co. Ltd., and Anssen Metallurgy Group Co. Ltd. are intensifying efforts in R&D and regional expansion, aiming to capitalize on the accelerating demand from renewable energy and electronics sectors.
Future Outlook
With applications expanding rapidly across clean energy, metallurgy, and electronics, the carbon felt and graphite felt industry is expected to witness a 1.7X growth over the next decade. The integration of these materials in flow batteries, heat shields, wicks, and chemical reactors signals a future of material science innovation rooted in performance and sustainability.
As manufacturers continue to leverage the multifaceted benefits of carbon and graphite felts, market leaders will be defined by their agility in innovation, scalability, and global footprint.
Check out More Related Studies Published by Fact.MR Research:
Bromelain Ingredient Market - https://www.factmr.com/report/bromelain-ingredient-market
Graphite Electrode Rod Market - https://www.factmr.com/report/graphite-electrode-rod-market
Masonry Cleaners Market - https://www.factmr.com/report/masonry-cleaners-market
Open Cell Foam Market - https://www.factmr.com/report/open-cell-foam-market
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