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 Market Research’s estimates suggest that the Latin America fiber-reinforced plastic (FRP) recycling market is set to witness growth at a CAGR of 7.52% and 7.14% in revenue and volume, respectively, over the forecast years 2024-2032.
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Fiber-reinforced plastic (FRP) recycling in Latin America is gradually gaining attention as countries in the region begin to recognize the environmental challenges posed by these materials. Although recycling of FRP, particularly from end-of-life products such as boats, wind turbine blades, and automotive parts, remains limited due to the complexity and cost of recycling processes, there are emerging initiatives aimed at addressing these challenges. For example, Brazil and Mexico are exploring advanced recycling technologies and developing public-private partnerships to foster a circular economy in the composites sector. In Brazil, the National Solid Waste Policy provides a framework for managing solid waste. The initiative aims to encourage innovation in recycling technologies and support infrastructure development, which could augment the FRP recycling market’s growth.
The countries reviewed in this region include:
Mexico dominates the region’s market, accounting for around $8.55 million in 2023
Mexico City is leading initiatives to tackle plastic waste, including fiber-reinforced plastics. The city has joined the Global Plastic Action Partnership (GPAP), an initiative of the World Economic Forum (WEF) aimed at transitioning towards a circular economy by reducing plastic pollution.
The partnership involves various stakeholders, including government bodies, the private sector, and civil society, working together to develop a roadmap for reducing plastic waste.
Enhancing recycling infrastructure and policies, particularly focusing on materials like fiber-reinforced plastics, could significantly improve the recycling rates and drive market growth.
Market Forecast for Brazil
One of the significant steps taken by the Brazilian government is the strengthening of its national solid waste policy. This includes the introduction of the ‘Atlas of Energy Potential of Solid Waste,’ which aims to utilize solid waste for energy production, highlighting the potential for recycling materials like fiber-reinforced plastics. The government’s ‘National Solid Waste Plan,’ which had been awaiting regulation for a decade, is now set to be a cornerstone for green investments, particularly in recycling and reuse of materials​. Hence, these factors are expected to widen the scope of the fiber-reinforced plastic (FRP) recycling market.
The market is sectioned in terms of product type, end-user, and recycling technique. The product type segment includes carbon and glass-fiber-reinforced plastics.
Carbon-fiber-reinforced plastics (CFRPs) are a significant innovation in composite engineering, utilizing carbon fibers within an epoxy resin matrix. These advanced materials are widely used in industries such as aerospace, construction, automotive, sports, consumer goods, and wind energy. Their appeal lies in their exceptional qualities, including high tensile strength, stiffness, thermal and chemical resistance, and minimal thermal expansion.
Contender Analysis in the Fiber-Reinforced Plastic (FRP) Recycling Market:
Mitsubishi Chemical Group Corporation is a leading chemical company with a diverse portfolio. It offers a wide range of products and services, including advanced polymers, high-performance chemicals, films, moldings, composites, petrochemicals, etc., for environmental and living needs. The company also specializes in ethical pharmaceuticals, diagnostic reagents and instruments, pharmaceutical equipment and capsules, active pharmaceutical ingredients, and self-health check services. MCGC serves various industries such as mobility, environmental and renewable energy, information technology, electronics and display, medical, food and biotechnology, packaging, labeling, and healthcare. The company has operations across multiple regions, including Latin America.
Mitsubishi Chemical’s carbon fiber reinforced plastics division addresses environmental challenges by offering high-performance materials that support global sustainability. By replacing traditional materials in aircraft and automobiles, carbon fiber-reinforced plastics significantly reduce weight, leading to improved fuel efficiency.
Other companies in the market consist of Gen 2 Carbon Limited, Carbon Fiber Recycling, Global Fiberglass Solutions, Mitsubishi Chemical Group Corporation, and Carbon Conversions.
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) market revenue growth in Latin America 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 LA 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. LATIN
AMERICA 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. LATIN
AMERICA 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. LATIN
AMERICA 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. LATIN
AMERICA 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. LATIN
AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY COUNTRY OUTLOOK (IN
$ MILLION & IN TONS)
6.1. LATIN
AMERICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. BRAZIL
6.1.1.1.1. BRAZIL
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.2. MEXICO
6.1.1.2.1. MEXICO
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.3. REST
OF LATIN AMERICA
6.1.1.3.1. REST
OF LATIN AMERICA 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: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN $ MILLION)
TABLE 2: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE 3: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN TONS)
TABLE 4: LATIN AMERICA
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: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN
$ MILLION)
TABLE 8: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN
TONS)
TABLE 9: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE,
2024-2032 (IN $ MILLION)
TABLE 10: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2024-2032 (IN $
MILLION)
TABLE 11: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN $ MILLION)
TABLE 12: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE 13: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN TONS)
TABLE 14: LATIN AMERICA
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: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2023 &
2032 (IN %)
FIGURE 5: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY GLASS-FIBER-REINFORCED
PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 6: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY CARBON-FIBER-REINFORCED
PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 7: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2023
& 2032 (IN %)
FIGURE 8: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY THERMAL/CHEMICAL RECYCLING,
2024-2032 (IN $ MILLION)
FIGURE 9: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INCINERATION AND CO-INCINERATION,
2024-2032 (IN $ MILLION)
FIGURE 10: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY MECHANICAL RECYCLING (SIZE
REDUCTION), 2024-2032 (IN $ MILLION)
FIGURE 11: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2023 & 2032
(IN %)
FIGURE 12: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INDUSTRIAL, 2024-2032 (IN $
MILLION)
FIGURE 13: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY TRANSPORTATION, 2024-2032
(IN $ MILLION)
FIGURE 14: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY BUILDING AND CONSTRUCTION,
2024-2032 (IN $ MILLION)
FIGURE 15: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY SPORTS, 2024-2032 (IN $
MILLION)
FIGURE 16: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY OTHER END-USERS, 2024-2032
(IN $ MILLION)
FIGURE 17: LATIN AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, 2023 &
2032 (IN %)
FIGURE 18: BRAZIL
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 19: MEXICO
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 20: REST OF LATIN
AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $
MILLION)