Solvolysis and pyrolysis processes are majorly used in the manufacturing of recycled carbon-fibers. Over the past few years, solvolysis becomes the popular production method for recycle carbon fibers as it consumes less energy and helps to produce high-quality recycled carbon fiber. Because of its superior advantages such as light weight, energy efficiency , environmental protection and cost-effectiveness, the market for recycled carbon is likely to increase at a significant rate. Increased use of lightweight materials to reduce the carbon footprint in major end-use industries such as automotive and aerospace is expected to drive market growth at a substantial rate. Additionally, increasing amount of waste followed by recycling goals by European legislations are expected to further increase market concentration of recycled carbon-fibers over the coming years. Moreover, increasing adoption in different sporting products, such as snowboards, racquets, and hockey sticks, is expected to open new opportunities for the market over the coming years.

Type Segment

Based on types, the recycled carbon-fibers market is segmented as chopped and milled. Chopped recycled carbon fibers dominated the recycled carbon-fibers market in 2019 and is expected to be the fastest growing type over the forecast period. High performance as compared to milled recycled carbon-fibers, dimensional stability, high strength, low thermal expansion, and low density properties are further expected to increase chopped recycled carbon fibers market concentration over the coming years.

Source Segment

Based on source, the recycled carbon-fibers market is segmented as aerospace scrap and automotive scrap. Aerospace scrap is increasingly used in access panels, airframe clips, aerospace interior parts, system brackets, and small components. Increasing government initiatives to reduce the waste are expected to increase aerospace scrap utilization in manufacturing recycled carbon-fibers over the coming years. For instance, Clean Sky 2 Joint Undertaking, funded by European Union’s Horizon 2020 Programme are prompting research & development to increase utilization of aerospace scrap.

End User Segment

Based on end user, the recycled carbon-fibers market is segmented as aerospace, automotive & transportation, consumer goods, and others. Other applications include marine, industrial, and electronics. Automotive & transportation end user dominated the recycled carbon-fibers market in 2019. High tensile strength, high mechanical properties, and increasing government regulations regarding environmentally friendly materials are expected to open new opportunities for recycled carbon-fibers industry over the forecast period.

In terms of geography, Europe accounted for majority of the market share in 2019. The market growth in this region is mostly ascribed to well-developed automotive & transportation and aerospace & defense industry in Germany, UK, Spain, Italy, France, and Scandinavia. Technological advancement in composite technology coupled with increasing adoption of composites in renewables, construction & infrastructure, pipe & tank, and marine industry is expected to further increase market concentration over the forecast period.

Leading companies engaged in recycled carbon-fibers market are ELG Carbon Fibre Ltd., Vartega Inc., Toray Industries, Inc., Carbon Fiber Remanufacturing, SGL Carbon, Alpha Recyclage Composites, Carbon Conversions Inc., Procotex Corporation SA , Carbon Fiber Recycling, Inc., and Shocker Composites LLC. Other companies operating in this market are CFK Valley Stade Recycling GmbH & Co Kg, Elevated Materials, Karborek Recycling Carbon Fibers, Sigmatex, Carbon Fiber Recycle Industry Co., Ltd., V-Carbon, Catech H, Hitachi Chemical Company, Ltd., and Rymyc. Key companies present in the market are adopting new product development, technological advancement, research & development, investment, merger & acquisition, and partnerships to form strategies in order to stay competitive in the industry and strengthen their distribution network in order to increase their customer base.