Recycled Carbon Fiber Market Size (2024 - 2029)

The Recycled Carbon Fiber Market is projected to experience significant growth over the forecast period, driven by increasing demand from sectors such as lightweight vehicles and wind energy. Despite challenges posed by the COVID-19 pandemic, the market has been recovering due to the rising recycling of carbon fiber scrap and its cost-effectiveness. However, the market's expansion is somewhat constrained by the availability of substitutes and supply chain security issues. Opportunities are anticipated from advancements in recycling techniques and the growing interest in sustainability, particularly in additive manufacturing and 3D printing. The North American region is expected to lead in market growth.

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Market Size of Recycled Carbon Fiber Industry

Recycled Carbon Fiber Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 177.20 Million
Market Size (2029) USD 335.98 Million
CAGR (2024 - 2029) 13.65 %
Fastest Growing Market North America
Largest Market North America

Major Players

Recycled Carbon Fiber Market Major Players

*Disclaimer: Major Players sorted in no particular order

Recycled Carbon Fiber Market Analysis

The Recycled Carbon Fiber Market size is estimated at USD 177.20 million in 2024, and is expected to reach USD 335.98 million by 2029, growing at a CAGR of 13.65% during the forecast period (2024-2029).

  • The market was negatively impacted by COVID-19 in 2020 due to disruption in the supply chain. As the pandemic spread, many manufacturing plants involved in the recycling of carbon fiber globally were shut down due to the strict lockdowns. However, the sector has been recovering since restrictions were lifted owing to increased demand from various end-user industries, such as wind energy.
  • Over the short term, the rising demand for lightweight vehicles, growing carbon fiber scrap recycling, its increasing reuse in the wind energy sector, and the cost-effectiveness of recycled carbon fiber are some of the factors driving the market demand.
  • The availability of various substitutes and supply chain security for recycled carbon fiber are the factors hindering the market's growth.
  • Shifting focus toward sustainability, advancement in research and development for recycling techniques, and increasing potential demand from additive manufacturing and 3D printing sectors are likely to create opportunities for the market in the coming years.
  • The North American region is expected to dominate the market and is likely to witness the highest CAGR during the forecast period.

Recycled Carbon Fiber Industry Segmentation

Recycled carbon fiber is one of the strongest and lightest materials used to produce a composite material. Recycled carbon fibers offer benefits such as a reduction in the amount of material entering landfills and cost-saving of up to 30% compared to new carbon fiber. The waste generated from carbon fibers during the processing of dry fibers, prepreg scrap sources, and thermoset carbon fiber-reinforced composites is used to make recycled carbon fibers. 

The recycled carbon fiber market is segmented by type, source, end-user industry, and geography. By type, the market is segmented into chopped recycled carbon fiber and milled recycled carbon fiber. By source, the market is segmented into automotive scrap, aerospace scrap, and other sources. By end-User Industry, the market is segmented into automotive, aerospace and defense, wind energy, sporting goods, and other end-user industries. The report also covers the market size and forecasts for the recycled carbon fiber market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Chopped Recycled Carbon Fiber
Milled Recycled Carbon Fiber
Source
Automotive Scrap
Aerospace Scrap
Other Sources
End-user Industry
Automotive
Aerospace and Defense
Wind Energy
Sporting Goods
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of the World
South America
Middle East and Africa
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Recycled Carbon Fiber Market Size Summary

The recycled carbon fiber market is poised for significant growth, driven by increasing demand from various industries such as automotive, aerospace, and wind energy. The market's expansion is fueled by the rising need for lightweight materials, which are essential for improving fuel efficiency and reducing emissions. The cost-effectiveness and sustainability of recycled carbon fiber further enhance its appeal, particularly in sectors like aerospace, where it offers advantages such as durability and resistance to harsh conditions. Despite challenges like the availability of substitutes and supply chain security, advancements in recycling technologies and a shift towards sustainable practices present promising opportunities for market growth. The North American region, with its robust automotive and aerospace industries, is expected to lead the market, supported by strategic developments and technological advancements.

The market landscape is characterized by a partially consolidated structure, with key players such as Toray Industries Inc., Procotex, Vartega Inc., Gen 2 Carbon Limited, and Sigmatex playing significant roles. Recent expansions and strategic alliances, such as Vartega's facility expansion and Gen 2 Carbon Limited's partnership with Deakin University, highlight the industry's focus on enhancing recycling capabilities and reaching new markets. The aerospace sector, in particular, is witnessing a shift towards recycled carbon fiber to address aircraft waste and improve fuel economy, with companies like Airbus setting ambitious recycling targets. As the global demand for new aircraft continues to rise, the potential for carbon fiber recycling in the aerospace industry is substantial, contributing to the overall growth of the recycled carbon fiber market during the forecast period.

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Recycled Carbon Fiber Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Demand For Lightweight Vehicles

      2. 1.1.2 Growing Carbon Fiber Scrap Recycling and its Reuse in the Wind Energy Sector

      3. 1.1.3 Cost Effectiveness of Recycled Carbon Fiber

    2. 1.2 Restraints

      1. 1.2.1 Availability of Various Substitutes

      2. 1.2.2 Supply Chain Security for Recycled Carbon Fiber

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Revenue)

    1. 2.1 Type

      1. 2.1.1 Chopped Recycled Carbon Fiber

      2. 2.1.2 Milled Recycled Carbon Fiber

    2. 2.2 Source

      1. 2.2.1 Automotive Scrap

      2. 2.2.2 Aerospace Scrap

      3. 2.2.3 Other Sources

    3. 2.3 End-user Industry

      1. 2.3.1 Automotive

      2. 2.3.2 Aerospace and Defense

      3. 2.3.3 Wind Energy

      4. 2.3.4 Sporting Goods

      5. 2.3.5 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 South America

        2. 2.4.4.2 Middle East and Africa

Recycled Carbon Fiber Market Size FAQs

The Recycled Carbon Fiber Market size is expected to reach USD 177.20 million in 2024 and grow at a CAGR of 13.65% to reach USD 335.98 million by 2029.

In 2024, the Recycled Carbon Fiber Market size is expected to reach USD 177.20 million.

Recycled Carbon Fiber Market Report Snapshots

Recycled Carbon Fiber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)