Valued to be $203.8 Million by 2026, Recycled Carbon Fibers Slated for Robust Growth Worldwide

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Mar 01, 2022, 12:00 ET

SAN FRANCISCO, March 1, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Recycled Carbon Fibers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

Recycled Carbon Fibers - FEB 2022 Report

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Edition: 8; Released: February 2022
Executive Pool: 1174
Companies: 49 - Players covered include 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; Sigmatex; Toray Industries, Inc.; Vartega Inc.; V-Carbon and Others.
Coverage: All major geographies and key segments
Segments: Type (Chopped, Milled); End-Use (Automotive & Transportation, Aerospace & Defense, Consumer Goods, Industrial, Sporting Goods, Marine, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Recycled Carbon Fibers Market to Reach US$203.8 Million by the Year 2026
Recycled carbon fibers are derived from waste carbon fibers generated during processing of dry fibers, prepreg scrap sources and thermoset carbon fiber-reinforced composites. Recycled carbon fiber is suitable for use in the manufacture of non-woven and molding compounds, and thermoplastics.

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. While recycled carbon fiber is unlikely to replace virgin fiber in specific applications that require high stiffness and strength, they are likely to gain more attention across other applications. These gains can be attributed to the ability of recycled fibers in surpassing virgin fibers in terms of properties like surface finish and drapability.

Amid the COVID-19 crisis, the global market for Recycled Carbon Fibers estimated at US$134.1 Million in the year 2022, 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.

The U.S. Market is Estimated at $40.3 Million in 2022, While China is Forecast to Reach $35.9 Million by 2026
The Recycled Carbon Fibers market in the U.S. is estimated at US$40.3 Million in the year 2022. 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. More

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