Recycled Carbon Fiber Market Worth $193 Million by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Feb. 27, 2020 /PRNewswire/ -- According to the new market research report "Recycled Carbon Fiber Market by Type (Chopped, Milled), Source (Aerospace Scrap, Automotive Scrap), End-use Industry (Automotive & Transportation, Consumer Goods, Sporting Goods, Industrial, Marine, Aerospace & Defense), Region - Global Forecast to 2025", published by MarketsandMarkets, the global Recycled Carbon Fiber Market size is expected 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 market is growing due to the increase in the demand for cost-efficient and high-performance materials with high strength to weight ratio, good tensile strength, and electrical conductivity. Strict environmental regulations in Europe and North America are also boosting the market growth.

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Chopped recycled carbon fiber comprises the major share of the market in terms of both value and volume.

Recycled carbon fiber is produced from waste CFRP composite materials. The fiber obtained from composite scrap is made to pass through a chemical process where the fiber is separated from the resin matrix system. The fiber obtained from the chemical process is termed as recycled fiber. Recycled carbon fiber is obtained in chopped and milled types. Chopped type possesses low density, low thermal expansion, good electrical conductivity, and excellent free-flowing behavior, and is non-corrosive. It can be used in low- and high-temperature applications and for making electrically conductive materials.

Aerospace scrap is the largest source of recycled carbon fiber.

Recycled carbon fiber is obtained from composite scrap. The main sources of composite scraps are aerospace and automotive scraps. Other sources, such as tennis racket scarp, trek bike scrap, and manufacturing waste, are used to obtain recycled carbon fiber. The aerospace scrap segment accounted for the largest share in terms of both value and volume of the global recycled carbon fiber market in 2019. A large number of recyclers depend on aerospace scrap for obtaining fibers.  Aircraft manufacturers have taken several initiatives to strengthen the standards for environment-friendly management in the discarding of end-of-life aircraft parts.