Market by Product Type (Glass-Fiber Reinforced Plastic, Carbon-Fiber Reinforced Plastic) Recycling Technique (Thermal/Chemical Recycling, Incineration and Co-incineration, Mechanical Recycling (Size Reduction)) End-user (Industrial, Transportation, Building and Construction, Sports, Other End-Users) and Country Outlook | Forecast 2024-2032
Triton’s research report suggests that the Asia-Pacific fiber-reinforced plastic (FRP) recycling market is estimated to advance in terms of revenue and volume at a CAGR of 7.98% and 7.32%, respectively, over the forecast period 2024-2032.
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The Asia-Pacific region’s rapid industrialization and urbanization have driven up the use of FRP materials in sectors like construction, automotive, and electronics. As a result, the increasing volume of FRP waste demands effective recycling solutions to manage waste and mitigate environmental impact. In response, governments across the region are introducing initiatives to encourage sustainable waste management, including FRP recycling. Policies such as extended producer responsibility (EPR) schemes and waste management regulations motivate industries to invest in recycling infrastructure and embrace circular economy principles.
Additionally, some fiber-reinforced plastics manufacturers have launched take-back programs to collect and recycle FRP waste from customers, turning it into new products. These initiatives reduce waste and support a circular economy within the industry.
The countries mentioned in this region include:
China captures the highest share in the market, acquiring around $34.99 million in 2023
China’s efforts in recycling plastic have been substantial. As noted by the State Council of the People’s Republic of China, from 2011 to 2020, China recycled 170 million tons of plastic waste.
Additionally, in February 2024, the State Council issued guidelines to set up a waste recycling system. By 2025, the aim is to establish a foundational system that spans all areas. And, by 2030, this system will evolve into a comprehensive well-regulated network to ensure that waste resources are fully utilized.
Further, the National Development and Reform Commission (NDRC) outlined a comprehensive plan in its 2021-2025 five-year plan to enhance plastic recycling and reduce plastic waste leakage into natural environments. These factors thus fuel the growth of the fiber-reinforced plastic recycling market.
Market Forecast for India
The fiber-reinforced plastic (FRP) recycling market in India is gradually gaining momentum, supported by the growing awareness of sustainability and environmental regulations. FRP, widely used in sectors such as automotive, construction, and aerospace for its lightweight and durable properties, poses a significant challenge for waste management due to its non-biodegradable nature. To address this, several initiatives have been launched to support the recycling of FRP materials. For example, the National Green Tribunal has emphasized stricter enforcement of recycling norms, encouraging industries to adopt more sustainable practices. Additionally, public-private partnerships are emerging to develop advanced recycling technologies, such as mechanical and chemical recycling, to recover valuable fibers and resins from FRP waste.
The market is sectioned based on product type, recycling technique, and end-user. The product type section includes glass and carbon-fiber-reinforced plastics.
Carbon-fiber-reinforced plastics (CFRPs) are an advanced innovation in composite materials, using carbon fibers embedded in an epoxy resin matrix. These materials are widely used in industries such as aerospace, construction, automotive, sports, consumer goods, and wind energy due to their exceptional qualities, including high tensile strength, stiffness, thermal stability, chemical resistance, and minimal thermal expansion.
Contender Analysis in the Fiber-Reinforced Plastic (FRP) Recycling Market:
Aeron Composite Pvt Ltd specializes in manufacturing FRP for both industrial and consumer applications. These products are distinguished by their corrosion resistance, impact durability, lightweight design, ergonomic advantages, longevity, easy installation, etc. Operating from its manufacturing facility in India, the company oversees various stages of production, including raw material inspection, fabrication, testing, and packaging. With a strong presence in both domestic and international markets, Aeron Composite is headquartered in Gujarat, India.
Other notable companies in the FRP recycling market include Carbon Fiber Recycle Industry Co Ltd, Gen 2 Carbon Limited, Carbon Fiber Recycling, and Mitsubishi Chemical Group Corporation.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the fiber-reinforced plastic (FRP) recycling market revenue growth in the Asia-Pacific and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the APAC fiber-reinforced plastic (FRP) recycling market’s growth during the upcoming years
Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET
2.1.1. COVID-19
IMPACT
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
MATURITY ANALYSIS
2.4. SUPPLY
CHAIN ANALYSIS
2.4.1. RAW
MATERIALS
2.4.2. RECYCLING
AND DISPOSAL TECHNIQUE
2.4.3. END
PRODUCT
2.4.4. APPLICATIONS
2.5. KEY
MARKET STRATEGIES
2.5.1. PRODUCT
LAUNCHES
2.5.2. COLLABORATIONS
2.6. MARKET
DRIVERS
2.6.1. INCREASING
ACCUMULATION OF COMPOSITE WASTE
2.6.2. TIGHTENING
REGULATIONS ON COMPOSITE DISPOSAL
2.6.3. INNOVATIVE
CAMPAIGNS FOR CFRP REUTILIZATION
2.6.4. RISING
ENVIRONMENTAL CONSCIOUSNESS
2.7. MARKET
CHALLENGES
2.7.1. LIMITED
RECYCLING TECHNIQUES FOR CFRP AND THE COMPLEX PROCESS OF FRP RECYCLING
2.7.2. LACK
OF AWARENESS ABOUT CFRP RECYCLING
2.8. MARKET
OPPORTUNITIES
2.8.1. GROWTH
IN PRODUCTS MADE FROM RECYCLED FIBER-REINFORCED PLASTICS
2.8.2. INNOVATIONS
IN COMPOSITE RECYCLING
2.8.3. RESEARCH
AND DEVELOPMENT TRENDS INFLUENCING FRP RECYCLING
2.9. ANALYST
PERSPECTIVE
3. ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY PRODUCT TYPE (IN $ MILLION
& IN TONS)
3.1. GLASS-FIBER-REINFORCED
PLASTIC
3.2. CARBON-FIBER-REINFORCED
PLASTIC
4. ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY RECYCLING TECHNIQUE (IN $
MILLION)
4.1. THERMAL/CHEMICAL
RECYCLING
4.2. INCINERATION
AND CO-INCINERATION
4.3. MECHANICAL
RECYCLING (SIZE REDUCTION)
5. ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY END-USER (IN $ MILLION)
5.1. INDUSTRIAL
5.2. TRANSPORTATION
5.3. BUILDING
AND CONSTRUCTION
5.4. SPORTS
5.5. OTHER
END-USERS
6. ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY COUNTRY OUTLOOK (IN $
MILLION & IN TONS)
6.1. ASIA-PACIFIC
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. CHINA
6.1.1.1.1. CHINA FIBER-REINFORCED
PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.2. JAPAN
6.1.1.2.1. JAPAN FIBER-REINFORCED
PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.3. INDIA
6.1.1.3.1. INDIA FIBER-REINFORCED
PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.4. SOUTH
KOREA
6.1.1.4.1. SOUTH
KOREA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST &
PROSPECTS
6.1.1.5. ASEAN
COUNTRIES
6.1.1.5.1. ASEAN
COUNTRIES FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST &
PROSPECTS
6.1.1.6. AUSTRALIA
& NEW ZEALAND
6.1.1.6.1. AUSTRALIA
& NEW ZEALAND FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST
& PROSPECTS
6.1.1.7. REST
OF ASIA-PACIFIC
6.1.1.7.1. REST
OF ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST &
PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. CARBON
CONVERSIONS
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.2. AERON
COMPOSITE PVT LTD
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.3. CARBON
FIBER RECYCLE INDUSTRY CO LTD
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.4. CONENOR
LTD
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.5. GEN 2
CARBON LIMITED
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.6. CARBON
FIBER RECYCLING
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.7. GLOBAL
FIBERGLASS SOLUTIONS
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.8. MITSUBISHI
CHEMICAL GROUP CORPORATION
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY
STRENGTHS
7.8.4. KEY
CHALLENGES
7.9. MCR
MIXT COMPOSITES RECYCLABLES
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.10. NEOCOMP
GMBH
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.11. PROCOTEX
7.11.1. OVERVIEW
7.11.2. PORTFOLIO
7.12. UCOMPOSITES
A/S
7.12.1. OVERVIEW
7.12.2. PORTFOLIO
7.13. TORAY
INDUSTRIES INC
7.13.1. OVERVIEW
7.13.2. PORTFOLIO
7.13.3. KEY
STRENGTHS
7.13.4. KEY
CHALLENGES
7.14. VARTEGA
INC
7.14.1. OVERVIEW
7.14.2. PORTFOLIO
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN $ MILLION)
TABLE 2: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN TONS)
TABLE 4: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN TONS)
TABLE 5: LIST OF PRODUCT
LAUNCHES
TABLE 6: LIST OF
COLLABORATIONS
TABLE 7: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN
$ MILLION)
TABLE 8: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN
TONS)
TABLE 9: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE,
2024-2032 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2024-2032 (IN $
MILLION)
TABLE 11: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN $ MILLION)
TABLE 12: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE 13: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN TONS)
TABLE 14: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN TONS)
FIGURE 1: PORTER’S FIVE FORCES
ANALYSIS
FIGURE 2: MARKET MATURITY
ANALYSIS
FIGURE 3: SUPPLY CHAIN
ANALYSIS
FIGURE 4: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2023 &
2032 (IN %)
FIGURE 5: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY GLASS-FIBER-REINFORCED
PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 6: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY CARBON-FIBER-REINFORCED
PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 7: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2023
& 2032 (IN %)
FIGURE 8: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY THERMAL/CHEMICAL RECYCLING,
2024-2032 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INCINERATION AND CO-INCINERATION,
2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY MECHANICAL RECYCLING (SIZE
REDUCTION), 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2023 & 2032
(IN %)
FIGURE 12: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INDUSTRIAL, 2024-2032 (IN $
MILLION)
FIGURE 13: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY TRANSPORTATION, 2024-2032
(IN $ MILLION)
FIGURE 14: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY BUILDING AND CONSTRUCTION,
2024-2032 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY SPORTS, 2024-2032 (IN $
MILLION)
FIGURE 16: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY OTHER END-USERS, 2024-2032
(IN $ MILLION)
FIGURE 17: ASIA-PACIFIC
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, 2023 &
2032 (IN %)
FIGURE 18: CHINA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 19: JAPAN
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 20: INDIA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 21: SOUTH KOREA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 22: ASEAN COUNTRIES
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 23: AUSTRALIA & NEW
ZEALAND FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $
MILLION)
FIGURE 24: REST OF
ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $
MILLION)