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Recycled Carbon Fiber Market by Type, Source, End-use Industry and Region - Global Forecast to 2026

Recycled Carbon Fiber Market by Type, Source, End-use Industry and Region - Global Forecast to 2026

  • March 2022
  • 237 pages
  • ID: 5868650
  • Format: PDF
  • MarketsandMarkets


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The global recycled carbon fiber market size is projected to grow from USD 126 million in 2021 to USD 222 million by 2026, at a CAGR of 12.0% during the forecast period. These material features excellent properties such as high strength and modulus, low density, dimensional stability, and low thermal expansion. However, the negative impact of the COVID-19 pandemic across all the end-use industries has affected the recycle carbon fiber market adversely. The recycled carbon fiber market is growing due to the rise in the demand for cost-effective and high-performance materials, and stringent government regulations globally.

Chopped type is the fastest-growing segment in the recycle carbon fiber market in terms of both value and volume.
Chopped recycled carbon fiber is suitable for various industrial mixing and compounding processes including injection molding.It possesses low density, low thermal expansion, good electrical conductivity, excellent free-flowing behavior, and is non-corrosive.

It can be used in low- and high-temperature applications and for the manufacture of electrically conductive materials.

The high demand from the automotive & transportation, marine, industrial, aerospace & defense, and other end-use industries is expected to augment the demand for chopped fibers. Additionally, governments in various countries are focusing on the use of recycled material which will further lead to the demand for chopped recycled carbon fiber.

Aerospace scrap source to lead the recycle carbon fiber in terms of both value and volume.
Aerospace scrap is among the most prominent sources for obtaining carbon fibers for reuse.Aerospace OEMs have taken initiatives to recycle high-grade carbon fiber-based components used in the manufacture of aircraft components.

Aircraft manufacturers have taken several initiatives to strengthen the standards for the environment-friendly management for discarding end-of-life aircraft.For instance, Boeing entered into an agreement with ELG Carbon Fibre to supply its composite scrap to the company.

Leading manufacturers such as Toray Industries Inc. (Japan), ELG Carbon Fibre Ltd. (UK), Carbon Conversions Inc. (US), Shocker Composites LLC. (US), and Vartega Inc. (US) are sourcing fibers from aerospace scrap.

Automotive & Transportation end-use industry to be the largest in the recycle carbon fiber in terms of both value and volume.

Developed countries including Germany, the US, and Japan are focusing on the use of environment-friendly products.The EU has mandated that 85% of the materials used in vehicles are required to be recyclable.

As the waste generated from carbon fibers can be recovered and transformed into new products, recycled carbon fiber is an ideal material for use in a wide range of industries.The use of recycled carbon fiber in automotive parts makes them cost-effective.

According to a managing director of a leading recycled carbon fiber manufacturing company, the cost of recycled carbon fiber for use in automotive components ranges between USD 20/kg to USD 27/kg.
SGL Group (Germany) and BMW (Germany) have established a joint venture named SGL Automotive Carbon Fibers GmbH & Co.KG (Germany).

The company utilizes recycled carbon fiber in various automotive components.It has utilized recycled carbon fiber for the roof of the i3 electric drive and i8 plug-in hybrid cars.

Of the total CFRP parts used in the BMW i series, 10% are recycled carbon fiber. The company uses a closed-loop process for recycling dry carbon fibers.

Europe is the leading recycle carbon fiber market in terms of both value and volume.

Europe accounted for the major share in the recycle carbon fiber market, Europe dominated the recycled carbon fiber market in terms of value in 2020 The region has the presence of prominent recycled carbon fiber manufacturers, such as ELG Carbon Fibre Ltd. (UK), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), and SGL Carbon (Germany). The growth of the market in this region is supported by the advancement of composite technology solutions and penetration of composites in aerospace & defense, construction & infrastructure, automotive & transportation, and wind energy industries. The governments of many countries in the region are focusing on the use of environment-friendly products. This is further supporting the growth of the recycled carbon fiber market in Europe.

This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%
• By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
• By Region- Europe- 50%, Asia Pacific (APAC) - 20%, North America- 15%, Middle East & Africa (MEA)-10%, Latin America-5%,

The report provides a comprehensive analysis of company profiles :
Toray Industries Inc. (Japan), ELG Carbon Fibre Ltd. (UK), SGL Carbon (Germany), Karborek Recycling Carbon Fibers (Italy), Carbon Conversions Inc. (US), Carbon Fiber Recycling, Inc. (US), Shocker Composites LLC. (US), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), Carbon Fiber Remanufacturing (US), and Vartega Inc. (US).

Research Coverage
This report covers the global recycle carbon fiber market and forecasts the market size until 2025.It includes the following market segmentation – by Type (Chopped Recycled Carbon Fiber, Milled Recycled Carbon Fiber), by Source (Aerospace Scrap, Automotive Scrap & Others), by End-use industry (Automotive & transportation, Consumer Goods, Sporting Goods, Industrial, Marine, Aerospace & defense, and Others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America).

Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global recycle carbon fiber market.

Key benefits of buying the report:

The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report segments the global recycle carbon fiber market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the recycle carbon fiber market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion, and acquisition.

Reasons to buy the report:
The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall recycle carbon fiber market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

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