Global Carbon Felt And Graphite Felt Market Size, Share, Opportunities, And Trends By Raw Material (PAN Based, Pitch Based, Rayon Based), By Product Type (Soft Felt, Rigid Felt), By Application (Heat Insulation, Batteries, Semiconductors, Absorptive Materials, Other Applications), By End-User (Electrical And Electronics, Automotive, Power Generation, Others), And By Geography- Forecasts From 2024 To 2029

  • Published : Jul 2024
  • Report Code : KSI061616971
  • Pages : 141

The global carbon felt and graphite felt market is expected to grow at a CAGR of 10.28% during the forecast period (2024-2029).

Carbon felt and graphite felt are similar materials made from carbon fibers and are porous, with carbon felt being the older version of graphite felt. Carbon felt is created by heating synthetic fibers to carbonization temperatures, making the product useful in various fields as an insulator or electrode. Graphite felt is also subjected to further processing, yielding higher conductivity and mechanical characteristics suitable for high-temperature conditions or electrochemical applications. Owing to their specific properties, these materials are versatile in different industries in heat transfer, energy storage, and chemical processing industries.

Further, the mentioned drivers and opportunities are upsurging the market growth:

  • The demand for advanced high-temperature insulation, including carbon felt and graphite felt, is increasing due to organizations’ value of productivity and reliability in critical thermal environments. Firwin Corporation supplies high-temperature thermal insulation products that meet equipment’s needs. These products include Firwin Plus, Firwin SW1800 Insulation, and Firwin 1200 Insulation Mat.  Carbon felt and graphite felt minimize the transfer of heat, thus ensuring that the working environment is steady and the equipment has a longer span and energy conservation. Such insulating solutions become crucial to today’s industrial processes as enterprises seek ways to increase and enhance productivity and efficiency.
  • The growing emphasis on sustainability fuels demand for eco-friendly materials such as carbon felt and graphite felt, noted for their recyclability and environmental effect. These materials are utilized in the storage of energy from renewable sources and electric cars as part of the shift towards the use of green energy. In addition, companies operating in industries that strive to cut emissions also employ high-performance insulation solutions, such as carbon and graphite felt, which contribute to market growth. For instance, BMW aims to reduce carbon emissions by 2030.  As sustainability becomes a more important factor for organizations and consumers, the carbon felt and graphite felt markets gain from their involvement in improving environmentally friendly practices and technology.


  • PAN-based carbon felt and graphite felt are gaining popularity.

PAN-based carbon felt and graphite felt have grown across various sectors because of their superior characteristics and versatility. They both have been rising across a broad range of industries since they offer superior characteristics and versatility. These materials have very good thermal resistive characteristics, making them suitable for use in situations that expose materials to high temperatures. Carbon fibers find use in aeronautics, automobiles, battery technology, and industries due to their ability to withstand very high temperatures. Pan Carbon Felt, or Polyacrylonitrile, is planned and used mainly for high-temperature thermal protection in vacuum and inert gas furnaces. Pan is courser fibers, has greater fiber diameter, low surface area, and good oxidation resistance over Rayon. Pan carbon can withstand temperatures of up to 2192? (1200?).

Furthermore, their high electrical conductivity makes them useful in electrical applications like fuel cells and batteries. As businesses seek materials that can fulfill demanding performance requirements, PAN-based carbon felt and graphite felt are becoming increasingly popular, offering innovation and growth in various disciplines.

  • Based on product type, a soft felt segment is gaining popularity.

Soft felts are flexible insulating materials for high temperatures and can only be used in inert or vacuum conditions, and due to their composition, they are made only of carbon fibers. The felt stability is set during the first production phase, the needling phase, and it remains stable in the subsequent heat treatment process. Soft felts can also be used in energy storage devices, for example, in redox-flow batteries, because the structure of the material is well controlled and the material is electrically conductive.

The use of soft felt in the carbon felt and graphite felt market is on the rise as the material provides several advantages. These felts offer unparalleled flexibility and conformability for numerous tasks. The flexibility characteristic is most valuable in applications where the complexity of shapes and forms present is high, such as the aerospace and automotive industries and electronics.

Besides, owing to their highly effective thermal conductivity, their application is useful in places where temperature regulation is important. Soft felts help preserve stable working conditions in thermal control systems; thus, with heat transfer protection, their popularity rises. For instance, CCI offers high-quality rayon-based carbon and graphite felts in various thicknesses. Thermshield™ felts are designed to insulate high-temperature furnaces operating in vacuum or inert gas environments. Moreover, this segment's growth demonstrates an increased appreciation of the value proposition provided by soft felts in satisfying the changing demands of diverse sectors.

  • The growing application of carbon felt and graphite felt in semiconductors.

Carbon felt and graphite felt materials typically exhibit excellent thermal stability and are utilized in heat sinks and thermal applications in semiconductors. Their improved compatibility with the harsh chemicals and conditions used in the processes of manufacturing semiconductors enhances the operation reliability and longevity of the equipment. Moreover, their purity and free of contaminants are essential when it comes to addressing the level of cleanness necessary for semiconductor production.

In January 2022, the Department of Commerce released a Request for Information to assist steer CHIPS Act-funded programs to support a robust domestic semiconductor sector. Furthermore, India relies heavily on imports for its semiconductor requirements. India imports 95% of its semiconductors from China, Taiwan, South Korea, and Singapore.  While the usage of carbon felt and graphite felt is still relatively new to the semiconductor industry, the versatility of the two felt products is predicted to play a crucial role in the advancement of semiconductor technology in the future.

  • The growing demand for carbon felt and graphite felt in the electrical and electronics industry.

The sales of carbon felt and graphite felt in the electrical and electronics sectors are prime examples of products required to fulfill new technologies and inventions. These materials are valued for their high thermal conductivity and stability, thus gaining wider acceptance among various applications in the electronics industry. According to the World Electronics Update 2020, the electronics sector crossed $2.9 trillion. In the same year, electronics alone had a global market worth nearly equal to India’s gross domestic product, US$2.9 trillion.

Carbon felt and graphite felt are also widely used in electronic devices, particularly in heat dissipation solutions. These materials contribute to heat dissipation, which makes the devices' functions perform well and enhances their durability when used under intense heat or pressure.

Furthermore, as the need for energy storage solutions grows, particularly in renewable energy systems and portable electronics, carbon felt and graphite felt are using batteries and supercapacitors due to their potential to improve energy efficiency and cycle stability. In 2022, the US had 40 PSH systems operating in 18 states, with a total nameplate power capacity of around 22,008 MW. The Bath County plant in Virginia is the biggest PSH, with six distinct generators, each having 477 MW nameplate power capacity, for a total of about 2,860 MW of nameplate power capacity that can discharge at full capacity for up to six hours or more.

Carbon felt and graphite felt adaptability and dependability make them essential components for powering the next generation of electrical and electronic devices, driving innovation, and determining the future of technology.


  • Asia Pacific to dominate the carbon felt and graphite felt market during the forecast period.

Several compelling reasons are predicted to drive the Asia-Pacific region's dominance in the carbon felt and graphite felt markets throughout the projected period. For instance, the region's growing industrialization and urbanization stimulate demand in various industries, including electronics, automotive, and aerospace, where these materials are widely used. Currently, India's electronics sector is estimated at $155 billion, with local manufacturers accounting for 65%. With Asia-Pacific serving as a manufacturing hub for electronics, the growing production of gadgets such as smartphones, laptops, and consumer electronics stimulates the demand for heat management solutions supplied by carbon and graphite felt.

Furthermore, supporting government efforts and investments in infrastructure development and renewable energy projects helps drive the carbon felt and graphite felt market in the Asia-Pacific region, cementing its dominating position worldwide. Therefore, the 14th Five-Year National Agriculture Green Development Plan was released by the Chinese government on September 8, 2021. Explaining the details of the Plan, which was released by six departments: MARA, NDRC, MOST, MONR, MEE, and SFGA, the government plans that resource protection, pollution control, agricultural ecology restoration, and the development of low-carbon agricultural industrial chains have to be reached by 2025.

Alongside this, the National Logistics Policy of India also targets the development of integrated infrastructure and service efficiency, including procedures and regulatory frameworks, through its Comprehensive Logistics Action Plan (CLAP). In conclusion, the region's emphasis on sustainable and high-performance materials provides new potential for carbon felt and graphite felt uses.

As the concept of sustainable development is gaining popularity, the emphasis on technical development for efficient business processes is also increasing, thus opening up the potential for industry players to tap into the growing market and, at the same time, work on solving problems related to the environment.

Global Rubber Carbon Market Key Developments:

  • In September 2021, SGL Carbon is increasing and modernizing its soft felt manufacturing. The firm invested a single-digit million euros in the previous two years in an additional carbonization facility at its Meitingen site near Augsburg, Germany, which is now operational.

The global carbon felt and graphite felt market is segmented and analyzed as follows:

  • By RAW Material
    • PAN Based
    • Pitch Based
    • Rayon Based
  • By Product Type
    • Soft Felt
    • Rigid Felt
  • By Application
    • Heat Insulation
    • Batteries
    • Semiconductors
    • Absorptive Materials
    • Other Applications
  • By End-User
    • Electrical and Electronics
    • Automotive
    • Power Generation
    • Others
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Middle East and Africa
      • Saudi Arabia
      • United Arab Emirates
      • Rest of Middle East and Africa
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Rest of Asia-Pacific


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders


2.1. Research Design

2.2. Research Process


3.1. Key Findings

3.2. Analyst View


4.1. Market Drivers

4.1.1. Rising Demand for Carbon felt and graphite felt in Energy Storage

4.1.2. Advancements in Aerospace and Defense Industries

4.2. Market Restraints

4.2.1. High Production Cost

4.2.2. Threats from Substitutes 

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis


5.1. Introduction

5.2. PAN Based

5.3. Pitch Based

5.4. Rayon Based


6.1. Introduction

6.2. Soft Felt

6.3. Rigid Felt


7.1. Introduction

7.2. Heat Insulation

7.3. Batteries

7.4. Semiconductors

7.5. Absorptive Materials

7.6. Other Applications


8.1. Introduction

8.2. Electrical and Electronics

8.3. Automotive

8.4. Power Generation

8.5. Others


9.1. Global Overview

9.2. North America

9.2.1. United States

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Rest of South America

9.4. Europe

9.4.1. United Kingdom

9.4.2. Germany

9.4.3. France

9.4.4. Italy

9.4.5. Spain

9.4.6. Rest of Europe

9.5. Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. United Arab Emirates

9.5.3. Rest of Middle East and Africa

9.6. Asia-Pacific

9.6.1. China

9.6.2. India

9.6.3. Japan

9.6.4. South Korea

9.6.5. Taiwan

9.6.6. Thailand

9.6.7. Indonesia

9.6.8. Rest of Asia-Pacific


10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard


11.1. CGT Carbon

11.2. Cera Materials

11.3. Olmec Advanced Materials

11.4. SGL Carbon

11.5. CFC Carbon Co., Ltd. 

11.6. Carbon Composites Inc. 

11.7. Sinotek Materials Co., Ltd. 

11.8. Anssen Metallurgy Group Co., Ltd.

11.9. Schunk Group

11.10. Kureha Corporation

CGT Carbon

Cera Materials

Olmec Advanced Materials

SGL Carbon

CFC Carbon Co., Ltd. 

Carbon Composites Inc. 

Sinotek Materials Co., Ltd. 

Anssen Metallurgy Group Co., Ltd.

Schunk Group

Kureha Corporation

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