As cited by the research report titled ‘Global Graphite Felt Market Size study, by Product Type (Soft Felt, Rigid Felt) by Application (Furnace, Batteries, Filters, Semiconductors, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global graphite felt market is projected to grow with a strong CAGR to garner significant returns over 2021-2027.
 

Rising demand of batteries coupled with the widespread adoption of electornic devices, especially since the advent of the COVID-19 pandemic, are major factors driving global graphite felt market growth. It is worth noting that battery and semiconductor manufacturing is the largest application of the product.
 

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Graphite felt is a soft insulating material that is often used in protected conditions up to 3000 degrees Celsius and is produced purely of graphite or often mixed with carbon. The product is known to be highly suitable for vacuum and gas furnaces, which may reach temperatures of up to 3000 degrees Celsius. Because of the pure graphite construction, this excellent insulation is in high demand for furnace insulation.
 

Thus, rising demand from the electronics applications along with growing investments in improving production technologies are adding traction to the overall market size. Increasing production of semiconductors is further favoring global graphite felt industry outlook.
 

Speaking of negatives, high cost of manufacturing graphite felts is likely to impede the market progression over the projected timeline.
 

Based on product type, global graphite felt industry is segmented into rigid felt and soft felt. Considering the application range, the marketplace is divided into batteries, furnace, filters, semiconductors, and others.
 

The geographical analysis of the industry includes regions like Asia Pacific, Europe, North America, and Latin America.
 

The report cites that Asia Pacific graphite felt industry is expected to be a lucrative growth avenue over the assessment period 2021-2027, on account of established manufacturing sector, coupled with increasing demand of batteries and semiconductors in India, China, & Japan. Moreover, expanding industrialization, favorable government initiatives and large consumer base in the region are positively swaying the industry trends.
 

Major players profiled in the worldwide graphite felt industry space are CeraMaterials, CFC CarbonFiberCustoms, Gansu Haoshi Carbon Fiber Co. Ltd., CM Carbon Co Ltd., Chemshine Carbon Co. Ltd., Beijing Great Wall Co. Ltd., Nippon Carbon Co. Ltd., Kureha Corporation, Toray Industries Inc., and SGL Group.