Market overview

The Global Fiber-reinforced Plastic (FRP) Recycling Market is expected to attain a valuation of USD 506.1 million in 2023 and is anticipated to grow with a CAGR of 8.7% from 2023 to 2032.

FRP recycling involves recovering glass and carbon fibers from fiber-reinforced plastics and composites to enable their reuse in secondary applications or products. It offers sustainability and economic value.

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Market Demand Drivers:

  • Rising usage of FRPs across construction, automotive, aerospace, renewable energy etc. increasing recyclable material volumes
  • Growing regulations on waste management, landfill restrictions and emissions reductions boosting recycling needs
  • Increasing economic and environmental impact owing to limited recycling rates of FRP waste so far

Market Leading Segmentation

By Product

• Glass -Fiber Reinforced Plastics
• Carbon-Fiber Reinforced Plastics
• Others

By Recycling Technique

• Thermal/Chemical Recycling
• Incineration & Co-Incineration
• Mechanical Recycling

By End-Use

• Building & Construction
• Transportation
• Industrial
• Sports & Leisure
• Others

Market  Top Players

• Uncomposites AS
• Carbon Conversions
• Aeron Composite Pvt. Ltd.
• Conenor Ltd
• Gen 2 Carbon Limited
• Vartega Inc.
• Toray Industries Inc.
• Eco-Wolf Inc.
• Karborek Recycling Carbon Fibers
• Procotex
• Neocomp GmbH

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Market Trends:

  • Recycled FRP flakes finding increasing uptake as fillers, additives and for low-grade applications.
  • Efforts underway across developed countries to improve recycling and material recovery efficiency through investments in facilities and techniques.
  • Explorations around chemical recycling for improved reclaimed fiber recovery compared to conventional mechanical recycling.

Market Opportunities:

  • Europe and North America exhibiting greater push towards circular-economy and high potential to leverage established FRP recycling value chain development.
  • Recycled FRPs yet to see significant resin production incorporation indicating scope for market expansion.
  • Increasing R&D exploring the potential of AI and robotics to enable closed-loop recycling systems.

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