Recycled Carbon Fiber Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Recycled Carbon Fiber Market grew at a CAGR of 10.5% between 2017-2021 and is estimated to be US$ 107.8Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 12.9% and is expected to reach a valuation of US$ 362.7Mn by 2032 end
The cost proposal’s main goal is to cut the price of lightweight carbon fiber composites by 50%. The cost of the fiber is typically 30 to 40% less expensive than virgin industrial fiber. This makes recycled fiber useful for sporting products because it can offer weight-saving advantages equal to pure wool at a substantially lower cost. The outdated hardwood sporting goods are replaced with recycled carbon fiber.
With an emphasis on recycling carbon fiber from the sports equipment industry, the Carbon Fiber Circular Demonstration Project was launched. Prepreg tapes are made from recovered and realigned carbon fiber fibers from worn-out or damaged carbon fiber components used in sporting goods. The alliance makers will receive the cassettes back and utilize the content in fresh sporting goods. According to preliminary demonstration data, the new carbon fiber tape occasionally performs better than the original virgin fiber.
ChemView Consulting has analyzed that developed nations like Germany, the US, and Japan emphasize expanding the usage of environmentally friendly products rather than those made from petroleum. Recycled carbon fiber is being used in more and more car types by automotive makers. The usage of recycled carbon fiber is anticipated to rise due to regulatory legislation passed by the EU and other nations, including the US, India, and Japan, particularly in the automotive and transportation end-use sector. The EU legislation establishes required emission reduction targets for brand-new automobiles to increase fuel efficiency and lower CO2 emissions.
One of the most important end-use sectors for getting carbon fibers for recycling is automotive and transportation. The thermoset and thermoplastic resin matrix is compatible with recycled carbon fiber from the automotive and transportation industries.
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Segments Covered in Report
- Automotive & Transportation
- Consumer Goods
- Sporting Goods
- Wind & Turbine Scrap
- Aerospace Scrap
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Recycled Carbon Fiber Market
- Based on the end-use, one of the most important end-use sectors for getting carbon fibers for recycling is automotive and transportation. The thermoset and thermoplastic resin matrix is compatible with recycled carbon fiber from the automotive and transportation industries.
- Based on the type, due to their expanding application in end-use industries, chopped recycled carbon fibers are the market leader. It is mostly used in thermoplastic compounding and injection molding compounding processes for commodities ranging from sporting goods to cars and electronics. Recycled carbon fiber is expected to grow at a 12.4% CAGR in its aqueous product form over the forecast period.
- Based on the region, with a market share of 33.7%, North America is anticipated to continue to be one of the major markets for recycled carbon fiber. By the end of the projected period, the market is expected to reach around US$ 43.0 million.
Key companies covered in the market study are Toray Industries Inc., SGL Carbon, Gen 2 Carbon, Karborek Recycling Carbon Fibers, Carbon Conversion, Shocker Composites, Alpha Recylage Composites, Procotex Corporation SA, Vartega INC., Carbon Fiber Recylin Inc., Carbon Fiber Remanufacturing
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Report Key Highlights and Coverage
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- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
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- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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