Press release
Fiber Reinforced Plastic Recycling Market to Reach USD 916.68 Mn by 2032 at 8.2% CAGR
Fiber Reinforced Plastic Recycling Market
The fiber‐reinforced plastic (FRP) recycling market is witnessing a wave of transformation. Valued at approximately USD 487.98 billion in 2024, industry projections estimate a climb to USD 916.68 billion by 2032, reflecting a CAGR of 8.2 % from 2025 to 2032 .
This surge is fueled by rising concerns over composite waste, stringent environmental regulations banning landfill disposal, and innovative recycling methods-from mechanical size-reduction to advanced chemical and thermal techniques. The result: Recycling processes are turning FRP scraps into reusable materials for automotive, aerospace, construction, and renewable energy sectors.
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►Competitive Landscape & Higher Demand
A dynamic competitive landscape features Aeron Composite Pvt. Ltd., Carbon Conversions, Gen 2 Carbon Limited, Toray Industries Inc., Ucomposites AS, and Vartega Inc., among others . Companies are differentiating through:
Technology partnerships to boost recycling efficiency
Expansion of recycling infrastructure
Collaborations with manufacturing sectors for circular supply chains
Demand is especially rising in Europe and North America, where bans on FRP landfills and mandates on recycled content apply. M&A activity is heating up: Veolia Environnement reportedly acquired smaller recycling firms in Europe to integrate recycling tech, while Toray Industries entered partnerships in North America to process CFRP waste.
• United States - Growth & Opportunity
The U.S. FRP recycling market is projected to grow at a CAGR of 8.6 % between 2023 and 2030 . Driven by infrastructure development, aerospace and wind‐turbine decommissioning, the region offers strong opportunities in mechanical recycling and pyrolosis.
Consolidation & Updates: Toray Industries Inc. formed a joint venture with a U.S. recycler to treat CFRP waste from aerospace. Veolia acquired a regional plant in Texas, increasing its FRP throughput capacity.
• Asia Pacific - Trends & Regional Consolidation
Asia Pacific, led by China and Japan, posts the fastest regional growth (~12 % CAGR) between 2024-2029 . Expansion in wind energy and automotive manufacturing is driving recycling demand.
M&A activity: Aeron Composite Pvt. Ltd. acquired a mechanical-recycling startup in India to support growing exports. In China, Gen 2 Carbon Limited merged with a domestic recycling supplier to scale CFRP processing.
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• Europe - Growth & Updation
As the largest regional market (~47.7 % share in 2023) , Europe's FRP recycling thrives thanks to bans on landfill disposal and robust wind-energy recycling infrastructures.
Consolidation note: Ucomposites AS and Carbon Conversions entered a strategic alliance in Germany to jointly retrofit wind-blade recycling facilities, enhancing capacity ahead of Germany's turbine blade ban.
Updation: EU updates mandate recycled-content targets for composite products by 2027, boosting investments in chemical-recycling R&D.
• Middle East & Africa - Opportunity & Trends
Still emerging, MEA has room for growth. While 2023 valuations hovered around USD 0.51 billion , rising environmental policies in South Africa and UAE are opening markets for mechanical recycling plants and pilot chemical-recycling pilot schemes.
Local firms are forming cross-border alliances with European recyclers for tech transfer, aiming to build regional CFRP processing hubs by 2027.
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►Key Recent Developments (Global)
Veolia Environnement acquires regional FRP recycling facility in North America.
Toray Industries Inc. JV with U.S. aerospace recycler launched.
Ucomposites AS and Carbon Conversions form alliance in Germany.
Gen 2 Carbon Limited merges with Chinese recycler for expansion.
Aeron Composite Pvt. Ltd. acquires Indian recycling startup.
► Market Segmentation: In-Depth Analysis:
• by Material Type
Glass Fiber Reinforced Plastics
Carbon Fiber Reinforced Plastics
Glass-fiber reinforced plastic and carbon-fiber reinforced plastic are the two segments of the fiber-reinforced plastic recycling market. The Glass-Fiber Reinforced Plastic Segment is anticipated to maintain its dominant market position throughout the forecast period, having dominated the Fiber Reinforced Plastic Recycling market in 2024. because they are widely used in high-volume applications where cost-effectiveness trumps the requirement for premium material qualities, including as wind turbine blades, building materials, and automobile components. mainly because of its great volume uses in construction and automotive demand, as well as its moderate cost ($3-5/kg).
• by Recycling Technology
Mechanical Recycling
Thermal Recycling (Pyrolysis, Fluidized Bed)
Chemical Recycling (Solvolysis, Enzymatic)
Emerging Methods
Mechanical Recycling, Chemical Recycling (Solvolysis, Enzymatic), Thermal Recycling (Pyrolysis, Fluidized Bed), and Emerging Methods comprise the Reinforced Plastic Recycling market. The market for fiber-reinforced plastic recycling was dominated by the mechanical recycling segment in 2024, and it is anticipated to continue to maintain the greatest market share throughout the forecast period. because its infrastructural requirements are simpler and its operating costs are lower. The most well-known technique efficiently handles the low-value, high-volume materials needed to produce and utilize them as filters in automobile applications through Peace.
• by End-Users
Construction and Infrastructure
Wind Energy
Automotive
Aerospace
Wind Energy
Consumer Goods
Others
The market for recycling fiber-reinforced plastic is divided into several segments, including consumer goods, construction and infrastructure, wind energy, automotive, and aerospace. In 2024, the Fiber Reinforced Plastic Recycling market was dominated by the Construction and Infrastructure Segment, which is anticipated to continue to maintain the biggest market share throughout the forecast period. because there is a growing need for affordable and environmentally friendly building materials.
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/fiber-reinforced-plastic-recycling-market/281151/
► Learn about the top players driving innovation in the Market :
• North America
1. Carbon Conversions, Inc. - South Carolina, USA
2. Vartega Inc. - Colorado, USA
3. Shocker Composites LLC - Kansas, USA
4. MIT-RCF (Materials Innovation Technologies) - North Carolina, USA
5. ELG Carbon Fibre Ltd. - Ohio, USA
• Europe
1. SIGRA Composite - Germany
2. ELG Carbon Fibre Ltd. - UK
3. Recyclable Carbon Fiber Ltd. - UK
4. Carbon Fiber Recycling - Netherlands
5. FiberEUse (EU-funded consortium) - Multi-country (Italy-led)
6. Composites Evolution Ltd. - UK (Recycled flax/carbon fibers)
7. ECOBULK (EU Horizon 2020 Project) - Spain/Germany
• Asia Pacific
1. Toray Industries, Inc. - Japan
2. Mitsubishi Chemical Corporation - Japan
3. Carbon Nexus - Australia
4. Jiangsu Jiuding New Material Co., Ltd. - China
5. Hadeg Recycling - India
6. Karborek Recycling - India
• Middle East and Africa
1. Carbon Middle East - UAE
2. SABIC - Saudi Arabia
3. Enviroserve - UAE
4. Taha Asia Carbon Fiber - South Africa
5. Mectech Fibre Glass - Egypt
• South America
1. Tecniplas - Brazil
2. Elekeiroz - Brazil
3. Carborec - Argentina
4. Polimeros Reciclados - Chile
5. Ecofibras - Colombia
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