Press release
Recycled Carbon Fiber Market Size is Expected to Grow Exponentially Over USD 320.60 Million by 2029, Trends, Segments, Growth Strategies and Forecast
Recycled Carbon Fiber Market Overview:The global recycled carbon fiber market is primarily driven by the growing need for lightweight materials in the defense, automotive, and aerospace industries. Recycled carbon fibers are widely used in lift gate systems, battery boxes, and pressure tanks. Furthermore, recycled carbon fiber offers environmental sustainability, cost-effectiveness, energy efficiency, and lightweight advantages, all of which are expected to boost the global market's growth.
The global recycled carbon fiber market size is projected to grow from USD 113.77 Million in 2020 to USD 320.60 Million by 2029, at a CAGR of 12.2%.
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Recycled carbon fiber is an eco-friendly, economical substitute for virgin carbon fiber, which is often used in automotive and industrial applications. Recycled carbon fiber is commonly sourced from various dry fiber. Recycled carbon fibers possess the same mechanical properties as those of virgin carbon fibers. They are ideally used in the manufacture of thermoplastics, non-wovens, and molding compounds.
Recycled Carbon Fiber Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Toray Industries Inc., ELG Carbon Fibre Ltd., SGL Carbon, Karborek Recycling Carbon Fibers, Procotex Corporation SA, Alpha Recyclage Composites, Vartega Inc., Carbon Fiber Remanufacturing, Shocker Composites LLC., Hadeg Recycling GmbH, Hexcel Corp., Sigma and Others
Recent Development
On April 29, 2022, Hexcel Corporation, a global leader in advanced composites technology headquartered in Connecticut, U.S., announced showcasing its product range for aerospace and urban air mobility applications at the JEC World 2022 in Paris. These products have been specifically designed to meet the increasing demand for high-quality materials and parts and also minimize costs associated with their production and maintenance. Hexcel HiTape dry UD tapes and HiMax carbon fiber reinforcements, for instance, have been developed to meet the aerospace Original Equipment Manufacturer (OEM) cycle time and reduce costs associated with production. This also enables opportunities for future aircraft programs. In addition, Hexcel's new high modulus HM54 and HM63 fibers provide the ultimate stiffness-to-weight properties.
On May 4, 2022, Voith GmbH & Co. KGaA, a German-based leading designer and manufacturer of internal aerospace components, announced plans to collaborate with V-Carbon, a Swiss-based leading technology company that provides sustainable material systems for use in the end industries, to deliver and establish an industry-leading technological solution for CRFP materials used in hydrogen systems. The collaboration further allows Voith GmbH & Co. KGaA to obtain high-quality recycled carbon fiber and highly aligned materials for reuse in hydrogen tanks, as well as provide CV-Carbon with high-performance CFRP waste generated from hydrogen tank production and end-of-life tanks.
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Recycled Carbon Fiber Market Segmentation:
Global Recycled Carbon Fiber Market by Product Type, 2020-2029, (USD Million) (Kilotons)
Semi-Continuous
Chopped Recycled Carbon Fiber
Milled Recycled Carbon Fiber
Global Recycled Carbon Fiber Market by Source, 2020-2029, (USD Million), (Kilotons)
Aerospace
Automotive
Others
Global Recycled Carbon Fiber Market by End-User, 2020-2029, (USD Million) (Kilotons)
Automotive & Transportation
Consumer Goods
Sporting Goods
Industrial
Marine
Aerospace & Defense
Others
Growth Factors:
Increasing demand from the Recycled Carbon Fiber industries
The growing use of Recycled Carbon Fiber in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Recycled Carbon Fiber Market
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Recycled Carbon Fiber Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Recycled Carbon Fiber Market Trends
- The report identifies, determines, and forecasts the Global Recycled Carbon Fiber Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Recycled Carbon Fiber Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Recycled Carbon Fiber Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Recycled Carbon Fiber Market.
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