Carbon and Graphite Felt Market to hit USD 950 Mn by 2032, Says Global Market Insights Inc.
Carbon and Graphite Felt Industry size is predicted to register 8% CAGR between 2023 and 2032 driven by Rapid expansion of the automotive industry.
Selbyville, Delaware , Nov. 13, 2023 (GLOBE NEWSWIRE) -- Carbon and Graphite Felt Market could cross a valuation of USD 950 million by 2032, according to the latest report by Global Market Insights Inc.
The industry growth is driven by increasing demand for sustainable and high-performance materials across a wide range of industries. As a versatile and cost-effective solution, carbon and graphite felts are used in applications that require high-temperature resistance, corrosion resistance, and excellent thermal and electrical conductivity.
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As industries worldwide focus on reducing their carbon footprint, carbon and graphite felts have become essential in various green technologies. The adoption of these materials is driven by their ability to withstand extreme conditions, making them indispensable in clean energy applications such as fuel cells, solar panels, and energy storage systems. Additionally, the aerospace, automotive, and electronics sectors are increasingly embracing carbon and graphite felts for their outstanding thermal management properties, enhancing the efficiency and performance of products. The growing need for lightweight and durable materials in these industries is further propelling the market.
The carbon and graphite felt market size from rigid carbon segment is expected to witness substantial growth through 2032 due to its ability to offer superior performance in environments where flexibility and resilience are paramount. Rigid carbon felts are known for their high strength, excellent dimensional stability, and resistance to chemical and thermal degradation. They are widely used in aerospace and defense sectors for enduring extreme conditions. They also find extensive application in the production of composites and specialized insulation materials.
The medium purity carbon and graphite felt market segment is anticipated to grow significantly through 2032 due to its versatility and cost-effectiveness. Industries such as metallurgy, glass manufacturing, and semiconductor production utilize medium purity carbon felts for their excellent thermal and electrical conductivity, ensuring reliable performance, and energy efficiency. The increasing use of these felts in the production of chemicals, metals, and electronic components is contributing to the segment growth.
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Europe carbon and graphite felt market will generate strong revenues by 2032 as industries in the region strive to meet stringent environmental regulations and transition to cleaner technologies. Countries like Germany, France, and the United Kingdom are leading the adoption of carbon and graphite felts in the automotive, renewable energy, and chemical sectors. This is being done is order to reduce carbon emissions and improve energy efficiency. Furthermore, the presence of well-established manufacturing facilities and a strong R&D ecosystem in the region are supporting innovation and enhancing the performance of carbon and graphite felts.
Some of the leading players in the global carbon and graphite felt market are Kureha Corporation, SGL Carbon, CFC Carbon Co., Toray Industries, and Nippon Carbon Co. These companies are working on strategies to improve their standing in the market via partnerships, mergers, innovative launches and much more.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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