CFRP Recycling Market Size, Share, Growth, and Industry Analysis, By Type (Chemical Process and Physical Process), By Application (Aerospace, Sporting Goods, Automobiles, Industrial Use and Others), Regional Forecast to 2027

Updated On: 08 April 2024

REPORT OVERVIEW

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The global CFRP recycling market size was in USD 282 million 2020. As per our research, the CFRP recycling market is expected to reach USD 480.8 million by 2027, exhibiting a CAGR of 7.6% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Carbon Fiber Reinforced Polymer (CFRP) is a strong and lightweight composite material comprised of carbon fibers embedded in a polymer matrix. Because of its excellent strength-to-weight ratio and longevity, it is widely utilized in a variety of industries, including aerospace, automotive, sports equipment, and others. The industry and techniques involved in the recycling and reusing of carbon fiber reinforced polymers are referred to as the CFRP recycling market. As the usage of CFRP in various applications expands, there is rising concern about the environmental impact of disposing of these materials after they reach the end of their useful life. By recovering valuable carbon fibers and minimizing the demand for new raw materials, recycling CFRP can help offset this impact.

Waste materials and used CFRP components are collected and sorted. Manufacturing scrap, end-of-life items, or defective parts are examples of these. The gathered CFRP components are treated to eliminate contaminants and break down the polymer matrix, leaving only the carbon fibers. Carbon fibers that have been recovered are then cleaned and processed to assure their quality and performance. These fibers have the potential to be utilized to create new CFRP materials or other goods. Carbon fibers that have been recycled can be used to make new CFRP products or other composite materials. This eliminates the requirement for raw carbon fibers while also lowering manufacturing's environmental impact. Recycled CFRP materials can be used in a variety of applications, including automobile parts, construction materials, and sports equipment.

COVID-19 Impact: Supply Chain Disruptions to Hinder Market Growth

The CFRP recycling sector, like many other industries, experienced supply chain disruptions. Closures and limitations in various regions hampered the transportation of materials, equipment, and workers, potentially slowing recycling operations. Due to lockdowns and economic uncertainty, many industries that employ CFRP materials, including as aerospace and automotive, saw lower demand. This decrease in output could have resulted in fewer end-of-life CFRP components accessible for recycling. During the epidemic, industries may have switched their attention and resources to more pressing issues, including as employee safety and business survival. This may have led in less focus and investment in sustainability programs such as CFRP recycling.

LATEST TRENDS

"Increased Sustainability Focus to Enhance Market Growth"

Sustainability and environmental responsibility have become more important in all industries. By decreasing the environmental impact of composite materials and supporting circular economy practises, CFRP recycling coincides with these goals. Research and development efforts to produce more efficient and cost-effective recycling processes for CFRP materials are underway. Innovations in recycling processes such as pyrolysis, solvolysis, and chemical recycling offer the potential to improve the process. Industry, academia, and research institutes are increasingly collaborating. Partnerships can help to speed up the development of novel recycling technologies, increase the quality of recycled materials, and solve issues collaboratively.

SEGMENTATION

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• By Type

Based on type market is classified as chemical process and physical process.

• By Application

Based on application market is classified as aerospace, sporting goods, automobiles, industrial use and others.

DRIVING FACTORS

"Sustainability and Environmental Concerns to Augment Market Growth"

As people become increasingly conscious of the environmental impact of non-recycled CFRP trash, industry is looking for more sustainable alternatives. Recycling CFRP materials lessens the need for fresh raw materials while also reducing trash in landfills. Stringent waste management, emissions reduction, and resource conservation regulations and policies incentivize enterprises to embrace recycling practises. Compliance with these standards may encourage the use of CFRP recycling. Recycling CFRP materials can save money over creating new materials from scratch. Recycling's economic feasibility improves as recycling technologies evolve and become more efficient. Environmentally friendly and recycled-materials goods are gaining popularity among consumers and industry. This market incentive encourages producers to utilise recycled CFRP materials into their products.

"Innovation in Recycling Technologies to Propel Market Growth"

Continuous R&D efforts are resulting in breakthroughs in recycling processes for CFRP materials. These improvements improve the quality of recycled fibres while lowering the amount of energy and resources required for recycling. Collaboration among industry, research institutions, and recycling enterprises hastens the development and implementation of efficient recycling systems. Partnerships can help to handle problems more effectively by pooling resources and expertise. In general, recycling CFRP materials uses less energy than creating virgin materials. This decrease in energy use helps to reduce greenhouse gas emissions and the environmental impact. Waste reduction targets are being set by industries as part of their sustainability strategies. Recycling CFRP trash coincides with these goals and helps to achieve circular economy goals.

RESTRAINING FACTORS

"Quality Degradation to Impede Market Expansion"

Establishing recycling facilities and adopting advanced recycling technologies can necessitate a considerable initial expenditure. Initial expenditures can be a hurdle for organisations, particularly smaller enterprises or startups. While CFRP recycling systems have advanced, some are still in the experimental stage or have limits in terms of efficiency, recycled material quality, and scalability. The recycling procedure can sometimes degrade the quality of carbon fibre. Maintaining recycled fibre mechanical qualities at levels comparable to virgin fibres is a difficulty that must be overcome before broad usage. Inconsistencies in the quality of recycled CFRP materials can occur in the absence of standardised recycling methods and quality control measures.

REGIONAL INSIGHTS

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"North America to Dominate the Market Due to Well-Established Aerospace"

Due to well-established aerospace, automotive, and industrial industries, North America has substantial CFRP recycle market share. These sectors generate a significant amount of CFRP trash, necessitating the development of recycling technologies. The emphasis in North America on sustainability and environmental rules has also increased interest in recycling activities. North America has been aggressive in implementing environmentally friendly practises, including the recycling of sophisticated materials such as CFRP. The emphasis on circular economy activities, combined with severe waste management and sustainability requirements, has encouraged the development of CFRP recycling technologies and infrastructure.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Carbon Conversions (U.K.)
• ELG Carbon Fibre (U.K.)
• Karborek (Poland)
• Mitsubishi (CFK Valley Recycling) (Germany)
• JCMA (Japan)
• CRTC (U.S.)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.