Newark, April 13, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 128.73 million in 2022 recycled carbon fiber market will reach USD 431.21 million by 2032. Growing public awareness associated with the many advantages of using recycled carbon fiber and substantial investments made by well-known market players are the key drivers expected to propel market expansion over the forecast period. In addition to helping businesses meet sustainability goals, recycling carbon fiber from used products lowers the overall costs of production and final product manufacturing. Companies are also spending money on methods and procedures to extract carbon fiber in its purest form.
Download Report Sample (230+ Pages PDF with Insights) at: https://www.thebrainyinsights.com/enquiry/sample-request/13391
Key Insight of the Recycled Carbon Fiber Market
North America is anticipated to expand at the highest CAGR of 15.73% over the projection period.
North America is expected to grow at the highest CAGR of 15.73% over the forecast period. The GDP of the United States is the highest among any country in the area. The economies of the United States and Canada rank as the fastest in the world. North America is expanding due to the rapidly growing automotive and aerospace sectors. The market is increasing due to strategic initiatives, the presence of well-known automakers, top producers of recycled carbon fiber, and technological improvements involving recycled carbon fiber products. Major businesses employ recycled carbon fiber, which is most often consumed in the United States. The usage of recycled carbon fiber in the region's automotive and aerospace end-use industries has expanded due to the rising need for lightweight materials to reduce vehicle weight.
In the recycled carbon fiber market, the milled carbon fiber segment is expected to register the highest CAGR of 14.36% over the projected period.
The milled carbon fiber segment is anticipated to grow at the highest CAGR of 14.36% in the recycled carbon fiber market. Milled carbon fibers, manufactured from recycled carbon fiber, are fibrous powders with short strand lengths (100 m). Thermoplastics like nylon and thermoset resins like epoxy, polyurethane, and polyester resin are used for cold casting and vacuum casting. Milled carbon fibers are added to both materials for injection moulding applications. These fibers improve mechanical, electrical, and electrostatic conductivity properties and dimensional stability.
In the recycled carbon fiber market, the consumer goods and electronics segment is expected to register the highest CAGR of 14.95% over the projected period.
Over the forecasted period, the consumer goods and electronics segment is anticipated to grow at the highest CAGR of 14.95% in the recycled carbon fiber market. Recycled carbon fibers add electrical conductivity and antistatic properties to polymer compositions and coatings employed in microelectronics products. Carbon fiber resin additives of 10% to 60% can help to thin out or reduce the thickness of plastic components because of their enhanced mechanical qualities. Carbon fibers' ability to carry electricity also gives plastic materials an edge regarding resistance to static loads and electromagnetic interference. Because of its performance advantages, recycled carbon fiber is increasingly used in plastic composites for electronics, such as notebook computers, LCD projectors, camera bodies, and lenses.
Browse the full report with Table of Contents and List of Figures: https://www.thebrainyinsights.com/report/recycled-carbon-fiber-market-13391
Market Dynamics
Driver: Government policies governing the usage of eco-friendly items
Developed nations like Germany, the US, and Japan are prioritizing using environmentally friendly items as an alternative to petroleum-based products. The automobile industry uses recycled carbon fiber in a variety of car types. The introduction of regulatory laws by the EU and other countries, such as the US, India, and Japan, is projected to increase the usage of recycled carbon fiber, notably in the automotive and transportation end-use industries. To improve fuel efficiency and reduce CO2 emissions, new cars need to comply with EU regulations requiring emission reduction goals.
Restraint: Lack of technological expertise
The lack of technological know-how in manufacturing recycled carbon fiber restricts the market growth. Recycling carbon fiber requires manufacturing procedures that maintain its original mechanical properties after processing. Less information is available regarding recycled carbon fiber's mechanical characteristics and processing details. The proper processing technology needs to be used to match the quality of recycled and virgin carbon fiber. Many recyclers are not technically skilled enough to standardize processes. The key obstacles are standardization of the production process, design uniformity, and maintenance.
Opportunity: Increased use of reusable and lightweight components in the automotive and transportation sectors
Due to strict government norms and regulations, there is a growing market for products manufactured from easily recyclable, environmentally friendly fiber and fiber-reinforced composites. Using sustainable items is a top priority for large economies like Germany, the US, and Japan. An EU requirement that these should be recyclable must be followed for 85% of automobile components. Recycled carbon fiber is an excellent material for many industries since it is recovered from waste and used to make new products. Because they are created from recycled carbon fiber, automotive parts are inexpensive.
Challenge: Composite waste is not readily available
From CFRP composite waste, recycled carbon fiber is produced. The primary sources of this composite scrap are the end-use industries, particularly aerospace & military and automotive & transportation. Composites can reduce corrosion and increase product longevity. There aren't enough outdated composite parts on the market to be recycled. In a brief period, larger volumes can be collected for recycling. This is one of the primary challenges manufacturers of recovered carbon fiber must overcome.
Inquiry Before Buying: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13391
Some of the major players operating in the recycled carbon fiber market are:
• Carbon Conversions Inc.
• Carbon Fiber Remanufacturing
• Procotex Corporation SA
• Shocker Composites LLC
• Vartega Inc.
• Alpha Recyclage Composites
• ELG Carbon Fiber Ltd.
• Toray Industries, Inc.
• Carbon Fiber Recycling, Inc.
• SGL Carbon
Key Segments cover in the market:
By Type:
• Milled Carbon Fiber
• Non-Woven Mats
• Chopped Carbon Fiber
By End-user Industry:
• Consumer Goods and Electronics
• Aerospace and Defense
• Wind Energy
• Automotive
• Sporting Goods
• Industrial
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Inquire for Customized Data: https://www.thebrainyinsights.com/enquiry/request-customization/13391
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
