Recycled Carbon Fiber Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Recycled Carbon Fiber Market Insights

According to a report from Zion Market Research, the global Recycled Carbon Fiber Market was valued at USD 159.94 Million in 2023 and is projected to hit USD 437.15 Million by 2032, with a compound annual growth rate (CAGR) of 11.82% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Recycled Carbon Fiber Market industry over the next decade.

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Global Recycled Carbon Fiber Market: Overview

Recycled carbon fiber is derived from virgin carbon fibers from manufacturing industries such as automotive and aerospace which possess nearly similar mechanical properties in terms of tensile strength, flexure strength and cost effectiveness. Carbon Fiber Reinforced Polymers (CRPF) composites made from recycled carbon fiber is used in various applications such as sports and consumer goods, automotive, marine, and others, are having high demand in market hence promoting recycled carbon fiber market globally.

Global Recycled Carbon Fiber Market: Growth Factors

The influencing factors promoting recycled fiber market is minimizing usage of virgin carbon fiber which will help eco-sustainability in the manufacturing sector. Focus on using more recycled carbon fiber in automotive sector is driving the recycled carbon fiber market, government regulation for using up to 40-50%   recycled material is encouraging the recycled carbon fiber market to flourish. About 20% carbon fiber globally ends up in industrial waste which is non-degradable.

Additionally huge amount of energy and labor is needed for recycled carbon fiber manufacturing which makes recycled carbon fiber market difficult to flourish as expected. Collection methodology also makes this technique more difficult as more transportation cost is needed.

Initiatives taken by the local government for recycled carbon fiber for maximizing usage in manufacturing industry has gained importance and awareness among industries to use recycled carbon fiber, therefore increasing the demand in recycled carbon fiber market.

Global Recycled Carbon Fiber Market: Segmentation

The recycled carbon fiber market is segmented based on type, source, and end-use industry, and region.

In terms of type the recycled carbon fiber market is segmented as chopped and milled.

On basis of source it is segmented as automotive scrap, aerospace scrap, and others.

On basis of end-use industry recycled carbon fiber market is segmented as automotive & transportation, aerospace & defence, sporting and consumer goods, Marine, and others.  

Regionally, the recycled carbon fiber market is diversified into North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa.

Recycled Carbon Fiber Market: Report Scope

Global Recycled Carbon Fiber Market: Regional Analysis

Based on regions, the global recycled carbon fiber market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In terms of usage, European countries are expected to be dominating globally for recycled carbon fibers market. Since composites are extensively employed in a range of applications in industries such as aerospace & defense, automotive, and energy, the demand for recycled carbon fibers in Europe is expected to increase in the next few years. China is expected to show a lucrative growth in carbon fiber recycling industry due to world’s largest manufacturing hub.  Moreover, North America and rest of the globe shows a consistent growth in the recycled carbon fiber market.

Global Recycled Carbon Fiber Market: Competitive Players

Some of key players in recycled carbon fiber market are

• Carbon Fiber Recycle Indastry Co.Ltd. 
• 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
• Adherent Technologies Inc.
• The Japan Carbon Fiber Manufacturers Association
• ICHIMURA SANGYO CO.Ltd. 
• among others.

The global recycled carbon fiber market is segmented as follows:

By Type

• Chopped
• Milled

By Source

• Automotive scrap
• Aerospace scrap 
• Others

By End-Use Industry

• Automotive & Transportation
• Aerospace & Defense 
• Sporting & Consumer Goods
• Marine
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa