Tighter Recycled Fiber Market - Globa Tighter Recycled Fiber Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By End-use Industry Coverage, By Source Coverage, By Geographic Coverage and By Company)
The global market for tighter recycled fiber is poised for substantial growth, with a forecasted increase from US$0.6 billion in 2022 to US$0.9 billion by 2030. This robust expansion is expected to be driven by various factors, including increased demand for lightweight vehicles, growing environmental concerns, and a rising trend towards eco-friendly materials.
Key Growth Determinants
Increased Demand for Light Vehicles: The automotive, aerospace, and defense industries are increasingly turning to recycled carbon fiber due to its affordability, energy efficiency, lightweight design, and environmental sustainability. This shift is influenced by stringent environmental regulations and pollution standards, making lightweight materials a necessity.
Growing Environmental Concerns: Stricter environmental regulations on waste management are propelling the demand for carbon fiber recycling. The disposal of carbon-containing waste in landfills can release harmful greenhouse gases, making carbon fiber recovery crucial for a sustainable future.
Rising Boom Around Eco-friendly Materials: Recycled carbon fiber serves as an economical and ecologically beneficial alternative to raw carbon fiber. Stringent regulations promoting recyclable and environmentally friendly materials, such as the End-of-Life Automobiles Directive, further drive market growth.
Major Growth Barriers
Quality Concerns: Contamination of recycled materials poses a significant risk to the market. Impurities in the recycling stream can diminish the quality of recycled fiber, reducing its suitability for specific applications and affecting market value.
Availability of Cheaper Substitutes: Cheaper virgin fibers may pose a threat to the recycled fiber market as businesses may opt for virgin resources due to financial constraints, potentially impacting market expansion.
Regional Frontrunners
Europe Maintains Dominance, Expects Major Support from Governments: Europe led the global market for textile recycled fiber in 2022 and is expected to grow significantly due to government backing and recycling programs. Initiatives like the Trash and Resources Action Programme (WRAP) in the UK and Italy's thriving textile recycling industry are driving growth.
Asia Pacific Exhibits Rapid Growth: Asia Pacific is expected to show the fastest CAGR, driven by environmental concerns, government initiatives, technological advancements in textile recycling, and increased demand for eco-friendly packaging in the packaging and paper industries.
Competitive Landscape Analysis
The global tighter recycled fiber market is characterized by consolidation, with key players introducing new products and expanding distribution channels. Fairfield Market Research anticipates further consolidation in the market.
Leaders in the Global Tighter Recycled Fiber Space
The global tighter recycled fiber market features leading players committed to sustainable practices and innovation:
1. Unifi Inc.
2. Worn Again Technologies
3. Birla Cellulose
4. BLS Ecotech
5. The Woolmark Company
6. Ecotex Group
7. DS Smith Plc
8. International Paper Company
9. WestRock Company
10. Pratt Industries Inc.
11. UPM-Kymmene Corporation
12. Smurfit Kappa Group Plc
13. Stora Enso Oyj
14. Mondi Group
15. Sappi Limited
Tighter Recycled Fiber Market is Segmented as Below:
By End-use Industry:
• Packaging, Paper, and Pulp
• Textiles
• Automotive Parts
• Construction Materials
• Others
By Source:
• Post-Consumer Waste
• Post-Industrial Waste
• Agricultural Waste
• Others
By Geographic Coverage:
• North America
U.S.
Canada
• Europe
Germany
U.K.
France
Italy
Turkey
Russia
Rest of Europe
• Asia Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia Pacific
• Latin America
Brazil
Mexico
Argentina
Rest of Latin America
• Middle East & Africa
GCC
South Africa
Egypt
Nigeria
Rest of the Middle East & and Africa
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