Recycled Carbon Fiber Market By Type (Chopped, & Milled), End-user Industry (Consumer Goods and Electronics, Aerospace and Defense), Application (Automotive, & Sporting Good), & Region for 2024-2031
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRecycled Carbon Fiber Market By Type (Chopped, & Milled), End-user Industry (Consumer Goods and Electronics, Aerospace and Defense), Application (Automotive, & Sporting Good), & Region for 2024-2031
Recycled Carbon Fiber Market Valuation- 2024-2031
The demand for the Recycled Carbon Fiber Market is driven by various factors. Initially, there is a growing requirement for lightweight materials in industries such as aerospace, automotive, and wind energy, where carbon fiber composites have become a popular choice due to their strength and low weight. This is driving the market size to surpass the USD 158.2 Million valued in 2023 to reach a valuation of around USD 420.57 Million by 2031.
Furthermore, technological advancements have made the recovery of carbon fiber more efficient and cost-effective, making it a viable alternative to virgin carbon fiber. However, scaling up production remains challenging due to the limited availability of recycled carbon fiber. is enabling the market grow at a CAGR of 13% from 2024 to 2031
Recycled Carbon Fiber MarketDefinition/ Overview
Recycled carbon fiber is derived from waste carbon fiber collected from various sources, including manufacturing scraps, end-of-life products, and post-industrial waste. Retaining many properties akin to virgin carbon fiber, such as high strength, stiffness, and lightweight nature, recycled carbon fiber offers an environmentally friendly and cost-effective alternative. Its utilization in the automotive industry is growing due to its superior strength-to-weight ratio and resistance to corrosion.
Carbon fiber components are increasingly replacing traditional materials in various automotive applications, primarily aimed at reducing energy consumption. Vehicle manufacturers are under pressure to decrease the average energy consumption of vehicles, a goal that can be achieved through the adoption of lightweight products.
The surge in electric vehicle adoption and stringent regulatory standards for maintaining energy efficiency standards are key factors expected to drive further demand for recycled carbon fiber in the automotive sector.
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How Will Lightweight Vehicles is Drive the Growth of Recycled Carbon Fiber Market?
The automotive industry is witnessing a growing demand for lightweight vehicles driven by the enhance fuel efficiency and comply with increasingly stringent emission regulations. As automakers endeavour to develop vehicles that consume less fuel and emit fewer greenhouse gases, the need for innovative lightweight materials becomes paramount. Recycled carbon fiber emerges as a compelling solution, offering a combination of strength and low weight that makes it highly desirable for car manufacturers.
Furthermore, the adoption of recycled carbon fiber aligns with broader industry trends towards sustainability and environmental responsibility. By repurposing waste carbon fiber materials from manufacturing scraps, end-of-life products, and post-industrial waste, car manufacturers can minimize their environmental footprint and contribute to the circular economy.
The rising demand for lightweight vehicles in the automotive industry underscores the significance of materials like recycled carbon fiber. As car manufacturers strive to meet fuel efficiency targets and comply with emissions regulations, recycled carbon fiber offers a compelling solution that combines strength, sustainability, and performance, driving its increasing adoption in the automotive sector.
How Quality Maintenance is Hampering the Growth of Recycled Carbon Fiber Market?
In the recycling of carbon fiber market Maintaining quality poses a significant challenge due to the potential alteration of its properties during the recycling process. The aerospace sector, in particular, relies heavily on materials with exceptional mechanical properties to withstand extreme conditions and stringent safety requirements.
Any compromise in the strength of carbon fiber components could jeopardize the overall reliability and safety of aerospace applications. Therefore, ensuring the quality and consistency of recycled carbon fiber becomes imperative to meet the rigorous standards of the aerospace industry.
In conclusion, while maintaining quality remains a significant challenge in the recycling of carbon fiber, ongoing research and development efforts are focused on mitigating the impact of the recycling process on material properties. By advancing recycling technologies and implementing robust quality control measures, the aerospace industry can leverage the benefits of recycled carbon fiber while upholding the highest standards of safety and performance.
Category-Wise Acumens
Will the Chopped Fibres Segment Propel the Recycled Carbon Fiber Market?
The Recycled Carbon Fiber Market is segmented based on type into chopped and milled recycled carbon fiber, with chopped fibers currently dominating the segment due to their widespread usage across various end-use industries. Chopped recycled carbon fibers find extensive application in injection moulding compounding and thermoplastic compounding processes, catering to a diverse range of products spanning from athletic goods to automobiles and electronics.
This segment is poised to experience substantial growth both in volume and value, driven by its versatility and suitability for a wide array of manufacturing processes and applications. In terms of market share, chopped recycled carbon fiber is expected to maintain a commanding position, accounting for more than two-thirds of the market value in 2023. As industries continue to seek lightweight, durable, and sustainable materials for their products, the demand for chopped recycled carbon fiber is anticipated to remain robust, further solidifying its dominant position in the market.
Will Automotive and Transpiration Segment Emerg the Recycled Carbon Fiber Market?
The automotive and transportation sectors emerge as the largest end-use industries for recycled carbon fiber, with the industrial sector following closely behind. One of the primary drivers propelling the global expansion of the Recycled Carbon Fiber Market is the increasing adoption and demand for this material within the automotive and transportation industries.
Within the automotive and transportation segment, recycled carbon fiber is expected to generate a substantial incremental dollar opportunity of US$ 49.7 million during the forecast period, reflecting the growing significance of this material in the sector’s quest for lightweight, durable solutions.
This regulatory framework encourages the adoption of sustainable materials like recycled carbon fiber, thereby bolstering market growth in the region.
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Country/Region-wise Acumens
Will Growing Emphasis on Minimizing Carbon Emissions Across Industries Drive the North America?
The North America is poised to maintain its position as one of the leading markets in Market for Recycled Carbon Fiber, with market projections indicating a value of approximately US$ 43.0 million by the end of the forecast period. This market segment is expected to command a significant percentage share of 88.3% in the North American Recycled Carbon Fiber Market.
A notable contributing factor to this growth trajectory is the emergence of new entrants in the country, such as Vartega and Mallinda, who are actively promoting the utilization and technical advantages of recycled carbon fiber.
Over the forecast period, several trends are expected to drive the expansion of the Recycled Carbon Fiber Market in the USA. These include a growing emphasis on minimizing carbon emissions across industries and an increasing adoption of recycled carbon fiber within the automotive sector.
As industries continue to prioritize sustainability and seek innovative solutions to address environmental challenges, the demand for recycled carbon fiber is expected to experience sustained growth, driving market expansion in the years to come.
What factors are bolstering the demand for Recycled Carbon Fiber in Asia-Pacific?
In line with its ambitious goals of reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060, Asia-Pacific has unveiled plans to significantly enhance its recycling efforts, particularly in the textile sector.
According to a document jointly released by the China aims to recycle 25% of its textile waste and produce 2 million tonnes of recycled fiber by 2025. To achieve this, the country is focusing on supporting low-carbon, environmentally friendly textile production, expanding its recycling infrastructure, and maximizing the utilization of textile waste.
By 2030, there is an expectation that both manufacturers and consumers will possess a heightened understanding of the value of recycling, further bolstering recycling initiatives across various sectors.
Competitive Landscape
The Recycled Carbon Fiber Market is a dynamic and competitive landscape, marked by a diverse array of players competing for market dominance. These industry participants are actively pursuing strategies to consolidate their foothold, including collaborations, mergers, acquisitions, and garnering political support. The key players operating in the market include
ELG Carbon Fibre Ltd. Vartega Inc., Toray Industries Inc., Karborek Recycling carbon fibers, Procotex Corporation SA, SGL Carbon, Adherent Technologies Inc., Kordsa Global Inc., Gen 2 Carbon Limited, Shocker Composites, Mitsubishi Chemical Corporation, Carbon Conversions Inc., Carbon Fiber Recycling Inc.
Latest Developments
- In August 2022, Vartega expanded its production capacity to 2,000 metric tons per year. The completion of Building 2 at Pecos Logistics Park in Denver, Colorado owned by institutional investors advised by J.P. Morgan Global Alternatives will serve as Vartega’s new 50,000-square-foot manufacturing facility and headquarters.
- In March 2022, Apply Carbon, a subsidiary of Procotex Corp. SA, announced investments to bolster its production of recycled carbon fibers and streamline the integration of Gen 2 Carbon’s short carbon fiber business. This merger aims to enhance process capabilities, improve quality, and increase capacity to meet the growing global demand for recycled carbon fiber.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2018-2031 |
| Growth Rate | CAGR of ~13% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2018-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Million |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | ELG Carbon Fibre Ltd. Vartega Inc., Toray Industries Inc., Karborek Recycling carbon fibers, Procotex Corporation SA, SGL Carbon, Adherent Technologies Inc., Kordsa Global Inc., Gen 2 Carbon Limited, Shocker Composites, Mitsubishi Chemical Corporation, Carbon Conversions Inc., Carbon Fiber Recycling Inc. |
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Recycled Carbon Fiber Market, By Category
Type
- Chopped
- Milled
End-user Industry
- Consumer Goods
- Electronics
- Aerospace and Defense
- Wind Energy
- Automotive
- Sporting Goods
- Industrial
Application
- Automotive
- Sporting goods
Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
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