Recycled Carbon Fiber Market Growth Drivers, Impact Analysis & Market Opportunities by 2030
Research Reports
Mar 25, 2022
Recycled Carbon Fiber Market Overview
The Recycled Carbon Fiber Market is estimated to grow the market value at a CAGR of 12.75% for 2027. Further, the global market has aimed to meet USD 276,021.5 Thousand by the end of the year 2027. The rising demand is one of the significant reasons to help expand the global market size.
Recycled carbon fiber results from various prepreg scrap and dry fiber sources and the thermoset carbon fiber-reinforced composites process. During the carbon fiber-based end products production, nearly 30% of carbon fiber produced is used as waste.
Regarding volume and value, the chopped recycled carbon fiber has dominated the recycled carbon fiber market for the year 2019.
The global market report has explained that the high-performance properties of the chopped recycled carbon fiber are increasing the demand for the recycled carbon fiber market. The chopped recycled carbon fiber offers low density, high modulus and strength, low thermal expansion, cost-saving benefits, and dimensional stability. Hence, these offerings are boosting the market demand across the world.
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Key Players
The major market players in the market are
- ZOLTEK Corporation (US),
- ELG Carbon Fibre Ltd (UK),
- Carbon Fiber Recycling (US),
- SGL Carbon (Germany),
- Sigmatex (UK),
- Teijin Limited (Japan),
- CFK Valley Stade Recycling GmbH & Co. KG (Germany),
- Carbon Conversions (US),
- Hadeg (Germany),
- PROCOTEX CORPORATION (Belgium),
- Vartega Inc (US),
- Shocker composites LLC (US).
Recycled Carbon Fiber Market Segmentation
The recycled carbon fiber market segments are as follows:
- By Type:
Based on the type segmentation, the global recycled carbon fiber market has been classified into Milled Carbon Fiber, Chopped Carbon Fiber, and Non-Woven Mats.
These types boost the recycled carbon fiber market growth due to their cost-effectiveness, environmental sustainability, lightweight, and energy efficiency.
- By End-user:
According to the end-user segment, the global recycled carbon fiber market has been classified into Aerospace and Defense, Sporting Goods, Automotive, Consumer Goods and Electronics, Industrial, Wind Energy, and Others.
Among all these end-users, the automotive and Consumer Goods and Electronics segments are predicted to increase the market growth for the global market functioning during the ongoing forecast period.
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Regional Classification
According to the demand prevalent in the regional overview, the global recycled carbon fiber market is increasing demands across various regions for its environmental sustainability, cost-effectiveness, energy efficiency, and lightweight products. Some of the top-performing regions have extensive geography and include regions like Europe, Latin America, South America, North America, Asia-Pacific, and other parts of the world.
In 2019, the Asian Pacific region was predicted to increase the higher recycled carbon fiber market share of USD 48,080.8 thousand. This is the reason behind economic conditions and rapid industrialization in growth-centric countries such as Malaysia, India, and South Korea. Further, it has been predicted that the region will play a prominent role in generating a higher recycled carbon fiber market share for the forecast period.
Recent Development
December 2021: FAIRMAT is a startup focused on developing revolutionary technology for carbon fibre recycling. Thus far, USD 9.7 million has been raised to industrialise a proprietary method that saves 4,000 tonnes of recyclable material each year and repurposes it into value-added goods. Singular led this initial round of funding with technology entrepreneurs and industry leaders who will assist FAIRMAT throughout this critical period of its development. According to FAIRMAT, the carbon fibre market alone produced 160,000 metric tonnes in 2020. Additionally, carbon fibre waste is anticipated to reach roughly 62,000 tonnes annually on a global scale.
Recently many regulatory agencies of various regions have given focused on environmental regulations. This step has been taken to reduce the carbon emission in the region. Hence, the global recycled carbon fiber market is focusing on the development of environment-friendly products and products with lightweight materials.
In December 2019, the University of Huddersfield’s Institute for Railway Research and ELG Carbon Fibre Ltd. (UK) had a collaboration work to develop the world’s first CAFIBO (carbon fiber bogie).
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Table of Content
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 17
1.1.1 GLOBAL RECYCLED CARBON FIBER MARKET, BY TYPE 18
1.1.2 GLOBAL RECYCLED CARBON FIBER MARKET, BY END-USE INDUSTRY 19
1.1.3 GLOBAL RECYCLED CARBON FIBER MARKET, BY REGION 20
2 MARKET INTRODUCTION
2.1 DEFINITION 21
2.2 SCOPE OF THE STUDY 21
2.3 MARKET STRUCTURE 21
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 22
3.2 PRIMARY RESEARCH 23
3.3 SECONDARY RESEARCH 24
3.4 MARKET SIZE ESTIMATION 25
3.5 TOP-DOWN AND BOTTOM-UP APPROACH 25
3.6 FORECAST MODEL 26
3.7 LIST OF ASSUMPTIONS 27
4 MARKET DYNAMICS
4.1 INTRODUCTION 28
4.2 DRIVERS 29
4.2.1 INCREASING DEMAND FOR LIGHTWEIGHT MATERIAL IN AUTOMOTIVE AND AEROSPACE AND
DEFENSE INDUSTRIES 29
4.2.2 DEMAND FOR HIGH PERFORMANCE AND COST-EFFICIENT CARBON FIBER 29
4.2.3 ENVIRONMENTAL SAFEGUARDING BY WASTE REDUCTION 30
4.3 RESTRAINTS 31
4.3.1 PREFERENCE FOR VIRGIN CARBON FIBERS IN HIGH-END APPLICATIONS 31
4.4 OPPORTUNITIES 31
4.4.1 RISING ADOPTION OF RECYCLABLE AND ECO-FRIENDLY MATERIALS IN DIVERSE END-USE INDUSTRIES 31
4.5 CHALLENGE 32
4.5.1 TECHNOLOGICAL CHALLENGES 32
4.5.2 LACK OF AVAILABILITY OF COMPOSITE WASTE 32
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS 33
5.1.1 RAW MATERIAL 33
5.1.2 RECYCLED CARBON FIBER MANUFACTURERS 33
5.1.3 DISTRIBUTION CHANNELS 34
5.1.4 END USERS 34
5.2 PORTER’S FIVE FORCES MODEL 35
5.2.1 THREAT OF NEW ENTRANTS 35
5.2.2 BARGAINING POWER OF SUPPLIERS 36
5.2.3 THREAT OF SUBSTITUTES 36
5.2.4 BARGAINING POWER OF BUYERS 36
5.2.5 RIVALRY 36
5.3 PRICING ANALYSIS, BY REGION, USD/KG (2020–2020) 37
5.4 IMPACT OF COVID-19 ON THE GLOBAL RECYCLED CARBON FIBER MARKET 37
5.4.1 IMPACT OF COVID-19 OUTBREAK ON THE SUPPLY CHAIN 37
5.4.1.1 RAW MATERIALS 37
5.4.1.2 RECYCLED CARBON FIBER MANUFACTURERS 37
5.4.1.3 SALES & DISTRIBUTION CHANNELS 37
5.4.1.4 END USERS 38
5.4.2 NUMBER OF COVID CASES TILL JUNE 2020 38
5.4.3 MAJOR GOVERNMENT POLICIES TO COUNTER THE IMPACT OF COVID-19 39
5.4.4 QUALITATIVE ANALYSIS ON CHANGE IN DEMAND FROM END-USE INDUSTRY 42
6 GLOBAL RECYCLED CARBON FIBER MARKET, BY TYPE
6.1 INTRODUCTION 43
6.2 NON-WOVEN MATS 45
6.3 MILLED CARBON FIBER 47
6.4 CHOPPED CARBON FIBER 49
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