Recycled Carbon Fiber Market by Source (Aerospace Scrap, Automotive Scrap, and Others), End-Use Industry (Automotive, Aerospace & Defense, Wind Energy, Consumer Goods & Electronics, Sporting Goods, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026769 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 134.0 million mark in 2022 and is expected to hit US$ 329.0 million by 2030, recording a CAGR of approximately 12.0% during the forecast period.

Government regulations regarding the use of environment-friendly products are driving the recycled carbon fiber market

A growing number of legislations and environmental sustainability targets in the global automotive sector are anticipated to drive the global recycled carbon fiber market during the forecast period. The EU legislation has mandated that 85% portion of automotive vehicles should be made of recyclable materials. This has led to the development of recycled carbon fibers in Europe. Additionally, the waste generated from carbon fibers can be recovered and transformed into new products, making recycled carbon fiber a perfect material for many industries. Furthermore, processing recycled carbon fibers requires nearly 10% less energy than manufacturing virgin carbon fibers. This helps in the fulfillment of sustainability and legislative targets. Approximately 30% of manufactured carbon fibers end up as waste. Carbon fibers are often considered a major contributor to global environmental issues. This helps reduce carbon dioxide emissions over the lifecycle of products made of carbon fibers. As a result, the demand for carbon fibers is expected to boost across various applications, including aircraft and automobile parts, during the forecast period.

Within the report, the market is segmented into source, end-use industry, and geography. By source, the market is further segmented into aerospace scrap, automotive scrap, and others. Based on the end-use industry, the market is divided into automotive, aerospace & defense, wind energy, consumer goods & electronics, sporting goods, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Increasing demand from the composites industry for high-performance and cost-efficient carbon fibers

Recycled carbon fiber is an eco-friendly, economical alternative for virgin carbon fiber, often used in industrial and automotive applications. Recycled carbon fiber is usually sourced from various pre-preg scrap and dry fiber. Recycled carbon fibers have the same mechanical properties as virgin carbon fibers. They are ideally used to manufacture thermoplastics, non-wovens, and molding compounds.  

Increasing adoption of recyclable and lightweight materials in the automotive & transportation industry

Recycling carbon fibers offers benefits such as reducing the number of materials entering landfills and cost savings of 30% for producers compared to new carbon fibers. In automotive applications, recycled carbon fibers are used to produce floors, chassis panels, roof panels, spare wheel, boot or bonnet inners, and wells. In the railways sector, recycled carbon fibers are used to reduce the weight of other ancillary parts, increase the payload, and reduce damage caused to the infrastructure. Recycled carbon fibers are used in the railways sector to enhance efficiency and fuel economy. In addition, recycled carbon fibers are employed to produce flat panel parts, roof panels, floors, and complex interior or exterior components.

Recent strategic developments in the recycled carbon fiber market

The recycled carbon fiber market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2022, Vartega – a recycler of carbon fiber and composite material, expanded its footprint and increased production capacity 10X from a facility in Golden, CO. Vartega’s new 50,000 square-foot manufacturing facility and headquarters will be located in Building 2 of the recently completed Pecos Logistics Park in Denver, CO.
  • In February 2022, Teijin Ltd. and Japanese recycled carbon fiber manufacturer Fuji Design Corporation have formed a business alliance with Japanese recycled carbon fiber manufacturer Fuji Design Co., Ltd. Commercial construction of CFRP products made from recycled carbon fiber using a low environmental impact process.
  • In November 2021, Hexcel and Fairmat Announce Partnership to Recycle Carbon Fiber Prepreg Composites.

 

The recycled carbon fiber market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Toray Industries Inc., Carbon Fiber Recycling, Sigmatex Limited, Carbon Conversions, and Vartega Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Recycled carbon fiber -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of recycled carbon fiber
  • Research institutes, organizations, and consulting companies
  • Building and Construction Related Associations
  • Automotive Associations

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Source:
    • Aerospace Scrap
    • Automotive Scrap
    • Others
  • End-Use Industry:
    • Automotive
    • Aerospace & Defense
    • Wind Energy
    • Consumer Goods & Electronics
    • Sporting Goods
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Toray Industries Inc.
    • Carbon Fiber Recycling
    • Sigmatex Limited
    • Carbon Conversions  
    • Vartega Inc.

The List of Companies
- Toray Industries Inc.
- Carbon Fiber Recycling
- Sigmatex Limited
- Carbon Conversions
- Vartega Inc.

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