September 14, 2023 06:05 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Sept. 14, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, factors such as the growing engagement in corporate social responsibility (CSR) initiatives, a heightened consciousness regarding adopting environmentally friendly products, and the promotion of recycling and reuse endeavors could lead to a substantial rise in the demand for Recycled Carbon Fiber. This increased demand is expected to impact various end-use sectors significantly, including but not limited to building and construction, automotive and transportation, aerospace and defense, power generation, and others. 1.5 Oz Chopped Strand Mat
According to Vantage Market Research, the Global Recycled Carbon Fiber Market is estimated to be valued at USD 0.3 Billion by 2030 and is expected to exhibit a CAGR of 10.3% from 2023 to 2030. The global Recycled Carbon Fiber market grew to USD 0.1 Billion in 2022.
One foremost benefit of Recycled Carbon Fiber is its capacity to divert waste away from landfills. Historically, recycling carbon fiber composites posed difficulties due to their intricate composition and the necessity to preserve their mechanical characteristics. Nonetheless, technological progress has enabled the disassembly and reprocessing of carbon fiber waste, transforming it into valuable raw resources suitable for diverse applications.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/recycled-carbon-fiber-market-2275/request-sample
Influential elements such as a rise in disposable income, technological advancements, and a notable increase in the number of original equipment manufacturers (OEMs) have collectively propelled substantial growth within the automotive and transportation sectors. As an illustration, data from a report released by the India Brands Equity Foundation reveals that domestic automobile production experienced a compounded annual growth rate (CAGR) of 2.36% between 2016 and 2020, culminating in manufacturing 26.36 million vehicles within India in 2020.
Top Companies in The Global Recycled Carbon Fiber Market
To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.vantagemarketresearch.com/recycled-carbon-fiber-market-2275/request-sample OR Enjoy a Fabulous 50% Discount with code "SEP50"! Don't miss out on these incredible savings @ https://www.vantagemarketresearch.com/buy-now/recycled-carbon-fiber-market-2275/0
Factors Affecting the Growth of the Recycled Carbon Fiber Industry
A variety of factors might have an impact on the growth of the Recycled Carbon Fiber sector. Some of these factors include:
Top Trends in Global Recycled Carbon Fiber Market
Manufacturers strategically allocate resources to advanced manufacturing technologies as the demand for Recycled Carbon Fiber continues. These technologies aim to elevate the caliber and performance of Recycled Carbon Fiber composites. Through precise control over fiber alignment and dispersion, these innovations result in heightened mechanical prowess. For instance, companies like ELG Carbon Fiber have spearheaded inventive recycling approaches that effectively extract carbon fiber from diverse waste sources—from end-of-life composites to manufacturing excess and automotive scrap. This progressive methodology yields high-quality Recycled Carbon Fiber endowed with attributes comparable to those of pristine carbon fiber.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/recycled-carbon-fiber-market-2275/0
Recent Development of the Global Recycled Carbon Fiber Market
The surging requirement for lightweight materials in the automotive, aerospace, and defense sectors is driving the escalating adoption of Recycled Carbon Fiber. This uptake is attributed to the material's exceptional advantages, encompassing cost-effectiveness, energy efficiency, reduced weight, and environmental sustainability. These fibers are finding extensive utility in the automotive and aerospace industries, contributing to applications like battery enclosures, pressure containers, and lift gate systems. The rising need for lightweight and environmentally friendly products results from expanding environmental regulations implemented by regulatory organizations such as the United States Environmental Protection Agency (EPA) and the European Union (EU) to reduce carbon emissions. Furthermore, the heightened emission standards witnessed in India and China have generated substantial demand for lightweight materials in the automobile sector.
Market Restraints The glass fiber & glass fiber composites and the carbon fiber & carbon fiber composites industries hold a considerable presence in key regions such as China, Japan, North America, and Europe. Yet, a notable transition towards emerging economies has emerged, notably within the Asia Pacific region. While Recycled Carbon Fiber boasts superior qualities to E-glass and S-glass fiber, its commercial utilization across various applications remains limited due to insufficient awareness of its benefits. A significant realm exists for integrating Recycled Carbon Fiber across sectors like marine, automotive & transportation, aerospace & defense, sporting goods, and wind energy. However, the ascendancy of virgin carbon fiber is propelled by heightened familiarity with its cost-effectiveness and high-performance attributes, thus generating substantial demand in these sectors. The automotive & transportation, aerospace & defense, and wind energy domains specifically exhibit a pronounced need for virgin carbon fiber, driven by end-user awareness and the robust distribution networks of manufacturers.
Market Opportunities Recycled Carbon Fiber emerges as a cost-effective and environmentally conscious alternative to raw carbon fiber. The rising emphasis on recyclability and ecological compatibility, spurred by stringent regulations, drives the preference for recyclable materials. For example, the End-of-Life Vehicles Directive incentivizes recycling. It provides economic benefits for eco-friendly vehicles, addressing the substantial annual production of eight to nine million tons of waste within the European Community due to end-of-life automobiles. Furthermore, the Aircraft Fleet Recycling Association (AFRA) advocates for sustainable practices and aircraft recycling. The escalating scarcity of landfill space for waste disposal has intensified the global demand for recyclable materials. Notably, the versatility of Recycled Carbon Fiber has extended its utilization into diverse sectors, including wind energy, sports, and electronics, thanks to its exceptional properties. With this momentum and the growing integration of recyclable and environmentally friendly materials across major end-user industries, substantial opportunities are anticipated to unfold throughout the forecast period.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Recycled Carbon Fiber Market Forecast Report (2023-2030).
Report Segmentation of the Global Recycled Carbon Fiber Market
Type Analysis The milled segment accounted for the most considerable market growth in the projected time frame. This can be attributed to various factors, including the increasing focus on sustainability, the advantages of milled carbon fiber over other carbon fiber forms, and the growing demand from industries such as automotive, aerospace, construction, and sporting goods. As these industries prioritize lightweight, high-performance materials, the need for milled carbon fiber will increase further in the coming years.
Source Analysis The Aerospace Scrap segment accounted for the maximum market growth in 2022. The increasing need for lightweight materials, the aerospace industry's focus on sustainability and cost-effectiveness, government requirements, technological breakthroughs in recycling procedures, and the increased range of end-use applications all contribute to this growth. These factors collectively create a favorable market environment for the aerospace scrap segment in the Recycled Carbon Fiber market.
End-Use Industry Analysis In 2022, the automotive and transportation segments accounted for the majority of market growth. The need for lightweight materials, sustainable manufacturing practices, cost savings, and advancements in recycling technologies drive this growth. With a growing emphasis on lowering environmental impact and enhancing fuel efficiency, Recycled Carbon Fiber will almost certainly play an extremely essential part in the future of automobiles and transportation.
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/recycled-carbon-fiber-market-2275
North America led the Recycled Carbon Fiber market growth in 2022. With the United States boasting the largest GDP in the area and the United States and Canada displaying swift economic growth, this region sets a strong foundation for market expansion. Canada's Composite Development Centre of Quebec (CDCQ) actively engages in the comprehensive composite materials value chain, including carbon fibers, and stands out for its significant involvement in carbon fiber recycling. Similarly, the projected increase in the commercial aircraft fleet in the United States, from 5,882 in 2020 to an estimated 8,756 by 2041, showcases an average annual growth rate of 2%. This surge is anticipated to drive heightened demand for carbon fiber across multiple aerospace applications, further fueling the market's growth trajectory.
Browse More Reports from Vantage Library:
Bioplastics Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/bioplastics-market-2274
Alcohol and Starch Enzyme Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/alcohol-and-starch-enzyme-market-1058
Industrial Gases Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/industrial-gases-market-0301
Chelating Agents Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/chelating-agents-market-2242
Superhydrophobic Coating Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/superhydrophobic-coating-market-2215
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
6218 Georgia Avenue NW Ste 1 - 564
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Mat Fiber Glass 600g Vantage Market Research All Reports