In terms of revenue, global CFRP recycle market in 2018 stood at USD XX million and is expected to reach USD XX million by 2026 growing at a CAGR of 12.10% from 2019 to 2026.
Some of the global major players operating in the CFRP recycle market include: Carbon Conversions, ELG Carbon Fibre, Adherent Technologies, Inc., Hadeg Recycling GmbH, Procotex and Others.
Drivers for the Global CFRP Recycle Market:
Increasing vehicle registrations across the globe due to increasing disposable income is playing a vital role in the industry growth. However, high penetration of auto finance companies, with easier leasing and credit availability are fueling the automobile ownership growth. While rushing demand for automobiles especially in developing economies, rapid urbanization, increasing disposable income, and high purchasing power are creating a positive impact in the automotive market. Further, increasing the adoption of air plasma and high-velocity oxygen fuel (HVOF) technologies in automotive and aerospace applications is expected to drive product demand in these sectors. Hence, development in the automobile sector is the major driver responsible for the growth of the CFRP Recycle market.
Opportunities for the Global CFRP Recycle Market:
Due to rapid urbanization & population growth, demand for the automobile sector & sports equipment are increasing. Hence Manufacturers are facing issues to control the supply of raw material used in the production of automobile equipment due to finite expenses of metals. This results in, manufacturers' and customer’s approaches to the recycling of CFRP and this creates a huge opportunity for the CFRP recycle market in future prospects. While the CFRP is lightweight plastic as compared to heavy sports goods, the lightweight variants take less energy and offer added benefits to sportsperson which is fueling this market & will continue to do so in the future.
Restrains for the Global CFRP Recycle Market:
Due to increasing processing raw material costs and stringent environmental regulations along with high set up costs for equipment and installation can hamper its usage especially in developing countries. All these factors are creating a negative impact on this market & can hamper the CFRP recycle market. In addition to this, China’s shift from a manufacturing and export-led economy to one based on domestic consumption has been a key trigger. However, rolling data flows are expected to drive demand-based localized manufacturing, which will lead to a further decline in global trade. These factors will hamper the growth of the CFRP Recycle market.
Region Wise, Global CFRP Recycle Market Analysis:
Region wise, global CFRP Recycle market can be segmented into North America, South America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global CFRP Recycle market share which is followed by the South America and Europe.
While the Asia Pacific leads the global CFRP Recycle market due to increasing demand for fuel-efficient and lightweight vehicles as well as accelerating usage in the aerospace and defense sector along with increasing usage of renewable energy. However, rushing demand for automobiles especially in developing economies of this region such as India & china along with rapid urbanization, increasing disposable income, and high purchasing power are the reasons for the high growth of this market segment in this region.
Global CFRP Recycle Market: Product analysis
- Chemical Process
- Physical Process
Global CFRP Recycle Market: Application analysis
- Industrial Use
- Sporting Goods
Global CFRP Recycle Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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