Recycled Carbon Market Trends

Growth Drivers

• Increasing Demand for Sustainable Products - Customers are actively looking for sustainable products as they become more conscious of their carbon footprints. Additionally, as carbon recycling enables companies to make sustainable goods and lower their carbon emissions, there is a growing demand for carbon-recovery materials. As per a report, in the past five years, there have been more than 70% more global online searches for sustainable products.
• Growing Demand for Electronic Devices –The demand for recycled carbon is increasing due to the increased need for electronic equipment. Additionally, using recycled carbon in electricity has the potential to reduce the carbon footprint of the sector, which is anticipated to fuel recycled carbon market expansion.
• Increasing Use in Aerospace Sector – Since carbon fibers are widely utilized in high-performance applications, such as the aerospace industry, the market is likely to expand at a rapid rate. In terms of sales value, the U.S. market contributed over 89 billion dollars to aerospace exports in 2021, making it the largest exporter. Additionally, the nation is home to some of the top aircraft producers in the world, including Boeing and Raytheon.

Challenges

• Usage of Virgin Carbon Fibers – One of the key elements projected to hinder market growth is the rising desire for virgin carbon fibers. For instance, because recycled carbon fibers are weaker than virgin carbon fiber in the automotive and aerospace industries, manufacturers prefer to use virgin carbon fiber.
• Scarcity of Qualified Professionals to Recycle Carbon
• High-Cost Associated with the Product