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Recycled Carbon Fiber Market: Overview

  • Recycled carbon fiber is an eco-friendly, economical substitute for virgin carbon fiber, which is often used in automotive and industrial applications. Recycled carbon fiber is commonly sourced from various dry fiber and pre-preg scrap. Recycled carbon fibers possess the same mechanical properties as those of virgin carbon fibers. They are ideally used in the manufacture of thermoplastics, non-wovens, and molding compounds.
  • Recycling of carbon fibers offers benefits such as reduction in the quantity of materials entering landfills and cost savings of 30% for producers in comparison to new carbon fibers
  • In automotive applications, recycled carbon fibers are often used in the production of chassis panels, floors, roof panels, spare wheel wells, and boot or bonnet inners
  • In the railways sector, recycled carbon fibers are often used for reducing the weight of other ancillary parts; increasing the payload; and reducing damage caused to the infrastructure. Recycled carbon fibers are highly suitable for use in the railways sector so as to enhance the efficiency and fuel economy. In addition, recycled carbon fibers are employed to produce flat panel parts including floors, roof panels, and complex interior or exterior components.

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Key Drivers of Global Recycled Carbon Fiber Market

  • Growing number of legislations and environmental sustainability targets in the global automotive sector are projected to drive the global recycled carbon fiber market in the near future. The EU legislations have mandated that 85% portion of automotive vehicles should be made of recyclable materials. This has led to development of recycled carbon fibers in Europe. Moreover, the waste generated from carbon fibers can be recovered and transformed into new products, which makes recycled carbon fiber an ideal material for use in a wide range of industries. Furthermore, processing of recycled carbon fibers requires nearly 10% less energy than that required to manufacture virgin carbon fibers. This helps in fulfillment of legislative and sustainability targets.
  • Nearly 30% of manufactured carbon fibers end up as waste. Carbon fibers is often regarded as a major contributor to solving global environmental issues. This helps in reducing a significant amount of carbon dioxide emissions over the lifecycle of products, which are made of carbon fibers. As a result, the demand for carbon fibers is projected to increase across a wide range of applications, including aircraft and automobile parts, in the next few years.
  • Low cost of recycled carbon fibers is expected to offer lucrative opportunities to the existing producers of virgin carbon fibers to move toward recycling of carbon fibers. For instance, ELG Carbon Fiber Ltd., a leading producer of recycled carbon fibers, offers recycled carbon fibers at nearly 40% less cost than industrial-grade virgin carbon fibers. Furthermore, the company operates the world’s first and largest carbon fiber recovery plant at Coseley, West Midlands in the U.K.

Europe to Hold a Major Share of Global Recycled Carbon Fiber Market

  • Geographically, the global recycled carbon fibers market can be segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • In terms of consumption, Europe is expected to be the dominant region of the global recycled carbon fibers market. When a carbon fiber bonds to plastic polymer resin, a composite material is formed, which is strong, durable, and lightweight. Furthermore, at the time of manufacture of finished components from carbon fibers, more than 30% of produced carbon fibers end up as a waste. Thus, producers of carbon fibers are shifting toward production of recycled carbon fibers. Since composites are extensively employed in a range of applications in industries such as aerospace & defense, building & construction, automotive, and energy, the demand for recycled carbon fibers in Europe is expected to increase in the next few years. Furthermore, governments of various countries in Europe are highly focused on the use of eco-friendly products. This, in turn, is likely to increase the consumption of recycled carbon fibers in the region in the near future.
  • The recycled carbon fiber market in Latin America and Middle East & Africa is highly consolidated in nature, due to presence of a few producers in these regions. These regions rely on imports from developed nations to meet the domestic demand.

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Key Players Operating in Global Recycled Carbon Fiber Market

Currently, the global recycled carbon fiber market is highly concentrated, with the top manufacturers accounting for a major market share. A few of the key players operating in the global recycled carbon fiber market are:

  • Vartega Inc.
  • Toray Industries Inc.
  • ELG Carbon Fiber Ltd.
  • SGL Carbon
  • Carbon Conversions Inc.
  • Carbon Fiber Recycling, Inc.
  • Shocker Composites LLC.
  • Procotex Corporation SA
  • Alpha Recyclage Composites
  • Carbon Fiber Remanufacturing

Global Recycled Carbon Fiber Market: Research Scope

Global Recycled Carbon Fiber Market, by Form

  • Semi-continuous
  • Chopped
  • Milled

Global Recycled Carbon Fiber Market, by End-use Industry

  • Automotive
  • Railways
  • Aerospace & Defense
  • Others

Global Recycled Carbon Fiber Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Recycled Carbon Fiber Market