Global Recycled Carbon Fiber Market, Type (Chopped, Milled), Source (Automotive Scrap, Aerospace Scrap, Others), Application (Automotive, Aerospace and Defense, Wind Energy, Sporting Goods, Others) - Industry Trends and Forecast to 2031.
Recycled Carbon Fiber Market Analysis and Size
The essential factors contributing to the growth of the recycled carbon fiber market in the forecast period of 2024 to 2031 include rising demand for lightweight vehicles, shifting focus towards sustainability, and growing carbon fiber scrap recycling are some of the factors driving the market demand.
Data Bridge Market Research analyzes that the global recycled carbon fiber market which was USD 202.80 million in 2023, is expected to reach USD 426.40 million by 2031, growing at a CAGR of 9.8% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Chopped, Milled), Source (Automotive Scrap, Aerospace Scrap, Others), Application (Automotive, Aerospace and Defense, Wind Energy, Sporting Goods, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Bcircular (Germany), Carbon Fiber Remanufacturing (U.S.), Gen 2 Carbon Limited (U.K.), Carbon Conversions (U.S.), Shocker Composites, LLC (U.S.), Toray Industries, Inc. (Japan), Vartega Inc (U.S.), SGL Carbon (Germany), Sigmatex (U.K.), Procotex (Ireland)
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Market Opportunities
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Market Definition
Recycled carbon fiber is one of the most durable and lightweight materials used to create composite materials. Compared to entirely new carbon fiber, recycled carbon fiber has advantages such as a 30% cost reduction and decreased waste going to landfills. Recycling carbon fibers includes utilizing scrap materials, dry fiber waste, and thermoset carbon fiber-reinforced composites produced during these materials' processing.
Global Recycled Carbon Fiber Market Dynamics
Drivers
- Rising usage of light-weight material in automotive industry
Recycled carbon fiber products are used in hoods, wheels, front gearings, engine, and others. The use of carbon fiber products is increasing in the automotive industry due to superior strength-to-weight ratio and corrosion resistance. Carbon fiber materials are increasingly substituting metal in various automotive end uses, primarily to reduce fuel consumption. Recycled carbon fiber offer higher weight savings and thus a better fuel economy than traditional materials such as steel and aluminum. Vehicle manufacturers are obliged to reduce the average energy consumption of vehicles, and this goal can be met using lightweight products.
- Increasing investments in recycling technologies
The market is witnessing significant investments in developing advanced recycling technologies for carbon fiber materials. Various companies are investing in research and development to improve the efficiency and cost-effectiveness of recycling technologies, such as pyrolysis and solvolysis, which break down carbon fiber composites into their constituent materials for reuse.
Opportunities
- Government policies governing the usage of eco-friendly items
Developed nations such as Germany, the US, and Japan prioritize using environmentally friendly products as a substitute for petroleum-based products. Recycled carbon fiber is being used in many car models in the automotive industry. The EU and other nations, including the US, India, and Japan, will likely introduce regulatory legislation to enhance the use of recycled carbon fiber, particularly in the automotive and transportation end-use industry. The EU's laws require new cars to meet emission reduction goals to enhance fuel efficiency and lower CO2 emissions. This is creating more market opportunities.
Restraint/Challenge
- Lack of technological expertise
The market's lack of technical resources restricts growth in manufacturing recycled carbon fiber. Production processes for recycled carbon fiber must preserve their original mechanical qualities after processing. Less information is available regarding recycled carbon fiber's mechanical and processing qualities. It is necessary to apply proper processing technology to match the quality of recycled carbon fiber and virgin carbon fiber. Many recyclers lack a basic technical understanding of process standardization.
This recycled carbon fiber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the recycled carbon fiber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In August 2022, Vartega announced the expansion of its 50,000-square-foot manufacturing facility with a planned capacity of 2,000 metric tons per year. The company has expanded its production capacity ten times more than the previous capacity
- In May 2022, Gen 2 Carbon Limited established a strategic alliance with Deakin University to promote the development of carbon fiber recycling in Australia. The company expanded its conversion capabilities and extended its sales to reach new regions
Global Recycled Carbon Fiber Market Scope
The recycled carbon fiber market is segmented on the basis of type, source and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Chopped
- Milled
Source
- Automotive Scrap
- Aerospace Scrap
- Others
Application
- Automotive
- Aerospace and Defense
- Wind Energy
- Sporting Goods
- Others
Global Recycled Carbon Fiber Market Regional Analysis/Insights
The recycled carbon fiber market is analyzed and market size insights and trends are provided by country, type, source, and application as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.
North America is expected to dominate the market due to the rising demand for lightweight vehicles, growing carbon fiber scrap recycling, its increasing reuse in the wind energy sector, and the cost-effectiveness of recycled carbon fiber.
Europe is projected to observe significant amount of growth in the market owing to the fast-growing automotive and aerospace industries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Recycled Carbon Fiber Market Share Analysis
The recycled carbon fiber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to recycled carbon fiber market.
Some of the major players operating in the recycled carbon fiber market are:
- Bcircular (Germany)
- Carbon Fiber Remanufacturing (U.S.)
- Gen 2 Carbon Limited (U.K.)
- Carbon Conversions (U.S.)
- Shocker Composites, LLC (U.S.)
- Toray Industries, Inc. (Japan)
- Vartega Inc (U.S.)
- SGL Carbon (Germany)
- Sigmatex (U.K.)
- Procotex (Ireland)
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