The global Carbon & Graphite Felt Market is experiencing significant growth, with a forecasted CAGR of 9.6% from 2024 to 2029. This market, estimated at USD 551 million in 2024, is projected to reach USD 871 million by 2029. Carbon and graphite felts are non-woven fabrics made from raw materials like PAN, pitch, and Rayon, and are used in various applications such as furnaces, batteries, and filters.
The market is segmented based on raw materials, with PAN and Rayon-based felts expected to see significant growth due to their high usage in diverse applications. The product type segment includes soft felt and rigid felt, with soft felt accounting for the largest market share in 2023.
Regionally, Asia Pacific leads the market for carbon and graphite felts, driven by the growing renewable energy sector and the increasing focus on emission control and energy-saving policies. Companies like SGL Group, Toray Industries, and Mersen are prominent players in this market, offering a wide range of products under their specialty graphite business segments.
Morgan Advanced Materials, founded in 1856, is active in various businesses and offers felts under its specialty graphite business segment. Mersen, a global expert in electrical equipment and advanced materials, provides felts under its graphite specialties product segment, primarily used in furnaces.
The growth of the carbon and graphite felt market is fueled by the increasing demand for these materials in various industries, including energy, transportation, electronics, and chemicals. With a focus on innovation and performance optimization, companies in this market are poised for continued growth and success in the coming years.
