The recycled carbon fiber market size was expected at 115 million and is expected to grow at a CAGR of 10.6% in the outlook period between 2023 and 2028.

Recycled Carbon Fiber have been employed as a reinforcement material for the synthesis of polypropylene-based thermoplastic matrix composites with different fibre/resin ratios (10, 20 and 30%) by means of injection moulding; these are the main factors that have considerably increased the demand for the Recycled Carbon Fiber in the market, thereby driving the huge growth of the Recycled Carbon Fiber market in the upcoming years

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Recycled Carbon Fiber in the market is mainly due to the huge rise in the number of legislations and environmental sustainability targets in the global automotive sector are projected to drive the global recycled carbon fiber market in the near future. The EU legislations have mandated that 85% portion of automotive vehicles should be made of recyclable materials. This has led to development of recycled carbon fibers in Europe. Moreover, the waste generated from carbon fibers can be recovered and transformed into new products, which makes recycled carbon fiber an ideal material for use in a wide range of industries. Furthermore, processing of recycled carbon fibers requires nearly 10% less energy than that required to manufacture virgin carbon fibers. This helps in fulfillment of legislative and sustainability targets; these are the main factors that have considerably increased the demand for the Recycled Carbon Fiber in the market

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Report is segmented as:

Recycled Carbon Fiber Market is segmented on the basis of by:

By Type into Chopped, Milled
By Source into Aerospace Scrap and Automotive Scrap
By End-Use Industry into Power, Chemical, Sporting Goods, Metal and Mining, Electrical and Electronics, Automotive and Transportation and Marine
Geographical Segmentation:

Recycled Carbon Fiber Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Recycled Carbon Fiber is due to the highly focused on the use of eco-friendly products these are the main factors that have considerably increased the demand for the Recycled Carbon Fiber in the North America region , followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Recycled Carbon Fiber Market

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Impact of COVID-19 on Market

Covid -19 pandemic has affected every industry, and the long-term consequences are projected to influence the Recycled Carbon Fiber boom for the duration of the forecast period. Covid-19 pandemic has impacted large on the income of Recycled Carbon Fiber market. COVID-19 has adversely affected the Recycled Carbon Fiber market. The restrictions and lockdown imposed by means of the authorities in quite a few international locations has gradual down the market and reduce the Recycled Carbon Fiber. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Recycled Carbon Fiber market growth.

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