Recycled Carbon Composites Market - Forecast(2024 - 2030)

The recycled carbon composites market size is forecast to reach USD XX million by 2029, after growing at a CAGR of 10.6% during 2024-2029. Growing concerns about environmental sustainability and the need to minimize carbon footprints across numerous industries have led to a growth in the market for recycled carbon composites in recent years. Recycled carbon fibers from end-of-life items or production waste are used in recycled carbon composites, which provide a sustainable substitute for traditional composite materials. While using less energy and waste during production, these composites nonetheless have many of the advantageous qualities of virgin carbon fiber composites. The market for recycled carbon composites is expanding primarily due to the growing focus on environmental sustainability. Businesses in all sectors are searching for strategies to cut back on waste production and their carbon footprint. By recycling carbon fiber waste and lowering the requirement for fresh resources, recycled carbon composites provide a solution. 

Recycling carbon fiber waste from the aerospace and automotive industries has been spearheaded by the UK-based company ELG Carbon Fibre. To integrate recovered carbon fibers into their goods, they have partnered with other manufacturers and made investments to increase their recycling capability. BMW and ELG Carbon Fibre have teamed up to create environmentally friendly ways to recycle leftover carbon fiber from their production processes. The purpose of this partnership is to create a closed-loop method for recycling carbon fiber in the automobile sector. Through a number of programs and laws, the European Union has been aggressively advancing the circular economy and sustainable industrial techniques. With backing from institutions like the European Chemicals Agency (ECHA) and the European Composites Industry Association (EuCIA), efforts are being made to create standards for recovered carbon composites.

The report “Recycled Carbon Composites Market– Forecast (2024-2029)”, by IndustryARC, covers an in-depth analysis of the following segments of the Recycled Carbon Composites market.

By Recycling Method: Mechanical, Thermal, Chemical, Others

By Type: Recycled Thermoset Carbon Composites, Recycled Thermoplastic Carbon Composites, Recycled Hybrid Carbon Fiber Composites, Others

By Application: Automotive, Aerospace, Sporting goods, Renewable Energy, Marine, Others

By Geography:  North America, South America, Europe, Asia-Pacific, RoW

•  All industries are seeing a rise in demand for recycled carbon composites due to the growing focus on environmental sustainability. Ford Motor Company has made plans to integrate recycled carbon fiber components into its automobiles in an effort to lower carbon emissions and improve sustainability. Ford hopes to satisfy consumer demands for environmentally friendly products while upholding high performance requirements by employing recycled materials.

•  The adoption of recycled carbon composites is influenced by regional differences in market dynamics and regulatory frameworks. The Circular Economy Action Plan of the European Union establishes challenging goals for resource efficiency and recycling throughout Europe. Businesses like as Airbus are working with local partners to create cutting-edge carbon fiber waste recycling technology. There are prospects for growth in the recycled carbon composites market as a result of this regional emphasis on sustainability and circularity.

•  The creation of innovative recycled carbon composite materials with improved performance and sustainability is made possible by ongoing technology breakthroughs. Improved mechanical qualities of recycled carbon fiber composites have been introduced by Teijin Limited, a Japanese chemical company, for application in lightweight vehicle components. Teijin wants to establish itself as a pioneer in sustainable material innovation by doing ongoing research and development to meet the changing demands of the automotive sector and other markets.

Mechanical Recycling dominated the Recycled Carbon Composites market in 2023. Mechanical recycling is the process of reducing composite materials into smaller parts by mechanical processes like grinding or shredding without appreciably changing the fibers' chemical makeup. This procedure is preferred over chemical and thermal recycling methods due to its lower costs and higher energy efficiency. Furthermore, carbon fibers retain their mechanical qualities after mechanical recycling, which makes them appropriate for a range of uses. SGL Carbon has declared plans to increase its capacity for recycling waste carbon fiber by investing in cutting-edge mechanical recycling technologies. SGL Carbon wants to fulfill the increasing demand for sustainable carbon fiber solutions in sectors including wind energy, aircraft, and automobiles by improving its mechanical recycling infrastructure.

Recycled thermoset carbon composites dominated the Recycled Carbon Composites market in 2023. Excellent mechanical qualities, including a high strength-to-weight ratio and stiffness, make thermoset carbon composites ideal for demanding applications in the sports equipment, automotive, and aerospace industries. Thermoset carbon composites can be produced effectively and at scale thanks to well-established and optimized manufacturing procedures. Businesses with experience in the production of thermoset composites may readily modify their workflows to include recycled carbon fibers, allowing for the economical creation of sustainable composite materials. Thermoset carbon composites are frequently employed in structural elements and aviation components, for example, where long service life and durability are essential. Because they may be recycled and repurposed into new composite materials, recycled thermoset carbon composites provide an environmentally friendly and sustainable alternative for products that have reached the end of their useful life.

One of the top aerospace companies, Boeing, has made plans to employ more recycled carbon composites while producing new airplanes. Boeing is investigating cutting-edge recycling technology to recover and use carbon fiber waste produced during production operations in partnership with recycling partners. Boeing wants to lessen its material waste and operational environmental impact by using recycled thermoset carbon composites in airplane components.

Automotive dominated the Recycled Carbon Composites market in 2023. For a number of reasons, the automotive sector has accounted for the majority of recycled carbon composites. First off, in order to comply with strict emissions standards, automakers are facing increased pressure to decrease vehicle weight and increase fuel efficiency. Automakers can accomplish these aims while upholding performance and safety regulations thanks to recycled carbon composites, which provide a strong and lightweight substitute for conventional materials like steel and aluminum. Furthermore, the automobile industry has a high volume of manufacturing, which attracts suppliers of recycled carbon composites.

One of the biggest manufacturers in the world, Volkswagen Group, has established strategic alliances with recycling businesses to include recycled carbon composites into its automobile designs. Volkswagen intends to improve efficiency and sustainability by integrating recycled carbon fiber components into its electric vehicles through partnerships with companies like SGL Carbon. This program demonstrates the auto industry's dedication to using recycled materials to solve environmental issues and spur innovation in the production of automobiles.

Europe dominated the Recycled Carbon Composites market in 2023. Due in large part to strict environmental laws and programs supporting the circular economy, Europe has become a market leader for recycled carbon composites. Under the Horizon Europe program, which was introduced by the European Union, research and innovation initiatives centered on recycling technologies and sustainable materials can get funding. In order to provide recycled carbon composite solutions for aerospace applications, businesses such as Airbus are taking use of this support, thus solidifying Europe's standing as a center for sustainable innovation.

Recycled carbon composites are becoming more and more popular as businesses look to minimize their carbon footprint and meet legal standards. This is a result of strict environmental legislation and sustainability programs. Industries are encouraged to prioritize sustainable materials and practices by regulations like the United Nations Sustainable Development Goals and the European Union's Circular Economy Action Plan. Recycled carbon composites are in high demand because they provide a more environmentally friendly option to conventional materials. the launch of the Net Zero Innovation Portfolio by the UK government, which provides funds for R&D initiatives centered on environmentally friendly materials and production techniques. In order to attain net-zero carbon emissions by 2050, this project seeks to expedite the development and use of technologies, such as recycled carbon composites.

Industries looking to cut expenses and increase profitability find recycled carbon composites appealing due to their economic benefits and cost-effectiveness. Because recycled components are frequently less expensive than virgin carbon fiber composites, recycled carbon composites are more affordable. Recycling procedures can also lower the cost of purchasing raw materials and disposing of waste, which improves the recycled carbon composites' economic feasibility. Boeing and ELG Carbon Fibre are working together to create materials made of recycled carbon fiber that can be used in the production of aircraft. Boeing hopes to lower production costs without sacrificing product quality by using recycled materials in its products. This collaboration demonstrates how important industry participants are becoming more aware of the potential cost savings offered by recycled carbon composites.

Overcoming technology constraints related to recycling procedures is one of the main issues facing the industry for recycled carbon composites. Carbon fibers may become less mechanically strong as a result of traditional recycling techniques, which would limit its use in high-performance applications. In order to preserve the quality of recycled carbon fibers, constant research and development efforts are concentrated on refining procedures and upgrading recycling technology. In order to increase the efficacy and efficiency of recycling carbon fiber, researchers are investigating sophisticated sorting methods, chemical treatments, and mechanical procedures.

A US-based business called Carbon Conversions, Inc. recently revealed a development in its carbon fiber composite recycling technique. Their novel method, called pyrolysis, makes it possible to effectively recover premium carbon fibers from items that are nearing the end of their useful lives without sacrificing mechanical performance. This real-time development shows how technological barriers are being overcome and how recycled carbon composites are becoming more sustainable.

Achieving cost competitiveness with virgin carbon fiber composites is a key hurdle as well. When compared to traditional materials, recycled carbon composites typically require more processing steps and quality control procedures, which raises production costs. Widespread adoption may be hampered by this cost barrier, particularly in sectors where costs are crucial. Businesses are putting new ideas into practice to increase recycled carbon composites' cost competitiveness. This entails using economies of scale to lower production costs, streamlining supply networks, and improving manufacturing processes. Research institutes and industry partners are also working together to develop recycling methods that are affordable and to reduce total material costs.

Leading producer of carbon-based materials SGL Carbon has unveiled a cutting-edge cost-cutting plan for recycled carbon composites. Through the implementation of automation technology and process optimization, SGL Carbon has successfully reduced the manufacturing costs of recovered carbon fibers. This real-time development highlights initiatives to improve recycled carbon composites' cost competitiveness and market reach.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Recycled Carbon Composites market. Major players in the Recycled Carbon Composites market are ELG Carbon Fibre, SGL Carbon, Teijin Limited, Carbon Conversions Inc., Cytec Solvay Group, Toray Industries, Inc., Mitsubishi Chemical Corporation, Hexcel Corporation, Covestro AG, and Boeing Company among others.

In September 2023, ELG Carbon Fibre announced the expansion of its carbon fiber recycling capacity with the opening of a new facility in the United States. This development marks a significant milestone in ELG's efforts to address the growing demand for recycled carbon composites in North America and strengthen its position as a leading player in the market.

In December 2023, SGL Carbon unveiled a new recycling technology for carbon fiber composites, named "ReCarb." This innovative process enables the efficient recovery of high-quality carbon fibers from end-of-life products, enhancing the sustainability and cost-effectiveness of recycled carbon composites. SGL Carbon's ReCarb technology represents a breakthrough in carbon fiber recycling and demonstrates the company's commitment to driving innovation in the market.

In March 2024, Teijin Limited announced a strategic partnership with a major automotive manufacturer to develop lightweight components using recycled carbon composites. This collaboration aims to leverage Teijin's expertise in carbon fiber technology and the automotive manufacturer's industry experience to accelerate the adoption of recycled materials in vehicle manufacturing. The partnership underscores Teijin's commitment to advancing sustainable solutions in the automotive sector and driving market growth for recycled carbon composites.