Recycled Carbon Fiber Market Introduction:
According to the USD Analytics published latest research report, the global “Recycled Carbon Fiber Market” is expected to grow at a tremendous CAGR of 10.0% during the forecast period 2023-2030.
Recycled carbon fiber is cost-efficient when compared to virgin carbon fiber. This has enhanced its penetration in the composites sector for applications requiring high-performance materials at a cheap cost. The qualities of recycled carbon fibers are comparable to those of virgin carbon fiber in terms of stiffness, strength, tenacity, heat resistance, fatigue resistance, and corrosion resistance.
However, virgin carbon fiber is in greater demand in particular applications in the aerospace and military industries. As a result, the market’s danger of replacements is minimal. Consumers have strong negotiating leverage because consumers of recycled carbon fiber, such as OEMs and CFRP manufacturers, are unaware of the advantages of this material and are hesitant to employ it in a variety of end-use applications.
Market Drivers:
Increasing Demand for Carbon Fibers from the Composites Industry to Propel the Market Growth
Virgin carbon fiber is employed in a variety of applications because of its excellent strength-to-weight ratio and flexural and tensile strength; however, the cost of producing and processing this fiber is greater than that of other fibers, limiting its use in a variety of applications. Other fibers, such as glass and aramid, are less expensive than fresh carbon fiber. There is a growing emphasis on generating low-cost fiber composites with qualities close to virgin carbon fiber. Various OEMs use recycled carbon fiber as an efficient substitute.
The cost of recycled carbon fiber is around 40% less than that of industrial-grade virgin carbon fiber. Carbon fiber is primarily acquired for recycling from composite trash from the aerospace, automotive, and sporting goods sectors. When treated, recycled carbon fiber possesses qualities that are comparable to virgin carbon fiber with minor differences. For example, recycled carbon fiber produced by CFK Valley Stade Recycling GmbH Co. KG (Germany) has the same modulus as fresh carbon fiber but a 10-20% lower tensile strength. It is, nonetheless, less expensive than fresh carbon fiber. As a result, the recycled carbon fiber business is primarily driven by the desire for low-cost materials with high-performance features.
Market Restraints:
Use of Economic Products to Restrict the Market Growth
Glass fiber and glass fiber composites, as well as carbon fiber and carbon fiber composites, are mostly centered in China, Japan, North America, and Europe. However, in recent years, there has been a considerable movement toward developing economies, notably in Asia Pacific. Despite having better qualities than E-glass fiber and S-glass fiber, recovered carbon fiber is rarely employed commercially in many applications owing to a lack of understanding about its advantages.
Recycled carbon fiber has a lot of potential in the maritime, automotive and transportation, aerospace and military, sports goods, and wind energy sectors. However, since these sectors are less aware of the cost-effectiveness and high-performance features of recycled carbon fiber, virgin carbon fiber is in great demand. Because of end-user knowledge and manufacturers’ strong distribution networks, virgin carbon fiber is in great demand for applications in the automotive and transportation, aerospace and military, and wind energy sectors.
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Market Opportunities:
Rising Demand for Recycled Carbon from Developing Economies will Generate Attractive Market Prospects.
Historically, the recycled carbon fiber industry has been dominated by North America and Europe. However, there has lately been a considerable movement toward rising economies in the Asia Pacific. Because of the rising need for low-cost carriers, there has been an increase in demand for recycled carbon fiber from the aerospace industry in developing nations. To fulfill demand, China launched a slew of carbon fiber research and commercialization initiatives. Because of the region’s fast industrialization and developing economies, cyclic sectors such as automotive and infrastructure are likely to grow rapidly, boosting demand for recycled carbon fiber.
Recent Developments:
- 1. Carbon Conversions and Joby Aviation formed a collaboration in August 2023 to assist Joby Aviation in achieving federal aviation standards and preserving its environmentally friendly position by recycling waste fiber.
- Gen 2 Carbon Limited announced the development of a new product under the G-TEX product line in April 2022. G-TEX 60 gsm is compatible with any resin system. It is intended to benefit the automobile and transportation, aerospace, and wind energy industries.
- In March 2022, Gen 2 Carbon Limited announced a collaboration with Deakin University to encourage the growth of carbon fiber recycling in Australia.
- Procotex bought ELG UK’s short carbon fiber business in June 2021 to manufacture new and sustainable solutions.
Segmentation Analysis:
As per the research analysis, the global recycled carbon fiber market is segmented by type into milled, and chopped; by source into aerospace scrap, automotive scarp, and others; by end use industry into automotive & transportation, consumer goods, sporting goods, industrial, aerospace & defense, marine, and others.
Based on Type, Milled Recycled Carbon Fiber is Expected to Grow at a Significant Rate During the Forecast Period
Strength and electrostatic dissipation are provided by milled recycled carbon fiber. It comes in powder form and contains small strands of recycled carbon fiber. Mechanical parameters such as tensile strength and modulus are available. Milled recycled carbon fiber is also dimensionally stable and electrically conductive.
This fiber may be used with both thermoset and thermoplastic resin systems. It is used in a variety of end-use sectors, including building and infrastructure, automotive, and transportation. The length of milled recycled carbon fiber is 80-100 micrometers. Because of its short duration, it is generally offered in powder form.
Geographical Analysis:
The global recycled carbon fiber market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
Europe Recycled Carbon Fiber Market:
Europe dominated the recycled carbon fiber industry in terms of value. Leading recycled carbon fiber producers in the area include Gen 2 Carbon (UK), Procotex (Belgium), and Alpha Recyclage Composites (France). Because of the presence of big automotive OEMs and increased demand from the automotive sector, recycled carbon fiber production businesses have substantial prospects in the European market.
This fiber is utilized in the production of composite products. Advances in composite technology solutions and the penetration of composites in the aerospace & military, pipe & tank, building & infrastructure, automotive & transportation, and wind energy sectors are driving market expansion in Europe. Governments in the area are emphasizing the use of environmentally friendly goods, which is fuelling the expansion of Europe’s recycled carbon fiber market.
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Competitive Landscape:
The major companies included in the global recycled carbon fiber market are Toray Industries, Inc., Gen 2 Carbon Limited, Carbon Conversions, Inc., Carbon Fiber Recycling, Shocker Composites, LLC., Procotex, Carbon Fiber Remanufacturing, Alpha Recyclage Composites, Mitsubishi Chemical Group, and CATACK-H.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 6 months.
2) Any query regarding the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable market size projections (2023-2030).
- Identify commercial opportunities in the global recycled carbon fiber market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
- Excel data sheet with thousands of the global recycled carbon fiber market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players.
- The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages.
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