The report “Recycled Carbon Fiber Market by Type (Chopped, Milled), Source (Aerospace Scrap, Automotive Scrap), End-use Industry (Automotive & Transportation, Consumer goods, Sporting Goods, Aerospace & Defense), & Region – Global Forecast to 2028”, is estimated to grow USD 172 million in 2023 and is projected to reach USD 278 million by 2028, at a CAGR of 10.0% from 2023 to 2028. The report covers recycled carbon fiber market size, recent trends, growth projections, market share, and development status. The recycled carbon fiber market is growing due to the rise in the demand for high-performance and lightweight materials, cost-effective, and stringent government regulations globally.
Browse 267 market data Tables and 60 Figures spread through 244 Pages and in-depth TOC on “Recycled Carbon Fiber Market by Type (Chopped, Milled), Source (Aerospace Scrap, Automotive Scrap), End-use Industry (Automotive & Transportation, Consumer goods, Sporting Goods, Aerospace & Defense), & Region – Global Forecast to 2028”
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=212462057
Chopped recycled carbon fiber accounts for a significant market share in terms of value and volume.
The chopped recycled carbon fiber segment dominated the market in terms of value in 2022. Chopped recycled carbon fiber offers high-performance properties such as high strength and modulus, low density, dimensional stability, and low thermal expansion. It also offers cost-saving benefits.
Aerospace scrap accounts for a major share of the recycled carbon fiber market in 2022.
Aerospace scrap is the major source for producing recycled carbon fiber. The aerospace industry consumes high volumes of virgin carbon fiber for manufacturing various composite parts. Thus, this industry is the main source of scrap carbon fiber for recycled carbon fiber manufacturers. Aircraft manufacturers have undertaken several initiatives toward eco-friendly management in discarding end-of-life aircraft. For instance, Boeing partnered with Gen 2 Carbon to supply its composite scrap to the company. The company encourages using recycled composite components and reusing fibers from recycled composite scrap to manufacture aerospace composite parts.
Automotive & transportation to be the largest end-use industry in the global recycled carbon fiber market in terms of value and volume
The automotive & transportation end-use industry dominated the global recycled carbon fiber market in 2022. Recycled carbon fiber is used in chassis panels, floors, roof panels, spare wheel wells, and boot or bonnet inners, among other automotive parts. It is also used in the complex interior or exterior components of trains.
Asia Pacific is witnessing an exceptional growth during the forecast period in the recycled carbon fiber market
The growth of the recycled carbon fiber market in the Asia Pacific is driven by the increasing consumption in aerospace & defense, consumer goods, automotive & transportation, construction & infrastructure, and industrial sectors. The market in these end-use segments is led by China, Japan, South Korea, and other countries. Due to continuous technological advancements, the demand for lightweight and high-strength materials is increasing, leading to developments in the Asia Pacific recycled carbon fiber market. The growing electric vehicle market is among the key factors fostering the demand for recycled carbon fiber in transportation applications. The continuous rise in technologically advanced electronic product manufacturing in the region has resulted in high demand for high-strength and lightweight electronic products. The rising demand for technologically advanced electronic products has led to innovations and developments in the Asia Pacific electronics industry.
Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=212462057
Recycled Carbon Fiber Market Key Players
The major players in recycled carbon fiber market are Toray Industries, Inc. (Japan), Alpha Recyclage Composites (France), Mitsubishi Chemical Group (Japan), Gen 2 Carbon Limited (UK), Carbon Conversions, Inc. (US), Carbon Fiber Recycling (US), Shocker Composites, LLC. (US), Procotex (Belgium), Carbon Fiber Remanufacturing (US), and CATACK-H (South Korea).
Gen 2 Carbon (UK)
ELG Carbon Fibre (now Gen 2 Carbon) was founded in 2003 and is headquartered in the UK. It is one of the largest producers of recycled carbon fiber globally. ELG Carbon Fibre has been take over by Gen 2 Carbon in 2021. Gen 2 Carbon is expected to build upon the capability that has been developed under the stewardship of ELG Haniel and Mitsubishi Corporation, which were 25% shareholders in the business and seek to develop next-generation carbon fiber recycling technologies and continue to grow the market for carbon fiber and thermoplastic nonwovens in the composites industry. The company is expected to continue to provide recycled carbon fiber products–milled fibers, chopped fibers, and pellets for the automotive, rail, and aerospace industries. The company’s main focus is on developing and industrializing conversion technologies to manufacture recycled carbon fiber products.
Carbon Conversions (UK)
Carbon Conversions is a manufacturer of reclaimed carbon fibers and recycles carbon fiber and produces carbon fiber-reinforced parts. These high-performance materials and components have multiple applications in industry verticals such as automotive, aerospace, construction, marine, electronics, and sports equipment. Carbon Conversions operates its recycling and manufacturing operations from its 50,000 square feet facility and warehouses in Lake City, South Carolina. The company owns a composite R&D center at its plant which helps accelerate its product and process development activities.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=212462057
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/recycled-carbon-fiber-market-212462057.html