PUBLISHER: IMARC | PRODUCT CODE: 1675629
PUBLISHER: IMARC | PRODUCT CODE: 1675629
The global carbon felt and graphite felt market size reached USD 551.7 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,114.8 Million by 2033, exhibiting a growth rate (CAGR) of 8.13% during 2025-2033. The increasing product demand for heat insulation, the growing demand for energy storage systems, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Carbon and graphite felt are flexible high-temperature refractory materials produced when fibers are pressed, tangled, and condensed collectively. They are structurally stable, easy to install, have high thermal resistance, negligible outgassing, and low density. They are commonly used as electrodes and cathodes with a wide range of applications, including various battery designs and insulation for vacuum and inert gas furnaces. Carbon felt and graphite felt materials are ideal for intense temperature insulation as they exhibit high stability with low shrinkage, thermal resistance, low thermal and electrical conductivity, and high thermal stability. They are lightweight, flexible, durable, easy to cut, and resistant to chemicals, high temperatures, and corrosion. As a result, carbon felt and graphite felt are extensively used in optic fibers, automotive exhaust lining, furnaces, and heat shields.
The increasing product demand for heat insulation across the globe is creating a positive outlook for the market. Carbon and graphite felts are used in high-temperature refractory insulations in a vacuum and protected atmospheric environments owing to their flexible properties. In line with this, the widespread product utilization in furnaces used in several industrial activities, including heating fluids, vacuum distillation, or manufacturing of gases, such as ethylene, vinyl chloride monomer, and synthetic gas, is favoring the market growth. Moreover, the rising demand for carbon and graphite felt in the automotive industry as they are good heat insulators is acting as another growth-inducing factor. Apart from this, manufacturers are focusing on the use of polyacrylonitrile (PAN)-based carbon, and graphite felts that are used as electrode backings in various battery designs due to their high purity, chemical resistance, and high insulating properties are providing an impetus to the market growth. Additionally, the increasing product utilization as anodes and cathodes due to the growing demand for energy storage systems is propelling the market growth. Furthermore, the widespread product adoption for high-performance batteries, owing to their broad operational range, high thermal insulation chemical stability, and lightweight nature characteristics, is positively influencing the market growth. Besides this, key players are focusing on combing carbon and graphite felts with nanoparticles to enhance their efficiency and properties, which, in turn, is driving the market growth. Other factors, including the widespread product adoption in the electronic component manufacturing sector, extensive research and development (R&D) activities on improving the performance and sustainability of carbon felt and graphite felt products, and the implementation of various government initiatives and investments for infrastructural development, are supporting the market growth.
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