Europe Green Carbon Fiber Market

The Europe green carbon fiber market was valued at US$ 32.54 million in 2022 and is expected to reach US$ 66.8 million by 2028. It is estimated to register a CAGR of 12.7% from 2022 to 2028.

Benefits of Green Carbon Fiber in Europe Green Carbon Fiber Market

Green carbon fiber provides environmental sustainability, cost-effectiveness, energy efficiency, and lightweight benefits. Thus, green carbon fibers are tremendously used in battery boxes, lift gate systems, pressure vessels, wind turbines, aircraft, sporting goods, etc. The increased demand for lightweight materials in defense, automotive, sporting goods, and aerospace industries drives the green carbon fiber market. Furthermore, the demand for environmentally friendly, easily recyclable fiber and fiber-reinforced composite products is growing due to strict government rules and regulations. Regulations implemented nations is projected to boost the use of green carbon fiber, particularly in automotive industry. Furthermore, regulatory authorities have set stringent environmental rules to reduce carbon emissions and improve the demand for environmentally friendly and lightweight materials, which is likely to boost the demand for green carbon fiber. In addition, owing to rising pollution control regulations in developing countries, the demand for lightweight car materials is rising which assist in reduced car emission. This factor is surging the demand for green carbon fibers in the automotive industry as it is a lightweight material. Green carbon fiber is a lightweight material, it is used in aerospace industry for manufacturing side wall panels, in automotive industry for vehicle parts, in sporting goods industry for manufacturing snowboards, etc. Also, the utilization of recycled carbon fiber in vehicle parts makes them cost-effective. Therefore, the rising demand for lightweight materials in wind, automotive, aerospace, and sporting goods industry is bolstering the market growth of Europe green carbon fiber market.

Europe Green Carbon Fiber Market Overview

The automotive industry is growing significantly across various countries in Europe. According to the report by European Commission, turnover generated by the automotive industry in Europe represents 7% of the region’s total GDP. According to the 2022 report by International Energy Agency, the number of electric vehicles sold in Europe was 2.3 million in 2021 (up from 1.4 million in 2020). Many automotive manufacturers increasingly use recycled carbon fiber in various automobile models as Europe legislation sets mandatory CO2 emission reduction targets for new cars to improve fuel economy. Additionally, the European Union mandated that 85% of vehicle materials be recyclable. Thus, the growing automotive industry, along with government regulations regarding the usage of environment-friendly products, is propelling the market growth. Moreover, manufacturers are launching vehicles with recycled carbon fiber. SGL Group and BMW, Germany-based companies, have established a joint venture named SGL Automotive Carbon Fibers GmbH & Co. KG. The company utilizes recycled carbon fiber in various automotive components. It has utilized recycled carbon fiber for the roof of the i3 electric drive and i8 plug-in hybrid cars. Of the total CFRP parts used in the BMW i series, 10% are recycled carbon fiber.

Europe Green Carbon Fiber market Revenue and Forecast to 2028 (US$ Million)

Europe Green Carbon Fiber Strategic Insights

Strategic insights for the Europe Green Carbon Fiber provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Green Carbon Fiber Report Scope

Europe Green Carbon Fiber Regional Insights

The geographic scope of the Europe Green Carbon Fiber refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Green Carbon Fiber market Segmentation

The Europe green carbon fiber market is segmented on the basis of type, source, application, and country. On the basis of type, the Europe green carbon fiber market is segmented into chopped recycled carbon fiber and milled recycled carbon fiber. The milled recycled carbon fiber segment registered the largest market share in 2022.

Based on source, the Europe green carbon fiber market is further segmented into automotive scrap, aerospace scrap, and others. The automotive scrap segment registered the largest market share in 2022.

Based on application, the Europe green carbon fiber market is further segmented into aerospace, automotive, wind energy, sporting goods, and others. The wind energy segment registered the largest market share in 2022.

Based on country, the Europe green carbon fiber market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. Germany dominated the market share in 2022.

Carbon Conversions Co, Catack-H Co Ltd, Gen 2 Carbon Ltd, Innovative Recycling SA, Procotex Corp SA, SGL Carbon SE, Sigmatex (UK) Ltd., and Toray Industries Inc are the leading companies operating in the Europe green carbon fiber market.