Vancouver, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The global market for recycled carbon fiber had a total value of USD 126.0 Million in 2021, and it is anticipated to exhibit a compound annual growth rate (CAGR) of 11.7% throughout the projected timeframe, as per the latest analysis conducted by Emergen Research. A significant driving force behind the expansion of this market revenue is the growing emphasis on the advancement of alternative technologies. These technologies, exemplified by wind turbines and solar panels, harness natural resources effectively to generate power, contributing to the upward trajectory of the market.
Carbon fiber, known for its versatility, finds extensive application across various industries. The increasing demand for carbon fiber can be attributed to its capacity to serve as a substitute for well-established materials like steel, among others. Its lightweight nature coupled with its inherent strength makes it an ideal choice for the production of specialized high-performance items, including aircraft and racing cars. A noteworthy trend within industries is the continual reutilization of carbon fiber, a practice that substantially curtails operational costs. This approach aligns with the growing emphasis on minimizing the volume of materials directed to landfills, underscoring the increasing importance of recycling and reutilization processes.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1013
Enhancing market growth is significantly influenced by the increasing collaborations established with prominent participants in the industry. A noteworthy example is the partnership announced on May 3, 2022, between Cannon Ergos, a leading technology and processing equipment manufacturer under the umbrella of Cannon Group headquartered in Italy, Europe, and Boeing, a prominent entity renowned for manufacturing commercial airplanes, defense products, and space systems, with its base in Illinois, U.S. This collaboration aims to utilize recycled carbon fiber in the molding of thermoplastic composite aircraft sidewall panels.
Furthermore, the recuperation and effective reintegration of carbon fiber waste generated during production processes across various industries prove to be economically feasible. These practices align with the guidelines set forth by international regulatory bodies. For instance, Europe's Waste Framework Directive 2008/98/EC places a strong emphasis on minimizing emissions from industrial waste and reducing its disposal in landfills. This strategic approach also resonates with the objectives outlined in Europe's Circular Economy Package, which seeks to promote sustainable production methodologies.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1013
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 126.0 Million |
| CAGR (2022–2030) | 11.7% |
| Revenue Forecast to 2030 | USD 342 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Million and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Processes, type, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Toray Industries, Inc., SGL Carbon, Carbon Conversions, Shocker Composites, LLC, Procotex, Alpha Recycling Composites, Carbon Fiber Remanufacturing (CFR), Vartega Inc., ZOLTEK Corporation, CATACK-H, Elevated Materials, and Mitsubishi Chemical Corporation |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global recycled carbon fiber market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective recycled carbon fiber solutions. Some major players included in the global recycled carbon fiber market report are:
- Toray Industries, Inc.
- SGL Carbon
- Carbon Conversions
- Shocker Composites, LLC.
- Procotex
- Alpha Recycling Composites
- Carbon Fiber Remanufacturing (CFR)
- Vartega Inc.
- ZOLTEK Corporation
- CATACK-H
- Elevated Materials
- Mitsubishi Chemical Corporation
Strategic Development
- On May 10, 2022, Braskem, a leading thermoplastic resin producer based in Brazil, announced to launch sustainable 3D printing filament range for the additive manufacturing industry. The first, FL600EVA-BIO, is a bio-based filament that is intended to offer an environment-friendly alternative to traditional materials currently on the market. In addition, filament is designed to provide a combination of flexibility, ductility, and moisture resistance for direct drive 3D printing systems. FL600R, the second product in new sustainable materials line launched by Braskem is a recycled polyolefin filament designed for use in extrusion-based 3D printing systems. This filament is made from recycled bottle caps and aims to provide a more sustainable filament option without compromising printability. Finally, FL605R-CF contains 90% recycled content and is ideal for aerospace applications. These new products from Braskem will open new opportunities for consumers who seek more sustainable solutions for the future and also aid in manufacturing of new and innovative products.
- On May 4, 2022, Voith GmbH & Co. KGaA, a German-based leading designer and manufacturer of internal aerospace components, announced its plans to collaborate with V-Carbon, a Swiss-based leading technology company that provides sustainable material systems for use in end industries, to deliver and establish an industry-leading technological solution for CRFP materials used in hydrogen systems. This collaboration further allows Voith GmbH & Co. KGaA to obtain high-quality recycled carbon fiber and highly aligned materials for reuse in hydrogen tanks, as well as provide CV-Carbon with high-performance CFRP waste generated from hydrogen tank production and end-of-life tanks.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1013
Some Key Highlights From the Report
- The solvolysis segment accounted for a moderate revenue share in 2021. Solvolysis process is the next-generation carbon fiber recycling technology that offers recovery of chemical products from polymer as well as recovery of high-grade carbon fiber with minimal degradation. In addition, increasing demand from the construction industry and rising awareness among end-users regarding various benefits of utilizing processes, such as solvolysis to extract carbon fiber, are major factors driving growth of this segment. Carbon fiber materials play a critical role in the construction industry. This is primarily attributed to their exceptional physical and mechanical properties such as high compression and shear strength, flexibility, and others, therefore, they are extensively used in preventing cracks in building structures. Moreover, their enhanced capabilities to withstand extreme temperatures enable industry professionals to replace steel with carbon fiber.
- The chopped recycled carbon fiber segment accounted for a significant revenue share in 2021. Increasing demand from the automotive industry and wide availability of various grades of chopped recycled carbon fiber from prominent market participants, such as ZOLTEK Corporation, and others, play a crucial role in driving this segment’s growth. Chopped recycled carbon fiber offers various material properties such as low density, high strength, dimensional stability, and low thermal expansion. In addition, it also provides significant cost savings for manufacturers, therefore, demand for chopped recycled carbon fiber is rising during the forecast period.
- The marine segment accounted for a significant revenue share in 2021. Significant investments by prominent market participants is a major factor contributing to growth of this segment. Carbon fiber composites will make next generation of yachts, cruisers, and racing vessels lighter and stronger. In addition, tough, long-lasting carbon composite materials withstand rigors of marine environments. Moreover, carbon fiber's high specific stiffness lends itself to use in applications such as masts, hulls, and propellers resulting in improved fuel efficiency and cost-effectiveness in marine manufacturing process.
- The Europe market accounted for largest revenue share in 2021. Increasing demand from automotive and transportation industries and applications of carbon fiber materials in the wind energy industry are major factors driving market growth in this region. Carbon fiber is essential as it aids automotive manufacturers in significantly reducing overall weight of a vehicle, which enables better vehicle performance and improved fuel efficiency. Wide applicability of Carbon Fiber Reinforced Polymer (CFRP) materials in end-use industries primarily due to their high material properties and ability to reduce overall weight of a product is also contributing to market growth in this region. Recycling carbon fiber materials derived from end applications reduces environmental impact and also enables manufacturers to comply with environmental policies and regulations imposed by governments in this region. Germany accounted for largest regional share due to increasing number of construction activities and presence of leading automotive manufacturers such as BMW, and others. These automotive companies are getting into acquisitions and collaborations with prominent market participants in this region to develop and manufacture carbon composite products that precisely fit into all their vehicles.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/recycled-carbon-fiber-market
Emergen Research has segmented the global recycled carbon fiber market based on processes, type, application, and region:
- Processes Outlook (Revenue, USD Million; 2019-2030)
-
- Pyrolysis
- Solvolysis
- Others
- Type Outlook (Revenue, USD Million; 2019-2030)
-
- Chopped Recycled Carbon Fiber
- Milled Recycled Carbon Fiber
- Others
- Application Outlook (Revenue, USD Million; 2019-2030)
-
- Automotive
- Civil Engineering
- Marine
- Sporting Goods
- Pressure Vessels
- Oil & Gas
- Others
- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Electric Vehicle Battery Market Size, Share, Trends, By Battery Type (Lead-acid, Lithium-ion, Others), By Vehicle Type (Commercial, Passenger), and By Propulsion (Plug-In Hybrid, Battery), Forecasts to 2027
Agriculture Surfactants Market By Type (Non-ionic, Anionic, Cationic, Amphoteric), By Substrate (Synthetic, Bio-based), By Application (Insecticide, Herbicide, Fungicide), Forecasts to 2027
Sustainable Packaging Market Size, Share, Trends, By Materials (Plastic, Paper & Paperboard, Glass, Metal), By Packaging Type, By End Users, Forecasts to 2027
Battery Materials Market Analysis By Battery Type (Lead-Acid, Lithium-Ion, Others), By Material Type (Metal & Metal Oxide, Other Chemical Compounds), By Application (Consumer Electronics, Automotive, Grid Storage, Others), By Region, Forecasts to 2027
Lithium Ion Battery Recycling Market , By Battery Chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Titanate Oxide, and Others), By Source, By Recycling Process, By End-Use, and By Region Forecast to 2030
Air Purifier Market By Technology (HEPA, Activated Carbon, Ionic Filters, Others), By Applications (Commercial, Residential, Industrial, Others) and By Regions Forecasts to 2027
Carbon Nanotube Market Size, Share, Trends, By Product Type (Single-Walled Carbon Nanotubes, Multi-Walled Carbon Nanotubes), By Technology, By Application, and By Region Forecast to 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Recycled Carbon Fiber Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-recycled-carbon-fiber-market
