World News: 13:03 GMT Tuesday 3rd December 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The global recycled carbon fiber market is expected to grow at a CAGR of 13.1% from 2019 to 2024.
The future of the recycled carbon fiber market looks promising with opportunities in transportation, aerospace, consumer electronics, and sporting goods industries. 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.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 the recycling process.
The analyst 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 the recycled carbon fiber market, transportation will remain the largest end-use industry and it is also expected to witness the highest growth over the forecast period due to increasing demand for lightweight, cost-effective materials.The 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.
ELG Carbon Fiber Ltd., SGL Group, CFK Valley Recycling, Vartega Inc., Procotex, Toray/Zoltek, and Karborek are among the major suppliers of recycled carbon fiber.
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Globe Newswire: 13:03 GMT Tuesday 3rd December 2019
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