The global fiber-reinforced plastic (FRP) recycling market size was estimated at USD 442.24 million in 2022 and is projected to reach USD 795.06 million by 2030, growing at a CAGR of 8.0% from 2023 to 2030. This growth trajectory is primarily driven by the rising demand from a wide range of end-user industries such as building & construction, industrial applications, transportation, and several other sectors, where FRP materials are extensively used due to their strength, lightweight properties, and durability. The growing adoption of sustainable practices and the emphasis on circular economy models are further fueling the demand for FRP recycling.

In terms of regional growth, the U.S. FRP recycling market is expected to witness robust development, registering a CAGR of 8.6% during the forecast period. Factors such as large-scale infrastructure projects, ongoing modernization initiatives, and steady economic expansion are contributing to increased consumption and recycling of FRP in the country. Additionally, patterns in domestic production, import & export activities, and changing consumption trends have enabled manufacturers to explore untapped opportunities and strengthen their market presence.

Despite its exceptional durability and high commercial value, FRP is inherently challenging to recycle. A variety of recycling procedures are employed to recover usable components, thereby creating opportunities for different recycling pathways. In particular, recyclable materials derived from pre-impregnated waste, component offcuts, and crushed composites can be repurposed into new products, offering scope for resource efficiency and reduced waste generation.

However, the recycling process has inherent drawbacks. One of the key challenges is the deterioration of the surface quality of recycled components. Recycled fibers often lack proper sizing and typically retain resin residues or char after processing, leading to weaker fiber-matrix adhesion. This significantly impacts the performance characteristics of the recycled material. At present, only a limited number of recycling technologies are available that can effectively process carbon-fiber-reinforced plastics, making large-scale recovery and reuse difficult. The absence of cost-effective and efficient methods to extract high-quality recycled fibers remains a major limitation and is expected to act as a restraining factor for the overall market growth during the forecast period.

Key Market Trends & Insights:

• Europe emerged as the leading regional market in 2022, capturing approximately 46.0% of the global revenue share. The region’s dominance can be attributed to the presence of advanced recycling infrastructure, strong regulatory frameworks promoting sustainability, and high adoption of eco-friendly practices across industries. In addition, Europe’s emphasis on reducing carbon footprints and transitioning toward a circular economy has further supported the growth of the fiber-reinforced plastic (FRP) recycling industry in the region.

• From a product perspective, the glass-fiber-reinforced plastics (GFRPs) segment held a significant position, accounting for more than 61.0% of the global volume share in 2022. The dominance of GFRPs is largely due to their wide usage across various applications, including automotive, marine, aerospace, and construction, owing to their lightweight, durability, and cost-effectiveness. The abundance of GFRP waste generated from these sectors has created greater opportunities for recycling, thereby strengthening the segment’s contribution to the market.

• In terms of recycling techniques, the incineration & co-incineration segment led the FRP recycling market in 2022. This technique remains widely adopted as it enables efficient energy recovery while simultaneously managing composite waste that is otherwise difficult to recycle through conventional processes. Although not the most environmentally favorable option, incineration and co-incineration are currently among the most practical and widely utilized methods in large-scale FRP waste management.

• On the basis of end-use, the building & construction segment emerged as the market leader, contributing to over 40.0% of the global revenue share in 2022. The sector generates substantial FRP waste from applications such as panels, pipes, tanks, and structural components. With rapid urbanization, infrastructure modernization, and the need for sustainable building practices, the demand for FRP recycling within construction has surged, thereby establishing this segment as the dominant consumer of recycled fiber-reinforced plastics.

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Market Size & Forecast:

• 2022 Market Size: USD 442.24 Million

• 2030 Projected Market Size: USD 795.06 Million

• CAGR (2023-2030): 8.0%

• Europe: Largest market in 2022

Key Companies & Market Share Insights:

Most of the key players in the fiber-reinforced plastic (FRP) recycling market have established integrated operations that encompass both raw material production and distribution networks. This vertical integration allows companies to maintain stringent control over product quality, ensure consistent supply, and strengthen their regional footprint. In addition, it offers a significant competitive advantage by reducing dependency on external suppliers, lowering overall production costs, and ultimately improving profit margins.

To sustain their market position and meet the evolving requirements of end-user industries, companies are increasingly investing in research and development (R&D) activities. These efforts are aimed at creating innovative industrial plastics with improved mechanical, thermal, and chemical properties, thereby enhancing product performance while addressing environmental and sustainability concerns.

In particular, research initiatives are being directed toward the development of advanced materials that combine multiple properties, such as strength, lightweight characteristics, recyclability, and energy efficiency. Such innovations are expected to gain substantial acceptance across industries in the near future, as businesses seek materials that deliver superior performance while also supporting long-term sustainability goals.

For example, in February 2023, Toray Industries, Inc. announced the development of a new high-speed thermal welding technology for carbon-fiber-reinforced plastics (CFRPs). This breakthrough technology enhances manufacturing efficiency by enabling faster production cycles while simultaneously promoting weight reduction in CFRP airframes. The advancement is expected to significantly boost the application of CFRPs in the aircraft industry, where lightweight materials are essential for improving fuel efficiency and reducing emissions. Consequently, this development is anticipated to drive the demand for CFRPs in aerospace applications in the coming years, highlighting the growing importance of innovation in sustaining market competitiveness.

Key Players

• Aeron Composite Pvt. Ltd

• Carbon Conversions

• Carbon Fiber Recycle Industry Co. Ltd

• Carbon Fiber Recycling

• Conenor Ltd

• Eco-Wolf Inc.

• Gen 2 Carbon Limited

• Global Fiberglass Solutions

• Karborek Recycling Carbon Fibers

• MCR (Mixt Composites Recyclables)

• Mitsubishi Chemical Advanced Materials GmbH

• neocomp GmbH

• Procotex

• Toray Industries Inc.

• Ucomposites A/S

• Vartega Inc.

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Conclusion:

The fiber-reinforced plastic (FRP) recycling market is on a solid growth trajectory, driven by rising demand across industries like building & construction, transportation, and industrial applications. Key advantages come from integrating supply chains (raw materials to distribution), which help improve quality, reduce costs, and improve profits. Innovation in material science is another central theme, as companies are developing new or improved composite materials and recycling techniques to meet evolving end-user expectations.