Market Dynamics
Introduction
Recycling materials is also getting attention in mobility products, where automobiles, automotive parts, and components utilize recycled products. Recycled materials can be used in mobility applications with many advantages, such as environmental conservation, saving energy, and cutting costs. Recycling materials has been on the rise in the mobility industry due to the increased awareness of society and companies as to the consequences of their actions on the environment.
Recent Product Development:
- In March 2022, Faurecia, a company of the Group FORVIA, and Veolia signed a cooperation and research agreement to jointly develop innovative compounds for automotive interior modules, aiming to achieve an average of 30% of recycled content by 2025. Through this partnership, the two companies will accelerate the deployment of breakthrough sustainable interior solutions implemented in instrument panels, door panels, and center consoles in Europe. Veolia will start the production of these secondary raw materials at its existing recycling sites in France starting from 2023.
- In November 2020, SGL Carbon and Koller Kunststofftechnik partnered to manufacture novel recycled carbon fiber profiles for windshields for a future high-volume model of the BMW Group. This helped SGL Carbon improve its automobile product applications and increase the demand for recycled carbon fiber.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Segments with High-Growth Opportunity
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Material Type Analysis
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Polymer Materials and Composites
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Polymer Materials is expected to be the demand generator in the market in the coming years.
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Vehicle -Type Analysis
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Passenger Cars and Commercial Vehicles
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Passenger Cars are anticipated to contribute the largest share of the market.
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Component -Type Analysis
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Interiors, Exteriors, and Other
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Interiors is anticipated to contribute the largest share of the market.
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Application -Type Analysis
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OEMs and Aftermarkets
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OEMs are anticipated to contribute the largest share of the market.
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Region Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific is expected to maintain its reign over the forecast period.
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By Material Type
“Polymer Materials is expected to be the demand generator in the market in the coming years.”
Polymer materials can be identified as the leaders in the consumption of recycled materials within the mobility industry, mainly because of such features as lightweight, corrosion resistance, and usage in car components, interior elements, bumpers, and other parts installed under the car hood. They help to decrease the overall weight of the vehicles, which in turn increases fuel economy and decreases emissions.
Moreover, polymers such as polypropylene and PET are easily recyclable and affordable, and are easily sourced, which makes them very attractive to the manufacturers who are in a constant search for excellent-performing and eco-friendly materials.
By Vehicle Type
“Passenger Cars is anticipated to contribute the largest share of the market.”
This is because passenger cars are one of the most-produced vehicle types and have a steadily increasing demand as a means of mobility in developed and developing countries alike. Manufacturers of automobiles are using recycled materials in their industries to improve sustainability, cut down expenses, and follow the regulations on the environment.
Also, due to the shortening of the lives of vehicles, frequent upgrade of models, and turnover, thereby resulting in increased generation of materials that can be recycled, this segment had higher recycling figures.
By Component Type
“Interiors are anticipated to contribute the largest share of the market.”
Among these components, interiors hold the largest share of the recycled materials for mobility applications due to their extensive surface area and compatibility with most recycled plastics, fabrics, and composites. Automakers explore using lightweight materials in car interiors in their bid to use lighter materials in other parts of the car to achieve their sustainability objectives without sacri?cing the structural integrity of automobiles. Thus, consumers are willing to spend more money on ecological and beautiful interiors, so it remains one of the priorities for recycled content in vehicles.
By Application Type
“OEMs are anticipated to contribute the largest share of the market.”
OEMs have the largest share of the market for application type in the recycled materials for mobility applications because they are involved in vehicle manufacturing and development, hence have the capability of incorporating recycled materials from the ground up. Due to the above factors, policies, costs, and sustainability objectives, OEMs utilize recycled plastics, metals, and composites to achieve emissions and satisfy consumers’ demand for green vehicles, making them pivotal in the market.
Regional Analysis
“Asia-Pacific is expected to maintain its reign over the forecast period.”
Asia Pacific has the largest market share of recyclable materials for mobility applications since it holds many manufacturing industries, especially those in China, which are the leading producers and consumers of recyclable materials. Low-cost labor, its vast population means there is a large demand, and increased government encouragement of sustainability. A push comes from the ever-increasing population and industrialization, which in turn necessitates recycled content in the automotive and transportation industries.
Key Players
The market is highly fragmented, with over 500 players. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the recycled materials for mobility applications market.
Here is the list of the Top Players (Based on Dominance)
- Toray Industries, Inc.
- Solvay
- Faurecia
- Continental Ag
- Neste
- Unifi, Inc.
- Celanese Corporation
- Custom Polymers, Inc.
- Procotex
- Carbon Conversions
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global recycled materials for mobility applications market is segmented into the following categories.
Recycled Materials for Mobility Applications Market, by Material Type
- Polymer Materials (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Composites (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Recycled Materials for Mobility Applications Market by Vehicle Type
- Passenger Cars (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Commercial Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Recycled Materials for Mobility Applications Market by Component Type
- Interiors (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Exteriors (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Recycled Materials for Mobility Applications Market by Application Type
- OEMs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Aftermarkets (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Recycled Materials for Mobility Applications Market by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Customization Options
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Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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