DUBLIN--(BUSINESS WIRE)--The "Recycled Carbon Fiber Market by Type (Chopped, Milled), Source (Aerospace Scrap, Automotive Scrap), End-use Industry (Automotive & Transportation, Consumer Goods, Sporting Goods, Industrial, Marine, Aerospace & Defense), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global recycled carbon fiber market size is projected to grow from USD 109 million in 2020 to USD 193 million by 2025, at a CAGR of 12.0% during the forecast period.
Recycled carbon fiber has properties similar to virgin carbon fiber. For instance, its modulus is in a similar range as that of virgin carbon fiber. Even if the tensile strength of recycled carbon fiber reduces by 10% to 20% while processing, it still holds high-performance properties similar to virgin carbon fiber.
Automotive & transportation is the fastest-growing end-use industry of recycled carbon fiber in terms of value.
The automotive & transportation end-use industry dominated the global recycled carbon fiber market. Owing to the superior properties, such as high strength-to-weight ratio, flexural strength, tensile strength, and cost-effectiveness, recycled carbon fiber is used in the automotive & transportation industry. It is used in chassis panels, floors, roof panels, spare wheel wells, boot or bonnet inners, and other automotive parts. It is also used in floors, roof panels, walls, and more complex interior or exterior components of trains.
Chopped recycled carbon fiber is the faster-growing segment of the market in terms of value.
The chopped recycled carbon fiber segment dominated the market in terms of value in 2019. Chopped recycled carbon fiber offers high-performance properties. It has high strength and modulus, low density, dimensional stability, and low thermal expansion. It also offers cost-saving benefits.
Aerospace scrap is the fastest-growing source of recycled carbon fiber in terms of value.
Aerospace scrap is the major source of recycled carbon fiber. The aerospace industry consumes a large amount of virgin carbon fiber in manufacturing various composite parts. Aircraft manufacturers have taken several initiatives to strengthen the standards for environment-friendly management in the discarding of end-of-life aircraft parts. For instance, Boeing has made an agreement with ELG Carbon Fibre to supply its composite scrap to the company. They are encouraging the recycling of composite components and re-use of fibers obtained from recycled composite scrap for manufacturing aerospace composite parts.
Europe is the fastest-growing recycled carbon fiber market.
Europe is projected to register the highest CAGR in terms of value in the global recycled carbon fiber market during the forecast period. The region has the presence of prominent recycled carbon fiber manufacturers, such as ELG Carbon Fibre Ltd. (UK), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), and SGL Carbon (Germany). The growth of the market in this region is supported by the advancement of composite technology solutions and penetration of composites in aerospace & defense, pipe & tank, construction & infrastructure, automotive & transportation, and wind energy industries. The governments of many countries in the region are focusing on the use of environment-friendly products. This is further supporting the growth of the recycled carbon fiber market in Europe.
Market Dynamics
Drivers
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Increasing Demand for High-Performance and Cost-Efficient Carbon Fiber From the Composite Industry
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Environmental Safeguarding By Waste Reduction
Restraints
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Lack of Technical Knowledge
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Competition With Low-Cost Matured Products
Opportunities
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Growing Adoption of Environment-Friendly, Recyclable, and Lightweight Materials in the Automotive & Transportation Industry
Challenges
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Promotion of Recycled Carbon Fiber for Commercial Applications
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Lack of Composite Waste Availability
Companies Profiled
- Toray Industries, Inc.
- ELG Carbon Fibre Ltd.
- SGL Carbon
- Carbon Conversions Inc.
- Carbon Fiber Recycling, Inc.
- Shocker Composites LLC
- Procotex Corporation SA
- Alpha Recyclage Composites
- Carbon Fiber Remanufacturing
- Vartega Inc.
- CFK Valley Stade Recycling GmbH & Co Kg
- Elevated Materials
- Karborek Recycling Carbon Fibers
- Sigmatex
- Carbon Fiber Recycle Industry Co., Ltd.
- V-Carbon
- Catech H
- Hitachi Chemical Company, Ltd.
- Rymyc S.R.L.
For more information about this report visit https://www.researchandmarkets.com/r/aqu6ya
