Recycled Carbon Fiber Market : Global Analysis by Size, Revenue, Company Profiles and Forecast by 2027
Fiber is composed with tiny carbon atoms with high tensile strength, high chemical resistance, high stiffness, high temperature tolerance and low weight. Recycled carbon fiber is widely used in various fields such as Aerospace, Defense, Industrial, Sporting Goods, Marine, Automotive & Transportation, and Consumer Goods. It provides high strength and rigidity compared to other metals.
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Market Drivers
Increase in usage of carbon fiber in various sectors including defense and aerospace is the key driving factor which is expected to boost the global recycled carbon fiber market growth. Furthermore, rise in demand for light weight and fuel efficient vehicles will have the positive impact on market growth. Moreover, increase in product launch activity by key competitors will fuel the market growth. For instance, in January 2020, Sigmatex had launched recycled carbon fiber which is from high quality carbon fiber waste. Also, rise in demand for high performance and cost effective carbon fiber in composite industry which is expected to propel the global carbon fiber market growth.
Market Restraints
However, lack of technical knowledge as well as lack of composite waste availability is the restraining factor which is expected to hamper the growth of recycled carbon fiber market growth. Also, increase in competition with low cost matured products will affect the market growth.
Market Segmentation
Global Recycled Carbon Fiber Market is segmented into source such as Aerospace Scrap, and Automotive Scrap, by type such as Chopped, and Milled. Further, market is segmented into end use such as Aerospace, Defense, Industrial, Sporting Goods, Marine, Automotive & Transportation, and Consumer Goods.
Also, Global Recycled Carbon Fiber Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Market Taxonomy
By Source
- Aerospace Scrap
- Automotive Scrap
By Type
- Chopped
- Milled
By End Use
- Aerospace
- Defense
- Industrial
- Sporting Goods
- Marine
- Automotive & Transportation
- Consumer Goods
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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