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Global Recycled Carbon Fiber Market Research Report—Forecast till 2027
According to Researcher, the Global Recycled Carbon Fiber Market is anticipated to witness a substantial CAGR of 12.75% to reach USD 276,021.5 Thousand during the review period. Recycled carbon fiber is sourced from squandering carbon fiber created because of the handling of thermoset carbon fiber-supported composites and different dry fiber and prepreg scrap sources. Around 30% of carbon fiber delivered winds up as waste during the creation of carbon fiber-based finished results. Recycled carbon strands display comparable properties as virgin carbon fiber, including high rigidity, protection from synthetic substances, low warm extension, and lightweight.
The global recycled carbon fiber market is expected to exhibit healthy market growth owing to the growing demand for lightweight materials in the automotive and aerospace and defense industries. The recycled fibers are applicable in battery boxes, pressure vessels, and lift gate systems due to their various advantages such as cost-effectiveness, energy efficiency, lightweight, and environmental sustainability. The rising demand for lightweight and environment-friendly materials owing to the increasingly strict environmental regulations by the regulatory agencies such as the European Union (EU) and the US Environmental Protection Agency (EPA) to reduce carbon emissions is fueling the demand for recycled carbon fibers. Moreover, rising emission standards in India and China have also resulted in high demand for lightweight automobile materials.
Market Segmentation
Global Recycled Carbon Fiber Market has been classified based on Type, End-Use Industry, and Region.
In terms of type segment, the global recycled carbon fiber market has been segmented into non-woven mats, milled carbon fiber, and chopped carbon fiber. The non-woven mats segment accounted for a value of USD 53,473.3 thousand in 2019 due to the increasing demand for economic alternatives to virgin carbon fiber for vehicle light-weighting by OEMs in the transportation sector.
Based on the end-use industry, the recycled carbon fiber market has been segmented into electronics, oil & gas, aerospace, sporting goods, wind energy, and others. The automotive segment is anticipated to lead the market with the highest CAGR of 13.95% owing to the highest market value of USD 52,596.7 thousand in 2019.
Regional Analysis
Geographically, the Global Recycled Carbon Fiber Market has been spread across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific contributed the largest market of more than 35% in 2019, with a market estimation of around USD 48,080.8 thousand. The high development in this area can be credited to the quick industrialization and developing financial conditions in development driven in countries like India, South Korea, and Malaysia. The offer of business vehicles in the Indian market expanded by 66% from 2014 to 2018. Likewise, the offer of business vehicles in China expanded by more than 15% during the review period.
Major Players
The prominent players operating in the Global Recycled Carbon Fiber Market are SGL Carbon (Germany), Sigmatex (UK), Teijin Limited (Japan), ZOLTEK Corporation (US), ELG Carbon Fibre Ltd (UK), Carbon Conversions (US), Carbon Fiber Recycling (US), CFK Valley Stade Recycling GmbH & Co. KG (Germany), Haden (Germany), PROCOTEX CORPORATION (Belgium), Shocker composites LLC (US), and Vartega Inc (US).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Market Overview
According to Researcher, the Global Recycled Carbon Fiber Market is anticipated to witness a substantial CAGR of 12.75% to reach USD 276,021.5 Thousand during the review period. Recycled carbon fiber is sourced from squandering carbon fiber created because of the handling of thermoset carbon fiber-supported composites and different dry fiber and prepreg scrap sources. Around 30% of carbon fiber delivered winds up as waste during the creation of carbon fiber-based finished results. Recycled carbon strands display comparable properties as virgin carbon fiber, including high rigidity, protection from synthetic substances, low warm extension, and lightweight.
The global recycled carbon fiber market is expected to exhibit healthy market growth owing to the growing demand for lightweight materials in the automotive and aerospace and defense industries. The recycled fibers are applicable in battery boxes, pressure vessels, and lift gate systems due to their various advantages such as cost-effectiveness, energy efficiency, lightweight, and environmental sustainability. The rising demand for lightweight and environment-friendly materials owing to the increasingly strict environmental regulations by the regulatory agencies such as the European Union (EU) and the US Environmental Protection Agency (EPA) to reduce carbon emissions is fueling the demand for recycled carbon fibers. Moreover, rising emission standards in India and China have also resulted in high demand for lightweight automobile materials.
Market Segmentation
Global Recycled Carbon Fiber Market has been classified based on Type, End-Use Industry, and Region.
In terms of type segment, the global recycled carbon fiber market has been segmented into non-woven mats, milled carbon fiber, and chopped carbon fiber. The non-woven mats segment accounted for a value of USD 53,473.3 thousand in 2019 due to the increasing demand for economic alternatives to virgin carbon fiber for vehicle light-weighting by OEMs in the transportation sector.
Based on the end-use industry, the recycled carbon fiber market has been segmented into electronics, oil & gas, aerospace, sporting goods, wind energy, and others. The automotive segment is anticipated to lead the market with the highest CAGR of 13.95% owing to the highest market value of USD 52,596.7 thousand in 2019.
Regional Analysis
Geographically, the Global Recycled Carbon Fiber Market has been spread across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific contributed the largest market of more than 35% in 2019, with a market estimation of around USD 48,080.8 thousand. The high development in this area can be credited to the quick industrialization and developing financial conditions in development driven in countries like India, South Korea, and Malaysia. The offer of business vehicles in the Indian market expanded by 66% from 2014 to 2018. Likewise, the offer of business vehicles in China expanded by more than 15% during the review period.
Major Players
The prominent players operating in the Global Recycled Carbon Fiber Market are SGL Carbon (Germany), Sigmatex (UK), Teijin Limited (Japan), ZOLTEK Corporation (US), ELG Carbon Fibre Ltd (UK), Carbon Conversions (US), Carbon Fiber Recycling (US), CFK Valley Stade Recycling GmbH & Co. KG (Germany), Haden (Germany), PROCOTEX CORPORATION (Belgium), Shocker composites LLC (US), and Vartega Inc (US).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
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- By Technology
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
