Global recycling and EV battery material markets projected for significant growth

The global carbon fiber and composites recycling market is expected to expand from 607 million USD in 2025 to 4.53 billion USD by 2035, according to Astute Analytica Pvt Ltd. This represents a compound annual growth rate (CAGR) of 22.4 percent. The growth is driven by the need for resource circulation, waste reduction in manufacturing, and the reuse of high-performance materials such as carbon fiber reinforced polymers (CFRP).

Separately, the electric vehicle (EV) battery cell and pack materials market is forecasted to nearly double, growing from 19.14 billion USD in 2025 to 38.02 billion USD by 2030. This growth, at a CAGR of 14.7 percent, is fueled by the demand for longer driving ranges, faster charging, and the commercialization of solid-state batteries. Key components driving this sector include cathode and anode materials, electrolytes, separators, and thermal management materials.