Recycled Carbon Fiber Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Recycled Carbon Fiber Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Global Recycled Carbon Fiber Market is projected to grow at an impressive rate through 2028. Recycled carbon fiber is one of the strongest and lightest elements used to create composite materials. It is used to cut down the waste generated going to landfills and costs incurred to the manufacturers. The overall cost is 30% less than virgin carbon fiber. This in turn is expected to create huge growth prospects for the growth of global recycled carbon fiber market in the coming years.

Virgin carbon fiber, frequently used in automotive and industrial applications, can be replaced with recycled carbon fiber, which is more cost-effective and environmentally beneficial. Various dry fibers and pre-preg scrap are common sources of recycled carbon fiber. The mechanical properties of recycled carbon fibers are identical to those of virgin carbon fibers. They are best utilized in producing thermoplastics, non-wovens, and molding compounds. All these factors are expected to drive the growth of global recycled carbon fiber market through 2028.

High Demand from Automotive & Aerospace Industries

Carbon fibers have widespread use in the transport industry, mainly in aerospace and automotive industries. The use of carbon fiber in automobiles and aircrafts help in addressing the issue of reducing overall vehicle weight. Fuel efficient vehicles production possibility has significantly increased due the availability of recycled carbon fiber. Recycled carbon fiber helps in reducing component downtime and extending the shelf life of products. This has certainly increased the use of recycled carbon fiber across various industries. Various companies operating in the automotive and aerospace market are widely using recycled carbon fiber. For instance, recycled carbon fiber was used in Boeing 787 which made it 20% lighter and also increased the fuel economy by 10-12%. In the case of the Boeing 787-9, which consumes approximately 5,400 liters of fuel per hour, and a 10% improvement in fuel economy. Similarly, MW Company uses recycled carbon fiber in vehicle parts like the roof.

Supportive Government Policies & Initiatives

The growing use of eco friendly products over petroleum-based products especially in the developed parts of the world such as Germany, United States, Japan, among others is expected to drive the market growth through 2028. The use of recycled carbon fiber has significantly increased from the automotive industry. The imposition of stringent regulatory legislation by various European countries, United States, Japan and Germany are set to increase the use of recycled carbon fiber especially from transportation industries such as automotive, aerospace and railways. The European legislation has set mandatory emission reduction targets for new cars in order to improve fuel economies and reduce carbon dioxide emissions.

Market Segmentation

Global Recycled Carbon Fiber Market can be segmented based on type, source, end user, and region. Based on type, market can be segmented into chopped recycled carbon fiber, milled recycled carbon fiber, and others. Based on source, market can be segmented into aerospace scrap, automotive scrap, and other scraps. Based on end-user, market can be segmented into automotive & transportation, consumer goods, sporting goods, industrial, marine, aerospace & defence, and others.

Market players

Shocker Composites, Vartega Inc., Alpha Recyclage Composites, Carbon Fiber Recycling, Inc., Carbon Fiber Remanufacturing, ELG Carbon Fibre Ltd., Procotex Corporation SA, Toray Industries, Inc., SGL Carbon, and Carbon Conversions Inc are some of the key players operating in the Global Recycled Carbon Fiber Market.

Recent Developments:

• In 2021, Procotex Corporation acquired ELG Carbon Fibre. This acquisition helped the company produce larger capacities of carbon fiber and feedstocks.
• In 2020, Mitsubishi Chemical Corporation acquired two German carbon fiber recycling companies, CFK Valley Stade Recycling GmbH & Co. KG (CFK) and carboNXT GmbH (carboNXT), through its subsidiary Mitsubishi Chemical Advanced Materials AG.

Report Scope:

In this report, Global Recycled Carbon Fiber Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Global Recycled Carbon Fiber Market, By Type:
• Chopped Recycled Carbon Fiber
• Milled Recycled Carbon Fiber
• Others
• Global Recycled Carbon Fiber Market, By Source:
• Aerospace Scrap
• Automotive Scrap
• Other Scraps
• Global Recycled Carbon Fiber Market, By End User:
• Automotive & Transportation
• Consumer Goods
• Sporting Goods
• Industrial
• Marine
• Aerospace & Defence
• Others
• Global Recycled Carbon Fiber Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey
• Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in Global Recycled Carbon Fiber Market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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