[236 Pages Report] According to FMI, the global recycled carbon fiber market is estimated to value around US$ 54.9 million in 2022, registering a Y-O-Y growth of 11.0%. Recycled carbon fiber sales are projected to increase at a healthy CAGR of 12.3% by 2032. The increasing usage and demand for recycled carbon fiber in the automotive & transportation industries is a key factor driving the global demand.
| Attribute | Details |
|---|---|
| Base Year Value (2021A) | US$ 49.5 million |
| Estimated Year Value (2022E) | US$ 54.9 million |
| Projected Year Value (2032F) | US$ 174.7 million |
| Value CAGR (2022 to 2032) | 12.3% |
| Collective Value Share: Top 3 Countries Worldwide (2022E) | 41.2% |
Europe remains a prominent market owing to significant strategies in waste management and a growing focus on a circular economy. Market participants in Europe are focusing on decreasing greenhouse gas emissions and are tilting their focus toward green technology. All these have been attributed to the dominance of Europe in the global market of recycled fiber.
According to the latest research published by Future Market Insights, global recycled carbon fiber demand is anticipated to hold ~2-5% of the market share in overall carbon fiber consumption.
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The demand for recycled carbon fiber grew at a 9.8% CAGR between 2017 and 2021. The recycled carbon fiber market is in its infancy stage and has gained traction due to the awareness of its end uses. Growing focus on environmental regulations as well as the dumping duty has prompted carbon fiber manufacturers to recycle carbon fiber.
The demand for recycled carbon fiber is expected to increase during the assessment period and is further expected to witness a significant growth rate of 12.3% in the same period. The use of recycled carbon fiber in automotive and transportation, sporting goods, industrial applications, and increased regulation towards the environment, prompting the circular economy, is expected to uplift the consumption of recycled carbon fiber.
The market for recycled carbon fiber is notably being driven by the automotive and transportation sectors. The use of recycled carbon fiber helps address the issue of reducing the overall vehicle weight. Vehicles that are more fuel-efficient have been made possible by recycled carbon fiber. Manufacturers use recycled carbon fiber because of its great properties to reduce component downtime and extend the life of their products.
Numerous cars and trucks, some of which are manufactured from recycled carbon fiber, have been released by major manufacturers. The BMW Company uses recycled carbon fiber in vehicle parts like the roof. Additionally, composite floor panels, composite tailgates, and composite front benders all make use of recycled carbon fiber. Recycled carbon fiber is being used as a result of a demand for lighter vehicles.
According to FMI, the automotive & transportation segment is expected to grow at a robust CAGR of 12.7% during the forecast period.
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According to EU law, the automotive industry should recycle 85% of its waste generation. Recovery of CF trash and the creation of new goods using less energy than 10% of that required to create the CF initially can help meet legislative and sustainability goals. Recycled Carbon Fiber aids in lowering greenhouse emissions by using less fuel because it is used to make lighter automotive bodywork.
With the awareness of a sustainable environment and increasing landfilling costs, many end users are consuming recycled carbon fiber due to its high value and low cost. Several manufacturers are offering recycled carbon fiber, which can be reintroduced in the process. Meanwhile, a collaboration between manufacturers and researchers has aided in the recovery and reuse of carbon fibers, reintroducing them into the circular economy.
The major objective of the cost proposal is to reduce the cost of lightweight carbon fiber composites by 50%. As compared to virgin industrial fiber, the cost of the fiber is typically 30 to 40% less expensive. In light of this, recycled fiber can provide weight-saving benefits comparable to those of virgin fiber at a significantly reduced cost, making it suitable for sporting goods. Carbon fiber from recycled sources is replacing old hardwood sporting equipment.
The Carbon Fiber Circular Demonstration Project was initiated, focusing on recycling carbon fiber from the sports equipment industry. Fibers from worn-out or damaged carbon fiber components used in sporting goods are recovered and realigned into prepreg tapes. The tapes will be returned to the alliance's producers, who will use the material in brand-new sporting products. According to preliminary demonstration data, the new carbon fiber tape occasionally performs better than the original virgin fiber.
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Aviation scrap generation could be a substantial source of recyclable materials. An emerging trend in aviation is the use of thermoplastic composites, which can allow for recycling and the use of used carbon fiber. Given that numerous thermoplastic composite materials are already employed in the manufacture of airplanes, the required technology and equipment are easily accessible. In contrast, it is anticipated that between 6000 and 8000 commercial airplanes will reach the end of their useful lives by 2030.
At that time, they will be disassembled and their high-grade carbon fiber components can be recycled. A number of initiatives have shown that it is possible to make high-quality thermoplastic composites using recycled carbon fiber in a way that is both practical and affordable for the environment.
In a project to look at costs over the course of the material's whole life cycle, the Dutch companies Fokker, Toray, and others with knowledge of design, processing, and recycling took part. It was discovered that using recycled carbon fiber is financially advantageous. Numerous projects are currently underway to investigate the use of recycled carbon fiber in the aviation industry and are expected to open up new prospects for use.
The growth of the recycled carbon fiber market is being restricted by a lack of technical expertise. Many carbon fiber consumers believe that recycled carbon fiber falls short of virgin carbon fiber in quality. Recycled carbon fiber's mechanical characteristics and processing attributes are not well understood.
The proper processing technology must be used for the recycled carbon fiber to be of the same quality as virgin carbon fiber. Many recyclers lack a thorough technical understanding of process standardization.
The USA is expected to remain one of the leading markets in North America for Recycled Carbon Fiber. The USA market is expected to reach about US$ 43.0 million by the end of the forecast period and has a percentage share of 88.3% for the Recycled Carbon Fiber market in North America.
The increasing number of new entrants in the country such as Vartega, Mallinda, and others are promoting the usage and technical advantages of recycled carbon fiber. Over the forecast period, rising trends to minimize carbon emissions and increasing use of recycled carbon fiber in the automotive industry are anticipated to propel recycled carbon fiber market expansion.
In an effort to reach its 2030 carbon emissions peak and achieve carbon neutrality by 2060, China seeks to recycle 25% of its textile waste and produce 2 million tonnes of recycled fiber by 2025, according to a document jointly released by the National Development and Reform Commission (NDRC). The country is supporting low-carbon, environmentally friendly textile production; expanding China's recycling infrastructure; and maximizing the use of textile waste. By 2030, it is also anticipated that manufacturers and consumers will have a much-increased understanding of the value of recycling.
The recycled carbon fiber market in China is expected to create a dollar opportunity of US$ 11.8 million during the forecast period. The increased consumption of Recycled Carbon Fiber is backed by the automotive industry as it is used to effectively reduce vehicle weight.
On the basis of type, the market is divided into chopped and milled recycled carbon fiber. In these, chopped recycled carbon fibers are the dominating segment owing to their increased consumption in end-use industries. It is most frequently utilized in injection molding compounding and thermoplastic compounding procedures for products ranging from athletic goods to automobiles and electronics.
This segment is anticipated to witness significant growth in both volume and value. Among the product type, the share of chopped Recycled Carbon Fiber is estimated to stand at more than two third in 2022 by value. The aqueous product form of Recycled Carbon Fiber is estimated to grow at 12.4% CAGR during the forecast period.
The automotive and transportation end-use industries are the largest industries, followed by industrial. One of the main factors propelling the global expansion of the recycled carbon fiber market is the rising use and demand for recycled carbon fiber in the automotive and transportation industries. The challenge of decreasing the overall vehicle weight is addressed through the use of recycled carbon fiber.
Recycled carbon fiber is used by manufacturers because of its excellent capabilities to decrease component downtime and increase product lifespan. The automotive & transportation segment of Recycled Carbon Fiber is expected to create an incremental dollar opportunity of US$ 49.7 million during the forecast period.
On the basis of the region, Europe & North America are dominating the recycled carbon fiber market owing to the presence of a large number of carbon fiber recyclers in this region. Europe is expected to maintain its dominancy as EU law mandated that 85% of automobiles be recyclable in the automotive sector.
In order to maintain competition and fortify their positions on the global stage, key players are focusing more on collaborations, expansion, and expanding their production capacities in order to stay competitive and strengthen their global positions. Key market players are also launching new products in order to compete with other market players. For Instance
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, and South Africa. |
| Key Segments Covered | Product Type, Source Type, Application, & Region. |
| Key Companies Profiled | Toray Industries Inc.; SGL Carbon; Gen 2 Carbon; Karborek Recycling Carbon Fibers; Carbon Conversion; Shocker Composites; Alpha Recylage Composites; Procotex Corporation SA; Vartega INC.; Carbon Fiber Recylin Inc.; Carbon Fiber Remanufacturing |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The recycled carbon fiber market is anticipated to reach a valuation of US$ 54.9 Mn in 2022.
Demand for recycled carbon fiber is anticipated to witness a growth rate of 12.3% over the forecast period of 2022 and 2032 in terms of value.
Vartega, Bcircular, Mallinda, and others are some of the prominent Recycled Carbon Fiber Startups.
Toray Industries Inc., Carbon Conversions Inc., SMC Global PLC, Alpha Recyclage Composites, and others are the leading players in the market.
The automotive & transportation end-use industry is the largest industry followed by industrial. Growing consumption of Recycled Carbon Fiber in end-use industries is bolstering the market growth.
1. Executive Summary | Recycled Carbon Fiber Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
5.1. Historical Market Volume (Tons) Analysis, 2017 to 2021
5.2. Current and Future Market Volume (Tons) Projections, 2022 to 2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis by Product Type
6.2. Pricing Analysis by Regions
7. Global Market Demand (in Value or Size in US$ million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Global Economic Outlook
8.1.2. Global Caron Fiber Market Overview
8.1.3. Global Automotive Production Overview
8.1.4. Global Fiber Production Overview
8.1.5. Global Aviation Industry Outlook
8.1.6. Global Textile Production Outlook
8.1.7. Global Chemical Industry Outlook
8.1.8. Industry Value Added By Key Countries
8.2. Forecast Factors - Relevance & Impact
8.2.1. Top Companies Historical Growth
8.2.2. Low Carbon Footprint
8.2.3. Demand From Automotive Industry
8.2.4. Launching of New Product Variants
8.2.5. Environment and Safety Regulations
8.2.6. Impact Of Pricing On The Market
8.2.7. Investment In Research And Development
8.3. Supply-Demand Analysis
8.4. Value Chain Analysis
8.4.1. List of Manufacturers
8.4.2. List of Distributors
8.5. Market Dynamics
8.5.1. Drive
8.5.2. Restraint
8.5.3. Opportunities
8.6. Impact of COVID-19 Crisis
8.7. Key Regulations & Certifications
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ million) and Volume Analysis By Product Type, 2017 to 2021
9.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By Product Type, 2022 to 2032
9.3.1. Chopped
9.3.2. Milled
9.4. Market Attractiveness Analyses, By Product Type
10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Source
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ million) and Volume Analysis By Source, 2017 to 2021
10.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By Source, 2022 to 2032
10.3.1. Wind & Turbine Scrap
10.3.2. Aerospace Scrap
10.3.3. Others
10.4. Market Attractiveness Analysis By Source
11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ million) and Volume Analysis By End-Use, 2017 to 2021
11.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By End-Use, 2022 to 2032
11.3.1. Automotive & Transportation
11.3.2. Consumer Goods
11.3.3. Sporting Goods
11.3.4. Marine
11.3.5. Industrial
11.4. Market Attractiveness Analysis By End-Use
12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
12.1. Introduction
12.2. Historical Market Size (US$ million) and Volume Analysis By Region, 2017 to 2021
12.3. Current Market Size (US$ million) and Volume Analysis and Forecast By Region, 2022 to 2032
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. East Asia
12.3.5. South Asia & Pacific
12.3.6. Middle East & Africa
12.4. Market Attractiveness Analysis By Region
13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
13.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Product Type
13.4.2. By Source
13.4.3. By End-Use
13.4.4. By Country
13.4.4.1. The USA
13.4.4.2. Canada
13.5. Market Attractiveness Analysis
13.5.1. By Product Type
13.5.2. By Source
13.5.3. By End-Use
13.5.4. By Country
13.6. Market Trends
13.7. Drivers and Restraints Impact Analysis
14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
14.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Product Type
14.4.2. By Source
14.4.3. By End-Use
14.4.4. By Country
14.4.4.1. Brazil
14.4.4.2. Mexico
14.4.4.3. Rest of Latin America
14.5. Market Attractiveness Analysis
14.5.1. By Product Type
14.5.2. By Source
14.5.3. By End-Use
14.5.4. By Country
14.6. Market Trends
14.7. Drivers and Restraints Impact Analysis
15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
15.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Product Type
15.4.2. By Source
15.4.3. By End-Use
15.4.4. By Country
15.4.4.1. Germany
15.4.4.2. Italy
15.4.4.3. France
15.4.4.4. The United Kingdom
15.4.4.5. Spain
15.4.4.6. BENELUX
15.4.4.7. Russia
15.4.4.8. Rest of Europe
15.5. Market Attractiveness Analysis
15.5.1. By Product Type
15.5.2. By Source
15.5.3. By End-Use
15.5.4. By Country
15.6. Market Trends
15.7. Drivers and Restraints Impact Analysis
16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
16.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Product Type
16.4.2. By Source
16.4.3. By End-Use
16.4.4. By Country
16.4.4.1. China
16.4.4.2. Japan
16.4.4.3. South Korea
16.5. Market Attractiveness Analysis
16.5.1. By Product Type
16.5.2. By Source
16.5.3. By End-Use
16.5.4. By Country
16.6. Market Trends
16.7. Drivers and Restraints Impact Analysis
17. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
17.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032
17.4.1. By Product Type
17.4.2. By Source
17.4.3. By End-Use
17.4.4. By Country
17.4.4.1. India
17.4.4.2. ASEAN
17.4.4.3. ANZ
17.4.4.4. Rest of South Asia & Pacific
17.5. Market Attractiveness Analysis
17.5.1. By Product Type
17.5.2. By Source
17.5.3. By End-Use
17.5.4. By Country
17.6. Market Trends
17.7. Drivers and Restraints Impact Analysis
18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
18.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2022 to 2032
18.4.1. By Product Type
18.4.2. By Source
18.4.3. By End-Use
18.4.4. By Country
18.4.4.1. GCC Countries
18.4.4.2. Turkey
18.4.4.3. Northern Africa
18.4.4.4. South Africa
18.4.4.5. Rest of Middle East and Africa
18.5. Market Attractiveness Analysis
18.5.1. By Product Type
18.5.2. By Source
18.5.3. By End-Use
18.5.4. By Country
18.6. Market Trends
18.7. Drivers and Restraints Impact Analysis
19. Country-Wise Market Analysis
19.1. The USA Market Analysis
19.1.1. By Product Type
19.1.2. By Source
19.1.3. By End-Use
19.2. Canada Market Analysis
19.2.1. By Product Type
19.2.2. By Source
19.2.3. By End-Use
19.3. Mexico Market Analysis
19.3.1. By Product Type
19.3.2. By Source
19.3.3. By End-Use
19.4. Brazil Market Analysis
19.4.1. By Product Type
19.4.2. By Source
19.4.3. By End-Use
19.5. Germany Market Analysis
19.5.1. By Product Type
19.5.2. By Source
19.5.3. By End-Use
19.6. Italy Market Analysis
19.6.1. By Product Type
19.6.2. By Source
19.6.3. By End-Use
19.7. France Market Analysis
19.7.1. By Product Type
19.7.2. By Source
19.7.3. By End-Use
19.8. The United Kingdom Market Analysis
19.8.1. By Product Type
19.8.2. By Source
19.8.3. By End-Use
19.9. Spain Market Analysis
19.9.1. By Product Type
19.9.2. By Source
19.9.3. By End-Use
19.10. Russia Market Analysis
19.10.1. By Product Type
19.10.2. By Source
19.10.3. By End-Use
19.11. BENELUX Market Analysis
19.11.1. By Product Type
19.11.2. By Source
19.11.3. By End-Use
19.12. China Market Analysis
19.12.1. By Product Type
19.12.2. By Source
19.12.3. By End-Use
19.13. Japan Market Analysis
19.13.1. By Product Type
19.13.2. By Source
19.13.3. By End-Use
19.14. S. Korea Market Analysis
19.14.1. By Product Type
19.14.2. By Source
19.14.3. By End-Use
19.15. India Market Analysis
19.15.1. By Product Type
19.15.2. By Source
19.15.3. By End-Use
19.16. ASEAN Market Analysis
19.16.1. By Product Type
19.16.2. By Source
19.16.3. By End-Use
19.17. GCC Countries Market Analysis
19.17.1. By Product Type
19.17.2. By Source
19.17.3. By End-Use
19.18. Turkey Market Analysis
19.18.1. By Product Type
19.18.2. By Source
19.18.3. By End-Use
19.19. South Africa Market Analysis
19.19.1. By Product Type
19.19.2. By Source
19.19.3. By End-Use
20. Market Structure Analysis
20.1. Market Analysis by Tier of Companies [Recycled Carbon Fiber]
20.2. Market Concentration
20.3. Market Share Analysis of Top Players
20.4. Apparent Production Capacity of Top Players
20.5. Market Presence Analysis
20.5.1. By Regional Presence
20.5.2. By Product Footprint
21. Competition Analysis
21.1. Competition Dashboard
21.2. Primary Survey Analysis
21.3. Competition Deep Dive
21.3.1. Toray Industries Inc.
21.3.1.1. Overview
21.3.1.2. Product Portfolio
21.3.1.3. Key Financials
21.3.1.4. Sales Footprint
21.3.1.5. Strategy Overview
21.3.2. SGL Carbon
21.3.2.1. Overview
21.3.2.2. Product Portfolio
21.3.2.3. Key Financials
21.3.2.4. Sales Footprint
21.3.2.5. Strategy Overview
21.3.3. Gen 2 Carbon
21.3.3.1. Overview
21.3.3.2. Product Portfolio
21.3.3.3. Key Financials
21.3.3.4. Sales Footprint
21.3.3.5. Strategy Overview
21.3.4. Karborek Recycling Carbon Fibers
21.3.4.1. Overview
21.3.4.2. Product Portfolio
21.3.4.3. Key Financials
21.3.4.4. Sales Footprint
21.3.4.5. Strategy Overview
21.3.5. Carbon Conversion
21.3.5.1. Overview
21.3.5.2. Product Portfolio
21.3.5.3. Key Financials
21.3.5.4. Sales Footprint
21.3.5.5. Strategy Overview
21.3.6. Shocker Composites
21.3.6.1. Overview
21.3.6.2. Product Portfolio
21.3.6.3. Key Financials
21.3.6.4. Sales Footprint
21.3.6.5. Strategy Overview
21.3.7. Alpha Recylage Composites
21.3.7.1. Overview
21.3.7.2. Product Portfolio
21.3.7.3. Key Financials
21.3.7.4. Sales Footprint
21.3.7.5. Strategy Overview
21.3.8. Procotex Corporation SA
21.3.8.1. Overview
21.3.8.2. Product Portfolio
21.3.8.3. Key Financials
21.3.8.4. Sales Footprint
21.3.8.5. Strategy Overview
21.3.9. Vartega INC.
21.3.9.1. Overview
21.3.9.2. Product Portfolio
21.3.9.3. Key Financials
21.3.9.4. Sales Footprint
21.3.9.5. Strategy Overview
21.3.10. Carbon Fiber Recylin Inc.
21.3.10.1. Overview
21.3.10.2. Product Portfolio
21.3.10.3. Key Financials
21.3.10.4. Sales Footprint
21.3.10.5. Strategy Overview
21.3.11. Carbon Fiber Remanufacturing
21.3.11.1. Overview
21.3.11.2. Product Portfolio
21.3.11.3. Key Financials
21.3.11.4. Sales Footprint
21.3.11.5. Strategy Overview
22. Assumptions and Acronyms Used
23. Primary Survey Analysis
24. Research Methodology
Chemicals & Materials
February 2023
REP-GB-167
325 pages
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Recycled Carbon Fiber Market
