Global FRP Recycling Market: Key Trends for 2024-2032
As per Triton’s report, the global fiber-reinforced plastic (FRP) recycling market is projected to advance at a CAGR of 8.04% over the forecasted years 2024-2032.
A recent study by Triton Market Research titled the Global Fiber-Reinforced Plastic (FRP) Recycling Market report is segmented by Recycling Technique (Mechanical Recycling [Size Reduction], Incineration and Co-incineration, Thermal/Chemical Recycling)), End-User (Transportation, Building and Construction, Industrial, Sports, Other End-Users), Product Type (Carbon-Fiber Reinforced Plastic, Glass-Fiber Reinforced Plastic), and Regional Outlook (Latin America, Europe, North America, Asia-Pacific, Middle East and Africa).
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Fiber-reinforced plastic (FRP) recycling is the process of gathering, sorting, and reprocessing waste made from polymer composites reinforced with fibers like glass, carbon, or aramid. These materials are typically found in items such as boats, automotive parts, aerospace components, and construction materials.
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As per Triton’s analysis, the global market for fiber-reinforced plastic (FRP) recycling market is set to progress in revenue and volume at a compound annual growth rate of 8.04% and 7.46%, respectively, during 2024-2032.
The FRP recycling market’s development is supported by the increasing accumulation of composite waste, innovative campaigns for CFRP re-utilization, and growing environmental consciousness. Organizations worldwide are taking significant steps to mitigate the environmental impact of carbon fiber-reinforced plastic (CFRP) by promoting its reuse.
These initiatives aim to reduce waste while enhancing both economic and environmental efficiency. One notable example is the Carbon Fibre Circular Alliance, established in March 2023, with the University of California, Irvine (UCI) as a key participant. This involvement supports UCI’s Agenda 2030 sustainability goals, which focus on fostering sustainable development and addressing climate change. By collaborating with partners in the alliance, UCI seeks to reduce waste and pollution from carbon fiber production, furthering its commitment to environmental responsibility.
However, challenges such as limited recycling techniques for CFRP, complex recycling process, and lack of awareness limit the expansion of the fiber-reinforced plastic (FRP) recycling market.
Europe leads the fiber-reinforced plastic (FRP) recycling market globally. As industries like automotive, aerospace, and construction seek greener alternatives, the need for recycling solutions for FRP materials, commonly used for their high strength-to-weight ratio, is rising.
Here's a link to our Regional Report Summary: https://www.tritonmarketresearch.com/search-report/Fiber-reinforced+Plastic+(FRP) +Recycling+Market
Europe is leading the charge in developing innovative recycling technologies, such as mechanical and chemical recycling methods, to recover valuable fibers and resins from composite waste. EU directives promoting circular economy initiatives, combined with pressure to reduce carbon footprints, are encouraging companies to invest in advanced recycling processes.
The leading companies in the FRP recycling market comprise Gen 2 Carbon Limited, MCR Mixt Composites Recyclables, Global Fiberglass Solutions, Carbon Conversions, Aeron Composite Pvt Ltd, Carbon Fiber Recycling, Mitsubishi Chemical Group Corporation, NeoComp GmbH, Vartega Inc, Toray Industries Inc, UComposites AS, Conenor Ltd, and Carbon Fiber Recycle Industry Co Ltd.
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Question & Answer: Global Fiber-Reinforced Plastic (FRP) Recycling Market
Question 1: What factors support the fiber-reinforced plastic (FRP) recycling market’s development?
Answer: The FRP recycling market’s development is supported by the increasing accumulation of composite waste, innovative campaigns for CFRP re-utilization, and growing environmental consciousness.
Organizations worldwide are taking significant steps to mitigate the environmental impact of carbon fiber-reinforced plastic (CFRP) by promoting its reuse. These initiatives aim to reduce waste while enhancing both economic and environmental efficiency. One notable example is the Carbon Fibre Circular Alliance, established in March 2023, with the University of California, Irvine (UCI) as a key participant. This involvement supports UCI’s Agenda 2030 sustainability goals, which focus on fostering sustainable development and addressing climate change.
Question 2: What challenges limit the expansion of the fiber-reinforced plastic (FRP) recycling market?
Answer: Challenges such as limited recycling techniques for CFRP, complex recycling process, and lack of awareness limit the expansion of the fiber-reinforced plastic (FRP) recycling market.
Question 3: Which region leads the fiber-reinforced plastic (FRP) recycling market?
Answer: Europe leads the fiber-reinforced plastic (FRP) recycling market globally. As industries like automotive, aerospace, and construction seek greener alternatives, the need for recycling solutions for FRP materials, commonly used for their high strength-to-weight ratio, is rising. Europe is leading the charge in developing innovative recycling technologies, such as mechanical and chemical recycling methods, to recover valuable fibers and resins from composite waste. EU directives promoting circular economy initiatives, combined with pressure to reduce carbon footprints, are encouraging companies to invest in advanced recycling processes.
Question 4: Which are the leading companies in the FRP recycling market?
Answer: The leading companies in the FRP recycling market comprise Gen 2 Carbon Limited, MCR Mixt Composites Recyclables, Global Fiberglass Solutions, Carbon Conversions, Aeron Composite Pvt Ltd, Carbon Fiber Recycling, Mitsubishi Chemical Group Corporation, NeoComp GmbH, Vartega Inc, Toray Industries Inc, UComposites AS, Conenor Ltd, and Carbon Fiber Recycle Industry Co Ltd.
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GLOBAL BIODEGRADABLE PLASTICS MARKET: https://www.tritonmarketresearch.com/reports/biodegradable-plastics-market
As per Triton’s report, the global biodegradable plastics market is set to advance with a CAGR of 10.84% during the forecast period 2019-2027.
Factors such as the rise in the production of corn and other renewable sources, the increasing scope of biodegradable plastics, and favorable government policies drive the biodegradable plastics market globally. However, high costs compared to conventional plastics and durability issues hamper the expansion of the studied market.
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