Global Recycled Carbon Fiber Market Size To Worth USD 67.2 Million by 2032 | CAGR of 15.1%
Category: Chemicals & MaterialsGlobal Recycled Carbon Fiber Market Size Worth USD 67.2 Million By 2032
According to a research report published by Spherical Insights & Consulting, the Global Recycled Carbon Fiber Market Size to Grow from USD 50.4 Million in 2022 to USD 67.2 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period.
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Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on "Global Recycled Carbon Fiber Market Size, Share, and COVID-19 Impact Analysis, By Type (Chopped, Milled), By Source (Aerospace Scrap, Automotive Scrap), By End Use (Automotive and Transportation, Consumer Goods, Sporting Goods, Aerospace and Defence), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/recycled-carbon-fiber-market
Carbon fibre recycling is the process of recovering carbon fibres from carbon fiber-reinforced composites (CFRC). Waste carbon fibre comes in two different varieties. Offcuts of virgin carbon fibre, commonly known as scrap, from items created from dry fibre and inactive, outdated materials are included in the first category of waste. Many end use sectors, including building & construction, aerospace & military, automotive & transportation, and others, utilise new, high-performance parts created from recycled carbon fibre.
COVID 19 Impact
The Covid-19 outbreak has a negative impact on the market for recycled carbon fibre since it is dependent on the building and construction, automotive and transportation, industrial, aerospace, and other industries. Additionally, a number of vehicle companies that employ recycled carbon fibre in the manufacturing of front and rear fenders, hoods, roofs, and wheelhouses have either shut down or reduced their operations due to the danger of infection among the workers. As a result, during the COVID-19 era, the market for recycled carbon fibre momentarily deteriorated. The building and construction, as well as the transportation sectors, have now resumed full operations, which has enhanced the performance of the market for recycled carbon fibre.
Due to specific characteristics such a high strength-to-weight ratio, tensile strength, and flexibility, virgin carbon fibre is being employed more often in a variety of applications. However, given that the cost of generating and processing this fibre is far more than that of the other fibres, less raw carbon fibre is being used in various applications. There are also additional less expensive options to virgin carbon fibre, including aramid and glass. Additionally, the worldwide market for recycled carbon fibre dominated those in North America and Europe. However, there have been changes in the demand for it in emerging nations like the Asia Pacific area. For instance, the market for recycled carbon fibre has seen a rise in demand. China has started a number of research initiatives relating to carbon fibre as well as its commercialization in order to satisfy the demand. Cyclical sectors like infrastructure and automotive are expected to rise exponentially as a result of industrialisation and the rising economies of emerging nations.
Additionally, there has been a substantial imbalance between supply and demand for recycled carbon fibres. End-use industries are prepared to incorporate this recycled fibre into their goods, which causes an imbalance in the recycled carbon fibre value chain's supply and demand. Because they are aware of the qualities of virgin carbon fibre, end use industries are prepared to employ recycled carbon fibre. This is a result of the underutilization of recycled carbon fibre and its low cost.
Type Insights
Milled segment holds the largest market share over the forecast period
On the basis of type, the global recycled carbon fiber market is segmented into chopped and milled. Among these, recycled carbon fiber segment holds the largest market share over the forecast. Milled recycled carbon fibre offers strength and electrostatic dissipation. It has short strands of recycled carbon fibre and is offered in powder form. Additionally, it offers mechanical qualities like modulus and tensile strength. Milled recycled carbon fibre aids in dimensional stability and electrical conductivity. With both thermoplastic and thermoset resin systems, this kind of fibre is compatible. It is also being utilised more and more in the infrastructure, automotive, and transportation industries.
Source Type Insights
Aerospace scrap source is dominating the market with the largest market share over the forecast period
Based on the source type, the global recycled carbon fiber market is segmented into aerospace scrap and automotive scrap. Among these, the aerospace scrap source is dominating the market with the largest market share over the forecast period. Aerospace waste might comprise metal scraps, composite materials, electrical components, avionics equipment, engines, landing gear parts, fasteners, and other items. These leftovers might be the consequence of production errors, alterations, redesigns, mishaps, or the retirement of older aircraft. Although recycled carbon fibre has qualities that are better to those of E-glass and S-glass fibre, it is rarely widely utilised in many applications because people are unaware of its benefits. In addition, there is a lot of room for recycled carbon fibre in the fields of wind energy, sports equipment, marine, aerospace, and military.
End Use Insights
Sporting goods accounted the largest market share over the forecast period
On the basis of end use industry, the global recycled carbon fiber market is segmented into automotive and transportation, consumer goods, sporting goods, aerospace and defense. Among these, the sporting goods accounted the largest market share over the forecast period. When participating in physical activity and competitive sports, they are designed to enhance athletic ability, safety, and pleasure. Sporting goods might vary greatly depending on the sport or activity they are intended for. They provide low weight, thermal stability, and chemical stability and are also utilised in non-woven textiles. Sports and recreational products made of composite materials have a high tensile strength to weight ratio and are easy to form.
Regional Insights
North America is dominating the market with the largest market share over the forecast period
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North America is dominating the market with the largest market share over the forecast period. The market under research is growing in the region of North America due to the constantly developing automotive and aerospace industries. This market is expected to grow as a result of the existence of well-known automakers, leading recycled carbon fibre manufacturers, and technological advancements involving recycled carbon fibre products. The United States is the region's largest consumer of recycled carbon fibre, which is used by several large industries. Due to the increased need for lightweight materials to reduce vehicle weight, recycled carbon fibre utilisation in the automotive and aerospace end-use industries has increased significantly in the region.
On the other hand, due to improvements in composite technology solutions and the widespread use of composites in pipe and tank, aerospace and military, automotive and transportation, building, and infrastructure, Europe is expected to see the fastest market growth throughout the projection period.
Major vendors in the Global Recycled Carbon Fiber Market include Gen 2 Carbon Limited, SGL Carbon, Vartega Inc, Shocker Composites, LLC, Carbon Fiber Remanufacturing, Sigmatex, Toray Industries, Inc., Procotex, Carbon Conversions, Bcircular.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global UV Stabilizers Market based on the below-mentioned segments:
Recycled Carbon Fiber Market, Type Analysis
- Chopped
- Milled
Recycled Carbon Fiber Market, Source Analysis
- Aerospace Scrap
- Automotive Scrap
Recycled Carbon Fiber Market, End Use Analysis
- Automotive and Transportation
- Consumer Goods
- Sporting Goods
- Aerospace and Defence
Recycled Carbon Fiber Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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