The growing demand for recycled carbon fiber obtained from aerospace and automotive scrap is used in the production of cost-effective and lightweight materials in various end-use industries. High costs of production implementation are hindering the market’s growth. Shifting focus towards the development of low-cost products and technologies is likely to act as an opportunity in the future. North America region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
The increasing use of carbon fibers in aerospace industries, as well as the increased production of scrap materials containing carbon fibers, generally requires the development of new safe, and sustainable methods for recovering similar materials. Recycled Carbon-fiber has replaced aluminum in aircraft to improve fuel economy. Lightweight materials and structures allow military aircraft to carry more fuel and payload while in commercial aircraft, these advancements would primarily benefit lower operating costs through improved fuel efficiency.
Lightweight materials are used to reduce greenhouse gas emissions, and the amount of waste sent to landfills. For example, The Boeing 787 was made 20% lighter and increased the fuel economy by 10-12%. In the case of the Boeing 787-9, which consumes approximately 5,400 liters of fuel per hour, and a 10% improvement in fuel economy.