Recycled Carbon Fiber Market: Current Analysis and Forecast (2022-2028)

Recycled Carbon Fiber Market: Current Analysis and Forecast (2022-2028)

Recycled carbon fibers are recovered from carbon-reinforced composites and leftovers. In recent years, recycling processes result in recycled fibers with a stiffness that is comparable to virgin fiber according to stiffness measurements. The recovery of carbon fiber by the pyrolysis process results in a slightly larger strength loss of up to 10%. In addition, recycled carbon fiber composite materials are used in industries such as wind energy, aerospace, automotive, construction, and marine sectors to reduce environmental impacts and meet the demand for reusing the product.

The Recycled Carbon Fiber Market is expected to grow at a steady rate of around 11% owing to the increasing adoption of recyclable and lightweight material in the automotive and military & defense sectors. Major companies in the market offer recycled carbon fiber for providing better solutions such as cost-effective and lightweight. For instance, in April 2022, Gen 2 Carbon, introduced a new product named G-TEX 60 gsm mats that can be processed with any resin system and used as either dry fabrics in liquid moulding processes or as prepregs for autoclave and press moulding.

• Based on type, the market is segmented into chopped carbon fiber, milled carbon fiber, and non-woven mats. The non-woven mats category is to witness the highest CAGR during the forecast period owing to various applications such as medical, healthcare, personal care, automotive, electronics, filtration, agriculture, horticulture, furnishings, construction, packaging, hygiene, wipes, and apparel. Also, non-woven mats offer advantages in terms of cost and environmental impact over others. Moreover, the entry of global players into emerging markets adds to the growth of the market. For instance, in Sep 2020, Sigmatex, a global leader in the design and manufacture of carbon fiber textiles for the composites industry announced the launch of a recycled carbon fiber non-woven fabric to the market.
• On the basis of end-user, the market is categorized into automotive, aerospace & defense, consumer goods, wind energy, industrial, sporting goods, and others. Among these, the automotive to hold a significant share of the market in 2020. This is mainly due to the rising demand for lightweight materials for improved fuel economy and reduced carbon emissions. In addition, some automotive applications, including lift gate systems, pressure containers, and battery boxes are using recycled carbon fiber which is escalating the growth of the market. For instance, in July 2020, ELG Carbon Fibre Ltd. used recycled carbon for panels and tooling in the phase 1 proof of their concept project of the modification of an existing BEV.
• For a better understanding of the market adoption of the recycled carbon fiber industry, the market is analyzed based on its worldwide presence in the countries such as North America (The United States, Canada, Rest of North America), Europe (Germany, The United Kingdom, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because of the high demand from the automotive, aerospace & defense, consumer goods, wind energy, industrial, sporting goods, and other end-user industries. Also, some of the characteristics such as easy affordability, energy efficiency, lightness, and environmental sustainability of recycled carbon fiber are increasing their demand in the region. It also has numerous emerging trends, which have a direct impact on the dynamics of the industry, including the development of various processes and methods to reduce energy consumption and cost during the recycling process. For instance, in May 2022, Boeing trialed recycled carbon fiber in cabin sidewall panels from thermoplastic composites in end-user industries such as automotive and aeronautics. Moreover, the demand for recycled carbon fibers is rising due to the growing environmental regulations by regulatory organizations like the European Union (EU) and the US Environmental Protection Agency (EPA). These regulations are driving up demand for lightweight and environmentally friendly materials. For instance, Scaling textile recycling in Europe, turning waste into value. Where, Fiber-to-fiber recycling at scale could be achieved by 2030, creating a new and sustainable circular industry in Europe.
• Some of the major players operating in the market include Vartega Inc., Toray Industries Inc., SGL Carbon SE, Carbon Conversions Inc., Shocker Composites LLC., Procotex Corporation, Alpha Recyclage Composites, Sigmatex, Zoltek, Teijin Limited.