Recycled Carbon Fiber Market worth $193 million by 2025 | Key Players include Toray Industries, ELG Carbon Fibre, SGL Carbon, Carbon Conversions, Carbon Fiber Recycling

According to recent market research "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", The global recycled carbon fiber market size is expected to grow from USD 109 million in 2020 to USD 193 million by 2025, at a CAGR of 12.0% during the forecast period. The market is growing due to the increase in the demand for cost-efficient and high-performance materials with high strength to weight ratio, good tensile strength, and electrical conductivity. Strict environmental regulations in Europe and North America are also boosting the market growth.

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Recycled carbon fiber is produced from waste CFRP composite materials. The fiber obtained from composite scrap is made to pass through a chemical process where the fiber is separated from the resin matrix system. The fiber obtained from the chemical process is termed as recycled fiber. Recycled carbon fiber is obtained in chopped and milled types. Chopped type possesses low density, low thermal expansion, good electrical conductivity, and excellent free-flowing behavior, and is non-corrosive. It can be used in low- and high-temperature applications and for making electrically conductive materials.

Recycled carbon fiber is obtained from composite scrap. The main sources of composite scraps are aerospace and automotive scraps. Other sources, such as tennis racket scarp, trek bike scrap, and manufacturing waste, are used to obtain recycled carbon fiber. The aerospace scrap segment accounted for the largest share in terms of both value and volume of the global recycled carbon fiber market in 2019. A large number of recyclers depend on aerospace scrap for obtaining fibers. Aircraft manufacturers have taken several initiatives to strengthen the standards for environment-friendly management in the discarding of end-of-life aircraft parts.

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Recycled carbon fiber is a high-performance fiber that is obtained from manufacturing waste and from scrap composite products. It 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. Recycled carbon fiber is also known as reclaimed carbon fiber, upcycled carbon fiber, or recovered carbon fiber. The global recycled carbon fiber market size is expected to grow from USD 109 million in 2020 to USD 193 million by 2025, at a CAGR of 12.0% during the forecast period.

Over the past years, companies have strengthened their position in the global recycled carbon fiber market by adopting several business strategies. From 2014 to 2019, expansion, partnership, agreement, new product launch, and joint venture were the key strategies adopted by the market players to maintain growth in the global recycled carbon fiber market. For instance, in December 2018, ELG Carbon Fibre (UK) partnered with Boeing to recycle excess aerospace-grade composite material. This composite material will be used by other companies to make electronic accessories and automotive equipment. This partnership has helped the company strengthen its position as a leading recycled carbon fiber market player.

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The major manufacturers profiled in this report include Toray Industries Inc. (Japan), ELG Carbon Fibre Ltd. (UK), SGL Carbon (Germany), Carbon Conversions Inc. (US), Carbon Fiber Recycling, Inc. (US), Shocker Composites LLC. (US), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), Carbon Fiber Remanufacturing (US), and Vartega Inc. (US), among others. ELG Carbon Fibre Ltd. (UK) runs one of the largest commercial-scale recycled carbon fiber plants. The company offers several recycled carbon fiber products, such as CARBISO C, CARBISO M, CARBISO TM, CARBISO CT+, CARBISO MF and CARBISO CT. Toray Industries Inc. (Japan) offers recycled carbon fiber products through its subsidiary, Zoltek (US).

These companies have adopted various organic and inorganic growth strategies. For instance, in December 2019, ELG Carbon Fibre Ltd. (UK), in collaboration with the University of Huddersfield’s Institute for Railway Research, developed the world’s first carbon fiber bogie (CAFIBO). This would build ELG Carbon Fibre’s position as a leading player in the recycled carbon fiber market.

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