Carbon & Graphite Felt Market worth $770 million by 2028, a CAGR of 9.4%

The report “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.

Some of the prominent key players are:

· 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)

· Gansu Haoshi Carbon Fiber Co., Ltd (China)


Opportunity: Growing renewable energy sector

The growing wind and solar energy industries demand batteries capable of storing a high amount of energy generated. Hence, flow batteries combined with a solar panel or wind energy system are used in large renewable energy projects. These batteries are gradually gaining acceptance in the renewable energy industry due to their longer lifespan, reduced fire risk, and recyclability. Furthermore, the flow batteries that are made of carbon and graphite felts have the ability to store energy generated from renewable sources for both long and short-duration applications. Countries such as China and India are increasing their wind & solar energy production to reduce the burden on non-renewable sources. Asia is currently the largest market for renewable energy production. The growing renewable energy projects are likely to increase the demand for flow batteries. This is further expected to have an impact on the demand for carbon and graphite felts due to their increased use in batteries.


PAN raw material segment is expected to account for largest share in 2022.

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.


Asia Pacific accounted for the largest share in 2022

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.


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