The carbon felt and graphite felt market is projected to register a CAGR of 9.5%, in terms of value, between 2018 and 2023

NEW YORK, Oct. 23, 2018 /PRNewswire/ -- The carbon felt and graphite felt market is projected to register a CAGR of 9.5%, in terms of value, between 2018 and 2023.

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The carbon felt and graphite felt market size is estimated at USD 292.7 million in 2018 and is projected to reach USD 460.8 million by 2023, at a CAGR of 9.5% between 2018 and 2023. The increasing demand for carbon and graphite felts in the furnace and batteries applications is projected to drive the carbon felt and graphite felt market. Furthermore, the increasing demand for high-performance batteries and improved performance of carbon fiber in high temperature applications are driving the carbon felt and graphite felt market. The factor restraining the market is the absence of quality control in developing economies.
The batteries application segment is projected to grow at the highest CAGR during the forecast period, in terms of value
The batteries application segment is projected to register the highest CAGR during the forecast period.Carbon and graphite felts are used as electrodes for VRFBs due of its broad operational range, chemical stability, lightweight, and low cost.

The demand for carbon and graphite felts is increasing rapidly in the batteries application in China and India, thereby resulting in the high growth of the makret in these economies.

The carbon felt and graphite felt market in APAC is projected to grow at the highest CAGR between 2018 and 2023, in terms of value
APAC is projected to register the highest CAGR between 2018 and 2023 in the carbon felt and graphite felt market.The growing demand for carbon and graphite felts along with a string focus on emission control policies, energy savings, environmentally friendly products, and industry consolidation have encouraged innovations and technological developments in the market.

This has made the region a major hub for manufacturing carbon and graphite felts. All these factors make APAC the fastest-growing carbon felt and graphite felt market.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
• By Company Type- Tier 1 - 54%, Tier 2 - 23%, and Tier 3 - 23%
• By Designation- C level - 39%, Director level - 38%, and Others - 23%
• By Region- APAC - 46%, Europe - 23%, North America - 23%, and RoW - 8%

This report provides a comprehensive analysis of the key companies listed below:
• SGL Group (Germany)
• Toray Industries, Inc. (Japan)
• Kureha Corporation (Japan)
• Nippon Carbon Co., Ltd. (Japan)
• Beijing Great Wall Co., Ltd. (China)
• Chemshine Carbon Co., Ltd. (China)
• CM Carbon Co., Ltd. (China)
• Gansu Haoshi Carbon Fiber Co., Ltd. (China)

Research Coverage
This report covers the carbon felt and graphite felt market and forecasts its size till 2023.It includes the segmentation of the carbon felt and graphite felt market based on raw material type, type, product type, application, and region.

The Porter's five forces analysis and key market dynamics such as drivers, restraints, challenges, and opportunities influencing the growth of the carbon felt and graphite felt market have been discussed in the report. The report also provides company profiles of key players operating in the carbon felt and graphite felt market.

Benefits of Buying the Report
The report is expected to help market leaders/new entrants in the carbon felt and graphite felt market in the following ways:
• This report segments the carbon felt and graphite felt market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
• The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the carbon felt and graphite felt market.
• This report is also expected to help stakeholders understand their competitors and gain insights to better their position in the carbon felt and graphite felt market.

Read the full report: https://www.reportlinker.com/p05598590

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