Global Fiber-Reinforced Plastics Recycling Market Report: By Product Type (Glass-Fiber Reinforced Plastic, Carbon-Fiber Reinforced Plastic and Others) By Recycling Technique (Thermal/Chemical Recycling Incineration & Co-Incineration, and Mechanical Recycling (Size Reduction)), and Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
Global Fiber-Reinforced Plastics Recycling market is predicted to reach approximately USD 74.87 billion by 2031, at a CAGR of 5.35% from 2022 to 2031.
Fiber-reinforced plastics (FRP) have become more widely used in the construction, automotive, and aerospace industries. FRP is made of a polymer matrix reinforced with fibres like carbon or glass. Growth in the market was fueled by the increasing amount of FRP products that were reaching the end of their useful lives and by recycling-friendly regulations. Technologies for recycling, such as chemical and mechanical procedures, have developed to meet the difficulties presented by composite materials. The market's trajectory was characterised by the creation of novel recycling techniques and partnerships between businesses and academic institutions. As manufacturers looked for environmentally friendly substitutes, the demand for recycled FRP materials increased.
Global Fiber-Reinforced Plastics Recycling report scope and segmentation.
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Report Attribute |
Details |
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Estimated Market Value (2022) |
48.25 billion |
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Projected Market Value (2031) |
74.87 billion |
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Base Year |
2022 |
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Forecast Years |
2023 – 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By functions, By End-User & Region. |
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Segments Covered |
By Product Type, By Recycling Rate & By Region. |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031. |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others. |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Fiber-Reinforced Plastics Recycling dynamics
The demand for sustainable practices in industries such as automotive, construction, and aerospace led to a growing emphasis on recycling FRP materials. Innovations in recycling technologies and the development of efficient processes became pivotal in addressing the challenges posed by the disposal of composite materials.
The market dynamics were further shaped by a combination of factors, including advancements in recycling techniques, government initiatives promoting circular economy models, and collaborations among industry stakeholders to establish comprehensive recycling infrastructure. The pursuit of cost-effective and energy-efficient recycling methods played a crucial role in attracting investments and fostering market growth. As a result, the FRP Recycling Market evolved as a responsive and adaptive sector, aligning with global sustainability goals and contributing to the reduction of carbon footprints associated with traditional manufacturing processes.
Global Fiber-Reinforced Plastics Recycling drivers
Environmental Regulations and Sustainability Initiatives
The market for recycled fiber-reinforced plastics (FRP) has been driven by strict environmental regulations and a growing focus on sustainability. Around the world, governments and regulatory agencies have been aggressively pushing environmentally friendly behaviours and pushing industries to implement composite material recycling procedures. Because of this, producers in industries like aerospace, construction, and automotive are forced to add recycled FRP materials to their products in order to meet legal requirements and improve their sustainability profiles. The FRP Recycling Market is expanding as a result of this regulatory push, which has also promoted corporate responsibility and created a growing market for cutting-edge recycling technologies and procedures.
Technological Advancements in Recycling Techniques
The FRP Recycling Market has grown significantly as a result of the rapid advancements in recycling technologies. Processing innovations like pyrolysis and mechanical recycling have increased the effectiveness and economy of recycling FRP materials. Recovering high-quality fibres from waste is now possible thanks to advancements in composite material recovery and separation techniques, which lessens the need for virgin materials. By offering a sustainable source of raw materials, these technological advancements not only address the environmental issues related to the disposal of FRP, but they also benefit manufacturers financially. The industry is driven by a positive feedback loop of innovation and adoption as industries come to understand the benefits of using recycled FRP materials in terms of both the economy and the environment.
Challenges in Composite Material Separation
In the recycling process, it is still difficult to effectively separate and recover the individual components of composite materials, despite advancements in technology. FRPs frequently include a variety of materials, such as reinforcing fibres and resins, which can make separation more difficult. The inability to achieve a thorough and economical separation impairs the quality and efficiency of recycling, thereby restricting the scalability of FRP recycling operations.
Economic Viability and Initial Investment Costs
The establishment of advanced FRP recycling facilities comes with a hefty initial investment cost that limits market growth significantly. Even though recycling has clear long-term benefits, businesses may be discouraged by the high upfront costs associated with putting advanced recycling infrastructure and technologies in place. Government incentives, strategic partnerships, and persistent efforts to highlight the long-term financial and environmental benefits of FRP recycling are necessary to overcome the economic viability obstacle.
Innovation in Composite Material Design
The continuous innovation in composite material design offers a promising opportunity for the FRP Recycling Market. Researchers and manufacturers are exploring ways to enhance the recyclability of FRPs by designing materials with easier separation characteristics. By developing composite materials that facilitate efficient recycling processes without compromising performance, the industry can tap into new markets and applications, creating a positive feedback loop that drives both innovation and market growth. Embracing a lifecycle approach to composite material design presents a strategic opportunity for businesses to align with sustainability goals and gain a competitive edge in the evolving market landscape.
Segment Overview
By Product Type
In the global fiber-reinforced plastics recycling market, the product types are categorized into Glass-Fiber Reinforced Plastic, Carbon-Fiber Reinforced Plastic, and Others. The Glass-Fiber Reinforced Plastic segment is anticipated to experience a robust Compound Annual Growth Rate (CAGR) and dominate the market share during the forecast period. Glass-fiber reinforced polymers (GFRPs) are particularly popular due to their ease of forming and design flexibility. Industries such as construction, energy, transportation, national security, chemical engineering, and electronic power extensively utilize GFRPs, resulting in a proportional increase in GFRP waste. The imperative for GFRP recycling is escalating in response to government regulations on waste disposal and the expanding applications for recycled GFRP.
The Carbon-Fiber Reinforced Plastic segment is poised to secure the second-largest market share. Carbon fibers function as reinforcements in carbon-fiber reinforced plastics (CFRPs), which are composite engineered materials featuring organic epoxy resin as the matrix. Widely used in aerospace, building and construction, automotive, sports, consumer products, and wind industries, CFRPs exhibit high tensile strength, stiffness, temperature tolerance, chemical resistance, and low thermal expansion. The growing utilization of CFRPs across diverse sectors has led to an increased volume of CFRPs reaching the end of their lifecycle, driving the demand for recycling. Key factors influencing the supply chain for recycling CFRPs include security and governmental regulations, cost-effectiveness, and a growing emphasis on environmental responsibility.
By Recycling Technique
In the global fiber-reinforced plastics recycling market, recycling techniques are categorized into Thermal/Chemical Recycling, Incineration & Co-Incineration, and Mechanical Recycling. The Incineration & Co-Incineration segment is poised to experience a noteworthy Compound Annual Growth Rate (CAGR) and dominate the market share throughout the forecast period. Incineration, a thermal process, facilitates energy recovery from waste combustion heat, with the option to directly utilize the heat or convert it into electricity. Despite this energy reclamation benefit, the drawback of air pollution resulting from burning FRP scrap exists. On the other hand, co-incineration, particularly in cement kilns, provides a dual advantage of material and energy recovery, presenting a practical and cost-effective solution for Glass-Fiber Reinforced Plastic (GFRP) waste. The higher cost of FRP incineration, compared to landfilling, is attributed to the system overload arising from the high calorific content and hazardous emissions associated with the incineration process.
The Mechanical Recycling segment is anticipated to hold the second-largest market share. Recognized as the primary method for recycling thermoset FRP composite materials, mechanical recycling involves breaking down scrap composites into smaller recyclable materials. This method is considered optimal for the recovery of FRP materials lacking promoters and those with a reasonable cost structure. The process encompasses size reduction through crushing, milling, or shredding procedures to produce a blend of fibrous and powdered material. This resulting material can be recycled in a closed-loop system or utilized as a filler or reinforcement in various applications. Mechanical recycling stands out as an established and effective approach for the sustainable management of FRP waste, offering a balance between cost efficiency and environmental considerations.
Global Fiber-Reinforced Plastics Recycling Overview by Region
The Fiber-Reinforced Plastics Recycling Market exhibits a dynamic regional landscape driven by a confluence of environmental concerns, regulatory frameworks, and technological advancements. In North America, stringent environmental regulations and a robust recycling infrastructure have propelled the region to the forefront of the recycling market. The United States and Canada witness a growing emphasis on sustainable practices, fostering the adoption of fiber-reinforced plastics recycling technologies. Moreover, increasing awareness among consumers about the ecological impact of plastic waste contributes to the expanding market in the region.
In Europe, a proactive approach toward circular economy principles positions the continent as a key player in the fiber-reinforced plastics recycling market. The European Union's ambitious recycling targets and the implementation of extended producer responsibility (EPR) initiatives drive innovation in recycling technologies and infrastructure. Countries like Germany and the Netherlands lead the way with advanced recycling facilities, showcasing the potential for economic growth through sustainable practices.
Asia-Pacific, with its rapid industrialization and burgeoning middle class, faces both challenges and opportunities in the fiber-reinforced plastics recycling sector. Countries like China and Japan are investing heavily in research and development to enhance recycling capabilities and reduce environmental impact. The region's economic growth, coupled with increasing environmental consciousness, is expected to drive significant growth in the fiber-reinforced plastics recycling market.
Global Fiber-Reinforced Plastics Recycling market competitive landscape
The Fiber-Reinforced Plastics (FRP) recycling market is witnessing a dynamic and competitive landscape driven by the increasing demand for sustainable practices in the manufacturing and construction industries. Key players in this market are strategically focusing on innovation, technology adoption, and partnerships to gain a competitive edge.
Major industry participants, such as Veolia, DSM, and Owens Corning, are investing heavily in research and development to enhance recycling processes and develop new technologies that can efficiently handle the complexities of recycling fiber-reinforced plastics. These companies are also actively collaborating with other stakeholders across the value chain, including raw material suppliers and end-users, to create a closed-loop system that promotes circular economy principles.
In addition to established players, several emerging companies are entering the FRP recycling market, introducing novel approaches to address the challenges associated with the recycling of composite materials. These companies often leverage advanced sorting technologies, chemical processes, and mechanical methods to efficiently separate and recover valuable components from composite materials.
Government regulations and environmental policies are playing a crucial role in shaping the competitive landscape of the FRP recycling market. Companies that demonstrate a commitment to sustainability and compliance with recycling standards are gaining a competitive advantage, as they align with the growing global emphasis on reducing environmental impact.
Global Fiber-Reinforced Plastics Recycling Recent Developments
Scope of global Fiber-Reinforced Plastics Recycling report
Global Fiber-Reinforced Plastics Recycling report segmentation
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
