According to a recent study done by FMI, the recycled carbon fiber market is expected to reach US$ 3.91 billion by 2032, up from US$ 1.26 billion in 2021, expanding at a high CAGR of 11.8%. This study explains how recycled carbon fiber price is directly proportional to increasing concerns over climate change and awareness around the use of biodegradable products.

As the demand for pro-performance, eco-friendly, and energy-efficient products increases, the consumption of recycled carbon fiber is higher than ever. Countries like US, Germany, and Japan are investing more in research and development projects for recycled carbon fiber.

Factory shutdowns, closed supply chains, and brutally damaged end-use industries restrict the recycled carbon fiber market. The damage done by covid-19 to the aerospace market has led to a steep decline in recycled carbon fiber.

Not enough awareness about the use of recycled carbon fibers in manufacturing units of multiple products. The number of manufacturing skills one requires to retain the mechanical traits of virgin carbon fiber and produce recycled carbon fiber is very crucial.

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Competitive Landscape

The major carbon fiber recycling companies are dominated by SGL Carbon SE, ELG Carbon Fibre Ltd, Procotex Corporation SA, Vartega Inc, Carbon Conversions Inc, Carbon Fiber Recycling Inc, Shocker Composites LLC, Alpha Recyclage Composites, HEXCEL CORP, CFK VALLEY STADE RECYCLINGGMBH & CO KG, Elevated Materials and Sigmatex (UK) Limited. These companies are adopting new organic and inorganic plans to increase their recycled carbon fiber market stronghold.

Recycled Carbon Fiber Market by Category

By Type:

• Chopped
• Milled

By Source:

• Wind & Turbine Scrap
• Aerospace Scrap
• Others

By End Use:

• Automotive & Transportation
• Consumer Goods
• Sporting Goods
• Marine
• Industrial