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Recycled Carbon Fiber Market
Recycled carbon fiber market is driven by increased adoption of carbon fiber products in the automotive industry, technological advancements, and rising disposable incomes.” - Allied Market Research (AMR) WIN SIVERS DRIVE, OR, UNITED STATES, January 7, 2025 /EINPresswire / -- According to the research report, the global recycled carbon fiber market size generated $139.0 million in 2021 and is anticipated to reach $432.5 million by 2031, growing at a CAGR of 12.0% from 2022 to 2031. The growth of the global recycled carbon fiber
industry is driven by several factors including the increased adoption of carbon fiber products in the automotive industry, technological advancements, and rising disposable incomes. However, challenges such as a shortage of skilled professionals and technical knowledge hamper market growth. Governments worldwide are promoting the use of eco-friendly products across various sectors, presenting new opportunities for market expansion in the coming years.
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Key Insights from the Report:
Source Segment: In 2021, the aerospace scrap segment held the largest market share, accounting for nearly three-fifths of the global recycled carbon fiber market. This segment is expected to maintain its leadership position and exhibit the highest CAGR of 12.3% from 2022 to 2031. The segment benefits from advancements in high-tech fighter jets, facilitating easier access to used carbon fiber for recycling companies.
End Use Segment: The automotive and transportation segment dominated the market in 2021, accounting for over one-thirds of the global market share. It is projected to continue leading with the highest CAGR of 12.5% during the forecast period. The segment's growth is driven by the need for lightweight and high-strength materials in transportation equipment.
Regional Insights:
North America: Held the largest revenue share in 2021, comprising nearly two-fifths of the global market. The region's growth is supported by expanding applications of recycled carbon fiber in the building and construction sector in the U.S., and the automotive sector in Canada.
Europe: Expected to witness the fastest CAGR of 12.6% from 2022 to 2031, with Germany leading the market due to increased adoption in the automotive and transportation sectors. The region benefits from the presence of major automobile manufacturers enhancing the performance of recycled carbon fiber products.
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Leading Market Players:
The report profiles key players in the global recycled carbon fiber market, including Toray Industries, Inc., SGL Carbon, Carbon Conversions, Shocker Composites, LLC, Bcircular, Procotex, Vartega Inc, Sigmatex, Carbon Fiber Remanufacturing, and Gen 2 Carbon Limited. These players are implementing strategies such as expansions, new product launches, and partnerships to strengthen their market presence.
By Source
Wind and Turbine Scrap
Aerospace Scrap
Others
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By End Use
Automotive and Transportation
Construction
Marine
Industrial
Others
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. AMR provides global enterprises, as well as medium and small businesses, with "Market Research Reports" and "Business Intelligence Solutions" to make strategic business decisions and achieve sustainable growth.
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Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.