Global Recycled Carbon Fiber Market Insights Forecasts to 2032

• The Recycled Carbon Fiber Market Size was valued at USD 50.4 Million in 2022.
• The Market Size is Growing at a CAGR of 15.1% from 2022 to 2032
• The Worldwide Recycled Carbon Fiber Market Size is expected to reach USD 67.2 Million by 2032
• Europe is expected to grow the fastest during the forecast period

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The Global Recycled Carbon Fiber Market Size is expected to reach USD 67.2 Million by 2032, at a CAGR of 15.1% during the forecast period 2022 to 2032.The global recycled carbon fiber market is expected to expand significantly as technological advancements and research efforts continue, providing a viable solution for sustainable material demands across diverse industries.      

 

Market Overview

The global recycled carbon fiber market is a rapidly expanding sector of the materials industry, driven by rising demand for environment friendly and sustainable materials. Carbon fiber has long been used in a variety of industries, including aerospace, automotive, wind energy, and sporting goods, due to its exceptional strength-to-weight ratio. However, the production of virgin carbon fiber consumes a lot of energy and produces a lot of waste. By reusing carbon fiber waste generated during manufacturing processes and end-of-life products, the recycled carbon fiber market aims to address these environmental concerns. The recycling process entails disassembling carbon fiber composites and extracting fibers for reuse while retaining a significant portion of their original properties. This environment friendly approach not only reduces carbon emissions and waste, but it also contributes to substantial cost savings. The global recycled carbon fiber market is being driven by a number of key factors. Environmental regulations, as well as increased awareness of sustainability issues, have prompted industries to seek more environmentally friendly alternatives. Furthermore, the market benefits from the increasing use of lightweight materials in a variety of applications, as recycled carbon fiber helps to reduce overall product weight without sacrificing performance.

 

Report Coverage

This research report categorizes the market for the recycled carbon fiber market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the recycled carbon fiber market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the recycled carbon fiber market.

 

Driving Factors

Recycled carbon fiber is significantly less expensive than virgin carbon fiber. The recycling process consumes less energy and raw materials, resulting in lower production costs. As industries strive to reduce costs and increase profit margins, the cost-effectiveness of recycled carbon fiber becomes more appealing. Governments and environmental organisations around the world are enacting stricter regulations and standards in order to promote sustainability and reduce waste. Many countries have implemented policies that encourage the use of recycled materials, encouraging industries to incorporate recycled carbon fibre into their products and manufacturing processes. Initially, recycled carbon fiber was used in a few industries. However, as the industry matures and more high-quality recycled fibers become available, its application has spread to a variety of industries, including aerospace, automotive, sporting goods, wind energy, and electronics. The versatility of recycled carbon fiber, as well as its ability to replace traditional materials, has accelerated its use in a variety of applications.

 

Restraining Factors

Maintaining the same mechanical properties and performance as virgin carbon fiber is one of the primary challenges for recycled carbon fiber. The recycling process can reduce the strength and stiffness of the fiber, making it less suitable for high-performance applications. Manufacturers continue to face significant challenges in ensuring consistent and high-quality recycled carbon fiber. The current supply of carbon fiber waste for recycling is limited, owing to the small scale of end-of-life composite products. Although demand for recycled carbon fiber is growing, ensuring a consistent and sufficient supply of feedstock can be difficult, especially when compared to large-scale production of virgin carbon fiber.

 

Market Segmentation

The Global Recycled Carbon Fiber Market share is classified into type, source, and end-use industry.

• The chopped segment is expected to hold the significant share of the global recycled carbon fiber market during the forecast period.  

The global recycled carbon fiber market is categorized by type into chopped and milled. Among these, the chopped segment is expected to hold the significant share of the global recycled carbon fiber market during the forecast period. Chopped recycled carbon fibers are widely used in industries that prefer short fibers, such as thermoplastic compounding, injection molding, and sheet molding compounds (SMC). They improve the final product's mechanical properties, such as strength and stiffness. Because of its ease of handling and better dispersion in thermoplastic matrices, chopped recycled carbon fiber is popular for a variety of lightweight and high-performance applications.

 

• The aerospace scrap segment is expected to hold the largest share of the global recycled carbon fiber market during the forecast period.           

Based on the source, the global recycled carbon fiber market is divided into aerospace scrap, automotive scrap, and others. Among these, the aerospace scrap segment is expected to hold the largest share of the global recycled carbon fiber market during the forecast period. Carbon fiber-reinforced composites are widely used in the aerospace industry to manufacture aircraft components and structures. Certain materials may generate scrap during aircraft production and maintenance, including leftover or damaged carbon fiber parts. Aerospace scrap is carbon fiber composite waste generated during the aircraft manufacturing, assembly, and maintenance processes.      

      

• The automotive & transportation segment is expected to dominate the largest share of the global recycled carbon fiber market during the forecast period.                  

Based on the end-use industry, the global recycled carbon fiber market is divided into automotive & transportation, consumer goods, sporting goods, aerospace & defense, and others. Among these, the automotive & transportation segment is expected to dominate the largest share of the global recycled carbon fiber market during the forecast period. The growing emphasis on sustainability and lightweight materials in the automotive and transportation industries has been a major driver of increased adoption of recycled carbon fiber.     

             

Regional Segment Analysis of the Global Recycled Carbon Fiber Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America accounted for the largest share of the global Recycled Carbon Fiber market in 2022.

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North America accounted for the largest share of the global Recycled Carbon Fiber market in 2022. The United States, Canada, and Mexico make up this region. The mature aerospace and automotive industries in North America drive the demand for recycled carbon fiber in a variety of applications. Furthermore, there is a growing emphasis on sustainability and environmental regulations, which is leading to an increase in the use of recycled carbon fiber materials.

 

Europe is expected to grow at the fastest pace in the global recycled carbon fiber market during the forecast period. European countries with well-established aerospace, automotive, and wind energy sectors include Germany, the United Kingdom, France, and Italy. Due to stringent environmental regulations and initiatives promoting circular economy practices, the European region is a significant contributor to the recycled carbon fiber market.     

 

The Middle East and Africa are emerging markets for recycled carbon fiber applications. The Middle East's aerospace and defense industries, as well as Africa's growing interest in lightweight materials for renewable energy projects, are driving up demand for recycled carbon fiber.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global recycled carbon fiber along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Toray Industries, Inc.  
• Gen 2 Carbon Limited  
• Carbon Conversions, Inc. 
• Carbon Fiber Recycling  
• Shocker Composites, LLC.  
• Procotex  
• Carbon Fiber Remanufacturing  
• Alpha Recyclage Composites 
• Mitsubishi Chemical Group 
• CATACK-H
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In April 2022, Gen 2 Carbon Limited has announced the creation of a new product in the G-TEX product line. G-TEX 60 gsm is compatible with any resin system. It is expected to benefit the automotive and transportation, aerospace, and wind energy industries.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Recycled Carbon Fiber Market based on the below-mentioned segments:

 

Global Recycled Carbon Fiber Market, By Type

• Chopped
• Milled

 

Global Recycled Carbon Fiber Market, By Source

• Aerospace Scrap
• Automotive Scrap
• Others

 

Global Recycled Carbon Fiber Market, By End-use Industry

• Automotive & Transportation
• Consumer goods
• Sporting Goods
• Aerospace & Defense
• Others

 

Global Recycled Carbon Fiber Market, By Region

• 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