Graphite shell and tube heat exchanger market to reach $255 million by 2026

The global market for graphite shell and tube heat exchangers is projected to reach approximately $255 million by 2026, according to a report by QY Research. The market is expected to grow at a compound annual growth rate (CAGR) of 6.13% from 2026 to 2032, potentially reaching $365 million by the end of that period.

These heat exchangers are highly valued in the chemical industry for their superior corrosion resistance and thermal conductivity, particularly when handling strong acids like hydrochloric, sulfuric, and phosphoric acids. Key application sectors include basic chemicals, fertilizers, chlor-alkali, fine chemicals, pharmaceuticals, and hydrometallurgy.

Market growth is being driven by the need for equipment upgrades and replacements in highly corrosive process industries. Major global players include Mersen and SGL Carbon, who leverage extensive expertise and global service networks. Meanwhile, specialized manufacturers such as Nantong Xingqiu Graphite and CG Thermal are expanding their presence through localized production and cost competitiveness.