The recycled carbon fiber market was valued at USD 132 million in 2022 and is estimated to reach USD 486 million at a 19% CAGR during the forecast period 2023-2028.

Recycled carbon fibre is a product made from used carbon fibre that has been gathered from a variety of sources, including production waste, end-of-life items, and post-industrial trash. The collected carbon fibre must first be broken down into tiny pieces before being processed to produce a useful substance. While being more cost- and environmentally-friendly than raw carbon fibre, recycled carbon fibre still has many of the same qualities as the latter, including high strength, stiffness, and light weight. To create products that are strong, light, and sustainable, the material is employed in a range of industries, including construction, sporting goods, automotive, and aerospace.

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Market Drivers and Restraints:

Several factors are driving the market for recycled carbon fibre. First off, due to the increasing demand for lightweight materials in sectors like aerospace, automotive, and wind energy, carbon fibre composites have become a popular option. These materials are both strong and light. Second, environmental concerns have been a major factor because recycled carbon fibre minimizes energy use, landfill waste, and greenhouse gas emissions related to the manufacture of virgin carbon fibre. The utilization of recycled carbon fibre lowers the cost of raw materials, making it more accessible for manufacturers, which brings us to our third and last motivating factor: cost savings. Fourthly, recycled materials use and trash minimization are being encouraged by government legislation across the globe. Finally, technological developments have improved the efficiency and cost-effectiveness of recycling carbon fibre, making it a competitive alternative to raw carbon fibre.

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The market for recycled carbon fibre faces a number of obstacles that prevent it from expanding, including the high price compared to substitute materials, the limited supply resulting from the early stages of the recycling process, the lack of standardization, and legal restrictions on the handling and disposal of carbon fibre waste. Recycled carbon fibres’ price is still an obstacle, which reduces its marketability in particular sectors. In addition, the scarcity of recovered carbon fibre makes it difficult to scale up production. Additionally, recycled carbon fibre cannot have the same mechanical qualities as virgin carbon fibre, which restricts its use in some circumstances. It is difficult to compare the quality of various recycled carbon fibre products since there are no standardized procedures or requirements for recycled carbon fibre. Regulations governing the management and disposal of carbon fibre waste may also limit the market's expansion for recycled carbon fibre. These difficulties must be overcome in order to realize recycled carbon fibres’ full potential.

The report is segmented as follows:

By Source Material (Manufacturing waste, End-of-life product, surplus materials, and Others)
By Form (chopped fibers, milled fibers, and carbon fiber mats)
By End-use Industry (aerospace, automotive, wind energy, and sporting goods)
Regional Segmentation:

North America
Europe
Asia Pacific
Latin America
Middle east and Africa
Impact of COVID-19 pandemic on the market:

The COVID-19 epidemic has had a conflicting effect on the market for recycled carbon fiber. Recycled carbon fiber has become a more desirable substitute for manufacturers who are concerned with costs despite the fact that supply chain interruptions have increased the price and caused a shortage of virgin carbon fiber. The epidemic has, however, also led to a decline in construction and industry, which has decreased demand for carbon fiber, especially that in recycled form. As companies continue to adjust to the constantly shifting conditions, it is still unknown how the pandemic will ultimately affect the market for recycled carbon fiber.

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