Recycled Carbon Fiber Market Industry Outlook, Future Trends, Insights, Quality Analysis, and Sustainable Growth Strategies for the Period of 2023-2029 | Toray Industries, Inc. (Japan), Gen 2 Carbon Limited (UK), Carbon Conversions, Inc. (US), Carbon Fibe

Recycled Carbon Fiber Market by Type (Chopped, Milled), Source ,End-use Industry (Automotive & Transportation, Consumer goods, Sporting Goods, Aerospace & Defense), & Region - Global Forecast to 2028

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The report provides a comprehensive analysis of company profiles : Toray Industries, Inc. (Japan), Gen 2 Carbon Limited (UK), Carbon Conversions, Inc. (US), Carbon Fiber Recycling (US), Shocker Composites, LLC. (US), Procotex (Belgium), Carbon Fiber Remanufacturing (US), Alpha Recyclage Composites (France), Mitsubishi Chemical Group (Japan), and CATACK-H (South Korea).

"The recycle carbon fiber market is projected to register a CAGR of 10.0% during the forecast period, in terms of volume."

The recycled carbon fiber market is estimated to grow USD 172 million in 2023 and is projected to reach USD 278 million by 2028, at a CAGR of 10.0% from 2023 to 2028.These material features excellent properties such as high strength and modulus, low density, dimensional stability, and low thermal expansion. The demand for high-performance, cost-efficient, and eco-friendly materials drives the market for recycled carbon fiber. However, a lack of technical knowledge related to the manufacturing of recycled carbon fiber is a major factor inhibiting market growth. This fiber faces tough competition from E-glass and S-glass fibers, among other low-cost mature products, further restraining market growth.

"Chopped type is the dominated segment in the recycled carbon fiber market in terms of both value and volume in 2022."

Chopped recycled carbon fiber is suitable for various compounding processes and industrial mixing such as injection molding. It exhibits good electrical conductivity, low density, less thermal expansion, no corrosiveness, and excellent free-flowing characteristics. It can be used in low- and high-temperature applications and for manufacturing electrically conductive materials. It is 3-100 millimeters long and has applications in the aerospace & defense, automotive & transportation, and wind energy end-use industries.

"Automotive source is the second highest segment in recycle carbon fiber market in terms of both value and volume."

Automotive OEMs focus on stringent laws implemented by governments worldwide, placing restrictions on waste disposal in landfills. Developed countries, including Germany, the US, and Japan, are widely using eco-friendly products. The EU has mandated that 85% of the materials used in vehicles need to be recycled. They offer their carbon fiber-based products for recycling. Recycled automotive is used in various end-use industries to manufacture low-cost and high-performance products. The reclaimed carbon fiber from automotive has properties similar to virgin carbon fiber, with the strength of the fiber reduced by small variations.

"Consumer goods end-use industry to be the second largest in the recycle carbon fiber in terms of both value and volume."

Consumer goods were the second-largest market in 2022 and are anticipated to grow significantly during the forecast period with a CAGR of 10.4% (in terms of value). Recycled carbon fiber provides electrical conductivity and antistatic characteristics to polymer compositions and coatings used in microelectronics products. Due to their improved mechanical properties, carbon fiber resin additions of 10-60% can assist in reducing the weight or thickness of plastic components. In addition, the electric conductivity of carbon fiber provides additional performance to plastic material to prevent static load and offer a shield from electromagnetic interference. Due to its performance advantages, recycled carbon fiber is more frequently used in plastic composites for electronics, including notebook PCs, LCD projectors, camera bodies, and lenses. For instance, Dell Computers buys products from Gen 2 Carbon (previously ELG Carbon Fiber) to make its laptop cases.

"North America is the second-highest dominating region in recycled carbon fiber market in terms of both value and volume."

North America is a prominent market for recycled carbon fiber due to the demand from the aerospace & defense sector. This demand from aerospace & defense, automotive & transportation, consumer goods, and other end-use industries is expected to increase due to product innovations and technological advancements. The presence of established market players such as Carbon Conversions (US), Automotive & Transportation Recycling, Inc. (US), and Shocker Composites LLC. (US), contributes to market growth. These players have undertaken numerous agreements and expansions to cater to the increasing demand for recycled carbon fiber from various end-use industries. For instance, the automotive & transportation recycling (US) has built a facility in Tazewell, Tennessee, with a capacity to recycle up to 2,000 tons of automotive & transportation per annum.

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Reasons to buy the report:

The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall recycled carbon fiber market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

Key benefits of buying the report:

The report is expected to help market leaders/new entrants in this market in the following ways:

This report segments the global recycled carbon fiber market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
The report helps stakeholders understand the pulse of the recycled carbon fiber market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion, and acquisition.

This release was published on openPR.