[236 Pages Report] According to FMI, the global recycled carbon fiber market is estimated to value around US$ 54.9 million in 2022, registering a Y-O-Y growth of 11.0%. Recycled carbon fiber sales are projected to increase at a healthy CAGR of 12.3% by 2032. The increasing usage and demand for recycled carbon fiber in the automotive & transportation industries is a key factor driving the global demand.
| Attribute | Details |
|---|---|
| Base Year Value (2021A) | US$ 49.5 million |
| Estimated Year Value (2022E) | US$ 54.9 million |
| Projected Year Value (2032F) | US$ 174.7 million |
| Value CAGR (2022 to 2032) | 12.3% |
| Collective Value Share: Top 3 Countries Worldwide (2022E) | 41.2% |
Europe remains a prominent market owing to significant strategies in waste management and a growing focus on a circular economy. Market participants in Europe are focusing on decreasing greenhouse gas emissions and are tilting their focus toward green technology. All these have been attributed to the dominance of Europe in the global market of recycled fiber.
According to the latest research published by Future Market Insights, global recycled carbon fiber demand is anticipated to hold ~2-5% of the market share in overall carbon fiber consumption.
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The demand for recycled carbon fiber grew at a 9.8% CAGR between 2017 and 2021. The recycled carbon fiber market is in its infancy stage and has gained traction due to the awareness of its end uses. Growing focus on environmental regulations as well as the dumping duty has prompted carbon fiber manufacturers to recycle carbon fiber.
The demand for recycled carbon fiber is expected to increase during the assessment period and is further expected to witness a significant growth rate of 12.3% in the same period. The use of recycled carbon fiber in automotive and transportation, sporting goods, industrial applications, and increased regulation towards the environment, prompting the circular economy, is expected to uplift the consumption of recycled carbon fiber.
The market for recycled carbon fiber is notably being driven by the automotive and transportation sectors. The use of recycled carbon fiber helps address the issue of reducing the overall vehicle weight. Vehicles that are more fuel-efficient have been made possible by recycled carbon fiber. Manufacturers use recycled carbon fiber because of its great properties to reduce component downtime and extend the life of their products.
Numerous cars and trucks, some of which are manufactured from recycled carbon fiber, have been released by major manufacturers. The BMW Company uses recycled carbon fiber in vehicle parts like the roof. Additionally, composite floor panels, composite tailgates, and composite front benders all make use of recycled carbon fiber. Recycled carbon fiber is being used as a result of a demand for lighter vehicles.
According to FMI, the automotive & transportation segment is expected to grow at a robust CAGR of 12.7% during the forecast period.
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According to EU law, the automotive industry should recycle 85% of its waste generation. Recovery of CF trash and the creation of new goods using less energy than 10% of that required to create the CF initially can help meet legislative and sustainability goals. Recycled Carbon Fiber aids in lowering greenhouse emissions by using less fuel because it is used to make lighter automotive bodywork.
With the awareness of a sustainable environment and increasing landfilling costs, many end users are consuming recycled carbon fiber due to its high value and low cost. Several manufacturers are offering recycled carbon fiber, which can be reintroduced in the process. Meanwhile, a collaboration between manufacturers and researchers has aided in the recovery and reuse of carbon fibers, reintroducing them into the circular economy.
The major objective of the cost proposal is to reduce the cost of lightweight carbon fiber composites by 50%. As compared to virgin industrial fiber, the cost of the fiber is typically 30 to 40% less expensive. In light of this, recycled fiber can provide weight-saving benefits comparable to those of virgin fiber at a significantly reduced cost, making it suitable for sporting goods. Carbon fiber from recycled sources is replacing old hardwood sporting equipment.
The Carbon Fiber Circular Demonstration Project was initiated, focusing on recycling carbon fiber from the sports equipment industry. Fibers from worn-out or damaged carbon fiber components used in sporting goods are recovered and realigned into prepreg tapes. The tapes will be returned to the alliance's producers, who will use the material in brand-new sporting products. According to preliminary demonstration data, the new carbon fiber tape occasionally performs better than the original virgin fiber.
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Aviation scrap generation could be a substantial source of recyclable materials. An emerging trend in aviation is the use of thermoplastic composites, which can allow for recycling and the use of used carbon fiber. Given that numerous thermoplastic composite materials are already employed in the manufacture of airplanes, the required technology and equipment are easily accessible. In contrast, it is anticipated that between 6000 and 8000 commercial airplanes will reach the end of their useful lives by 2030.
At that time, they will be disassembled and their high-grade carbon fiber components can be recycled. A number of initiatives have shown that it is possible to make high-quality thermoplastic composites using recycled carbon fiber in a way that is both practical and affordable for the environment.
In a project to look at costs over the course of the material's whole life cycle, the Dutch companies Fokker, Toray, and others with knowledge of design, processing, and recycling took part. It was discovered that using recycled carbon fiber is financially advantageous. Numerous projects are currently underway to investigate the use of recycled carbon fiber in the aviation industry and are expected to open up new prospects for use.
The growth of the recycled carbon fiber market is being restricted by a lack of technical expertise. Many carbon fiber consumers believe that recycled carbon fiber falls short of virgin carbon fiber in quality. Recycled carbon fiber's mechanical characteristics and processing attributes are not well understood.
The proper processing technology must be used for the recycled carbon fiber to be of the same quality as virgin carbon fiber. Many recyclers lack a thorough technical understanding of process standardization.
The USA is expected to remain one of the leading markets in North America for Recycled Carbon Fiber. The USA market is expected to reach about US$ 43.0 million by the end of the forecast period and has a percentage share of 88.3% for the Recycled Carbon Fiber market in North America.
The increasing number of new entrants in the country such as Vartega, Mallinda, and others are promoting the usage and technical advantages of recycled carbon fiber. Over the forecast period, rising trends to minimize carbon emissions and increasing use of recycled carbon fiber in the automotive industry are anticipated to propel recycled carbon fiber market expansion.
In an effort to reach its 2030 carbon emissions peak and achieve carbon neutrality by 2060, China seeks to recycle 25% of its textile waste and produce 2 million tonnes of recycled fiber by 2025, according to a document jointly released by the National Development and Reform Commission (NDRC). The country is supporting low-carbon, environmentally friendly textile production; expanding China's recycling infrastructure; and maximizing the use of textile waste. By 2030, it is also anticipated that manufacturers and consumers will have a much-increased understanding of the value of recycling.
The recycled carbon fiber market in China is expected to create a dollar opportunity of US$ 11.8 million during the forecast period. The increased consumption of Recycled Carbon Fiber is backed by the automotive industry as it is used to effectively reduce vehicle weight.
On the basis of type, the market is divided into chopped and milled recycled carbon fiber. In these, chopped recycled carbon fibers are the dominating segment owing to their increased consumption in end-use industries. It is most frequently utilized in injection molding compounding and thermoplastic compounding procedures for products ranging from athletic goods to automobiles and electronics.
This segment is anticipated to witness significant growth in both volume and value. Among the product type, the share of chopped Recycled Carbon Fiber is estimated to stand at more than two third in 2022 by value. The aqueous product form of Recycled Carbon Fiber is estimated to grow at 12.4% CAGR during the forecast period.
The automotive and transportation end-use industries are the largest industries, followed by industrial. One of the main factors propelling the global expansion of the recycled carbon fiber market is the rising use and demand for recycled carbon fiber in the automotive and transportation industries. The challenge of decreasing the overall vehicle weight is addressed through the use of recycled carbon fiber.
Recycled carbon fiber is used by manufacturers because of its excellent capabilities to decrease component downtime and increase product lifespan. The automotive & transportation segment of Recycled Carbon Fiber is expected to create an incremental dollar opportunity of US$ 49.7 million during the forecast period.
On the basis of the region, Europe & North America are dominating the recycled carbon fiber market owing to the presence of a large number of carbon fiber recyclers in this region. Europe is expected to maintain its dominancy as EU law mandated that 85% of automobiles be recyclable in the automotive sector.
In order to maintain competition and fortify their positions on the global stage, key players are focusing more on collaborations, expansion, and expanding their production capacities in order to stay competitive and strengthen their global positions. Key market players are also launching new products in order to compete with other market players. For Instance
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, and South Africa. |
| Key Segments Covered | Product Type, Source Type, Application, & Region. |
| Key Companies Profiled | Toray Industries Inc.; SGL Carbon; Gen 2 Carbon; Karborek Recycling Carbon Fibers; Carbon Conversion; Shocker Composites; Alpha Recylage Composites; Procotex Corporation SA; Vartega INC.; Carbon Fiber Recylin Inc.; Carbon Fiber Remanufacturing |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The recycled carbon fiber market is anticipated to reach a valuation of US$ 54.9 Mn in 2022.
Demand for recycled carbon fiber is anticipated to witness a growth rate of 12.3% over the forecast period of 2022 and 2032 in terms of value.
Vartega, Bcircular, Mallinda, and others are some of the prominent Recycled Carbon Fiber Startups.
Toray Industries Inc., Carbon Conversions Inc., SMC Global PLC, Alpha Recyclage Composites, and others are the leading players in the market.
The automotive & transportation end-use industry is the largest industry followed by industrial. Growing consumption of Recycled Carbon Fiber in end-use industries is bolstering the market growth.
1. Executive Summary | Recycled Carbon Fiber Market 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product innovation & Diversification 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 5.1. Historical Market Volume (Tons) Analysis, 2017 to 2021 5.2. Current and Future Market Volume (Tons) Projections, 2022 to 2032 5.3. Y-o-Y Growth Trend Analysis 6. Global Market - Pricing Analysis 6.1. Regional Pricing Analysis by Product Type 6.2. Pricing Analysis by Regions 7. Global Market Demand (in Value or Size in US$ million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 7.1. Historical Market Value (US$ million) Analysis, 2017 to 2021 7.2. Current and Future Market Value (US$ million) Projections, 2022 to 2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.1.1. Global Economic Outlook 8.1.2. Global Caron Fiber Market Overview 8.1.3. Global Automotive Production Overview 8.1.4. Global Fiber Production Overview 8.1.5. Global Aviation Industry Outlook 8.1.6. Global Textile Production Outlook 8.1.7. Global Chemical Industry Outlook 8.1.8. Industry Value Added By Key Countries 8.2. Forecast Factors - Relevance & Impact 8.2.1. Top Companies Historical Growth 8.2.2. Low Carbon Footprint 8.2.3. Demand From Automotive Industry 8.2.4. Launching of New Product Variants 8.2.5. Environment and Safety Regulations 8.2.6. Impact Of Pricing On The Market 8.2.7. Investment In Research And Development 8.3. Supply-Demand Analysis 8.4. Value Chain Analysis 8.4.1. List of Manufacturers 8.4.2. List of Distributors 8.5. Market Dynamics 8.5.1. Drive 8.5.2. Restraint 8.5.3. Opportunities 8.6. Impact of COVID-19 Crisis 8.7. Key Regulations & Certifications 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ million) and Volume Analysis By Product Type, 2017 to 2021 9.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By Product Type, 2022 to 2032 9.3.1. Chopped 9.3.2. Milled 9.4. Market Attractiveness Analyses, By Product Type 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Source 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ million) and Volume Analysis By Source, 2017 to 2021 10.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By Source, 2022 to 2032 10.3.1. Wind & Turbine Scrap 10.3.2. Aerospace Scrap 10.3.3. Others 10.4. Market Attractiveness Analysis By Source 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ million) and Volume Analysis By End-Use, 2017 to 2021 11.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By End-Use, 2022 to 2032 11.3.1. Automotive & Transportation 11.3.2. Consumer Goods 11.3.3. Sporting Goods 11.3.4. Marine 11.3.5. Industrial 11.4. Market Attractiveness Analysis By End-Use 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 12.1. Introduction 12.2. Historical Market Size (US$ million) and Volume Analysis By Region, 2017 to 2021 12.3. Current Market Size (US$ million) and Volume Analysis and Forecast By Region, 2022 to 2032 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. East Asia 12.3.5. South Asia & Pacific 12.3.6. Middle East & Africa 12.4. Market Attractiveness Analysis By Region 13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 13.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032 13.4.1. By Product Type 13.4.2. By Source 13.4.3. By End-Use 13.4.4. By Country 13.4.4.1. The USA 13.4.4.2. Canada 13.5. Market Attractiveness Analysis 13.5.1. By Product Type 13.5.2. By Source 13.5.3. By End-Use 13.5.4. By Country 13.6. Market Trends 13.7. Drivers and Restraints Impact Analysis 14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 14.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032 14.4.1. By Product Type 14.4.2. By Source 14.4.3. By End-Use 14.4.4. By Country 14.4.4.1. Brazil 14.4.4.2. Mexico 14.4.4.3. Rest of Latin America 14.5. Market Attractiveness Analysis 14.5.1. By Product Type 14.5.2. By Source 14.5.3. By End-Use 14.5.4. By Country 14.6. Market Trends 14.7. Drivers and Restraints Impact Analysis 15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 15.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032 15.4.1. By Product Type 15.4.2. By Source 15.4.3. By End-Use 15.4.4. By Country 15.4.4.1. Germany 15.4.4.2. Italy 15.4.4.3. France 15.4.4.4. The United Kingdom 15.4.4.5. Spain 15.4.4.6. BENELUX 15.4.4.7. Russia 15.4.4.8. Rest of Europe 15.5. Market Attractiveness Analysis 15.5.1. By Product Type 15.5.2. By Source 15.5.3. By End-Use 15.5.4. By Country 15.6. Market Trends 15.7. Drivers and Restraints Impact Analysis 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 16.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032 16.4.1. By Product Type 16.4.2. By Source 16.4.3. By End-Use 16.4.4. By Country 16.4.4.1. China 16.4.4.2. Japan 16.4.4.3. South Korea 16.5. Market Attractiveness Analysis 16.5.1. By Product Type 16.5.2. By Source 16.5.3. By End-Use 16.5.4. By Country 16.6. Market Trends 16.7. Drivers and Restraints Impact Analysis 17. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 17.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032 17.4.1. By Product Type 17.4.2. By Source 17.4.3. By End-Use 17.4.4. By Country 17.4.4.1. India 17.4.4.2. ASEAN 17.4.4.3. ANZ 17.4.4.4. Rest of South Asia & Pacific 17.5. Market Attractiveness Analysis 17.5.1. By Product Type 17.5.2. By Source 17.5.3. By End-Use 17.5.4. By Country 17.6. Market Trends 17.7. Drivers and Restraints Impact Analysis 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 18.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032 18.4.1. By Product Type 18.4.2. By Source 18.4.3. By End-Use 18.4.4. By Country 18.4.4.1. GCC Countries 18.4.4.2. Turkey 18.4.4.3. Northern Africa 18.4.4.4. South Africa 18.4.4.5. Rest of Middle East and Africa 18.5. Market Attractiveness Analysis 18.5.1. By Product Type 18.5.2. By Source 18.5.3. By End-Use 18.5.4. By Country 18.6. Market Trends 18.7. Drivers and Restraints Impact Analysis 19. Country-Wise Market Analysis 19.1. The USA Market Analysis 19.1.1. By Product Type 19.1.2. By Source 19.1.3. By End-Use 19.2. Canada Market Analysis 19.2.1. By Product Type 19.2.2. By Source 19.2.3. By End-Use 19.3. Mexico Market Analysis 19.3.1. By Product Type 19.3.2. By Source 19.3.3. By End-Use 19.4. Brazil Market Analysis 19.4.1. By Product Type 19.4.2. By Source 19.4.3. By End-Use 19.5. Germany Market Analysis 19.5.1. By Product Type 19.5.2. By Source 19.5.3. By End-Use 19.6. Italy Market Analysis 19.6.1. By Product Type 19.6.2. By Source 19.6.3. By End-Use 19.7. France Market Analysis 19.7.1. By Product Type 19.7.2. By Source 19.7.3. By End-Use 19.8. The United Kingdom Market Analysis 19.8.1. By Product Type 19.8.2. By Source 19.8.3. By End-Use 19.9. Spain Market Analysis 19.9.1. By Product Type 19.9.2. By Source 19.9.3. By End-Use 19.10. Russia Market Analysis 19.10.1. By Product Type 19.10.2. By Source 19.10.3. By End-Use 19.11. BENELUX Market Analysis 19.11.1. By Product Type 19.11.2. By Source 19.11.3. By End-Use 19.12. China Market Analysis 19.12.1. By Product Type 19.12.2. By Source 19.12.3. By End-Use 19.13. Japan Market Analysis 19.13.1. By Product Type 19.13.2. By Source 19.13.3. By End-Use 19.14. S. Korea Market Analysis 19.14.1. By Product Type 19.14.2. By Source 19.14.3. By End-Use 19.15. India Market Analysis 19.15.1. By Product Type 19.15.2. By Source 19.15.3. By End-Use 19.16. ASEAN Market Analysis 19.16.1. By Product Type 19.16.2. By Source 19.16.3. By End-Use 19.17. GCC Countries Market Analysis 19.17.1. By Product Type 19.17.2. By Source 19.17.3. By End-Use 19.18. Turkey Market Analysis 19.18.1. By Product Type 19.18.2. By Source 19.18.3. By End-Use 19.19. South Africa Market Analysis 19.19.1. By Product Type 19.19.2. By Source 19.19.3. By End-Use 20. Market Structure Analysis 20.1. Market Analysis by Tier of Companies [Recycled Carbon Fiber] 20.2. Market Concentration 20.3. Market Share Analysis of Top Players 20.4. Apparent Production Capacity of Top Players 20.5. Market Presence Analysis 20.5.1. By Regional Presence 20.5.2. By Product Footprint 21. Competition Analysis 21.1. Competition Dashboard 21.2. Primary Survey Analysis 21.3. Competition Deep Dive 21.3.1. Toray Industries Inc. 21.3.1.1. Overview 21.3.1.2. Product Portfolio 21.3.1.3. Key Financials 21.3.1.4. Sales Footprint 21.3.1.5. Strategy Overview 21.3.2. SGL Carbon 21.3.2.1. Overview 21.3.2.2. Product Portfolio 21.3.2.3. Key Financials 21.3.2.4. Sales Footprint 21.3.2.5. Strategy Overview 21.3.3. Gen 2 Carbon 21.3.3.1. Overview 21.3.3.2. Product Portfolio 21.3.3.3. Key Financials 21.3.3.4. Sales Footprint 21.3.3.5. Strategy Overview 21.3.4. Karborek Recycling Carbon Fibers 21.3.4.1. Overview 21.3.4.2. Product Portfolio 21.3.4.3. Key Financials 21.3.4.4. Sales Footprint 21.3.4.5. Strategy Overview 21.3.5. Carbon Conversion 21.3.5.1. Overview 21.3.5.2. Product Portfolio 21.3.5.3. Key Financials 21.3.5.4. Sales Footprint 21.3.5.5. Strategy Overview 21.3.6. Shocker Composites 21.3.6.1. Overview 21.3.6.2. Product Portfolio 21.3.6.3. Key Financials 21.3.6.4. Sales Footprint 21.3.6.5. Strategy Overview 21.3.7. Alpha Recylage Composites 21.3.7.1. Overview 21.3.7.2. Product Portfolio 21.3.7.3. Key Financials 21.3.7.4. Sales Footprint 21.3.7.5. Strategy Overview 21.3.8. Procotex Corporation SA 21.3.8.1. Overview 21.3.8.2. Product Portfolio 21.3.8.3. Key Financials 21.3.8.4. Sales Footprint 21.3.8.5. Strategy Overview 21.3.9. Vartega INC. 21.3.9.1. Overview 21.3.9.2. Product Portfolio 21.3.9.3. Key Financials 21.3.9.4. Sales Footprint 21.3.9.5. Strategy Overview 21.3.10. Carbon Fiber Recylin Inc. 21.3.10.1. Overview 21.3.10.2. Product Portfolio 21.3.10.3. Key Financials 21.3.10.4. Sales Footprint 21.3.10.5. Strategy Overview 21.3.11. Carbon Fiber Remanufacturing 21.3.11.1. Overview 21.3.11.2. Product Portfolio 21.3.11.3. Key Financials 21.3.11.4. Sales Footprint 21.3.11.5. Strategy Overview 22. Assumptions and Acronyms Used 23. Primary Survey Analysis 24. Research Methodology
Chemicals & Materials
February 2023
REP-GB-167
325 pages
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Recycled Carbon Fiber Market
