Global Recycled Carbon Fiber Market to be Dominated by Aerospace & Defence Segment Through 2028
Growing demand for eco-friendly
products is expected to drive the growth of Global Recycled Carbon Fiber Market
in the forecast period, 2024-2028.
According to TechSci Research
report, “Recycled Carbon Fiber
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”,
Global Recycled
Carbon Fiber Market is projected to grow at an impressive rate through 2028. This
can be attributed to the growing environmental awareness and shift towards
sustainable alternatives. Additionally, growing demand from various end user
industries such as automotive, aerospace, transportation, consumer goods, among
others is expected to support the market growth in the coming years. Besides,
increasing demand from composites industry for high performance and
cost-effective carbon fibers is further expected to drive the growth of
recycled carbon fiber market through 2028. Furthermore, growing focus on
environmental regulations as well as the dumping duty have prompted carbon
fiber manufacturers to recycle carbon fiber.
However, lack of technical
knowledge related to the manufacturing of recycled carbon fiber can restrict
the market growth in the coming years. Similarly, competition with low cost
mature products further hampers the market growth.
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Global Recycled
Carbon Fiber Market is segmented based on type, source, end user, and region. Based on type,
the market can be categorized into chopped recycled carbon fiber, milled recycled carbon fiber,
and others. Milled
recycled carbon fiber segment is expected to hold significant market share on
account of its high strength and electrostatic dissipation. Additionally,
milled carbon fiber offers dimensional stability and electrical conductivity. Based
on Source market can be segmented into aerospace scrap, automotive scrap, and
other scraps.
The aerospace scrap segment is expected to register the highest growth during
the forecast period on account of initiatives taken by aerospace OEMs to
recycle high grade carbon fiber-based components that are widely used in
manufacturing aircraft components.
Major
companies operating in Global Recycled Carbon Fiber Market are:
- Shocker Composites
LLC
- Vartega Inc.
- Alpha Recyclage
Composites
- Carbon Fiber
Recycling, Inc.
- Carbon Fiber
Remanufacturing
- ELG Carbon Fibre
Ltd.
- Procotex Corporation
SA
- Toray Industries,
Inc.
- SGL Carbon
- Carbon Conversions
Inc
Various companies operating in the market are
following strategies such as mergers & acquisitions, product launches,
partnerships & collaborations, increasing production capacities, among
others in order to stay competitive and have an edge over other players
operating in the market. For instance, in August 2022, Vartega, Inc. increased
their production capacity up to 2,000 metric tons per year.
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“Europe
is expected to witness significant growth in the recycled carbon fiber market
on account of growing demand from various end user industries especially
automotive and aerospace. Besides, the presence of key players operating in the
market in European countries such as Karborek Recycling Carbon Fibers, Procotex
Corporation SA, Alpha Recyclage Composites, among others is expected to create
lucrative opportunities for overall market growth in the coming years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Recycled Carbon Fiber Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Chopped Recycled Carbon Fiber, Milled
Recycled Carbon Fiber, Others), By Source (Aerospace
Scrap, Automotive Scrap, Other Scraps), By End User (Automotive &
Transportation, Consumer Goods, Sporting Goods, Industrial, Marine, Aerospace
& Defence, Others), By Region, and Competition has
evaluated the future growth potential of Global Recycled Carbon Fiber Market.
It provides statistics & information on market size, structure, and future
market growth. the report intends to provide cutting-edge market intelligence
and help decision-makers make sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Recycled Carbon Fiber Market.”
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