The report "Recycled Materials for Mobility Applications Market by Material Type (Polymer Materials, Composites), Vehicle Type (Passenger Cars, Commercial Vehicles), Component, Application (OEMs, Aftermarkets), And Region - Global Forecast to 2027", is expected to grow from USD 2.5 billion in 2022 to USD 3.9 billion by 2027, at a CAGR of 8.6% during the forecasted period. The recycled materials for mobility applications market is witnessing significant growth because of the growing demand from sustainable materials for the development of automotive parts and components.
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Browse 188 market data Tables and 59 Figures spread through 237 Pages and in-depth TOC on "Recycled Materials for Mobility Applications Market by Material Type (Polymer Materials, Composites), Vehicle Type (Passenger Cars, Commercial Vehicles), Component, Application (OEMs, Aftermarkets), And Region - Global Forecast to 2027"
In terms of volume, polymer materials to hold the largest market share during the forecast period
The majority of the recycled plastic polymers found in vehicles are obtained from plastic bottles and caps. Recycled polymers are witnessing a surge in demand from the automotive industry. Recycled materials are increasingly conforming to the standards of the automotive industry and have been in this industry for more than a decade. Recycled polymers are used in many applications, such as automotive fabrics, splash guards, radiator shrouds, and dashboards. Chrysler, Ford, Honda, General Motors, Nissan, and Toyota are some of the major auto manufacturers that use recycled polymers in their vehicles. Recent advancements in recycled materials and recycling technology have resulted in a rapid increase in the use of recycled polymer materials.
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In terms of value and volume, the OEMs application is expected to hold the largest market share during the forecast period
Recycled materials are used in OEMs and aftermarket applications of the automotive sector. The OEMs segment is the major application of recycled materials. Automotive OEMs are searching for more effective and environment-friendly materials for making automotive parts. Recycled composites and polymers materials are widely used in the automotive industry by OEMs. Some OEMs have turned to recycled plastics to create a more sustainable version of the manufacturing-grade material.
Europe is the second-largest region in terms of value during the forecast period
The recycled materials for mobility applications market in Europe has been growing in recent years due to increasing concerns about sustainability and circular economy. The European Union has set ambitious targets to increase the use of recycled materials, and many countries in Europe have implemented policies and regulations to encourage recycling. The polymer recycling market is also growing in Europe, with a focus on increasing the use of recycled plastic polymers in new products. The EU has set a target of recycling 55% of all plastic by 2030, which is driving investment in new recycling technologies and infrastructure.
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The major players active in the market are Toray Industries, Inc., (Japan), Solvay (Belgium), Faurecia (France), Continental AG (Germany), Neste (Finland), Unifi, Inc. (US), Celanese Corporation (US), Custom Polymers, Inc. (US), Procotex (Belgium), Carbon Fiber Recycling (US), SGL Carbon (Germany), and Wellman Advanced Materials (US).
Toray Industries is a worldwide manufacturing, processing, and sales multinational corporation. The company specializes in industrial products which have applications in organic synthetic chemistry, polymer chemistry, and biochemistry. The company is one of the prominent producers of recycled composite materials worldwide and offers recycled carbon fibers, carbon prepregs, carbon fabrics, and molded products. It has manufacturing and research facilities in North America, Latin America, Europe, Africa, and Asia. Toray Industries operates through six business segments: fibers & textiles, performance chemicals, environment & engineering, carbon fiber composite materials, life sciences, and others. The company operates its recycled material and recycled carbon fiber businesses through its carbon fiber composite materials business segment.
The global Recycled PET Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the recycled pet market include PLACON, Clear Path Recycling LLC, Verdeco Recycling, Inc., M Chemicals, Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Phoenix Technologies, Libolon.
These products being highly functional, cost-effective, and often stylish, will be sought after in various applications, from reusable carry bags to roof insulation in the coming years.
Recycled PET gaining traction in the textile industry as a sustainable alternative to polyester will enhance the market growth.
Emerging entrepreneurs looking at recycled PET for insulation, high-quality merchandise, uniforms will be a market booster.
22 May 2019 - The Global Tyre Market Research Report includes In-depth Analysis of industry by recent technologies, trends, opportunities, challenges, key players and business strategies considering types, segment, and future analysis.
The Tyre Market Report Provides Growth History, Sales Channel, Manufacturers Profiled in Tyre Business, Market Share of Product, Application and Regional Scope of Tyre which makes the research report a helpful resource for marketing people, forecasters, industry executives & consultants, sales, product managers, Strategy Advisor, potential investors to understand the present as well as future market size, situations in terms of growth rate and revenue.
This report will help the viewer in Better Decision Making.Leading Key Manufacturers – MRF, JK, Continental, Dunlop, TVS, Kumho, Yokohama, Han kook, Pirelli, SumitomoTo get a free sample request at: https://www.millioninsights.com/industry-reports/tyre-market/request-sampleThe demand for the Tyre is motivated by the development in the means of transportation in practice in emerging provinces.
Similarly, upsurges in regular yearly vehicular traveling distance all over the world, will enhance the replacement percentage of Tyre.Growing earnings in emerging provinces will offshoot development for automobiles in usage, thereby stimulating demand for Tyre.
Greater stages of earnings and increasing financial action will also contribute to upsurges in normal yearly traveling distance of automobile.
This will upsurge replacement proportions.
