Recycled Carbon Fiber Market Outlook : Experts Forecast Unprecedented Growth & Opportunities Through 2022-2031

Allied Market Research has recently published a report titled "Recycled Carbon Fiber Market," forecasting that the global market for recycled carbon fiber will reach $432.5 million by 2031. The market, valued at $139.0 million in 2021, is expected to exhibit a remarkable CAGR of 12.0% from 2022 to 2031.

Carbon fiber recycling is reclamation of fibers from carbon fiber-reinforced composites (CFRC). Carbon fiber waste are of two types. The first type of waste is virgin carbon fiber offcuts of the product generated from dry fiber and the non-used expired material. Recycled carbon fiber is used to manufacture new, high-performance parts in various end use sectors such as building & construction, aerospace & defense, automotive & transportation, and others.

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Factors Driving Market Growth:

The surge in the number of OEMs (Original Equipment Manufacturers), technological advancements, increased disposable income, and the growing usage of carbon fiber products in the automotive sector are key factors propelling the growth of the global recycled carbon fiber market. Although the shortage of technical knowledge and skilled professionals poses some challenges, governments worldwide are actively encouraging the use of eco-friendly products across various sectors, offering significant growth opportunities for the market in the coming years.

Leading Segments:

Aerospace: The aerospace segment captured the highest market share, nearly three-fifths, in 2021 and is expected to maintain its dominance during the forecast period. With a projected CAGR of 12.3%, this segment will experience the fastest growth. The increasing adoption of carbon fiber in the manufacturing of fighter jets, driven by its high strength and lightweight properties, is boosting the availability of recycled carbon fiber from aerospace.

Automotive and Transportation: This segment generated the largest market share, over one-third, in 2021 and is anticipated to sustain its dominance throughout the forecast period with a CAGR of 12.5%. The growing demand for faster and reliable transportation modes is driving the utilization of recycled carbon fiber in various transportation equipment due to its lightweight nature, high stiffness, and other exceptional properties.

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Regional Analysis:

North America: Dominated the market in 2021, contributing nearly two-fifths of the total revenue. The region is expected to maintain its lead throughout the forecast period. The rapid growth of the building and construction industry in the U.S. and the expanding automotive sector in Canada are key factors driving market growth.

Europe: Expected to witness the fastest growth with a CAGR of 12.6% during the forecast period. Germany leads the market in the region, with significant adoption of recycled carbon fiber in the automotive and transportation sector.

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Key Market Players:

Gen 2 Carbon Limited
Carbon Fiber Remanufacturing
Sigmatex
Vartega Inc
Procotex
Bcircular
Shocker Composites, LLC
Carbon Conversions
SGL Carbon
Toray Industries, Inc.

These key players are adopting various strategies such as expansion, new product launches, and partnerships to strengthen their market position in the recycled carbon fiber industry.

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