London, Dec. 27, 2022 (GLOBE NEWSWIRE) -- A new upcoming study of Fairfield Market Research would offer detailed strategic insights into the growth forecast of global recycled carbon fiber market. The report findings suggest that the market will receive strong tailwinds from the rising boom around eco-friendly/sustainable materials across industries. The desired resilient nature, and effective application potential in high/low temperature environments continue to position recycled carbon fibers as a preferred material among manufacturers of automobiles, and electrically conductive materials. While this primarily drives the growth of recycled carbon fiber market, growing adoption by the other key industries like transportation, and aerospace and defense will further strengthen the growth trajectory of recycled carbon fiber market.
With more nations showcasing preference for environment-friendly elements against the conventional petroleum products, recycled carbon fiber is likely to gain traction. Regulatory enactments regarding the fuel efficiency of automobiles, and carbon emission targets further elevate the prospects of growth for the recycled carbon fiber market. The phenomenal growth of electric vehicle industry will thus bode well for the recycled carbon fiber market, says the report.
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Insights into Segmental Analysis
While the automotive and transportation industry remains the foremost consumer segment in recycled carbon fiber market, the maximum number of recyclers also depend on the automakers, and transportation industry operators for sourcing the recyclable fiber. The report marks growing role of automotive manufacturers in emphasizing the recycling of components based on high-grade carbon fiber that are to be further used in the production of several automobile parts. Adoption across automotive and transportation industry will remain the highest as the industry prefers recycled carbon fiber over other materials for its superiority in terms of the strength-to-weight ratio, as well as cost efficiency. As more automakers realize the potential role of using recycled carbon fiber in slashing the overall vehicle production costs, demand will continue to be on an uptrend.
Insights into Regional Analysis
Europe, a prime market for electric vehicle industry, has also been a pioneering region to adopt environmentally sustainable materials across the manufacturing domain. Governments here have also been the strongest supporters, which continue to uphold the top position of Europe in global recycled carbon fiber market. Greater concentration of some of the key manufacturers of recycled carbon fiber manufacturers further adds value to Europe’s recycled carbon fiber market. The flourishing automotive and transportation industry, the dynamic strategic developments, and innovative solutions debuting in the world of composite technology are expected to collectively propel revenue generation of the recycled carbon fiber market in Europe. In addition, deepening penetration of composite materials in the various other end-use industries like military and aerospace, construction and infrastructure, and wind power is likely to account for a robust growth outlook of the region’s recycled carbon fiber market.
Key Competitors in Global Recycled Carbon Fiber Market
ELG Carbon Fiber Ltd., SGL Carbon SE, Toray Industries, Inc., Karborek Recycling Carbon Fibers, Vartega Inc., Procotex Corporation SA, Carbon Fiber Recycling, Inc., Carbon Conversions Inc., Shocker Composites LLC, Alpha Recyclage Composites, Expliseat
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Global Recycled Carbon Fiber Market is Segmented as Below:
By Type
- Chopped Recycled Carbon Fiber
- Milled Recycled Carbon Fiber
By Source
- Aerospace scrap
- Automotive scrap
- Others
By End-Use Industry
- Automotive & Transportation
- Consumer Goods
- Sporting Goods
- Industrial
- Marine
- Aerospace & Defence
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- South Korea
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Source-wise Analysis
- End-use Industry-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
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