Recycled Carbon Fiber Market to Reach USD 464.02 Million by 2032 Amid Rising Utilization in Composite Applications

The recycled carbon fiber market is set to grow as automotive and aerospace demand lightweight, eco-friendly materials, driven by tech advances and policies.

AUSTIN, TX, UNITED STATES, January 7, 2025 /EINPresswire.com/ -- The Recycled Carbon Fiber Market Size was valued at USD 163.3 million in 2023, and is expected to reach USD 464.0 million by 2032, and grow at a CAGR of 11.7% over the forecast period 2024-2032.

Market Overview

The rise in the use of sustainable business practices and products, and demand for green materials in industries such as automotive and aerospace, would act as a direct stimulant for the growth of the Recycled Carbon Fiber market. Better technologies for recycling and government pressures for a reduced carbon footprint are forcing innovation and growing applications. The expectation is that closer cooperation between recycling facilities and manufacturing plants will see more products having recycled carbon fiber integrated into them as the market matures and a circular economy takes hold. One such breakthrough was in 2023 when Boeing, the premier aerospace manufacturer, announced a deal with Carbon Conversions, a leading firm in the recycled carbon fiber industry, to use the former in their aircraft manufacturing process. This partnership proves that it is becoming popular among big ventures and high-performance industries. On the other hand, another event that could add weight to its viability and sustainability is BMW's announcement in 2022 of introducing recycled carbon fiber into their new models of electric vehicles.

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Major Key Players Included are:

• Shocker composites LLC
• ZOLTEK Corporation
• Sigmatex
• Carbon Fiber Recycling
• SGL Carbon
• Hadeg
• Carbon Conversions
• ELG Carbon Fibre Ltd
• CFK Valley Stade Recycling GmbH & Co. KG
• PROCOTEX CORPORATION
• Teijin Limited
• Vartega Inc.

Segment Analysis

By end-use industry, the automotive & transportation segment dominated the recycled carbon fiber market and held more than 39% of the market share of the recycled carbon fiber market. Sustained economic growth surged the need for faster and more reliable modes of transportation. Recycled carbon fiber is often applied in transportation equipment where light weight, high stiffness, low bending, and high speed are required. Hence, it may act as one of the key drivers responsible for the recycled carbon fiber market growth.

Market Segmentation and Sub-Segmentation included are:

By Source
• Aerospace scrap
• Automotive scrap
• Others

By Type
• Chopped
• Milled
• Others

By Recycling Method
• Mechanical Recycling
• Chemical Recycling
• Pyrolysis
• Solvolysis
• Others

By End Use Industry
• Automotive & Transportation
• Consumer Goods
• Industrial
• Marine
• Aerospace & Defense
• Wind Energy
• Sports & Leisure
• Construction
• Electronics
• Others

Market Dynamics

Drivers:

• Rise in Demand for Lightweight Materials

The need in the automotive and aerospace industries is on the rise for recycled carbon fiber with improved properties in strength-to-weight ratio, better fuel efficiency, and performance.

• Advancing Technologies for Recycling

Better processes make carbon-fiber recycling more cost-effective and efficient, hence pushing up its market applications.

Opportunities:

• Rising Demand for Green Products

Growing level of environmental regulations and consumer preference towards sustainable products give way to a good market in favor of recycled carbon fiber.

• Growing Demand in New Applications

Potential growth in industries such as sports equipment and consumer goods opens new opportunities for the utilization of recycled carbon fiber.

Shifting Consumer Preferences Driving Innovation in the Recycled Carbon Fiber

Shifting consumer preferences toward sustainability are significantly driving innovation in the Recycled Carbon Fiber market. As industries, particularly in automotive, aerospace, and sports equipment sectors, prioritize eco-friendly solutions, there is a growing demand for recycled carbon fibers. Consumers are increasingly aware of the environmental impact of production processes, encouraging manufacturers to explore cost-effective recycling technologies such as pyrolysis and solvolysis. These advancements allow for the recovery of high-quality fibers from waste, offering a sustainable alternative to virgin carbon fiber. This trend is further amplified by the rise in electric vehicle adoption and stricter environmental regulations, pushing businesses to adopt recycled materials to reduce their carbon footprint. As sustainability becomes a key purchasing factor, manufacturers are innovating to meet consumer demand, positioning the RCF market for continued growth and transformation.

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Recent Developments

• February 2024: Thermolysis introduced at the JEC World a new range of fully recyclable products from recycled carbon fibre. The RCF brand is zero-waste, operating with processed recycled fibres in very strong yet light bicycle accessories, such as fenders, light stands, and seats.
• October 2023: Apply Carbon initiated a mass production facility for recycled carbon. With a capacity of 4000 metric tons, Apply Carbon has completed the fully automated task regarding a production plant for recycled carbon fiber.

Regional Analysis

In 2023, North America dominated the recycled carbon fiber market with a 41% revenue share, driven by advanced manufacturing, a strong automotive and aerospace sector, and evolving regulatory frameworks. The U.S. plays a key role, with major investments in recycling technologies and sustainability. Companies like Ford and General Motors use recycled carbon fiber in auto parts to enhance performance while meeting strict environmental regulations. Aerospace giants like Boeing and Airbus also incorporate recycled carbon fiber to meet industry standards and reduce environmental impact. Supported by strong recycling infrastructure, policies offering tax benefits, and a robust presence of recycling technology companies, North America remains a leader in the market.

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SNS Insider | Strategy and Stats
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