Recycled Carbon Fiber Market by Type (Chopped, Milled), Source (Aerospace Scrap, Automotive Scrap), End-use Industry (Automotive & Transportation, Consumer Goods, Sporting Goods, Industrial, Marine, Aerospace & Defense), Region - Global Forecast to 2025
The recycled carbon fiber market is projected to register a CAGR of 12.0% during the forecast period.
The global recycled carbon fiber market size is projected to grow from USD 109 million in 2020 to USD 193 million by 2025, at a CAGR of 12.0% during the forecast period. Recycled carbon fiber has properties similar to virgin carbon fiber. For instance, its modulus is in a similar range as that of virgin carbon fiber. Even if the tensile strength of recycled carbon fiber reduces by 10% to 20% while processing, it still holds high-performance properties similar to virgin carbon fiber.
Automotive & transportation is the fastest-growing end-use industry of recycled carbon fiber in terms of value.
The automotive & transportation end-use industry dominated the global recycled carbon fiber market. Owing to the superior properties, such as high strength-to-weight ratio, flexural strength, tensile strength, and cost-effectiveness, recycled carbon fiber is used in the automotive & transportation industry. It is used in chassis panels, floors, roof panels, spare wheel wells, boot or bonnet inners, and other automotive parts. It is also used in floors, roof panels, walls, and more complex interior or exterior components of trains.
Chopped recycled carbon fiber is the faster-growing segment of the market in terms of value.
The chopped recycled carbon fiber segment dominated the market in terms of value in 2019. Chopped recycled carbon fiber offers high-performance properties. It has high strength and modulus, low density, dimensional stability, and low thermal expansion. It also offers cost-saving benefits.
Aerospace scrap is the fastest-growing source of recycled carbon fiber in terms of value.
Aerospace scrap is the major source of recycled carbon fiber. The aerospace industry consumes a large amount of virgin carbon fiber in manufacturing various composite parts. Aircraft manufacturers have taken several initiatives to strengthen the standards for environment-friendly management in the discarding of end-of-life aircraft parts. For instance, Boeing has made an agreement with ELG Carbon Fibre to supply its composite scrap to the company. They are encouraging the recycling of composite components and re-use of fibers obtained from recycled composite scrap for manufacturing aerospace composite parts.
“Europe is the fastest-growing recycled carbon fiber market.”
Europe is projected to register the highest CAGR in terms of value in the global recycled carbon fiber market during the forecast period. The region has the presence of prominent recycled carbon fiber manufacturers, such as ELG Carbon Fibre Ltd. (UK), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), and SGL Carbon (Germany). The growth of the market in this region is supported by the advancement of composite technology solutions and penetration of composites in aerospace & defense, pipe & tank, construction & infrastructure, automotive & transportation, and wind energy industries. The governments of many countries in the region are focusing on the use of environment-friendly products. This is further supporting the growth of the recycled carbon fiber market in Europe.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
By Designation- C Level- 50%, Director Level- 20%, and Executives- 30%
By Region- North America- 15%, Europe- 50%, APAC- 20%, Latin America-5%, MEA-10%,
The report provides a comprehensive analysis of company profiles listed below:
Toray Industries Inc. (Japan)
ELG Carbon Fibre Ltd. (UK)
SGL Carbon (Germany)
Carbon Conversions Inc. (US)
Carbon Fiber Recycling, Inc. (US)
Shocker Composites LLC. (US)
Procotex Corporation SA (Belgium)
Alpha Recyclage Composites (France)
Carbon Fiber Remanufacturing (US)
Vartega Inc. (US)
This report covers the global recycled carbon fiber market and forecasts the market size until 2025. The report includes the market segmentation –type (chopped and milled), source (aerospace scrap, automotive scrap, and others), end-use industry (automotive & transportation, consumer goods, sporting goods, industrial, marine, aerospace & defense, and others) and region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. The report also provides company profiles and competitive strategies adopted by the major players in the market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global recycled carbon fiber market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report will help stakeholders understand the pulse of the recycled carbon fiber market and provide them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to enhance their market position. The competitive landscape section includes the competitor ecosystem, expansion, partnership, agreement, new product launch, and joint venture.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall recycled carbon fiber market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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