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North America Green Carbon Fiber Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Chopper Recycled Carbon Fiber and Milled Recycled Carbon Fiber), Source (Automotive Scrap, Aerospace Scrap, and Others), and Application (Aerospace, Automotive, Wind Energy, Sporting Goods, and Others)

May 2023 | 104 pages | ID: NEFBF865A803EN
The Insight Partners

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The North America green carbon fiber market was valued at US$ 41.85 million in 2022 and is expected to reach US$ 82.10 million by 2028. It is estimated to register a CAGR of 11.9% from 2022 to 2028.

Increase in Use of Green Carbon Fiber in Wind Energy Industry in North America Green Carbon Fiber Market

The demand for wind turbines is increasing rapidly as the world shifts away from climate-damaging, nonrenewable fossil fuels toward clean, renewable energy sources. Also, the rising electricity rate is pushing the need for renewable energy sources. The wind energy market is growing as governments are taking initiatives to produce renewable energy. Increase in demand for renewable energy sources, especially wind energy, and efforts to reduce the dependence on fossil fuel-based power generation are significant factors for the growth of the wind energy market. Governments provide many tax benefits and incentives, which are helping reduce the components' prices, thereby boosting the growth of the wind turbine market. Polymers reinforced with virgin carbon fibers (VCF) are being used to make spar caps of wind turbine blades, and polymers with glass fibers are used to make skins of the blade components. Using recycled carbon fibers for wind turbine blade parts can be mechanically feasible and offer significant environmental benefits over glass fibers. These characteristic properties of carbon fiber have helped in producing better wind blade turbines and higher energy production. Therefore, the increasing use of green carbon fibers in the wind energy industry is propelling the North America green carbon fiber market growth.

North America Green Carbon Fiber Market Overview

The North America green carbon fiber market is segmented into the US, Canada, and Mexico. The rising demand for green or recycled carbon fiber, especially across the aerospace industry in the region, is significantly driving the market growth. Carbon fiber is used in aerospace applications to fabricate engine blades, brackets, interior components, propellers/rotors, single aisle wings, and wide-body wings. According to the Federal Aviation Administration (FAA), in 2020, the number of aircraft in the US commercial fleet accounted for 5,882, registering a decline rate of 22.9% compared to 2019. However, the commercial fleet is projected to reach 8,756 by 2041, with an average annual growth rate of 2% annually. This is expected to boost the demand for carbon fiber from multiple applications in the aerospace industry. However, with increasing environmental concerns, aircraft manufacturers are looking for sustainability in carbon fiber and investing more in recycling carbon fibers. The region is a hub for major aircraft manufacturing companies such as Raytheon Technologies Corporation, Boeing Company, and Lockheed Martin Corporation.

North America Green Carbon Fiber market Revenue and Forecast to 2028 (US$ Million)

North America Green Carbon Fiber market Segmentation

The North America green carbon fiber market is segmented on the basis of type, source, application, and country. On the basis of type, the North America green carbon fiber market is segmented into chopped recycled carbon fiber and milled recycled carbon fiber. The milled recycled carbon fiber segment registered the largest market share in 2022.

Based on source, the North America green carbon fiber market is further segmented into automotive scrap, aerospace scrap, and others. The automotive scrap segment registered the largest market share in 2022.

Based on application, the North America green carbon fiber market is further segmented into aerospace, automotive, wind energy, sporting goods, and others. The wind energy segment registered the largest market share in 2022.

Based on country, the North America green carbon fiber market is segmented into US, Canada, and Mexico. US dominated the market share in 2022.

Carbon Conversions Co, Catack-H Co Ltd, Procotex Corp SA, SGL Carbon SE, Shocker Composites LLC, Sigmatex (UK) Ltd, Toray Industries Inc, and Vartega Inc. are the leading companies operating in the North America green carbon fiber market.
1. INTRODUCTION

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Green Carbon Fiber Market – By Type
1.3.2 North America Green Carbon Fiber Market – By Source
1.3.3 North America Green Carbon Fiber Market – By Application
1.3.4 North America Green Carbon Fiber Market – By Country

2. KEY TAKEAWAYS


3. RESEARCH METHODOLOGY

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. NORTH AMERICA GREEN CARBON FIBER MARKET LANDSCAPE

4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Suppliers:
4.2.3 Bargaining Power of Buyers:
4.2.4 Intensity of Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinions

5. NORTH AMERICA GREEN CARBON FIBER MARKET – KEY INDUSTRY DYNAMICS

5.1 Market Drivers
5.1.1 Benefits of Green Carbon Fiber
5.1.2 Increase in Use of Green Carbon Fiber in Wind Energy Industry
5.2 Market Restraints
5.2.1 Scarcity of Composite Waste and Lack of Technical Expertise in Recycling Carbon Fiber
5.3 Market Opportunities
5.3.1 Key Strategic Developments by Green Carbon Fiber Manufacturers
5.4 Future Trends
5.4.1 Rising Popularity of Electric Cars and Increasing Use of Green Carbon Fiber in EVs
5.5 Impact Analysis

6. GREEN CARBON FIBER – NORTH AMERICA MARKET ANALYSIS

6.1 North America Green Carbon Fiber Market Forecast and Analysis

7. NORTH AMERICA GREEN CARBON FIBER MARKET ANALYSIS – BY TYPE

7.1 Overview
7.2 North America Green Carbon Fiber Market, By Type (2021 and 2028)
7.3 Chopped Recycled Carbon Fiber
7.3.1 Overview
7.3.2 Chopped Recycled Carbon Fiber: Green Carbon Fiber Market – Volume and Forecast to 2028 (Kilo Tons)
7.3.3 Chopped Recycled Carbon Fiber: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Milled Recycled Carbon Fiber
7.4.1 Overview
7.4.2 Milled Recycled Carbon Fiber: Green Carbon Fiber Market – Volume and Forecast to 2028 (Kilo Tons)
7.4.3 Milled Recycled Carbon Fiber: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)

8. NORTH AMERICA GREEN CARBON FIBER MARKET ANALYSIS – BY SOURCE

8.1 Overview
8.2 North America Green Carbon Fiber Market, By Source (2021 and 2028)
8.3 Automotive Scrap
8.3.1 Overview
8.3.2 Automotive Scrap: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Aerospace Scrap
8.4.1 Overview
8.4.2 Aerospace Scrap: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)

9. NORTH AMERICA GREEN CARBON FIBER MARKET ANALYSIS – BY APPLICATION

9.1 Overview
9.2 North America Green Carbon Fiber Market, By Application (2021 and 2028)
9.3 Aerospace
9.3.1 Overview
9.3.2 Aerospace: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Wind Energy
9.5.1 Overview
9.5.2 Wind Energy: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Sporting Goods
9.6.1 Overview
9.6.2 Sporting Goods: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Green Carbon Fiber Market – Revenue and Forecast to 2028 (US$ Million)

10. NORTH AMERICA GREEN CARBON FIBER MARKET – COUNTRY ANALYSIS

10.1 Overview
10.1.1 North America: Green Carbon Fiber Market, by Key Country
10.1.1.1 US: Green Carbon Fiber Market –Volume and Forecast to 2028 (Kilo Tons)
10.1.1.2 US: Green Carbon Fiber Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 US: Green Carbon Fiber Market, by Type
10.1.1.2.2 US: Green Carbon Fiber Market, by Type
10.1.1.2.3 US: Green Carbon Fiber Market, by Source
10.1.1.2.4 US: Green Carbon Fiber Market, by Application
10.1.1.3 Canada: Green Carbon Fiber Market–Volume and Forecast to 2028 (Kilo Tons)
10.1.1.4 Canada: Green Carbon Fiber Market–Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Canada: Green Carbon Fiber Market, by Type
10.1.1.4.2 Canada: Green Carbon Fiber Market, by Type
10.1.1.4.3 Canada: Green Carbon Fiber Market, by Source
10.1.1.4.4 Canada: Green Carbon Fiber Market, by Application
10.1.1.5 Mexico: Green Carbon Fiber Market–Volume and Forecast to 2028 (Kilo Tons)
10.1.1.6 Mexico: Green Carbon Fiber Market–Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Mexico: Green Carbon Fiber Market, by Type
10.1.1.6.2 Mexico: Green Carbon Fiber Market, by Type
10.1.1.6.3 Mexico: Green Carbon Fiber Market, by Source
10.1.1.6.4 Mexico: Green Carbon Fiber Market, by Application

11. INDUSTRY LANDSCAPE

11.1 Overview
11.2 New Product Development
11.3 Partnerships
11.4 Other Business Strategies

12. COMPANY PROFILES

12.1 Procotex Corp SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Vartega Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Sigmatex (UK) Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Shocker Composites LLC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Carbon Conversions Co
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 SGL Carbon SE
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Toray Industries Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Catack-H Co Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments

13. APPENDIX

13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES

Table 1. North America Green Carbon Fiber Market Revenue Forecast to 2028 (US$ Mn)
Table 2. US Green Carbon Fiber Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 3. US Green Carbon Fiber Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US Green Carbon Fiber Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 5. US Green Carbon Fiber Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Green Carbon Fiber Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 7. Canada: Green Carbon Fiber Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Green Carbon Fiber Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Green Carbon Fiber Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Green Carbon Fiber Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 11. Mexico Green Carbon Fiber Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico Green Carbon Fiber Market, by Source – Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico Green Carbon Fiber Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Glossary of Terms, North America Green Carbon Fibers Market

LIST OF FIGURES

Figure 1. North America Green Carbon Fiber Market Segmentation
Figure 2. North America Green Carbon Fiber Market Segmentation – By Country
Figure 3. North America Green Carbon Fiber Market Overview
Figure 4. North America Carbon Fiber Market, by Type
Figure 5. North America Green Carbon Fiber Market, by Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Green Carbon Fiber Market Ecosystem
Figure 8. Expert Opinion
Figure 9. North America Green Carbon Fiber Market Impact Analysis of Drivers and Restraints
Figure 10. North America Green Carbon Fiber Market Forecast and Analysis, 2020–2028 (US$ Mn)
Figure 11. North America Green Carbon Fiber Market Revenue Share, By Type (2021 and 2028)
Figure 12. Chopped Recycled Carbon Fiber: North America Green Carbon Fiber Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 13. Chopped Recycled Carbon Fiber: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. Milled Recycled Carbon Fiber: North America Green Carbon Fiber Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 15. Milled Recycled Carbon Fiber: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. North America Green Carbon Fiber Market Revenue Share, By Source (2021 and 2028)
Figure 17. Automotive Scrap: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Aerospace Scrap: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. Others: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20. North America Green Carbon Fiber Market Revenue Share, By Application (2021 and 2028)
Figure 21. Aerospace: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. Automotive: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 23. Wind Energy: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 24. Sporting Goods: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Others: North America Green Carbon Fiber Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26. North America: Green Carbon Fiber Market, by Key Country – Revenue (2021) (US$ Million)
Figure 27. North America: Green Carbon Fiber Market Revenue Share, by Key Country (2021 and 2028)
Figure 28. US: Green Carbon Fiber Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 29. US: Green Carbon Fiber Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30. Canada: Green Carbon Fiber Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 31. Canada: Green Carbon Fiber Market–Revenue and Forecast to 2028 (US$ Million)
Figure 32. Mexico: Green Carbon Fiber Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 33. Mexico: Green Carbon Fiber Market–Revenue and Forecast to 2028 (US$ Million)


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