DALLAS, TX / ACCESSWIRE / February 22, 2021 / According to a new market report published by Lucintel, the future of the recycled carbon fiber market looks promising with opportunities in transportation, aerospace, consumer electronics, and sporting goods industries. The recycled carbon fiber market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to grow with a CAGR of 1.8% from 2020 to 2025. The major drivers for this market are regulations for reuse & recyclability of materials and the cost advantage of recycled carbon fiber compared to virgin carbon fiber.
To download report brochure, please go to https://www.lucintel.com/recycled-carbon-fiber-market.aspx and click "report brochure" tab from the menu.
In this market, different types of recycled carbon fiber such as non-woven mats, chopped carbon fiber, and milled carbon fiber are used as product type. Lucintel forecasts that non-woven mats will remain the largest product type and it is also expected to witness the highest growth over the forecast period due to the growing demand for low cost, recycled carbon fiber in structural applications.
Within recycled carbon fiber market, transportation will remain the largest end use industry and it is also expected to witness highest growth over the forecast period due to increasing demand for lightweight, cost effective materials.
Asia Pacific will remain the largest market and it is also expected to witness the highest growth over the forecast period due to the growing demand for high performance materials at a relatively lower cost in transportation, aerospace, sporting goods, and consumer electronics applications.
Emerging trends, which have a direct impact on the dynamics of the recycled carbon fiber industry, include the development of various processes and methods to reduce energy consumption and cost during recycling process. ELG Carbon Fiber Ltd., SGL Group, CFK Valley Recycling, Vartega Inc., Procotex, Toray/Zoltek, and Karborek are among the major recycled carbon fiber manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the recycled carbon fiber market by end use industry, product type, and region and has come up with a comprehensive research report entitled "Growth Opportunities in the Recycled Carbon Fiber Market 2020-2025: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the recycled carbon fiber market by end use industry, product type, and region as follows:
By End Use Industry [Volume (M lbs) and $M shipment analysis from 2014 to 2025]:
- Transportation
- Aerospace
- Consumer Electronics
- Sporting Goods
- Others
By Product Type [Volume (M lbs) and $M shipment analysis from 2014 to 2025]:
- Non Woven Mats
- Chopped Carbon Fiber
- Milled Carbon Fiber
By Region [Volume (M lbs) and $M shipment analysis from 2014 to 2025]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
This 214-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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SOURCE: Lucintel