The global Recycled Carbon Fiber market was valued at USD 195 million in 2024, and is expected to reach USD 390 million by 2030, recording an impressive CAGR of 12.1%. The recycled carbon fiber market involves repurposing carbon fibers from waste into new products. The market is driven by high demand from the automotive, aerospace, and sporting goods sectors due to the lightweight and strength of the material. Demand is rising in Europe and North America, fueled by environmental regulations, government support for recycling waste, and cost savings. Some of the market challenges include high recycling costs and maintaining consistent quality. However, advancements in technology and the increasing adoption of new industries, like wind energy and construction, present ample opportunities for growth. This can be attributed to the fact that sustainability has become a priority. Moreover, market players are adopting new innovations as a means to reduce costs.
Market Dynamics
Recycled carbon fiber finds large applications in the automotive and aerospace industry
Recycled carbon fiber is emerging as a pivotal material in the automotive and aerospace sectors, driven by its compelling combination of sustainability and performance. Its lightweight characteristics contribute to improved fuel efficiency in vehicles and aircraft, while its exceptional strength and durability make it ideal for structural components. The automotive industry is increasingly adopting recycled carbon fiber for battery enclosures and interior parts, not only for environmental benefits but also due to cost savings of up to 40% compared to industrial-grade virgin carbon fiber. The aerospace sector is exploring its potential in aircraft wings, satellites, and other critical components, aiming to reduce weight and manufacturing waste. With the growing demand for cost-effective materials, Asia is becoming a focal point for the recycled carbon fiber market.
Chopped carbon fiber dominates the market and finds applications in multiple sectors due to its superior strength, durability, and light weight
Recycled carbon fiber is primarily categorized into chopped and milled forms. Chopped recycled carbon fiber dominates the market due to its superior strength, durability, and flexibility. It is lighter than milled fiber, and finds extensive use in the automotive, aerospace, and wind energy sectors.
Europe is a key market for chopped fiber due to its widespread use in the above-mentioned industries. The overall dominance of chopped fiber over milled fiber is due to its versatility and high demand across multiple sectors. The automotive industry is a major driver, seeking lightweight materials to enhance fuel efficiency and reduce emissions. Some of the properties of chopped fiber incude low density, thermal stability, and electrical conductivity, which makes it suitable for various industrial processes like injection molding. Its ease of processing further boosts its appeal to end users. Milled fiber, while offering cost-efficiency and ease of processing, has applications in construction, automotive, and other industries.
By source, aerospace scrap is currently the largest segment
Aerospace scrap is currently the primary source of recycled carbon fiber, owing to the extensive use of composite materials in aircrafts. This sector generates a substantial amount of scrap during the manufacturing and end-of-life phases. While the automotive and other sectors are emerging as significant sources, aerospace remains the dominant supplier. This reliance on aerospace scrap highlights the importance of sustainable practices in the aviation industry. As regulations tighten on waste disposal and environmental concerns grow, the automotive and other sectors are expected to contribute more significantly to recycled carbon fiber supply in the future.
The European region is expected to grow with the highest CAGR during the study period.
The key players in the carbon fiber market, such as Procotex, Gen 2 Carbon & others, are located mostly in the Europe region. The region's robust automotive and aerospace industries, coupled with its historical focus on advanced manufacturing, create a strong demand for recycled carbon fiber. Additionally, substantial investments in recycling technologies and supportive government policies further accelerate market growth. Stringent environmental regulations of the region also encourage sustainable material adoption.
Key Market Players
Key market players functioning in the Recycled Carbon Fiber market include Toray Industries (Japan), Mitsubishi Chemical Group (Japan), Catack-H (S. Korea), Procotex (Belgium), Gen 2 Carbon Ltd. (UK), Vartega (U.S), Carbon Conversions (U.S), Carbon Fiber Recycling (U.S), Shocker Composites (U.S), Alpha Recyclage Composites (France), among others. Companies in the recycled carbon fiber business are focusing on technological advancements, strategic partnerships, and expanding applications across industries like automotive, aerospace, and electronics. They aim to reduce costs, enhance quality, and promote sustainability to meet rising market demands.
Scope of the Report
| Market Size Estimation | 2024–2030 |
|---|---|
| Base Year Considered | 2024 |
| Forecast Period Considered | 2025–2030 |
| The Market Size Value In 2024 | USD 195 million |
| Revenue Forecast In 2030 | USD 390 million |
| Growth Rate | CAGR of 12.2% from 2025 to 2030 |
| Units Considered | Value (USD Million) |
| Segments Covered | Type, Source, End Use, and Region |
| Regions Covered | North America, South America, Europe, APAC, and Middle East & Africa |
| Companies Studied | Toray Industries (Japan), Mitsubishi Chemical Group (Japan), Catack-H (S. Korea), Procotex (Belgium), Gen 2 Carbon Ltd. (UK), Vartega (U.S.), Carbon Conversions (U.S.), Carbon Fiber Recycling (U.S.), Shocker Composites (U.S.), Alpha Recyclage Composites (France) |
Segmentation
This research report categorizes the global recycled carbon fiber market based on type, source, end use, and region.
By Type
- Chopped
- Milled
By Source
- Aerospace Scrap
- Automotive Scrap
- Others
By End Use
- Automotive & Transportation
- Consumer Goods
- Sporting Goods
- Marine
- Defense
- Industrial
By Region
- North America
- South America
- Europe
- APAC
- Middle East and Africa
Recent Developments
In December 2023, Toray Industries, Inc. successfully developed Recycled Carbon Fiber (rCF) from Boeing 787 component production using their advanced TORAYCA™ carbon fiber. This rCF, produced through a pyrolysis recycling process, is now used as a reinforcement filler in the Lenovo ThinkPad X1 Carbon Gen 12 thermoplastic pellets. Toray and Lenovo plan to expand rCF usage in other Lenovo products, continuing their collaboration.
In August 2023, Carbon Conversions partnered with Joby Aviation to develop sustainable carbon fiber solutions for their aviation business. This collaboration aims to reduce the environmental impact of the burgeoning electric aviation industry. This groundbreaking collaboration aims to reduce the aviation industry's carbon footprint by developing a circular economy for carbon fiber.
In December 2022, Asahi Kasei developed a basic technology for recycling continuous carbon fiber under the project “Circular Economy Program for the Automotive Carbon Fiber”. Asahi Kasei's "electrolyzed sulfuric acid method" can break down any resin and recover the fibers without compromising their strength. This recycled fiber can then be used to create new CFRP (continuous fiber reinforced material), a valuable material in various industries.
In June 2021, Apply Carbon France, a subsidiary of Proctex invested in a new manufacturing facility for the recycled carbon fiber to produce a full range of pyrolyzed and non-pyrolyzed, sized, cut, milled, and granulated recycled fibers. This was done to facilitate the integration of Gen 2 Carbon, U.K. short carbon fiber business, and help in addressing the growing market for recycled carbon fibers.
Table of Content
1.1. Objective of the Study
1.2. Market Definition
1.2.1. Regions Covered
1.2.2. Years Considered
2.1. Assumptions
2.2. Primary & Secondary Sources
2.3. Market Size Estimation
2.3.1. Top-Down Approach
2.3.2. Bottom-Up Approach
4.1. Market Share Analysis
4.2. Product Benchmarking
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Constraints
5.1.3. Market Challenges
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining Power of Suppliers
5.2.2. Bargaining Power of Customers
5.2.3. Threat of New entrants
5.2.4. Threat of Substitution
5.2.5. Degree of Competition
6.1. Value Chain Analysis
6.2. Pricing Analysis
6.3. Suppliers and Distributors
6.4. Covid-19 Impact Analysis
7.1. Chopped
7.2. Milled
8.1. Aerospace Scrap
8.2. Automotive Scrap
8.3. Others
9.1. Automotive & Transportation
9.2. Consumer Goods
9.3. Sporting Goods
9.4. Marine
9.5. Defence
9.6. Industrial
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. South America
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Chile
10.4. Europe
10.4.1. U.K.
10.4.2. France
10.4.3. Germany
10.4.4. Italy
10.4.5. Others
10.5. APAC
10.5.1. China
10.5.2. India
10.5.3. Japan
10.5.4. Indonesia
10.5.5. Others
10.6. Middle East and Africa
10.6.1. Saudi Arabia
10.6.2. Turkey
10.6.3. UAE
10.6.4. South Africa
10.6.5. Others
11.1. Introduction
11.1.1. New Product Launches
11.1.2. Key M&As, Collaborations, JVs and Partnerships
11.2. Toray Industries
11.2.1. Business Overview
11.2.2. Product Portfolio
11.2.3. Recent Developments
11.2.4. SWOT Analysis
11.3. Mitsubishi Chemical Group
11.4. Catack-H
11.5. Procotex
11.6. Gen 2 Carbon Ltd.
11.7. Vartega
11.8. Carbon Conversions
11.9. Carbon Fiber Recycling
11.10. Shocker Composites
11.11. Alpha Recyclage Composites
11.12. Sigmatex
11.13. Karborek RCF
11.14. Carbon Fiber Remanufacturing
11.15. SGL Carbon
12.1. Abbreviations
12.2. Bibliography
12.3. Compilation of Expert Insights
12.4. Disclaimer
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