Fiber Reinforced Plastic (FRP) Recycling Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, Germany, Japan, UK - Size and Forecast 2024-2028

Fiber Reinforced Plastic Recycling Market Size 2024-2028

The fiber reinforced plastic recycling market size is forecast to increase by USD 40.1 million at a CAGR of 3.4% between 2023 and 2028.

• The market is experiencing significant growth due to several key factors. Stringent regulations on the disposal of composites in Europe are driving the demand for FRP recycling solutions. Additionally, the long service life of Carbon Fiber Reinforced Plastic (CFRP) makes it a cost-effective alternative to traditional materials in various industries. FRP, which includes composites made from thermosets, thermoplastics elastomers, offers superior physical properties such as high strength, dimensional stability, and resistance to heat, pressure, and deformation. The recycling process for FRP involves the separation of the matrix material from the reinforcing fibers, which can then be reused in new applications. This not only reduces the amount of waste generated but also decreases the need for virgin raw materials. Furthermore, the high strength-to-weight ratio and excellent mechanical properties of CFRP make it a popular choice for various industries, including automotive, construction, and aerospace. The recycling of FRP is expected to gain momentum In the coming years due to these factors.

What will be the Size of the Fiber Reinforced Plastic (FRP) Recycling Market During the Forecast Period?

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• The Fiber Reinforced Plastics (FRP) recycling market is experiencing significant growth due to the increasing demand for sustainable solutions In the plastics industry. Raw materials used in FRP production, including unsaturated polyester resin, epoxy resin, and vinyl ester resin, account for a substantial portion of the waste stream. Recycling these materials presents an opportunity to reduce the environmental impact of FRP production and save on raw material costs. Fluctuating temperatures and decomposition are key challenges in FRP recycling.
• Moreover, technologies such as pyrolysis and mechanical recycling are being explored to address these challenges. Applications for recycled FRP include tyre production, sealing tapes, fibre optics for data transmission, and elastic components. Short fibers derived from recycled FRP are also used as reinforcements in new composites. The market for FRP recycling is driven by the growing demand for sustainable plastics solutions, as well as the increasing availability of waste FRP from industries such as automotive, construction, and consumer goods (pet bottles and yogurt cups). The market is expected to continue growing as advancements in recycling technologies and expanding applications drive demand for recycled FRP.

How is this Fiber Reinforced Plastic (FRP) Recycling Industry segmented and which is the largest segment?

The fiber reinforced plastic (FRP) recycling industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Carbon fiber
  • Glass fiber
  • Others
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

By Type Insights

• The carbon fiber segment is estimated to witness significant growth during the forecast period.

Carbon fiber reinforced plastic (CFRP), a composite material made by combining carbon fiber reinforcement and resin, is gaining popularity in high-performance industries due to its lightweight and superior mechanical properties. In aerospace, automotive, and robotics sectors, CFRP's high fatigue strength, load-bearing capability, and resistance to temperature fluctuations make it an ideal choice. In the automotive industry, CFRP is increasingly used in high-performance race cars for its ability to absorb higher impact energy than steel. This material's dimensionally stable nature also ensures the production of tyres and sealing tapes with consistent quality. The recycling market for fiber composite materials, including CFRP, is growing due to the increasing demand for sustainable manufacturing practices and the need to reduce waste. Despite challenges such as decomposition at high temperatures, the market is expected to expand, driven by the demand for lightweight and durable products.

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The carbon fiber segment was valued at USD 110.20 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 34% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European region is expected to lead the global Fiber Reinforced Plastics (FRP) recycling market due to stringent regulations against landfilling in countries like Germany, Italy, and the UK. The construction, aerospace, and wind energy industries are significant consumers of recycled FRPs. In Europe, wind energy is a major source of electricity and a crucial component of global energy transition plans. However, there is a need for a more integrated system of sourcing and recycling procedures to ensure a consistent supply of input materials and mitigate environmental challenges arising from the rapid growth of FRP technology in line with climate action targets. Continuous fibers, such as glass fibers, are commonly used in manufacturing FRPs. Cut mats, fleece, fabrics, and composite materials, including Glass-f, are essential components of FRPs. The aerospace industry also utilizes recycled FRPs in aircraft and spacecraft production.

Market Dynamics

Our fiber reinforced plastic (FRP) recycling market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise In the adoption of Fiber Reinforced Plastic (FRP) Recycling Industry?

Stringent regulations on disposal of composites in Europe is the key driver of the market.

• The Fiber Reinforced Plastics (FRP) recycling market is witnessing significant growth due to the increasing demand for sustainable solutions in various industries. The physical properties of FRP, including high strength, stability, and low thermal expansion, make it an ideal choice for numerous applications in sectors such as aerospace, automobile, sports equipment, and wind turbines. However, the end-of-life (EoL) disposal of FRP composites poses a challenge due to their complex structure, which includes raw materials like unsaturated polyester resin, epoxy resin, and vinyl ester resin, as well as fibers such as glass fibers, short fibers, long fibers, and continuous fibers.
• In addition, the recycling of FRP composites involves the use of various techniques, including pyrolysis, mechanical recycling, and chemical recycling. These processes aim to recover the matrix and fibers, which can then be reused In the production of new composite materials or other applications. For instance, the recovered matrix can be used as a raw material In the manufacturing of fibreglass, while the fibers can be reused in tyre production, sealing tapes, and composite material production. The increasing demand for sustainable solutions and the need to reduce waste have led to significant research and development efforts In the area of FRP recycling.

What are the market trends shaping the Fiber Reinforced Plastic (FRP) Recycling Industry?

Cost-effective alternative is the upcoming market trend.

• The Fiber Reinforced Plastics (FRP) recycling market is driven by the growing demand for sustainable and cost-effective solutions in various industries. FRP, made from thermosets, thermoplastics, and elastomers, offers superior physical properties such as high strength, specific stiffness, and corrosion resistance. These advantages make FRP an attractive alternative to conventional materials like steel and concrete in infrastructure applications, including bridges, train stations, and overpasses. FRP's raw materials, such as unsaturated polyester resin, epoxy resin, and vinyl ester resin, are combined with fibers like glass, carbon, and aramid to form a composite material. The fibers' length, from short to continuous, impacts the material's properties.
• For instance, short fibers provide better impact resistance, while long fibers enhance stiffness and strength. FRP's versatility extends to various industries, such as aerospace, automobile, sports equipment, marine, and wind energy. In the electronic industry, FRP is used for fiber optics, data transmission, and printed wiring boards. The automobile sector benefits from FRP's lightweight and high-strength properties in manufacturing component assemblies and structural parts. In the aerospace industry, FRP is used for aircraft and spacecraft, providing excellent mechanical properties and low thermal expansion. FRP's stability under fluctuating temperatures and resistance to decomposition make it ideal for use in extreme environments.

What challenges does the Fiber Reinforced Plastic (FRP) Recycling Industry face during its growth?

Long service life of carbon fiber reinforced plastic (CFRP) is a key challenge affecting the industry growth.

• The Fiber Reinforced Plastics (FRP) recycling market encompasses the reprocessing of various plastics, including thermosets, thermoplastics, and elastomers, to produce new raw materials for the manufacturing of fiber composite (FRP) products. These composites exhibit superior physical properties such as high strength, rigidity, and corrosion resistance, making them suitable for diverse applications in industries like aerospace, automobile, sports equipment, marine, and wind energy. FRP materials are composed of a matrix, typically made of unsaturated polyester resin, epoxy resin, or vinyl ester resin, and reinforcing fibers, often fibreglass, which can be short, long, or continuous, and include glass fibers. The matrix provides the bonding agent for the fibers, while the fibers enhance the composite's mechanical properties, including specific strength, specific stiffness, and fatigue strength.
• Moreover, the recycling process involves the deformation, heat, and pressure application to decompose the FRP waste, allowing the recovery of raw materials. The recycled materials can be used to produce new FRP products, such as fibre optics for data transmission, bandwidth enhancement, and component assemblies. Despite the long-term durability and stability of CFRP composites, their service life can hinder market growth. The high performance and low maintenance requirements of CFRP products in applications like structural parts for aircraft, spacecraft, and civil engineering can lead to a longer service life, reducing the need for frequent replacements. However, this longevity may limit the market growth as the demand for new FRP products may decrease.

Exclusive Customer Landscape

The fiber reinforced plastic (FRP) recycling market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the fiber reinforced plastic (FRP) recycling market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, fiber reinforced plastic (FRP) recycling market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Aeron Composite Pvt. Ltd
• Bedford Reinforced Plastics Inc.
• Carbon Conversions
• Carbon Fiber Recycling Inc.
• Carbon Fiber Recycle Industry Co. Ltd
• Conenor Ltd
• DowAksa
• Eco Wolf Inc.
• Gen 2 Carbon Ltd.
• Global Fiberglass Solutions
• Karborek RCF Srl
• MCR Mixt Composites Recyclables
• Mitsubishi Chemical Group Corp.
• Neocomp GmbH
• PROCOTEX Belgium SA
• ReFiber ApS
• Strongwell Corp.
• Toray Industries Inc.
• Ucomposites AS
• Vartega Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Fiber Reinforced Plastics (FRP) have gained significant traction in various industries due to their unique combination of properties. These materials, which consist of a matrix of resin reinforced with fibers, offer superior mechanical strength, corrosion resistance, and low thermal expansion. The versatility of FRP has led to its application in numerous sectors, including aerospace, automotive, sports equipment, and civil engineering. The raw materials used In the production of FRP include unsaturated polyester resin, epoxy resin, and vinyl ester resin. The fibers used as reinforcement can be categorized into short fibers, long fibers, and continuous fibers. Glass fibers are the most commonly used reinforcement in FRP, but other materials like carbon fibers and aramid fibers are also utilized.

In addition, the demand for FRP recycling is driven by several factors. First, the production of FRP consumes significant amounts of raw materials, which can lead to high production costs. Recycling offers a cost-effective solution by reducing the need for virgin raw materials. Second, the recycling of FRP helps to address environmental concerns. The disposal of FRP waste can lead to negative environmental impacts, and recycling offers a more sustainable alternative. Despite the benefits of FRP recycling, several challenges remain. The separation of the fibers from the matrix can be difficult due to the strong bond between the two components.

Additionally, the quality of the recycled material may not be as high as virgin material, which can limit its applications. The electronic industry is a significant consumer of FRP, particularly In the production of fiber optics and printed wiring boards. The use of FRP In these applications requires high stability and dimensional accuracy, making recycled material less desirable due to potential variations in properties. However, research is ongoing to develop methods for producing high-quality recycled FRP for use In these applications. In the automotive industry, FRP is used In the production of structural parts, such as body panels and chassis components.

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What are the Key Data Covered in this Fiber Reinforced Plastic (FRP) Recycling Market Research and Growth Report?

• CAGR of the Fiber Reinforced Plastic (FRP) Recycling industry during the forecast period
• Detailed information on factors that will drive the Fiber Reinforced Plastic (FRP) Recycling growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the fiber reinforced plastic (frp) recycling market growth of industry companies

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