Global Recycled Carbon Fiber Industry Estimated to Knock USD 220 Million by 2026: Facts & Factors
According to Facts and Factors Market Research, the global recycled carbon fiber market in 2019 was exceeded USD 96 Million. The market is expected to grow at a CAGR of nearly 13% and is anticipated to hit USD 220 Million by 2026.
Some carbon fibers have almost ten times more tensile strength compared to steel and are around eight times stronger than aluminum. Therefore, the demand for carbon fibers is escalating remarkably in various end-user industries such as automotive and consumer goods. The key drivers flourishing the global recycled carbon fiber market are the increasing demand for high performance & cost-effective materials along with the supportive regulations introduced by the governments worldwide.
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Top Market Players
- Carbon Fiber Recycling Inc.
- Alpha Recyclage Composites
- Toray Industries Inc.
- Carbon Conversions Inc.
- Vartega Inc.
- SGL Carbon
- Procotex Corporation SA
- ELG Carbon Fibre Ltd.
- Carbon Fiber Remanufacturing
- Shocker Composites LLC
The “chopped” segment under recycled carbon fiber type significantly drives the global market
The chopped category under the type segment of the recycled carbon fiber market holds the major revenue & value share in the global market. Owing to the high tensile strength, low density, high efficiency, low thermal expansion, and improved dimensional stability, the chopped recycled carbon fibers leads the global market at a substantial rate.
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Aerospace scrap is considered as the leading source for the global recycled carbon fiber market
Recycled carbon fiber has been extensively used in consumer goods, automotive, marine, aerospace & defense, renewable energy (wind energy), and many other sectors. The major amount of scrap fiber used for recycling comes from the aerospace sector and holds the maximum share of the global market in terms of value & volume.
The automotive & transportation industry is the leading consumer of the recycled carbon fiber market
The recycled carbon fiber is extensively used in manufacturing robust and low-density automobiles in order to improve their efficiency, as the carbon fiber is around 8–10 times tough compared to steel and aluminum. Moreover, the stringent policies introduced by the government regarding the global adoption of eco-friendly materials for manufacturing goods and to launch vehicles emitting low carbon have further enhanced the demand for the recycled carbon fiber in the automotive & transportation sector.
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This report segments the global recycled carbon fiber market as follows:
Global Recycled Carbon Fiber Market: Type Segmentation Analysis
- Milled
- Chopped
Global Recycled Carbon Fiber Market: Source Segmentation Analysis
- Automotive scrap
- Aerospace scrap
- Others
Global Recycled Carbon Fiber Market: End-Use Industry Segmentation Analysis
- Automotive & transportation
- Aerospace & defense
- Industrial
- Sporting Goods
- Consumer Goods
- Marine
- Others
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