Europe Leads the Global Recycled Fiber Market with Green Technology and Circular Economy Focus

According to a recent study done by FMI, the recycled carbon fiber industry share is expected to reach USD 174.7 million by 2032, up from USD 49.5 million in 2021, expanding at a high CAGR of 12.3%. This study explains how recycled carbon fiber price is directly proportional to increasing concerns over climate change and awareness around the use of biodegradable products.

As the demand for pro-performance, eco-friendly, and energy-efficient products increases, the consumption of recycled carbon fiber is higher than ever. Countries like the USA, Germany, and Japan are investing more in research and development projects for recycled carbon fiber.

Factory shutdowns, closed supply chains, and brutally damaged end-use industries restrict the recycled carbon fiber market. The damage done by COVID-19 to the aerospace market has led to a steep decline in recycled carbon fiber.

Learn about the contribution of each segment of the Report. Read a Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-14354

There is not enough awareness about the use of recycled carbon fibers in manufacturing units of multiple products. The number of manufacturing skills one requires to retain the mechanical traits of virgin carbon fiber and produce recycled carbon fiber is very crucial.

European Union has allocated 85% of the materials used in manufacturing vehicles to be recyclable, as this recycled carbon fiber is the ideal material for transforming industries. This way, these industries produce eco-friendly, biodegradable, and green products.

"The major challenge with the recycled carbon fiber market is the lack of composite waste and other material availability. The ability to decrease erosion and increase the durability of products. Gaining higher volumes for the recycling processes of carbon fiber."

Key Takeaway in Recycled Carbon Fiber Market

- The increasing demand for lightweight materials to reduce the weight of the vehicle is also augmenting the demand for recycled carbon fiber applications.
- Europe holds the biggest portion of the global recycled carbon fiber market. The excessive growth in this region is attributed to the continued strategic development of the new-gen vehicle. The countries in Europe are initiating plans to transform carbon fiber waste into products.
- On the basis of type, chopped recycled carbon is in the highest demand in terms of value and volume, as it is used in multiple industrial mixing, injection modeling, and other compounding processes. Recycled Carbon Fiber Ltd and other companies like this do the work for you.

Competitive Landscape in Recycled Carbon Fiber Market

The major carbon fiber recycling companies are dominated by

Toray Industries Inc.
SGL Carbon
Gen 2 Carbon
Karborek Recycling Carbon Fibers
Carbon Conversion
Shocker Composites
Alpha Recylage Composites
Procotex Corporation SA
Vartega INC.
Carbon Fiber Recylin Inc.
Carbon Fiber Remanufacturing

These companies are adopting new organic and inorganic plans to increase their recycled carbon fiber market stronghold.

In 2021, Procotex Corporation tied up with ELG Carbon Fibre, which allows the company to produce higher amounts of carbon fiber and feedstocks.
ELG Carbon Fiber has developed the world's first carbon fiber bogie (CAFIBO) by partnering with Railway Research.

To Gain More Insights about this Research, Visit! https://www.futuremarketinsights.com/reports/recycled-carbon-fiber-market

Recycled Carbon Fiber Market by Category

By Type:

Chopped
Milled

By Source:

Wind & Turbine
Aerospace
Others

By End Use:

Automotive & Transportation
Consumer Goods
Sporting Goods
Marine
Industrial

Related Reports:

Carbon Fiber Composites Market: https://www.futuremarketinsights.com/reports/carbon-fiber-composites-market

Glass Fiber Reinforced Plastic (GFRP) Composites Market: https://www.futuremarketinsights.com/reports/global-glass-fiber-reinforced-plastic-composites-market

Activated Carbon Fiber Market: https://www.futuremarketinsights.com/reports/activated-carbon-fiber-market

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This release was published on openPR.