Covina, June 27, 2024 (GLOBE NEWSWIRE) -- According to a recent research study, the global milled (Chopped) carbon fiber market size was valued at USD 195.4 Million in 2024 and is expected to reach USD 507.1 Million by 2034, growing at a CAGR of 11.0%.
Milled Carbon Fiber Market Overview
- What is Milled (Chopped) Carbon Fibers? How Big is Milled (Chopped) Carbon Fibers Market?
Made from new or recycled carbon fibers, milled carbon fiber is a fine powder. This strange material has a lot of uses. It is an excellent reinforcement that gives plastics more strength, stiffness, and dimensional stability when added. A phone case made of milled carbon fiber will likely be more protective than one made of plastic without adding much bulk. To enhance the mechanical qualities of coatings and adhesives, milled carbon fiber can be used with polymers. For instance, in challenging circumstances, an adhesive containing milled carbon fiber will provide a stronger bond. Additionally, high-performance equipment can be perfectly protected from abrasion with a coating made of milled carbon fiber.
The market for milled carbon fiber is highly changeable. One significant one is the increasing need from sectors like aerospace (lighter planes) and automotive (cars with lower fuel consumption) for lightweight, high-performance materials. Another is the growing application of milled carbon fiber for heat dissipation and EMI shielding in electronics. Since recycled carbon fiber aligns with the growing trend toward sustainability, it's also a good choice for environmentally conscious businesses. But there are difficulties in the market. The comparatively elevated expense of milled carbon fiber in contrast to traditional fillers utilized in plastics may provide a hindrance for certain applications.
Regulations on recycled carbon fiber can also impede industry expansion, particularly in sectors like aerospace where safety is of utmost importance. As production becomes more efficient and laws change, milled carbon fiber will become increasingly valuable to companies as a material for high-performance and potentially sustainable products.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The milled carbon fiber market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Nippon Polymer Sangyo Co., Ltd.
- Toray Industries, Inc.
- Teijin Limited
- R&G Faserverbundwerkstoffe GmbH
- CLM-Pro
- Mitsubishi Chemical Group Corporation
- Hebei Yayang Spodumene Co., Ltd.
- SGL Carbon
- Daigas Group
- K. SAKAI & Co., LTD
- Nippon Graphite Fiber Co., Ltd.
- Stanford Advanced Materials
- Easy Composites Ltd
- Haufler Composites GmbH & Co. KG
- Nantong Yongtong Environmental Technology Co., Ltd.
- Tasuns Composite Technology Co., Ltd.
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Analyst View:
Carbon fibers are useful substances for improving electrical conductivity, tensile strength, and dimensional stability when combined with thermoplastics, tooling resins, casting resins, paints, adhesives, and coatings. When carbon fiber is crushed, pushed past its breaking point, or exposed to severe impacts that are far from the eye, it will break or shatter. It shatters when struck by a hammer. Additionally, it may have weak spots like holes or machining that make it brittle. Recycled carbon fiber has the potential to reshape the competitive landscape as businesses concentrate on creating sophisticated recycling systems and expanding their range of products to accommodate the various applications of recycled carbon fiber while satisfying market demand.
Market Dynamics:
Drivers:
Growing the amount of recycled carbon fiber available from sources of automobile and aerospace trash
- Merely 2,000 tons of the carbon fiber trash produced by the aircraft sector are recycled. This presents a significant chance to expand the market for milled carbon fiber by providing more recycled carbon fiber feedstock. Up to 90% of the qualities of virgin carbon fiber are retained in recycled carbon fiber, making it a sustainable and reasonably priced substitute. Growth is being driven by this, as demand for sustainable materials rises. Reusing carbon fibers has the potential to alter market dynamics and encourage product line expansion by businesses. The market size, growth rate, and competitive dynamics of recycled carbon fiber will be impacted by its greater availability, making it more cost-competitive than established goods like S- and E-glass fibers.
Growing need for materials with high performance and low weight
- Milled carbon fiber is the most widely used material because of the rapidly increasing need for lightweight, high-performance materials. Because it illustrates both mechanical strength and weight reduction, this material is used to reinforce several composite materials. Moreover, it lowers pollutants from sectors like aerospace and the automotive industry and improves fuel efficiency. The need for high-performance, lightweight materials has led to an increase in milled carbon fiber demand across multiple industries. Technological developments in manufacturing have made it possible to produce affordable, high-quality milled carbon fibers. Meanwhile, the industry is receiving a huge boost from the increasing availability of recycled automotive and aerospace parts, which offer a more affordable and environmentally friendly option than virgin carbon fibers.
Market Trends:
Growing Requirements from the Sports Goods Sector
- Milled carbon fiber is in high demand in the sports goods industry because of its special qualities, which include increased stiffness, tensile strength, and reduced weight. These qualities improve the endurance and resilience of athletes' muscles while lessening the pressure on them. Carbon fibers are used in baseball bats and bicycle frames when minimal thermal expansion and high-temperature tolerance are necessary. The growing popularity of water activities, especially in Australia, Canada, and the Maldives, is driving up demand for carbon fiber kayaks. Carbon fiber sports goods are also still being introduced to the market by companies, such as the lightweight 'Boom' tennis racket. Asia-Pacific has a significant market share in carbon fiber because of the region's growing desire for high-quality athletic gear. The market for milled carbon fiber in this industry is anticipated to continue expanding because to the growing need for high-performance, lightweight sports gear.
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Segmentation:
The milled Carbon Fiber Market is segmented based on type, application, and region.
Type Insights
- There are two types of fibers, one is virgin fiber which is made up entirely of carbon fiber, it has higher mechanical performance; but, as sustainability gains importance, its market share may decrease. Although it might provide lower-quality products. The second one is recycled fiber which is made from carbon fiber leftovers from industrial offcuts or aircraft debris, it is more economically and environmentally friendly. The quality of recovered fiber is always being improved by technological breakthroughs.
Application Insights
- The segment describes the applications of the carbon fiber. In composite materials, milled carbon fiber is frequently utilized, especially in thermosets for industrial parts and thermoplastics for consumer goods. The demand for materials with great performance yet low weight is what is driving its growth. Additionally, it improves adhesives and coatings by boosting their conductivity, wear resistance, and mechanical strength. This makes them perfect for electronics applications that need to shield against electromagnetic interference or dissipate heat efficiently.
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Milled (Chopped) Carbon Fiber Market Scope
| Report Attributes | Details |
| Market value in 2024 | USD 195.4 Million |
| Market value in 2034 | USD 507.1 Million |
| CAGR | 11.0% from 2024 – 2034 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2034 |
Recent Development:
- In January 2024, the announcement was made by Teijin Ltd. (Tokyo, Japan) regarding the launch of Tenax carbon fiber. Acrylonitrile (AN) which is sustainable is used to make Tenax carbon fiber. The AN makes use of leftovers and waste products from biomass or recycled raw materials that have been verified by ISCC Plus (International Sustainability and Carbon Certification). The mass balancing method will be used to create the certified carbon fiber at Teijin's Mishima facility in Shizuoka Prefecture, Japan. This methodology verifies the resource tracing throughout intricate value chains, e.g., when manufacturing products combine raw materials derived from biomass and petroleum.
- In July 2023, Toray Industries, Inc. declared plans to increase the capacity of two of its units to produce an average of two carbon fibers. Capital expenditures will add lines to the Gumi, Gyeongsangbuk-do, Korea, and Spartanburg, South Carolina, factories of Toray Composite Materials America, Inc. and Toray Advanced Materials Korea, Inc. The Toray Group's yearly capacity will expand by more than 20% to 35,000 metric tons starting in 2025 as a result of these enhancements.
Regional Insights
- North America: in North America the industry, milled carbon fiber is widely known for its use in sports equipment, autos, and aircraft. However, laws governing the use of recycled materials may severely restrict deeper penetration in some of those uses.
- Asia Pacific: One of the most significant factors propelling the milled carbon fiber market in Asia Pacific at an accelerated pace is the potent combination of factors. However, there is a growing demand led by China for sporting products in industries such as electronics, automotive, and electrical.
Browse Detail Report on "Milled Carbon Fiber Market Size, Share, By Type (Virgin Fiber, and Recycled Fiber), By Application (Reinforcements, and Coatings & Adhesives), By End-User (Automotive, Electrical & Electronics, Sporting Goods, Aerospace & Defense, and Others), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/milled-carbon-fiber-market-5303
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