Growing demand for eco-friendly products is expected to drive the growth of Global Recycled Carbon Fiber Market in the forecast period, 2024-2028.
According to TechSci Research report, “Recycled Carbon Fiber Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Recycled Carbon Fiber Market is projected to grow at an impressive rate through 2028. This can be attributed to the growing environmental awareness and shift towards sustainable alternatives. Additionally, growing demand from various end user industries such as automotive, aerospace, transportation, consumer goods, among others is expected to support the market growth in the coming years. Besides, increasing demand from composites industry for high performance and cost-effective carbon fibers is further expected to drive the growth of recycled carbon fiber market through 2028. Furthermore, growing focus on environmental regulations as well as the dumping duty have prompted carbon fiber manufacturers to recycle carbon fiber.
However, lack of technical knowledge related to the manufacturing of recycled carbon fiber can restrict the market growth in the coming years. Similarly, competition with low cost mature products further hampers the market growth.
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Global Recycled Carbon Fiber Market is segmented based on type, source, end user, and region. Based on type, the market can be categorized into chopped recycled carbon fiber, milled recycled carbon fiber, and others. Milled recycled carbon fiber segment is expected to hold significant market share on account of its high strength and electrostatic dissipation. Additionally, milled carbon fiber offers dimensional stability and electrical conductivity. Based on Source market can be segmented into aerospace scrap, automotive scrap, and other scraps. The aerospace scrap segment is expected to register the highest growth during the forecast period on account of initiatives taken by aerospace OEMs to recycle high grade carbon fiber-based components that are widely used in manufacturing aircraft components.
Major companies operating in Global Recycled Carbon Fiber Market are:
- Shocker Composites LLC
- Vartega Inc.
- Alpha Recyclage Composites
- Carbon Fiber Recycling, Inc.
- Carbon Fiber Remanufacturing
- ELG Carbon Fibre Ltd.
- Procotex Corporation SA
- Toray Industries, Inc.
- SGL Carbon
- Carbon Conversions Inc
Various companies operating in the market are following strategies such as mergers & acquisitions, product launches, partnerships & collaborations, increasing production capacities, among others in order to stay competitive and have an edge over other players operating in the market. For instance, in August 2022, Vartega, Inc. increased their production capacity up to 2,000 metric tons per year.
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“Europe is expected to witness significant growth in the recycled carbon fiber market on account of growing demand from various end user industries especially automotive and aerospace. Besides, the presence of key players operating in the market in European countries such as Karborek Recycling Carbon Fibers, Procotex Corporation SA, Alpha Recyclage Composites, among others is expected to create lucrative opportunities for overall market growth in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Recycled Carbon Fiber Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Chopped Recycled Carbon Fiber, Milled Recycled Carbon Fiber, Others), By Source (Aerospace Scrap, Automotive Scrap, Other Scraps), By End User (Automotive & Transportation, Consumer Goods, Sporting Goods, Industrial, Marine, Aerospace & Defence, Others), By Region, and Competition has evaluated the future growth potential of Global Recycled Carbon Fiber Market. It provides statistics & information on market size, structure, and future market growth. the report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Recycled Carbon Fiber Market.”
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