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Increasing demand for lightweight materials and products from end-users is a key factor driving recycled carbon fiber market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, September 6, 2022 /EINPresswire.com/ -- The global recycled carbon fiber market size reached USD 126.0 Million in 2021 and is expected to register a revenue CAGR of 11.7% during the forecast period, according to latest analysis by Emergen Research. Increasing focus on the development of alternative technologies such as wind turbines, solar panels, and others that effectively utilize natural resources and aid in power generation is a crucial factor driving market revenue growth.
Carbon fiber is a versatile material that is extensively used across end-use industries. Increasing demand can be mainly attributed to its ability to substitute prominent materials including steel, and others. In addition, carbon fiber is lightweight as well as strong, and therefore, it is used in the manufacturing of specialized, and high-performance products like aircraft, racing cars, and others. Prominent end-use industries are continuously engaged in the reutilization of carbon fiber as it significantly reduces their operating costs. Moreover, with increasing focus on the reduction of materials entering landfills recycling or reutilization procedures become even more critical.
Increasing collaboration with prominent market participants plays a major role in driving the market growth. For instance, on May 3, 2022, Cannon Ergos, a leading manufacturer of technologies & processing equipment, and a part of Cannon Group, headquartered in Italy, Europe, announced a collaboration with Boeing, a leading manufacturer, and service provider of commercial airplanes, defense products, and space systems, based in Illinois, U.S. to mold thermoplastic composite aircraft sidewall panels using recycled carbon fiber. Recovery and reutilization of carbon fiber waste generated during production processes across end-use industries are economically viable and support the implementation of frameworks by international authorities, for instance, Europe’s Waste Framework Directive 2008/98/EC focuses on the emission of industrial waste and its disposal to landfills. In addition, it also aligns with the targets set by Europe’s Circular Economy Package for sustainable production practices.
The report analyzes the Recycled Carbon Fiber market by taking into consideration the key factors that drive or restrain the growth of the market. The report considers COVID-19 as one such factor. The report is furnished with the current market scenario and changes in the trends and dynamics of the industry with regard to the impact of the COVID-19 pandemic on the Recycled Carbon Fiber market. The report also strives to offer a futuristic outlook for remuneration and market growth in a post-COVID-19 scenario. It also includes the current and future impact of the pandemic on the Recycled Carbon Fiber business sphere and its key segments.
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Global Recycled Carbon Fiber Market has been developing at a rapid rate and is contributing significantly to the global economy in terms of revenue, growth rate, sales, market share, and size. The Global Recycled Carbon Fiber Market report is a comprehensive research document that provides valuable insights to the readers to understand the fundamentals of the Recycled Carbon Fiber market.
Key Players of Recycled Carbon Fiber Market
Toray Industries, Inc., SGL Carbon, Carbon Conversions, Shocker Composites, LLC, Procotex, Alpha Recycling Composites, Carbon Fiber Remanufacturing (CFR), Vartega Inc., ZOLTEK Corporation, CATACK-H, Elevated Materials, and Mitsubishi Chemical Corporation.
Global Recycled Carbon Fiber Market Segmentation based on Product Type and Application:
Emergen Research has segmented global recycled carbon fiber market on the basis of processes, type, application, and region:
Processes Outlook (Revenue, USD Million; 2019-2030)
Type Outlook (Revenue, USD Million; 2019-2030)
Application Outlook (Revenue, USD Million; 2019-2030)
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Key Highlights of the Recycled Carbon Fiber Market Solvolysis segment accounted for moderate revenue share in 2021. Solvolysis process is the next-generation carbon fiber recycling technology that offers the recovery of chemical products from the polymer as well as the recovery of high-grade carbon fiber with minimal degradation. Increasing demand from the construction industry, and rising awareness among end-users regarding various benefits of utilizing processes such as solvolysis to extract carbon fiber, are major factors driving the growth of this segment. Carbon fiber materials play a critical role in the construction industry. This is primarily attributed to their exceptional physical and mechanical properties such as high compression and shear strength, flexibility, and others. Therefore, they are extensively used in preventing cracks in building structures. Moreover, their enhanced capabilities to withstand extreme temperatures enable industry professionals to replace steel with carbon fiber.
Chopped Recycled Carbon Fiber segment accounted for significant revenue share in 2021. Increasing demand from the automotive industry and wide availability of various grades of chopped recycled carbon fiber from prominent market participants such as ZOLTEK Corporation, and others play a crucial role in driving this segment’s growth. Chopped recycled carbon fiber offers various material properties such as low density, high strength, dimensional stability, and low thermal expansion. In addition, it also provides significant cost savings for manufacturers. Therefore, demand for chopped recycled carbon fiber is rising and this is going to continue throughout the forecast period.
Marine segment accounted for significant revenue share in 2021. Significant investments by prominent market participants is a major factor contributing to the growth of this segment. Carbon fiber composites will make the next generation of yachts, cruisers, and racing vessels lighter and stronger. Tough, long-lasting carbon composite materials withstand the rigors of marine environments. In addition, carbon fiber\'s high specific stiffness lends itself well to use in applications such as masts, hulls, and propellers. The end result is improved fuel efficiency in end products and cost-effectiveness in the marine manufacturing process.
Key Coverage of the Recycled Carbon Fiber Market:
Insightful information regarding the global Recycled Carbon Fiber market
Identification of growth in various segments and sub-segments of the Recycled Carbon Fiber market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision-making process through the availability of the drivers and limitations
The report provides a comprehensive analysis in an organized manner in the form of tables, graphs, charts, figures, and diagrams. The organized data paves the way for thorough examination and research of the current and future outlook of the market. The report further offers a thorough SWOT and Porter’s Five Forces analysis to impart a better understanding of the competitive landscape of the Recycled Carbon Fiber market.
The market is spread across several key geographical regions, and the report covers the regional analysis as well as the production, consumption, revenue, and market share in those regions for the forecast period of 2022-2030. The regions include North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
Comprehensive Regional Analysis of the Recycled Carbon Fiber Market
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Recycled Carbon Fiber market, including the global and regional analysis of the market. The study covers critical information and factual data about the Recycled Carbon Fiber industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Recycled Carbon Fiber market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Recycled Carbon Fiber industry.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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