ID: MRFR/CnM/8168-CR | October 2022 | Region: Global | 100 Pages
The Recycled Carbon Fiber Market is estimated to grow the market value at a CAGR of 12.77% for the forecast period of 2030. Further, the global market has aimed to meet USD 36,733.9 million by the end of the year 2030.
$36,733.9 million
12.77%
Asia-Pacific
2022-2030
The global recycled carbon fiber market was valued at USD 13,129.5 million in 2021 and is projected to reach USD 36,733.9 million by 2030 at a CAGR of 12.77%.
Recycled carbon fiber is sourced from waste carbon fiber generated as a result of the processing of thermoset carbon fiber-reinforced composites and various dry fiber and prepreg scrap sources. Around 30% of carbon fiber produced ends up as waste during the production of carbon fiber-based end products. Recycled carbon fibers exhibit similar properties as virgin carbon fiber, including high tensile strength, resistance to chemicals, low thermal expansion, and lightweight.
COVID-19 Impact on the Recycled carbon fiber Market:
The outbreak of COVID-19 has significantly impacted the chemicals & materials supply chains, international trade, and manufacturing operations across the world. The supply chain analysis involves an analysis of the raw materials used to produce the final product, the recycled carbon fiber manufacturers, the distribution channels, and the end users. Amidst the COVID-19 pandemic, economies across the globe are under lockdown. This has impacted the supply chains worldwide and thus severely disrupted trade and major economic activities. As a result of lockdowns across geographies, production facilities have faced major disruptions.
The COVID-19 outbreak has disrupted the supply chains worldwide and thus severely hampered trade and major economic activities. Additionally, closures of borders and export bans have led to fluctuations in raw material supplies. This has severely affected the production of recycled carbon fibers. Thus, the supply disruptions due to trade restrictions have caused a significant impact on the production of recycled carbon fibers.
Market Dynamics
Segmentation
By Type
By End-Use Industry
By Region
Regional Analysis
The global recycled carbon fiber market is studied across the five key regions, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The global recycled carbon fiber market is projected to register a significant growth rate during the review period. This growth is attributed to its growing demand in the automotive and aerospace and defense industries, owing to its superior benefits such as cost-effectiveness, energy efficiency, lightweight, and environmental sustainability. The demand for high performance and cost-efficient carbon fiber is increasing at a considerable rate in the major end-use industries, including automotive, wind energy, industrial, sporting goods, and electronics. Additionally, the growing emphasis on waste management and the hazardous impact associated with carbon-bearing waste has resulted in an increased need for recycling of carbon fiber and thus, driving the market growth.
The recycled carbon fiber market is studied for five regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions, Asia-Pacific accounted for the largest market share in 2021 and is expected to register a healthy CAGR during the review period. The growth of the regional market can be attributed to the expanding industrialization in the region, particularly in China and India. China accounted for the largest share in the Asia-Pacific recycled carbon fiber market. The market in North America accounted for the second-largest share in 2021. The European region followed the North America region with a healthy market share of in 2021.
Competitive Landscape
The competitive landscape offers an analysis of the key strategies undertaken by the companies operating in the global market. The global market for recycled carbon fiber is projected to witness healthy growth during the forecast period, owing to the rising demand for lightweight materials in the aerospace and defense and automotive industries. The high growth is also attributed to the high performance and cost-effectiveness of carbon fiber.
SGL Carbon (Germany), Sigmatex (UK), Teijin Limited (Japan), ZOLTEK Corporation (US), and ELG Carbon Fibre Ltd (UK) are the prominent players operating in the global recycled carbon fiber market. These players account for most of the global market share owing to their large production capabilities, global revenue base, wide product portfolio, and global distribution & sales network. Additionally, the aggressive adoption of various strategies such as expansions, agreements, product launches, and acquisitions are expected to help these players gain maximum revenue and long-term growth during the review period.
Report Overview:
The Recycled carbon fiber market is segmented by Type, End-Use Industry, and Region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global Recycled carbon fiber emerging and fast-growing segments, regions, and countries.
Objectives of the Study
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: USD 36,733.9 million |
CAGR | 12.77% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019-2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type and End Use |
Geographies Covered | North America ,Europe, Asia-Pacific,South America, Middle East & Africa |
Key Vendors | SGL Carbon (Germany), Sigmatex (UK), Teijin Limited (Japan), ZOLTEK Corporation (US), and ELG Carbon Fibre Ltd (UK) |
Key Market Opportunities | Rising adoption of recyclable and eco-friendly materials in diverse end-use industries |
Key Market Drivers | Increasing demand for lightweight material in automotive and aerospace and defense industries |
The global recycled carbon fiber market would register a growth of 12.77%.
Automotive industry, will play a crucial role in taking the Recycled carbon fiber market ahead.
Preference for virgin carbon fibers in high-end applications, is the key restraining factor for the global recycled carbon fiber market.