Market Research Future (MRFR) studied the global recycled carbon fiber market 2022 for the review period till 2030. As per MRFR analysis, the market of recycled carbon fiber is expected to witness 12.75% CAGR over the analysis period to value USD 276,021.5 thousand by 2030.
The growing adoption of recycled carbon fiber market curb waste production and maximize the utility of available resources in the production process of end products made of carbon fiber is expected to support the market upsurge. Recycled carbon fibers offer similar properties as virgin carbon fiber, which are high tensile strength, low thermal expansion, resistance to chemicals, and lightweight. The expansion of the global recycles carbon fiber market can be attributed to the increase in awarness about such benefits of recycled carbon, resulting in diverse application. The increase in the utility of lightweight recycled carbon for automotive, defense, and aerospace applications can drive the market in the near future. Recycled carbon fiber benefits also promote cost-effectiveness, energy-efficiency, and environmental sustainability advantageous that make them effective material in the fabrication of battery boxes, lift gate systems, and pressure vessels, which, in turn, can improve the momentum of the recycled carbon fiber market over the review tenure.
Competitive Leaderboard:
SGL Carbon (Germany), Teijin Limited (Japan), Sigmatex (UK), Carbon Conversions (US), ZOLTEK Corporation (US), Carbon Fiber Recycling (US), Vartega Inc (US), ELG Carbon Fibre Ltd (UK), Hadeg (Germany), CFK Valley Stade Recycling GmbH Co. KG (Germany), PROCOTEX CORPORATION (Belgium), and Shocker composites LLC (US) are some reputed companies in the recycled carbon fiber market that are listed by MRFR in the new report.
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Market Segmentation:
The segment study of the global recycled carbon fiber market is based on type and end-use industry.
The type-based segments of the global recycled carbon fiber market are chopped carbon fiber, non-woven mats, and milled carbon fiber. The segment of non-woven mats can lead the global market by earning revenue of over USD 53,473.3 thousand by in 2030. The increasing need for cost-effective alternatives over virgin carbon fiber in the manufacturing of vehicle light-weighting by OEMs in the expanding transportation and automobile sector can add to the growth of the recycled carbon fiber market in the review tenure.
The end-use industry-based segments of the global recycled carbon fiber market are oil and gas, electronics, wind energy, aerospace, and sporting goods among others. The segment of automotive is anticipated to surge at 13.95% CAGR in the review period and the automobile segment is expected to value above USD 52,596.7 thousand by 2030.
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Regional Analysis:
The regional study of the worldwide global recycled carbon fiber market is done across Asia Pacific, North America, the Middle East Asia and Africa, Europe, and Latin America to garner insights into the market. MRFR data suggests that the market of recycled carbon in Asia Pacific can value at around USD 48,080.8 thousand by 2030 due to rapid growth of several industries and development in economic conditions across India, Malaysia, and South Korea.
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