Market Size of Recycled Carbon Fiber Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 177.20 Million |
| Market Size (2029) | USD 335.98 Million |
| CAGR (2024 - 2029) | 13.65 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
