Opportunities for the global recycled carbon fiber market to reach $105.5 million by 2027
DALLAS, May 19, 2022 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the recycled carbon fiber market looks promising with opportunities in transportation, aerospace, consumer electronics, and sporting goods industries. The global recycled carbon fiber market is expected to reach an estimated $105.5 million by 2027 with a CAGR of 8% from 2021 to 2027. The major drivers for this market are regulations for reuse & recyclability of materials and the cost advantage of recycled carbon fiber compared to virgin carbon fiber.
In this market, non-woven mats and chopped carbon fiber are the major type of recycled carbon fiber. Lucintel forecasts that non-woven mats will remain the largest product type and it is also expected to witness the highest growth over the forecast period due to the growing demand for low cost, recycled carbon fiber in structural applications.
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Within the recycled carbon fiber market, transportation will remain the largest end use industry and it is also expected to witness highest growth over the forecast period due to increasing demand for lightweight, cost-effective materials.
Europe will remain the largest region by value and volume and APAC is also expected to witness the highest growth over the forecast period supported by increasing use of composite materials in interior and exterior part of automobiles.
Emerging trend, which have a direct impact on the dynamics of the recycled carbon fiber industry, include the development of various processes and methods to reduce energy consumption and cost during recycling process. ELG Carbon Fiber, SGL, Carbon Coversion, Vartega, Procotex, Toray/Zoltek, and Karborek are among the major recycled carbon fiber manufacturers.
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Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the recycled carbon fiber market by application, end use, grade, function, and region. Lucintel has prepared a comprehensive research report entitled "Growth Opportunities in the Recycled Carbon Fiber Market 2022-2027: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected].
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Global Carbon Fiber Market - https://www.lucintel.com/carbon-fiber-market.aspx