Recycled Carbon Fiber Market Research Report - Global Forecast till 2027

Global Recycled Carbon Fiber Market Research Report: Information By Type (Non-Woven Mats, Milled Carbon Fiber and Chopped Carbon Fiber), End-Use Industry (Automotive, Aerospace & Defense, Wind Energy, Industrial, Consumer Goods & Electronics, Sporting Goods and Others) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/8168-CR | March 2021 | Region: Global | 177 pages

Please note that the assessment period of report has been updated from (2018-2027) to 2020-2027. Cordially fill the sample form for updated data

Market Overview


Global Recycled Carbon Fiber Market is projected to register a CAGR of 12.75% to reach USD 276,021.5 Thousand by 2027.


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.


The growth of the global market is primarily driven by the high demand for lightweight materials in the automotive and aerospace and defense industries. Recycled carbon fiber offers benefits such as cost-effectiveness, energy-efficiency, lightweight, and environmental sustainability. These fibers are used in battery boxes, pressure vessels, and lift gate systems.


The increasing demand for lightweight and environment-friendly materials due to the increasingly strict environmental regulations by the regulatory agencies such as the European Union (EU) and the US Environmental Protection Agency (EPA) to reduce carbon emissions is fueling the demand for recycled carbon fibers. Additionally, increasing emission standards in India and China has also resulted in high demand for lightweight automobile materials.


Global Recycled Carbon Fiber Market Revenue, By End-Use Industry, 2019 (USD Thousand)
Recycled Carbon Fiber Market


Sources: MRFR Analysis


Segmentation


Global Recycled Carbon Fiber Market is segmented based on Type, End-Use Industry, and Region.


Based on type, the global recycled carbon fiber market is classified into non-woven mats, milled carbon fiber, and chopped carbon fiber. Among these, the non-woven mats segment was the leading segment with a value of USD 53,473.3 thousand in 2019. This is owing to the rising need for cost-effective alternatives to virgin carbon fiber for vehicle light-weighting by OEMs in the transportation sector.


By end-use industry, the recycled carbon fiber market is divided into electronics, oil & gas, aerospace, sporting goods, wind energy, and others. The automotive segment was valued at USD 52,596.7 thousand in 2019, with the highest CAGR of 13.95%.


Global Recycled Carbon Fiber Market Share, By Region, 2019 (%)
Recycled Carbon Fiber Market


Sources: MRFR Analysis


Regional Analysis


Global Recycled Carbon Fiber Market has been studied across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest market share of over 35% in 2019, with a market value of around USD 48,080.8 thousand. The high growth in this region can be attributed to the rapid industrialization and growing economic conditions in growth-centric countries such as India, South Korea, and Malaysia. The sale of commercial vehicles in the Indian market increased by 66% from 2014 to 2018. Similarly, the sale of commercial vehicles in China increased by over 15% during the same period.


Key Players


Key Players operating in the Global Recycled Carbon Fiber Market include SGL Carbon (Germany), Sigmatex (UK), Teijin Limited (Japan), ZOLTEK Corporation (US), ELG Carbon Fibre Ltd (UK), Carbon Conversions (US), Carbon Fiber Recycling (US), CFK Valley Stade Recycling GmbH & Co. KG (Germany), Hadeg (Germany), PROCOTEX CORPORATION (Belgium), Shocker composites LLC (US), and Vartega Inc (US).


Companies such as SGL Carbon, Sigmatex, Teijin Limited, ZOLTEK Corporation, and ELG Carbon Fibre Ltd are the dominant players owing to their high revenue generation, strong brand identity, partnerships and customized services, and wide distribution networks.


Key strategic initiatives such as partnerships, agreements, expansion, and product launches were followed by the players with an aggressive approach. For instance, in July 2020, Teijin announced that it would supply its carbon fiber materials, Tenax Dry Reinforcements (DR), for the Airbus A320neo wing spoilers using a Resin Transfer Molding (RTM) process developed by Spirit AeroSystems Inc. The highly automated RTM solution incorporates Tenax Dry Reinforcements Non-Crimp Fabrics (DRNF) and Tenax Braided Fibers (DRBF) to form skins and stiffeners while maintaining existing product interfaces, allowing direct replacement of all final spoiler components.


Market Segmentation


Global Recycled Carbon Fiber Market, By Type



  • Non-Woven Mats

  • Milled Carbon Fiber

  • Chopped Carbon Fiber


Global Recycled Carbon Fiber Market, By End-Use Industry



  • Automotive

  • Consumer Goods and Electronics

  • Industrial

  • Aerospace and Defense

  • Sporting Goods

  • Wind Energy

  • Others


Global Recycled Carbon Fiber Market, By Region



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • UK

    • Russia

    • France

    • Spain

    • Italy

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • South Korea

    • Rest of Asia-Pacific



  • Latin America

    • Mexico

    • Brazil

    • Argentina

    • Rest of Latin America



  • Middle East & Africa

    • GCC

    • Turkey

    • South Africa

    • Rest of Middle East & Africa




Available Additional Customizations



  • Customer Analysis of Major Consumers

  • Additional Company Profiles


Intended Audience



  • Recycled Carbon Fiber Manufacturers

  • Suppliers and Traders of Recycled Carbon Fiber and Related Products

  • Government, Associations, and Industrial Associations

  • Investors and Trade Experts

  • Consulting in Chemical Experts



Frequently Asked Questions (FAQ) :


Global Recycled Carbon Fiber Market is projected to record a CAGR of over 12% in the future.

2020-2027 is the growth period for the Global Recycled Carbon Fiber Market.

The demand for recycled carbon is likely to increase at a significant rate owing to its superior benefits such as cost-effectiveness, energy-efficiency, lightweight, and environmental sustainability.

The Global Recycled Carbon Fiber Market is getting restraint by the factor of virgin carbon fibers in high-end applications.

ELG Carbon Fibre, CARBISO, Shocker Composites, LLC, Vartega Inc, and Teijin Limited, Tenax, are the top four key players in Global Recycled Carbon Fiber Market.