DUBLIN, Nov. 4, 2021 /PRNewswire/ — The “Global Recycled Carbon Fibers 2021” report has been added to ResearchAndMarkets.com’s offering.
Global market for Recycled Carbon Fibers estimated at US$106.4 Million in the year 2020, is projected to reach a revised size of US$203.8 Million by 2026, growing at a CAGR of 11.3% over the analysis period.
Chopped, one of the segments analyzed in the report, is projected to grow at a 11.9% CAGR to reach US$138.6 Million by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Milled segment is readjusted to a revised 10.3% CAGR for the next 7-year period. This segment currently accounts for a 40.9% share of the global Recycled Carbon Fibers market. Chopped fiber composite technology is suitable for meeting the needs of high volume, cost effective and lighter components for automotive industry.
Growth in the global market is set to be spurred by rising demand for high-performance and cost-effective composites coupled with stringent regulations to promote the adoption of green materials.
Growth in the market is driven by compelling merits of these fibers including environmental sustainability, lightweight nature, energy efficiency and cost-effectiveness. Recycled carbon fibers are used to produce carbon fiber reinforced polymers that find applications in the automotive, sports & consumer goods, aerospace and marine industries.
Recent advances related to fiber quality and processing of recycled carbon fibers are driving suppliers to shift the attention from down-cycling of these fibers into low-performance products towards new applications that gain from attractive properties of these materials.
The U.S. Market is Estimated at $35.6 Million in 2021, While China is Forecast to Reach $35.9 Million by 2026
The Recycled Carbon Fibers market in the U.S. is estimated at US$35.6 Million in the year 2021. The country currently accounts for a 29.8% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$35.9 Million in the year 2026 trailing a CAGR of 10.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 9.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR while Rest of European market (as defined in the study) will reach US$30.6 Million by the end of the analysis period.
The growing safety concerns of consumers are leading auto manufacturers to move towards stronger automotive bodies involving the use of carbon fiber, as against conventional metal bodies. In view of these requirements and the rising demand for carbon fiber, several commercial organizations, most in the EU and North America, have established carbon fiber recycling programs.
The aerospace industry is a major end-use market for carbon fibers. Most of the production capacity of small-tow carbon fibers, used in the aerospace industry, is located in Asia.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact on Recycled Carbon Fibers Market
- Rising Uptake of High-Performance Fibers & Sustainability Drive Set Perfect Stage for Recycled Carbon Fiber Market
- Sustainability Drive & Recycling: A Major Trend in Carbon Fiber Composites Domain
- Major Carbon Recycling Technologies
- Potential Gap in Carbon Fiber Demand & Supply and Environmental Issues Bode Well for Recycled Carbon Fiber
- Carbon Recycling Issues
- A Note on Carbon Fibers
- Cost of Carbon Fiber: A Major Limiting Factor
- Carbon Fiber Composites Market: Steady Growth Prospects
2. FOCUS ON SELECT PLAYERS (Total 49 Featured)
- Alpha Recyclage Composites
- Carbon Conversions Inc.
- Carbon Fiber Recycle Industry Co., Ltd.
- Carbon Fiber Recycling, Inc.
- Carbon Fiber Remanufacturing
- Catech H
- CFK Valley Stade Recycling GmbH & Co Kg
- Elevated Materials
- ELG Carbon Fibre Ltd.
- Hitachi Chemical Company, Ltd.
- Karborek Recycling Carbon Fibers
- Procotex Corporation SA
- Rymyc S.R.L.
- SGL Carbon
- Shocker Composites LLC
- Toray Industries, Inc.
- Vartega Inc.
3. MARKET TRENDS & DRIVERS
- Startups Seek Role in Carbon Fiber Recycling Market
- Some of the Leading Carbon Fiber Recycling Start-Up Companies
- Companies Venture into Development of Effective Processes for Recycling
- Carbon Fiber Recycling Presents a Cost-Effective Feedstock Option for Auto manufacturers
- Carbon Fiber Emerges Finds Increasing Preference for Replacing Steel in Automotive Industry
- Ongoing Shift towards Lighter Weight Vehicles to Drive Future Demand
- Emission Control Legislations in Select Regions/Countries
- Rise in Use of Carbon Fibers and Composites in Aerospace Sector Benefits Demand
- Adoption of In-House Recycling to Benefit Growth
- Increasing Share of Carbon Composites in Commercial Aircrafts
- Impact of Pandemic on Aerospace Sector
- Rising Investments in Wind Energy Augur Well for Market growth
- Growing Preference for Carbon Fiber over Glass Fiber in Wind Energy Sector to Benefit Demand
- Trend towards Longer & Lightweight Blades Bodes Well for Carbon Fiber Market
- Rising Potential for Carbon Fiber Usage Sport Goods to Drive Demand for Recycled Carbon Fiber
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/docwat
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