Recycled Carbon Fiber Market 2021 | Industry Demand, Top Key Players Analysis & Forecast By 2027
Research Reports
Mar 25, 2022
Recycled Carbon Fiber Market Scope
Market Research Future (MRFR) studied the global recycled carbon fiber market 2021 for the review period till 2027. As per MRFR analysis, the market of recycled carbon fiber is expected to witness CAGR 12.75% over the analysis period to value USD 276,021.5 thousand by 2027.
Drivers and Restrains Impacting Recycle Carbon Fiber Market
The growing adoption of recycled carbon fiber curb waste production and maximize the utility of available resources in the production process of end products made of carbon fiber is expected to support the market upsurge. Recycled carbon fibers offer similar properties as virgin carbon fiber, which are high tensile strength, low thermal expansion, resistance to chemicals, and lightweight.
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The expansion of the global recycles carbon fiber market can be attributed to the increase in awarness about such benefits of recycled carbon, resulting in diverse application. The increase in the utility of lightweight recycled carbon for automotive, defense, and aerospace applications can drive the market in the near future. Recycled carbon fiber benefits also promote cost-effectiveness, energy-efficiency, and environmental sustainability advantageous that make them effective material in the fabrication of battery boxes, lift gate systems, and pressure vessels, which, in turn, can improve the momentum of the recycled carbon fiber market over the review tenure.
The surge in demand for eco-friendly and lightweight materials owing to the strict environmental regulations by regulatory agencies to reduce carbon emissions can also fuel the need for recycled carbon fibers, thus can benefit the market. In addition, the rise in emission standards in population dense regions across the globe and upscaling demand for automobile materials that are lightweight can underpin the growth of the recycled carbon fiber market.
Segmentation Assessment of Recycle Carbon Fiber Market
The segment study of the global Recycled Carbon Fiber Market is based on type and end-use industry.
The type-based segments of the global recycled carbon fiber market are chopped carbon fiber, non-woven mats, and milled carbon fiber. The segment of non-woven mats can lead the global market by earning revenue of over USD 53,473.3 thousand by in 2027. The increasing need for cost-effective alternatives over virgin carbon fiber in the manufacturing of vehicle light-weighting by OEMs in the expanding transportation and automobile sector can add to the growth of the recycled carbon fiber market in the review tenure.
The end-use industry-based segments of the global recycled carbon fiber market are oil and gas, electronics, wind energy, aerospace, and sporting goods among others. The segment of automotive is anticipated to surge at CAGR 13.95% in the review period and the automobile segment is expected to value above USD 52,596.7 thousand by 2027.
Regional Analysis of Recycle Carbon Fiber Market
The regional study of the worldwide global recycled carbon fiber market is done across Asia Pacific, North America, the Middle East Asia and Africa, Europe, and Latin America to garner insights into the market. MRFR data suggests that the market of recycled carbon in Asia Pacific can value at around USD 48,080.8 thousand by 2027 due to rapid growth of several industries and development in economic conditions across India, Malaysia, and South Korea.
Recycle Carbon Fiber Market Key Players
SGL Carbon (Germany), Teijin Limited (Japan), Sigmatex (UK), Carbon Conversions (US), ZOLTEK Corporation (US), Carbon Fiber Recycling (US), Vartega Inc (US), ELG Carbon Fibre Ltd (UK), Hadeg (Germany), CFK Valley Stade Recycling GmbH & Co. KG (Germany), PROCOTEX CORPORATION (Belgium), and Shocker composites LLC (US) are some reputed companies in the recycled carbon fiber market that are listed by MRFR in the new report.
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Companies, such as; Sigmatex, SGL Carbon, ZOLTEK Corporation, Teijin Limited, and ELG Carbon Fibre Ltd are dominant players in the market that are reputed for their high revenue generation and strong brand identity achieved through customized services over wide distribution networks, and partnerships.
The enforcement of key strategic initiatives, such as; expansion, partnerships, product launches, and agreements, by key players can add impetus to the recycled carbon fiber market in the review tenure. For instance, July 2020, a pharmaceutical, IT, and chemical service providers in Japan, announced the release of Tenax Dry Reinforcements (DR), for Airbus A320neo wing spoilers that would supply carbon fiber materials developed using a Resin Transfer Molding (RTM) process designed by Spirit AeroSystems Inc. The automated RTM solution would incorporate Tenax Braided Fibers (DRBF) and Tenax Dry Reinforcements Non-Crimp Fabrics (DRNF) to form stiffeners and skins while maintaining existing product interfaces.
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1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL RECYCLED CARBON FIBER MARKET, BY TYPE
1.1.2 GLOBAL RECYCLED CARBON FIBER MARKET, BY END-USE INDUSTRY
1.1.3 GLOBAL RECYCLED CARBON FIBER MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 INCREASING DEMAND FOR LIGHTWEIGHT MATERIAL IN AUTOMOTIVE AND AEROSPACE AND
DEFENSE INDUSTRIES
4.2.2 DEMAND FOR HIGH PERFORMANCE AND COST-EFFICIENT CARBON FIBER
4.2.3 ENVIRONMENTAL SAFEGUARDING BY WASTE REDUCTION
4.3 RESTRAINTS
4.3.1 PREFERENCE FOR VIRGIN CARBON FIBERS IN HIGH-END APPLICATIONS 31
4.4 OPPORTUNITIES
4.4.1 RISING ADOPTION OF RECYCLABLE AND ECO-FRIENDLY MATERIALS IN DIVERSE END-USE INDUSTRIES
4.5 CHALLENGE
4.5.1 TECHNOLOGICAL CHALLENGES
4.5.2 LACK OF AVAILABILITY OF COMPOSITE WASTE
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