Market Highlights
Global Recycled Carbon Fiber Market is projected to be
valued at USD 276,021.5 Thousand by 2027, registering a CAGR
of 12.75% during the forecast period.
Extensive use of recycled carbon fiber in the automotive and
aerospace and defense industries due to its superior benefits such as cost-effectiveness,
energy-efficiency, lightweight, and environmental sustainability is a key
driver of the global market. These fibers find use in numerous automotive
applications, which include battery boxes, pressure vessels, and lift gate
systems.
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The market's growth is driven by the implementation of
various environmental regulations by regulatory agencies such as the European
Union (EU) and the US Environmental Protection Agency (EPA).
Segment Analysis
Global Recycled Carbon Fiber Market has been segmented
based on Type, End-Use Industry, and Region.
Based on type, the global Recycled Carbon Fiber Market has
been segmented into non-woven mats, milled carbon fiber, and chopped carbon
fiber. Among these, the rubber segment accounted for over 40% of the market
share in 2019; it is projected to exhibit a CAGR of 13.43%. The non-woven mats
are majorly used in composite manufacturing processes such as liquid
compression molding and sheet molding compounding. The demand for this material
is expected to increase significantly, 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
classified into automotive, electronics, oil & gas, aerospace, sporting
goods, wind energy, and others. The automotive segment is anticipated to be the
largest and fastest-growing segment with a 13.95% CAGR during the review
period. In the automotive industry, recycled carbon fiber is used in battery
boxes, compression molding processes for interior and exterior parts of
automobiles. The increasing demand for electric vehicles and autonomous
vehicles promotes the demand for lightweight materials, thereby driving the
demand for Recycled Carbon Fiber Market.
Key Players
MRFR recognizes the following companies as the Key Players
in the Global Recycled
Carbon Fiber Market — 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).
Key Findings of the Study
- Global
Recycled Carbon Fiber Market is projected to reach a value of
USD 276,021.5 thousand by 2027 with a CAGR of around 12.75%
during the forecast period of 2020–2027.
- Asia-Pacific
emerged as the leading and the fastest-growing region for this market on
account of the rapid growth of end-use industries in countries such as
India, South Korea, and others.
- Rising
adoption of recyclable and eco-friendly materials in diverse end-use
industries is a key opportunity for the players in this market
- Technological
challenges in developing the recycling process for carbon fibers remain a
major challenge for the players in this market.
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