The global recycled carbon fiber market size is projected to grow from USD 109 million in 2020 to USD 193 million by 2025, at a CAGR of 12.0% during the forecast period. The recycled carbon fiber market is growing due to the rise in the demand for cost-effective and high-performance materials, and stringent government regulations globally.
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Chopped recycled carbon fiber accounts for a significant market share in terms of value and volume.
The chopped recycled carbon fiber segment dominated the market in terms of value in 2019. Chopped recycled carbon fiber offers high-performance properties. It has high strength and modulus, low density, dimensional stability, and low thermal expansion. It also offers cost-saving benefits.
Aerospace scrap accounts for a major share in the recycled carbon fiber market in terms of value and volume.
Aerospace scrap-based recycled carbon fiber is widely used in the automotive & transportation, aerospace & defense, marine, consumer goods, industrial, sporting goods, wind energy, and other end-use industries. CFRP composites are widely used in aerospace components. Hence, the large source for obtaining recycled carbon fibers is aerospace scrap.
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Key Market Players
The key players in the global recycled carbon fiber market are Toray Industries Inc. (Japan), ELG Carbon Fibre Ltd. (UK), SGL Carbon (Germany), Carbon Conversions Inc. (US), Carbon Fiber Recycling, Inc. (US), Shocker Composites LLC. (US), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), Carbon Fiber Remanufacturing (US), and Vartega Inc. (US). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the recycled carbon fiber industry. The study includes an in-depth competitive analysis of these companies in the recycled carbon fiber market, with their company profiles, recent developments, and key market strategies.
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