Recycled Carbon Fiber Market To Reach $398.2 Million By 2030

Recycled Carbon Fiber Market Growth & Trends

The global recycled carbon fiber market size is expected to reach USD 398.2 million by 2030, with a CAGR of 10.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The Asia Pacific region has experienced a substantial increase in vehicle ownership due to rising incomes, urbanization, and improved transportation infrastructure. This has resulted in a growing demand for lightweight materials, such as recycled carbon fiber, to enhance vehicle performance and fuel efficiency. Recycled carbon fiber materials can be engineered to meet specific performance requirements, providing automobile manufacturers with customization options. This flexibility allows manufacturers to design lightweight and fuel-efficient vehicles tailored to local market preferences.

Moreover, as the demand for electric vehicles (EVs) continues to grow, automakers are focused on ways to maximize battery efficiency and range. These fibers are used in EVs to reduce vehicle weight and extend battery life, which is crucial for the widespread adoption of electric mobility. Another significant advantage of using this is their positive environmental impact. By reducing waste from landfills and reducing the need for virgin fiber production, recycled fibers help conserve resources and reduce CO2 emissions. Moreover, reprocessed carbon fiber is considered more environmentally friendly. Fuel efficiency is a major concern for automotive manufacturers in the Asia Pacific region, where densely populated cities and congested traffic conditions are common.

The material’s lightweight properties make it a valuable material for reducing vehicle weight without compromising safety or performance. Also, many countries in the Asia Pacific region have implemented stringent emissions regulations to combat air pollution and reduce greenhouse gas emissions. This is further expected to drive the demand in the region. The product also possesses qualities similar to virgin composite, which is used to make composites used in the aerospace and defense industries. These fibers provide special benefits to aerospace and defense components, such as durability in extreme environments and at high temperatures, abrasion resistance, and corrosion resistance. To enhance fuel economy, this fiber has replaced aluminum in aircraft. Because of lightweight materials and structures, military aircraft can carry more fuel and payload than commercial aircraft.

North America, including the U.S. and Canada, has implemented strict environmental regulations aimed at reducing CO2 emissions and addressing climate change. The aerospace industry is heavily focused on reducing aircraft weight to enhance fuel economy and lower operational expenses. Lighter planes utilize less fuel, release less greenhouse emissions, and perform better overall. With its remarkable strength-to-weight ratio, recycled carbon fiber helps aircraft makers meet these light-weighting goals. Furthermore, aerospace companies in North America are actively investing in research and development to advance the use of the product. Collaborations between manufacturers, research institutions, and material suppliers have led to innovations in recycling technologies, material performance, and the development of new aerospace applications.

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Recycled Carbon Fiber Market Report Highlights

• The automotive application segment dominated the market with the largest revenue share of 36.2% in 2022 and is forecasted to grow at a significant CAGR over the forecast years

• Recycled carbon fiber's strength-to-weight ratio enhances vehicle performance, which allows automakers to design vehicles with better acceleration, handling, and braking capabilities, enhancing the driving experience and safety

• The Asia Pacific region led the market with a revenue share of 49% in 2022 owing to the growing purchasing power and increasing demand for fuel-efficient vehicles

• Recycled carbon fiber aligns with these regulations by minimizing waste and reducing the environmental impact of production. It repurposes existing carbon fiber materials and consumes fewer resources compared to virgin carbon fiber production

• Stringent regulations imposed by various government bodies on automobile manufacturers to reduce the weight of the vehicle and improve fuel efficiency are driving the product demand

Recycled Carbon Fiber Market Segmentation

Grand View Research has segmented the global recycled carbon fiber market on the basis of application and region:

Recycled Carbon Fiber Application Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Aerospace & Defense

• Consumer Goods

• Sporting Goods

• Others

Recycled Carbon Fiber Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players in Recycled Carbon Fiber Market

• TORAY INDUSTRIES INC.

• Mitsubishi Chemical Holdings Corporation

• Procotex Corporation SA

• Carbon Fiber Remanufacturing

• Sigmatex

• Gen 2 Carbon Limited

• SGL Carbon

• Teijin Group

• Carbon Conversions

• Alpha Recyclage Composites