Recycled Materials for Mobility Applications Market worth $3.9 billion by 2027 | Key players Solvay (Belgium), Faurecia (France), Continental AG (Germany), Neste (Finland), Unifi, Inc. (US).

According to recent market research the "Recycled Materials for Mobility Applications Market by Material Type (Polymer Materials, Composites), Vehicle Type (Passenger Cars, Commercial Vehicles), Component, Application (OEMs, Aftermarkets), And Region - Global Forecast to 2027", is expected to grow from USD 2.5 billion in 2022 to USD 3.9 billion by 2027, at a CAGR of 8.6% during the forecasted period. The recycled materials for mobility applications market are witnessing significant growth because of the growing demand from sustainable materials for the development of automotive parts and components.

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Most of the recycled plastic polymers found in vehicles are obtained from plastic bottles and caps. Recycled polymers are witnessing a surge in demand from the automotive industry. Recycled materials are increasingly conforming to the standards of the automotive industry and have been in this industry for more than a decade. Recycled polymers are used in many applications, such as automotive fabrics, splash guards, radiator shrouds, and dashboards. Chrysler, Ford, Honda, General Motors, Nissan, and Toyota are some of the major auto manufacturers that use recycled polymers in their vehicles. Recent advancements in recycled materials and recycling technology have resulted in a rapid increase in the use of recycled polymer materials.

Recycled materials are used in OEMs and aftermarket applications of the automotive sector. The OEMs segment is the major application of recycled materials. Automotive OEMs are searching for more effective and environment-friendly materials for making automotive parts. Recycled composites and polymers materials are widely used in the automotive industry by OEMs. Some OEMs have turned to recycled plastics to create a more sustainable version of the manufacturing-grade material.

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The recycled materials for mobility applications market in Europe has been growing in recent years due to increasing concerns about sustainability and circular economy. The European Union has set ambitious targets to increase the use of recycled materials, and many countries in Europe have implemented policies and regulations to encourage recycling. The polymer recycling market is also growing in Europe, with a focus on increasing the use of recycled plastic polymers in new products. The EU has set a target of recycling 55% of all plastic by 2030, which is driving investment in new recycling technologies and infrastructure.

The major players active in the market are Toray Industries, Inc., (Japan), Solvay (Belgium), Faurecia (France), Continental AG (Germany), Neste (Finland), Unifi, Inc. (US), Celanese Corporation (US), Custom Polymers, Inc. (US), Procotex (Belgium), Carbon Fiber Recycling (US), SGL Carbon (Germany), and Wellman Advanced Materials (US).

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Toray Industries is a worldwide manufacturing, processing, and sales multinational corporation. The company specializes in industrial products which have applications in organic synthetic chemistry, polymer chemistry, and biochemistry. The company is one of the prominent producers of recycled composite materials worldwide and offers recycled carbon fibers, carbon prepregs, carbon fabrics, and molded products. It has manufacturing and research facilities in North America, Latin America, Europe, Africa, and Asia. Toray Industries operates through six business segments: fibers & textiles, performance chemicals, environment & engineering, carbon fiber composite materials, life sciences, and others. The company operates its recycled material and recycled carbon fiber businesses through its carbon fiber composite materials business segment.

Faurecia is a global supplier of automobile parts and equipment. Faurecia acquired HELLA GmbH on January 31, 2022. After the acquisition, both companies came together to form a single company named FORVIA Group. They also have become member companies of the group for close collaboration to provide technological solutions and synergized offerings. Faurecia is one of the leading global providers of recycled materials and recycled plastic matrix. Faurecia offers a diverse portfolio comprising automobile seating, automobile interior systems, cockpit electronics, and emission control technologies. It operates through four business segments, namely, Seating, Interiors, Clean Mobility, and Clarion Electronics. The clean mobility division offers recycled material solutions such as car interiors and as per the client's requirement. The company has global operations across 33 countries in the major automotive markets. It has more than 70 manufacturing facilities related to the Seating division and 13 research and development centers worldwide.

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