Recycled Carbon Fiber Market Size (2024 - 2029)

Recycled Carbon Fiber Market Analysis

The Recycled Carbon Fiber Market size is estimated at USD 177.20 million in 2024, and is expected to reach USD 335.98 million by 2029, growing at a CAGR of 13.65% during the forecast period (2024-2029).

• The market was negatively impacted by COVID-19 in 2020 due to disruption in the supply chain. As the pandemic spread, many manufacturing plants involved in the recycling of carbon fiber globally were shut down due to the strict lockdowns. However, the sector has been recovering since restrictions were lifted owing to increased demand from various end-user industries, such as wind energy.
• Over the short term, the rising demand for lightweight vehicles, growing carbon fiber scrap recycling, its increasing reuse in the wind energy sector, and the cost-effectiveness of recycled carbon fiber are some of the factors driving the market demand.
• The availability of various substitutes and supply chain security for recycled carbon fiber are the factors hindering the market's growth.
• Shifting focus toward sustainability, advancement in research and development for recycling techniques, and increasing potential demand from additive manufacturing and 3D printing sectors are likely to create opportunities for the market in the coming years.
• The North American region is expected to dominate the market and is likely to witness the highest CAGR during the forecast period.

Recycled Carbon Fiber Industry Segmentation

Recycled carbon fiber is one of the strongest and lightest materials used to produce a composite material. Recycled carbon fibers offer benefits such as a reduction in the amount of material entering landfills and cost-saving of up to 30% compared to new carbon fiber. The waste generated from carbon fibers during the processing of dry fibers, prepreg scrap sources, and thermoset carbon fiber-reinforced composites is used to make recycled carbon fibers. 

The recycled carbon fiber market is segmented by type, source, end-user industry, and geography. By type, the market is segmented into chopped recycled carbon fiber and milled recycled carbon fiber. By source, the market is segmented into automotive scrap, aerospace scrap, and other sources. By end-User Industry, the market is segmented into automotive, aerospace and defense, wind energy, sporting goods, and other end-user industries. The report also covers the market size and forecasts for the recycled carbon fiber market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).