Recycled Carbon Fiber Market is Forecasted to Reach US$ 295.4 Million in 2028, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global recycled carbon fiber market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2022: US$ 104 million

Market Size in 2028: US$ 295.4 million

Growth (CAGR): 18.1% during 2023-2028

Leading Form Type: Chopped Carbon Fiber

Leading Source Type: Aerospace Scrap

Leading Waste Form Type: Prepreg

Leading End-Use Industry Type: Automotive & Transportation

Leading Region: Europe

Forecast Period: 2023-2028

Trend Period: 2017-2021

Base Year: 2022

Number of Segments Covered: 5

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Recycled Carbon Fiber Market:

The global recycled carbon fiber market is segmented based on form type, source type, waste form type, end-use industry type, and region.

Based on form type – The recycled carbon fiber market is segmented into milled fiber, chopped fiber, and nonwoven. Chopped carbon fiber is expected to remain the dominant type in the market during the forecast period due to its use in a wide variety of applications, including composites. In addition to that, chopped recycled carbon fiber is suitable for various compounding processes and industrial mixing such as injection molding. Also, chopped carbon fiber is less expensive than milled carbon fiber, is easier to process, can be used to produce a wide variety of products, and has good mechanical properties. All these characteristics are fueling the demand for chopped recycled carbon fibers in the foreseeable future.

Based on source type – The market is segmented into aerospace scrap, automotive scrap, and other scraps. Aerospace scrap is anticipated to remain the biggest source of carbon fiber scraps during the forecast period as the aerospace industry heavily relies on carbon fiber composites for their lightweight strength, enhancing fuel efficiency and performance. Carbon fiber composites account for a considerable amount of an aircraft's weight, especially in newer, more advanced models. For instance, the Boeing 787 Dreamliner is composed of approximately 50% carbon fiber-reinforced polymer (CFRP) by weight, which is used in the wings, fuselage, and other key structural components. Similarly, the Airbus A350 XWB is one of the most carbon fiber-intensive commercial aircraft in the world, with almost 53% of its weight made up of CFRP. It is estimated that about 6,000 aircraft will reach the end of their service life by 2030. With aircraft retiring or sustaining damage, substantial carbon fiber waste is generated. Strict safety and regulatory standards prompt component replacements, creating a consistent stream of recyclable materials.

Based on waste form type – The market is segmented into dry fibers, textiles, prepreg, and composites. Prepreg is expected to remain the dominant waste form in the market during the forecast period. Prepregs are made by impregnating carbon fiber with a precisely measured amount of epoxy resins or other matrix materials. This results in a consistent and controlled fiber orientation within the material. This controlled orientation makes it easier to separate and recover the carbon fibers during the recycling process, as they are already aligned in a specific direction. In addition to that, prepregs are typically free from contaminants such as paint, adhesives, or other materials that can be found on used or post-consumer carbon fiber composites. This makes the recycling process more efficient and results in higher-quality recycled carbon fibers. Also, prepregs are used for the manufacturing of a variety of components for aircraft, automotive, and wind energy due to the need for lightweight materials and increasing demand for composites. Consequently, there may be a significant amount of prepreg waste generated in these industries, leading to its prominence in carbon fiber recycling efforts.

Based on end-use industry type – The market is segmented into automotive & transportation, consumer goods, sporting goods, and others. Automotive & transportation are likely to be the biggest user of recycled carbon fiber during the forecast period. Recycled carbon fiber has a variety of applications in the automotive & transportation industry. Recycled carbon fiber is used for automotive interiors and exterior parts, such as engine covers, anti-corrosion covers, front and rear bumpers, roofs, and structural parts. The increasing demand for lightweight vehicles coupled with cost-effective alternatives of virgin carbon fiber (recycled carbon fiber) is expected to fuel the demand for recycled carbon fiber in the automotive & transportation industry.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe is projected to maintain its position as the biggest market for recycled carbon fibers. This growth outlook is majorly attributed to the following–

·      Due to the presence of major players, including Procotex Corporation, Gen 2 Carbon Limited, Fairmat, and Alpha Recyclage Composites, actively involved in carbon fiber recycling in the region.

·      Recycling carbon fiber can offer significant opportunities in the European market due to the presence of major automotive OEMs coupled with the growing demand for recycled carbon fibers from the automotive industry.

·      Additionally, Europe's strong emphasis on the circular economy aligns perfectly with carbon fiber recycling, garnering support from policymakers and stakeholders.

·      Additionally, Europe's thriving automotive and aerospace industries, committed to lightweight and sustainability, fuel the demand for recycled carbon fibers, further bolstering the region's leadership in this industry.

Recycled Carbon Fiber Market Drivers:

Some of the key drivers listed in the report are given below.

·      The escalating demand for carbon fiber, alongside its resource-intensive manufacturing, intensifies the emphasis on recycling for resource preservation.

·      Stringent regulations on waste management and carbon emissions necessitate greener strategies, rendering carbon fiber recycling increasingly appealing.

·      Furthermore, economic prudence accentuates its adoption, as recycling curtails reliance on costly virgin carbon fiber. Collectively, the interplay of environmental consciousness, resource efficiency, regulatory imperatives, and economic incentives propel the advancements of carbon fiber recycling endeavors.

Top Companies in the Recycled Carbon Fiber Market:

Stratview Research has identified the following companies as the top market players (arranged alphabetically).

• Zoltek Corporation
• Fairmat
• Procotex Corporation
• Gen 2 Carbon Limited
• Carbon Fiber Recycling Inc.
• Vartega Inc.
• SGL Carbon
• Carbon Conversions
• Teijin Limited
• Mitsubishi Chemical Group Corporation
• Karborek Recycling Carbon Fibers

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

·      Carbon Fiber Textiles Market

·      Carbon Fiber Prepreg Market

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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