Both environmental and economic factors have driven the development of recycling routes for the increasing amount of carbon fibre reinforced polymer (CFRP) waste generated. This paper presents a review of the current status and outlook of CFRP recycling operations, focusing on state-of-the-art fibre reclamation and re-manufacturing processes, and on the commercialisation and potential applications of recycled products. It is shown that several recycling and re-manufacturing processes are reaching a mature stage, with implementations at commercial scales in operation, production of recycled CFRPs having competitive structural performances, and demonstrator components having been manufactured. The major challenges for the sound establishment of a CFRP recycling industry and the development of markets for the recyclates are summarised; the potential for introducing recycled CFRPs in structural components is discussed, and likely promising applications are investigated.