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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, BC, CANADA, June 2, 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.

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Some Key Highlights From the Report

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.

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Some major companies in the global market report include:

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.

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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)
Pyrolysis
Solvolysis
Others
Type Outlook (Revenue, USD Million; 2019-2030)
Chopped Recycled Carbon Fiber
Milled Recycled Carbon Fiber
Others
Application Outlook (Revenue, USD Million; 2019-2030)
Automotive
Civil Engineering
Marine
Sporting Goods
Pressure Vessels
Oil & Gas
Others
Regional Outlook (Revenue, USD Million; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

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Key Questions Answered in the Report:

What is the growth rate of the Recycled Carbon Fiber Market?

What is the anticipated market valuation of Recycled Carbon Fiber Market industry by 2030?

What are the key growth driving and restraining factors of the Recycled Carbon Fiber Market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Recycled Carbon Fiber Market industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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Recycled Carbon Fiber Market Size Worth USD 342.0 Million in 2030

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