Carbon Felt and Graphite Felt Market By Type, By Demand, By Product, By Geography – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2019 – 2026

The Global Carbon Felt and Graphite Felt Market is estimated to reach USD 458.8 million by 2023, and is set to register CAGR of 9.5% over forecast period 2020-2026. Increased demand for high-performance batteries and furnaces coupled with rising demand for carbon fiber due to its increased levels of performance in high temperatures are expected to influence the market growth.

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As the market witness industrial significance for carbon and graphite felt for VRFBs there are various methods to generated vapour grown carbon fibers on graphite felt. Therefore, from the energy conservation point of view, energy and storage technologies is anticipated to witness a high demand on the basis of generation of clean energy. This technology has received a huge attention owing to longer shelf life, high turnaround time and prolonged charging capacity. Carbon fibers have a wide spectrum of features in the fabrication methods. Graphite felt is produced through polymer pyrolysis that can be used in enhancing conductivity and crystallinity.

Carbon Felt and Graphite Felt Market Trends, Drivers and Opportunities:

Carbon felt and graphite felt market is significantly driven by extensive use in industries for heating and insulation purpose. Developments in vanadium redox flow batteries is likely to trigger the market developments in the near future. Innovation practices for storage techniques is anticipated to stimulate future developments during the forecast period. In addition, the dependency on conventional fuels is likely to exhaust in the due course of time, with this anticipation the market is expected to gain a significant advantage in the near future. On the other hand, significant costs of production and dearth of technical competence is likely to hinder the market growth in the forecast period.