Global Graphite Felts Market Expected to Reach USD 1,536.90 Million by 2032

According to a recent market study published by Growth Market Reports, titled, “Global Graphite Felts Market, By Type, By Raw Material, By Thickness, By Distribution Channel, and By Region: Size, Share, Trends and Opportunity Analysis, 2017-2032”, the market was valued at USD 836.74 Million in 2023 and is expected to expand at a growth rate of 7.4 % by 2032.

As per Growth Market Reports industry analyst, “The Global Graphite Felts Market is anticipated to register significant growth during the forecast period, 2023-2032. The demand for energy storage technologies is fueled by growing attention being given to renewable energy sources including hydroelectric, solar, and wind power. Graphite and carbon felts are essential parts of energy storage devices such as fuel cells and redox flow batteries, allowing for effective energy distribution and capture. Thus, contributing to market growth.

Graphite felts are advanced carbon-based materials made of high-purity graphite fibers intertwined or needled together to form a porous structure. They possess exceptional thermal, electrical, and mechanical properties that make them highly sought after in various industries.

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These felts are primarily used as thermal insulation and refractory material in a wide range of industrial furnaces, including heat treatment, vacuum, welding, and high-pressure furnaces. Graphite felt is an excellent insulator with low thermal conductivity, high-temperature resistance (up to 400°C in oxidizing temperatures and up to 3200°C in vacuum or protective atmospheres), and high carbon content.

Graphite felt is available in various thicknesses, typically ranging from 3 mm to 12 mm, with widths of 1000-1300 mm and lengths of 9-15 meters. Graphite felts are used in various industries, including aerospace, energy, metallurgy, electronics, and chemical processing. They find applications as insulation materials, catalyst supports, thermal shields, gaskets, and reinforcement components. Their high porosity, chemical stability, and adsorption properties make them effective filters for separating gases and liquids in chemical processing.

Graphite felts are particularly useful in thermal management applications due to their outstanding thermal conductivity, which allows them to dissipate heat efficiently and withstand high temperatures. Their porous structure enables rapid heat transfer and even distribution, enhancing their thermal performance further.

In electrical applications, graphite felts serve as excellent electrodes and current collectors due to their high electrical conductivity. Their porosity facilitates the easy flow of gases and electrolytes, which improves the overall efficiency of these systems. Graphite felts are also mechanically strong, flexible, and resilient, making them ideal for shaping, molding, and compressing to fit complex structures.

Primary and secondary research methodology is used for keen observation and study about the Global Graphite Felts Market. Primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews are conducted with stakeholders across industry verticals on regular intervals in line with the ongoing studies and to be updated with the latest market trends & developments. Validation of the estimated market size and current and future trends are done from the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the industry and possess the experience of around 10-20 years in the industry. The secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases are analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crisis of global interdependence and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. Strict measures are required for monitoring the pandemic, which affected businesses and caused unanticipated short and long-term effects. Consequently, pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 serves as an opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the present scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services. However, reduction in outdoor activities and social distancing has created lucrative opportunities for the market.

Key Takeaways from the Study:

• Key market players include Morgan Advanced Materials, Beijing Great Wall Co.,Ltd, Carbon Composites, Inc., CFC CARBON CO., LTD, CGT Carbon GmbH, Chemshine Carbon Co. Ltd, CM Carbon, Final Advanced Materials, Gansu Haoshi Carbon Fiber Co.,Ltd., Henschke GmbH, Mersen, Olmec Advanced Materials, Schunk Carbon Technology, SGL Carbon, and Sinotek Materials Co., Ltd.

• Players are adopting key strategies such as acquisitions, collaborations, and geographical expansion for potential opportunities in the Graphite Felts market.

• The Global Graphite Felts Market is projected to expand at a rapid pace globally, owing to rising demand from the packaging industry, urbanization and increasing number of construction projects, and others.

Report Scope:

Target Audience:

• Supply-side: Raw material suppliers and Manufacturers  

• Demand Side: Industrial sectors

• Regulatory Side: Concerned government authorities and other regulatory bodies