Global Recycled Carbon Market Regional Synopsis
APAC Market Forecast
The recycled carbon market in Asia Pacific is expected to dominate largest share of 38% during the forecast period. The region's growing aerospace industry might be linked with the market expansion. For instance, recycled carbon fiber can generate opportunities for the development of new products and technology in the aerospace industry since it can be used to make lightweight spacecraft and aircraft components.
North American Market Statistics
The recycled carbon market in North America is expected to hold a share of 32% by 2037. The market growth can be attributed to the increasing need for recycled carbon in the automotive sector. Recycled carbon is more in demand in the automotive industry as a result of the region's demand for lightweight automotive materials. According to a report, 75% of Americans had access to a personal vehicle as of March 2023, and another 20% had a work or family vehicle.
