Europe Dominated the Recycled Carbon Fiber The size of the recycled carbon fiber market will power at a compound annual growth rate of 7.9% during 2022-2030, to touch a value of USD 310.3 million by 2030.
The cost of recycled carbon fiber is lower than virgin carbon fiber. Stiffness, endurance, heat, fatigue, and corrosion resistance are some of the beneficial properties of this material. It helps automakers to produce low-cost mass-market electric vehicles, as well as reduce the weight and space requirement for batteries.
Recycled carbon fiber composites are highly malleable and can be molded into any shape. Major automotive manufacturers like BMW and Volvo, are heavily investing on this malleable material to produce premium and luxury vehicles.
The automotive industry is using more recycled carbon fiber than before because of increase in the usage of the technologies such as, non-destructive testing and composite recycling. This is due to auto parts made with this material can help in reducing energy and fuel consumption and increase the safety of vehicles as well.
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The U.S. Department of Energy's Vehicle Technologies have discovered that integrating bio-based epoxies and an anhydride hardener into carbon fiber components can develop an entirely recyclable material.
The advancement in manufacturing processes have led to the production of materials that will meet the specific performance requirements, therefore allowing manufacturers to use it to their products without compromising the quality and performance.
The chopped carbon fiber category accounted for approximately 70% share in the industry and it will maintain its dominance in the future as well. This is owing to the heavy consumption of this variant because of its affordability and sustainability.