Dublin, March 30, 2022 (GLOBE NEWSWIRE) -- The "Global Recycled Carbon Fiber Market by Type (Chopped Recycled Carbon Fiber, Milled Recycled Carbon Fiber), Source (Aerospace Scrap, Automotive Scrap), End-use Industry and Region (North America, Europe, APAC, MEA and Latin America) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global recycled carbon fiber market size is projected to grow from USD 126 million in 2021 to USD 222 million by 2026, at a CAGR of 12.0% during the forecast period.
These material features excellent properties such as high strength and modulus, low density, dimensional stability, and low thermal expansion. However, the negative impact of the COVID-19 pandemic across all the end-use industries has affected the recycle carbon fiber market adversely. The recycled carbon fiber market is growing due to the rise in the demand for cost-effective and high-performance materials, and stringent government regulations globally.
Chopped type is the fastest-growing segment in the recycle carbon fiber market in terms of both value and volume
Chopped recycled carbon fiber is suitable for various industrial mixing and compounding processes including injection molding. It possesses low density, low thermal expansion, good electrical conductivity, excellent free-flowing behavior, and is non-corrosive. It can be used in low- and high-temperature applications and for the manufacture of electrically conductive materials.
The high demand from the automotive & transportation, marine, industrial, aerospace & defense, and other end-use industries is expected to augment the demand for chopped fibers. Additionally, governments in various countries are focusing on the use of recycled material which will further lead to the demand for chopped recycled carbon fiber.
Aerospace scrap source to lead the recycle carbon fiber in terms of both value and volume
Aerospace scrap is among the most prominent sources for obtaining carbon fibers for reuse. Aerospace OEMs have taken initiatives to recycle high-grade carbon fiber-based components used in the manufacture of aircraft components. Aircraft manufacturers have taken several initiatives to strengthen the standards for environment-friendly management for discarding end-of-life aircraft. For instance, Boeing entered into an agreement with ELG Carbon Fibre to supply its composite scrap to the company. Leading manufacturers such as Toray Industries Inc. (Japan), ELG Carbon Fibre Ltd. (UK), Carbon Conversions Inc. (US), Shocker Composites LLC. (US), and Vartega Inc. (US) are sourcing fibers from aerospace scrap.
Automotive & Transportation end-use industry to be the largest in the recycle carbon fiber in terms of both value and volume
Developed countries including Germany, the US, and Japan are focusing on the use of environment-friendly products. The EU has mandated that 85% of the materials used in vehicles are required to be recyclable. As the waste generated from carbon fibers can be recovered and transformed into new products, recycled carbon fiber is an ideal material for use in a wide range of industries. The use of recycled carbon fiber in automotive parts makes them cost-effective. According to a managing director of a leading recycled carbon fiber manufacturing company, the cost of recycled carbon fiber for use in automotive components ranges between USD 20/kg to USD 27/kg.
SGL Group (Germany) and BMW (Germany) have established a joint venture named SGL Automotive Carbon Fibers GmbH & Co. KG (Germany). The company utilizes recycled carbon fiber in various automotive components. It has utilized recycled carbon fiber for the roof of the i3 electric drive and i8 plug-in hybrid cars. Of the total CFRP parts used in the BMW i series, 10% are recycled carbon fiber. The company uses a closed-loop process for recycling dry carbon fibers.
Europe is the leading recycle carbon fiber market in terms of both value and volume
Europe accounted for the major share in the recycle carbon fiber market, Europe dominated the recycled carbon fiber market in terms of value in 2020 The region has the presence of prominent recycled carbon fiber manufacturers, such as ELG Carbon Fibre Ltd. (UK), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), and SGL Carbon (Germany).
The growth of the market in this region is supported by the advancement of composite technology solutions and penetration of composites in aerospace & defense, construction & infrastructure, automotive & transportation, and wind energy industries. The governments of many countries in the region are focusing on the use of environment-friendly products. This is further supporting the growth of the recycled carbon fiber market in Europe.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Recycled Carbon Fiber Market
4.2 Recycled Carbon Fiber Market, by Type
4.3 Recycled Carbon Fiber Market, by Source
4.4 Recycled Carbon Fiber Market, by End-Use Industry
4.5 Recycled Carbon Fiber Market, by Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Regulations Regarding Use of Environment-Friendly Products
5.2.1.2 Increasing Demand from Composites Industry for High-Performance and Cost-Efficient Carbon Fibers
5.2.1.3 Safeguarding Environment Through Waste Reduction
5.2.2 Restraints
5.2.2.1 Lack of Technical Knowledge
5.2.2.2 Competition with Low-Cost Mature Products
5.2.2.3 Lower Demand, Low-Capacity Utilization, and Liquidity Crisis due to COVID-19
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Recyclable and Lightweight Materials in Automotive & Transportation Industry
5.2.3.2 Rising Demand from Emerging Markets
5.2.3.3 Increasing Use of Recycled Carbon Fiber in Growing Aerospace Industry
5.2.4 Challenges
5.2.4.1 Promotion of Recycled Carbon Fiber for Commercial Applications
5.2.4.2 Lack of Availability of Composite Waste
5.3 Industry Trends
5.4 Technology Analysis
5.4.1 Mechanical Recycling
5.4.2 Thermal Recycling
5.4.3 Chemical Recycling
5.5 Ecosystem: Recycled Carbon Fiber Market
5.6 Value Chain Analysis
5.6.1 Scrap Sourcing and Intermediate Processing
5.6.2 Distribution and Applications
5.7 Supply Chain Analysis
5.8 Impact of COVID-19
5.8.1 Impact of COVID-19 on Automotive and Transportation Industries
5.8.2 Short-Term Strategies for Managing Cost Structure and Supply Chains
5.8.3 New Opportunities
5.9 Recycled Carbon Fiber Market: Optimistic, Pessimistic, and Realistic Scenarios
5.9.1 Optimistic Scenario
5.9.2 Pessimistic Scenario
5.9.3 Realistic Scenario
5.10 Pricing Analysis
5.11 Average Selling Price
5.12 Key Markets for Import/Export
5.13 Patent Analysis
5.14 Tariff and Regulations
5.15 Case Study Analysis
5.16 Trends and Disruptions Impacting Customers
6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of Gdp
6.3 Per Capita Gdp Vs. Per Capita Demand for Recycled Carbon Fiber
6.4 Trends in Aerospace Industry
6.5 Trends in Automotive Industry
7 Recycled Carbon Fiber Market, by Type
7.1 Introduction
7.2 Chopped Recycled Carbon Fiber
7.2.1 Chopped Recycled Carbon Fiber Market Size, by Region
7.3 Milled Recycled Carbon Fiber
7.3.1 Milled Recycled Carbon Fiber Market Size, by Region
8 Recycled Carbon Fiber Market, by Source
8.1 Introduction
8.2 Aerospace Scrap
8.2.1 Aerospace Scrap-Based Recycled Carbon Fiber Market Size, by Region
8.3 Automotive Scrap
8.3.1 Automotive Scrap-Based Recycled Carbon Fiber Market Size, by Region
8.4 Others
8.4.1 Other Scrap-Based Recycled Carbon Fiber Market Size, by Region
9 Recycled Carbon Fiber Market, by End-Use Industry
9.1 Introduction
9.2 Automotive & Transportation
9.2.1 Recycled Carbon Fiber Market Size in Automotive & Transportation End-Use Industry, by Region
9.3 Consumer Goods
9.3.1 Recycled Carbon Fiber Market Size in Consumer Goods End-Use Industry, by Region
9.4 Sporting Goods
9.4.1 Recycled Carbon Fiber Market Size in Sporting Goods End-Use Industry, by Region
9.5 Industrial
9.5.1 Recycled Carbon Fiber Market Size in Industrial End-Use Industry, by Region
9.6 Aerospace & Defense
9.6.1 Recycled Carbon Fiber Market Size in Aerospace & Defense End-Use Industry, by Region
9.7 Marine
9.7.1 Recycled Carbon Fiber Market Size in Marine End-Use Industry, by Region
9.8 Others
9.8.1 Recycled Carbon Fiber Market Size in Other End-Use Industries, by Region
10 Recycled Carbon Fiber Market, by Region
11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis
11.3 Market Ranking
11.4 Market Evaluation Framework
11.5 Revenue Analysis of Top Market Players
11.6 Company Evaluation Matrix
11.6.1 Star
11.6.2 Pervasive
11.6.3 Participants
11.6.4 Emerging Leaders
11.6.5 Strength of Product Portfolio
11.6.6 Business Strategy Excellence
11.7 Small and Medium-Sized Enterprises (Sme) Evaluation Matrix
11.8 Start-Up/ Small and Medium-Sized Enterprises (Sme) Evaluation Matrix
11.8.1 Progressive Companies
11.8.2 Responsive Companies
11.8.3 Dynamic Companies
11.8.4 Starting Blocks
12 Company Profiles
12.1 Key Companies
12.1.1 Toray Industries, Inc.
12.1.2 Elg Carbon Fibre Ltd.
12.1.3 Sgl Carbon
12.1.4 Carbon Conversions Inc
12.1.5 Carbon Fiber Recycling, Inc.
12.1.6 Shocker Composites LLC
12.1.7 Procotex Corporation Sa
12.1.8 Alpha Recyclage Composites
12.1.9 Carbon Fiber Remanufacturing
12.1.10 Vartega Inc.
12.2 Other Players
12.2.1 Hadeg Recycling GmbH
12.2.2 Hexcel Corp.
12.2.3 Cfk Valley Stade Recycling GmbH & Co Kg
12.2.4 Elevated Materials
12.2.5 Karborek Recycling Carbon Fibers
12.2.6 Sigmatex (Uk) Limited
12.2.7 Carbon Fiber Recycle Industry Co., Ltd.
12.2.8 V-Carbon
12.2.9 Catech
12.2.10 Showa Denko Materials Co., Ltd.
12.2.11 Rymyc S.R.L.
12.2.12 Mitsubishi Chemical Corporation
12.2.13 Teijin Ltd.
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/17md5s
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