Recycled carbon fibers potentially provide a low cost route for the application of carbon fiber to a wider range of products than is currently seen. Mainstream entry into the automotive market in particular has been forecast to occur when fiber costs drop below $5/lb. Several methods exist for the recovery of carbon fibers from both in-process scrap and end of life components but typically available fiber forms are discontinuous and not immediately amenable to reuse in conventional production processes. Successful reuse is therefore dependent on development of intermediate materials and processes which provide high fiber utilization, high mechanical properties and high added value but at low cost to the end user. Intermediate cost can accumulate through high labor levels and high energy cost and can outweigh the cost advantages of recycled fibers. This work evaluates recycled fiber conversion methods through a variety of intermediate processes and determines likely successful routes for commercialization. Conventional virgin fiber conversion processes such as molding compound manufacture, weaving and prepregging are evaluated and compared to potential recycled fiber processes such as non-woven manufacture and high volume fraction aligned fiber mats. Comments are made on likely recycled carbon fiber and processing costs that could open up viable markets.