(EMAILWIRE.COM, June 29, 2024 ) The report “Recycled Carbon Fiber Market by Type (Chopped, Milled), Source (Aerospace Scrap, Automotive Scrap), End-use Industry (Automotive & Transportation, Consumer goods, Sporting Goods, Aerospace & Defense), & Region – Global Forecast to 2028″ The recycled carbon fiber market is projected to grow from USD 154 million in 2022 to USD 278 million by 2028, at a CAGR of 10.0% during the forecast period.
Browse in-depth TOC on “Recycled Carbon Fiber Market
267 – Market Data Tables
60 – Figures
244 – Pages
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=212462057
Based on source, the global market for recycled carbon fiber was dominated by the aerospace scrap segment in terms of volume and value in 2022. Aerospace scrap-based recycled carbon fiber is widely used in automotive & transportation, aerospace & defense, marine, consumer goods, industrial, sporting goods, wind energy, and other end-use industries. Europe was the largest market for the aerospace scrap segment in 2022 followed by North America. CFRP composites are widely used in aerospace components. Hence, the major source of obtaining recycled carbon fibers is aerospace scrap. Large quantities of composites are discarded in the aerospace industry, leading to the availability of high volumes of scrap composites for recycling. Also, the automotive scrap- and other scrap-based recycled carbon fiber segments of the market are projected to grow significantly in terms of value and volume during the forecast period.
Based on type, the chopped recycled carbon fiber segment dominated the global recycled carbon fiber market in terms of volume and value in 2022. Chopped recycled carbon fiber has more demand due to its higher strength, durability, flexibility, and stability. It is also more lightweight than milled recycled carbon fiber. Europe was the largest market for chopped recycled carbon fiber in 2022 due to the demand from the automotive & transportation, aerospace & defense, and wind energy end-use industries. Also, low cost and ease of processing increase the demand for milled recycled carbon fiber in the construction & infrastructure, automotive & transportation, and other end-use industries.
Based on end-use industry, the global market for recycled carbon fiber was dominated by the automotive & transportation end-use industry in 2022, in terms of value and volume. Recycled carbon fiber is widely used in the automotive & transportation industry due to its lightweight and high tensile strength. Further, the industrial and marine sectors generate demand for recycled carbon fibers as they impart high-performance and corrosion-resistant properties to industrial machinery and marine structural parts. Also, in the aerospace & defense industry, recycled carbon fiber is used in various applications such as UAV airframes, seating, overhead stowage, fairings, and closures.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=212462057
Based on Region, Europe dominated the recycled carbon fiber market in 2022, and is expected to hold its market share during the forecast period (2023-2028). Also, Europe is expected to witness the highest growth between 2023-2028 due to the rising demand for recycled carbon fiber from various end-use industries in the region. And Germany is the largest market in the European recycled carbn fiber market. Economies such as Germany and UK make the region a highly promising market for recycled carbon fiber. An increase in demand from various end-use industry including automotive & transportation, sporting goods, consumer goods, aerospace & defense, and other industries in the region are expected to fuel the market growth during the forecast period.
Recycled Carbon Fiber Market Key Players
Top companies active in the recycled carbon fiber market include Toray Industries, Inc. (Japan), Carbon Conversions, Inc. (US), Gen 2 Carbon Limited (UK), Procotex (Belgium), Carbon Fiber Recycling (US), Shocker Composites, LLC. (US), Carbon Fiber Remanufacturing (US), Mitsubishi Chemical Group (Japan), Alpha Recyclage Composites (France), and CATACK-H (South Korea). These companies have strong distribution networks across major regions, such as Europe, North America, and Asia Pacific. They have a robust market presence and an established portfolio of reputable products and services. Further, they follow strong business strategies to expand their market presence. Furthermore, these players have broader geographical use cases and larger product footprints.
Don’t miss out on business opportunities in Recycled Carbon Fiber Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=212462057
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Ashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
