Recycled Carbon Fiber Market to Touch USD 310.3 Million in 2030A Story by Pramod AryaThe recycled carbon fiber market was USD 168.3 million in 2022, and it will touch USD 310.3 million, with a CAGR of 7.9%, by 2030.Recycled
carbon fiber is less costly compared to virgin carbon fiber. Endurance,
stiffness, and fatigue, corrosion, and heat resistance are a few beneficial belongings
of the material. Furthermore, it can enable vehicle makers to create low-cost
mass-market e-vehicles and decrease the space and weight necessity of
batteries. Moreover, carbon fiber is greatly employed in producing lightweight
parts like aircraft and spacecraft components, racing vehicle bodies, sailboat
masts, golf club shafts, bicycle frames, fishing rods, car springs, and more. In 2022, the chopped category, based on type, led the
industry, with approximately 70% share, and it is likely to remain leading
throughout this decade. This will be because of the extensive uses of this type
owing to its sustainability as well as cost-savings. In 2022, the aerospace scrap category, based on source, was
the largest contributor to the industry, with approximately 60% share, and it will
remain the largest during this decade. Aerospace scrap is a major viable source
of carbon fibers for reuse. The progression in this category is because this material is
extensively employed in producing fuselages, interior structures, and wings. Additionally,
aerospace-grade carbon fiber offers superior quality. The automotive & transportation category, on the basis
of end user, accounted for a significant share in the past few years. Moreover,
this category will further propel at a 10% CAGR in the coming years. This will
be mainly because of the rising collaboration between rCF producers and
automotive companies. APAC is likely to propel at the fastest compound annual
growth rate in the years to come. This will be mainly because of the rising
funding by governments in infrastructure, coupled with the speedy urbanization,
which continuously boosts the requirement for vehicles. It is because of the continuous progression in the
automotive sector, the recycled carbon fiber industry will continue to grow in
the coming years. © 2024 Pramod Arya |
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Added on February 5, 2024 Last Updated on February 5, 2024 Tags: Recycled Carbon Fiber Market, Trends, Innovations, Applications, Eco-Friendly Composite Materials, Automotive, Aerospace, Market Drivers, Challenges, Opportunities, Manufacturers, Engineers, Industry AuthorPramod AryaNoida, UP, IndiaAboutAbout P&S Intelligence P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plin.. more..Writing
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