Recycled Carbon Fiber Market

Recycled Carbon Fiber Market is valued at USD 124.9 Million in 2021 and expected to reach USD 277.8 Million by 2028 with a CAGR of 12% over the forecast period. 

Global Recycled Carbon Fiber Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for recycled carbon fiber in automotive and aerospace industries, rising adoption of recyclable and lightweight materials in automotive & transportation, and growing technological advancements are some of the major factors driving the growth of the Global Recycled Carbon Fiber Market. 

Scope of Global Recycled Carbon Fiber Market Report- 

Recycled carbon fibers are produced by waste carbon fiber. Recycled carbon fiber is the result of various prepress scrap and dry fiber sources and the most carbon fiber-reinforced composite processes. There are three types of recycled carbon fiber theses are milled recycled carbon fiber, non-woven mats, and chopped recycled carbon fiber. Chopped carbon fiber is the used in various applications such as transportation and aerospace. During the production of carbon fiber-based end products, about 30% of the carbon fiber produced is used as waste. Furthermore, recycled carbon fiber has properties similar to virgin carbon fiber, which has a low thermal expansion, lightness, high tensile strength, and resistance to chemicals.  

The Covid-19 pandemic has shown a negative impact on the growth of the global recycled carbon fiber market. Recycled carbon fibers are utilized to produce carbon fiber-supported polymers that track down applications in the sports and consumer products, automotive, aviation, and marine businesses. Companies have shut down their operations and production facilities across the country to prevent the further spread of the virus. This has reduced the production capacity of recycled carbon fiber. Final uses such as automotive, aerospace, and others have halted production activities which reduces the demand for recycled carbon fiber.  

The global recycled carbon fiber market is segmented based on the type, source, end-user, and region & country level. Based on type, the global recycled carbon fiber market is segmented into milled recycled carbon fiber, non-woven mats, and chopped recycled carbon fiber. By source, the global recycled carbon fiber market is segmented into automotive scrap, aerospace scrap, and others. By end-user, the global recycled carbon fiber market is segmented into automotive & transportation, industrial, consumer goods, aerospace & defense, sporting goods, and others. 

The regions covered in the global recycled carbon fiber market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global recycled carbon fiber is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc. 

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 124.9 Million
Base year considered	2021
Forecast Period CAGR %:	12%
Market Size Expected in 2028:	USD 277.8 Million
Tables, Charts & Figures:	175
Pages	198
Recycled Carbon Fiber Companies	Toray Industries Inc., Carbon Conversions Inc., Carbon Fiber Remanufacturing, ELG Carbon Fibre Ltd., SGL Carbon, Karborek Recycling Carbon Fibers, Carbon Fiber Recycling, Inc, Shocker Composites LLC., Procotex Corporation SA, Alpha Recyclage Composites, Vartega Inc., and others.
Segments Covered	By Type, By Source, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Key Players of Global Recycled Carbon Fiber Market Report- 

Some major key players for the global recycled carbon fiber market report cover prominent players like Toray Industries Inc., Carbon Conversions Inc., Carbon Fiber Remanufacturing, ELG Carbon Fibre Ltd., SGL Carbon, Karborek Recycling Carbon Fibers, Carbon Fiber Recycling, Inc, Shocker Composites LLC., Procotex Corporation SA, Alpha Recyclage Composites, Vartega Inc., and others.  

News- 

Hexcel & Fairmat Announced Partnership to Recycle Carbon Fiber Prepreg Composites 

On November 29th, 2021; Hexcel Corporation and Fairmat announced an agreement to build the ability to recycle carbon fiber from Hexcel European operations for reuse in composite panels sold in commercial markets. As a result, by the end of 2022, most of the carbon fiber prepreg cutoff generated at Hexcel plants in Europe is intended to be reprogrammed.  

Extracthive Presented an Innovative Recycling Technology for Carbon Fiber-Reinforced Polymers at JEC World 2022 

On January 17th, 2022; Extracthive developed an innovative recycling technology called PHYre based on solvolysis for carbon fiber-reinforced polymers. In this method, the unique combination of solvent and catalyst allows depolymerization of the resin at moderate temperatures and pressures, leaving clean and damaged fibers. PHYre recycling technology offers a great alternative to existing recycling solutions. In addition, recovered carbon fibers had high mechanical and surface properties, so they can be used as an alternative to virgin carbon fiber. 

Increasing Demand for Recycled Carbon Fiber in Automotive and Aerospace Industries, Rising Adoption of Recyclable and Lightweight Materials in Automotive & Transportation, and Growing Technological Advancement are Some of the Major Factors Driving the Market Growth  

One of the major factors driving the growth of the recycled carbon fiber market is the increasing demand for recycled carbon fiber in the automotive and aerospace industries. The use of recycled carbon fiber composites in the aerospace industry can significantly reduce total weight by 20%. An important advantage of recycled carbon fiber in this industry is that it improves aerodynamic performance. This is mainly due to the fact that recycled carbon fiber allows producers to create smooth and highly complex structures. Furthermore, the rigidity of carbon fiber allows the use of swift wing designs in commercial aircraft, which reduces fuel consumption by up to five percent. On the other hand, reducing the overall vehicle weight in the automotive industry is an important challenge. It is difficult to achieve reduced gas emissions and improved fuel efficiency, as a result, automotive manufacturers are increasingly turning to composite materials such as carbon fiber, which helps them achieve higher quality production standards and also reduce the weight of the entire vehicle. For example; on May 3rd, 2022; Cannon Ergos, a main producer of advancements and processing equipment, and a part of Cannon Group, settled in Italy, Europe, reported a coordinated effort with Boeing, a manufacturer, and specialist organization of business planes, guard items, and space systems, situated in Illinois, U.S. to shape thermoplastic composite airplane sidewall boards utilizing recycled carbon fiber. 

In addition, the rising adoption of recyclable and lightweight materials in automotive & transportation is also boosting the growth of the recycled carbon fiber market. And, strict government rules and regulations are increasing the demand for environmentally friendly and easily reusable fiber and fiber-reinforced composite products. Developed countries are emphasizing on the use of environmentally friendly products. The EU has made it mandatory that 85% of the materials used in vehicles must be recyclable. Since waste generated from carbon fibers can be recovered and converted into new products, recycled carbon fiber is an ideal material for use in a variety of industries. The use of recycled carbon fiber in automotive parts makes them economical. For instance; according to the United States Environmental Protection Agency; the total production of municipal solid waste (MSW) in 2018 was 292.4 million tons or 4.9 pounds per person per day. Of the municipal solid waste generated, about 69 million tons were recycled and 25 million tons were composted. Altogether, about 94 million tons of MSW were recycled and composted, which is equivalent to a 32.1 percent recycling and composting rate.  

Moreover, the growing technological advancements is another factor to boost the global recycled carbon fiber market. For instance; as per the news published, on May 26th, 2021; Braskem, Vartega launched a new carbon fiber recycling program for 3D printing filament. However, the low-capacity utilization associated with recycled carbon fiber may hinder the growth of the global recycled carbon fiber market. Despite that, increasing adoption of recyclable and lightweight materials in automotive & transportation may create more opportunities in the global recycled carbon fiber market. 

Europe is Expected to Show a Significant Growth in the Global Recycled Carbon Fiber Market 

Geographically, Europe is expected to capture a major share in the global recycled carbon fiber market within the forecast period due to the increasing demand for lightweight materials, rising production of recycled carbon fibers, and growing demand from the automotive & transportation tin this region. Increasing demand for lightweight materials in the defense, automotive, and aerospace industries is also supplementing driving the market growth. And, the rising production of recycled carbon fibers is also fostering the market growth. When carbon fiber is added to plastic polymer resin, a composite material is formed, which is strong, durable, and lightweight. And, during the manufacture of components made from carbon fiber, more than 30% of the carbon fiber ends up as waste. Thus, manufacturers of carbon fiber are turning to the production of recycled carbon fibers. As composites are widely used in industries such as aerospace and defense, building and construction, automotive, and energy, thus the demand for recycled carbon fiber is expected to increase in Europe over the next few years. For example; ELG Carbon Fiber Ltd., the main maker of recycled carbon fibers, offers recycled carbon fibers at almost 40% less expense than industrial-grade virgin carbon fibers.   

North America is expected to be the fastest-growing region in the global recycled carbon fiber market due to rapid urbanization and increasing government spending on infrastructure projects, and the presence of key players in this region. For instance; as per the news published; on January 1st, 2021; FAIRMAT startup looks to develop disruptive technologies for recycling carbon fiber. 

Global Recycled Carbon Fiber Market Segmentation: 

By Type

• Milled Recycled Carbon Fiber  
• Non-woven Mats 

• Chopped Recycled Carbon Fiber 

By Source

• Automotive Scrap  
• Aerospace Scrap 
• Others 

By End-User 

• Automotive & Transportation  
• Industrial  
• Consumer Goods 
• Aerospace & Defense  
• Sporting Goods  
• Others

Carbon Fiber Market Key Players:

• Toray Industries Inc.
• Carbon Conversions Inc.
• Carbon Fiber Remanufacturing
• ELG Carbon Fibre Ltd.
• SGL Carbon
• Karborek
• Recycling Carbon Fibers
• Carbon Fiber Recycling, Inc
• Shocker Composites LLC.
• Procotex
• Corporation SA
• Alpha Recyclage Composites
• Vartega Inc.
• Others

On Special Requirement Recycled Carbon Fiber Market Report is also available for below region:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of Global Recycled Carbon Fiber Market Report– 

• Global Recycled Carbon Fiber Market report covers in-depth historical and forecast analysis 
• Global Recycled Carbon Fiber Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level. 
• Global Recycled Carbon Fiber Market report helps to identify opportunities in marketplace. 

• Global Recycled Carbon Fiber Market report covers extensive analysis of emerging trends and competitive landscape.