Recycled Mobility Materials Market to Reach $3.9B by 2027
According to the latest report titled “Recycled Materials for Mobility Applications Market by Material Type, Vehicle Type, Component, Application, and Region – Global Forecast to 2027”, the market size is projected to grow from USD 2.5 billion in 2022 to USD 3.9 billion by 2027, registering a compound annual growth rate (CAGR) of 8.6%.
Recycled materials are derived from post-consumer waste, manufacturing residues, agricultural byproducts, and industrial scrap, and are used to replace virgin materials in product manufacturing. This definition excludes materials that are reused within the same production cycle.
Key Report Highlights:
- Features 188 data tables, 59 figures, and 237 pages of comprehensive analysis.
- OEMs are anticipated to remain the leading application segment by both volume and value due to growing adoption of recycled composites and polymers in vehicle manufacturing.
- Europe is expected to be the second-largest regional market, fueled by robust policy support and EU recycling targets promoting a circular economy.
Market Drivers:
- Energy efficiency and environmental awareness are key growth drivers. Recycled materials significantly reduce energy consumption compared to the production of virgin materials.
- For instance, recycling plastics from waste consumes far less energy than producing virgin PET or HDPE plastics. This energy saving equates to the annual energy use of 750,000 U.S. homes, with GHG reductions equivalent to taking 360,000 cars off the road.
Key Players:
- Toray Industries (Japan)
- Solvay (Belgium)
- Faurecia (France)
- Continental AG (Germany)
- Neste (Finland)
- Unifi, Celanese, Custom Polymers, Carbon Fiber Recycling (US)
- Procotex (Belgium), SGL Carbon (Germany), Wellman Advanced Materials (US)
The push for sustainable materials in automotive OEMs, coupled with regulatory initiatives in regions like Europe, positions recycled materials as a critical component of the future mobility ecosystem.