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 North America fiber-reinforced plastic (FRP) recycling market is set for revenue and volume growth at a CAGR of 8.21% and 7.62%, respectively, over the forecast years 2024-2032.
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The fiber-reinforced plastic recycling market in North America is gaining traction, supported by various government initiatives aimed at enhancing recycling efforts and reducing plastic pollution. The US Environmental Protection Agency (EPA) has released a ‘National Strategy to Prevent Plastic Pollution,’ which focuses on reducing plastic waste, improving recycling infrastructure, and encouraging the circular economy approach to plastic management. This strategy aims to address plastic pollution across the entire lifecycle—from production to disposal—by implementing policies to minimize the release of plastics into the environment and promoting the recycling of materials like fiber-reinforced plastics.
The countries analyzed in this region include:
The United States spearheads the market with the highest share, accounting for $127.59 million in 2023
The US Department of Energy (DOE), through the National Renewable Energy Laboratory (NREL), launched a Wind Turbine Materials Recycling Prize as part of the American-Made Challenges program.
This initiative focuses on developing cost-effective and sustainable recycling solutions for wind turbine materials, specifically targeting fiber-reinforced composites like carbon fiber and fiberglass used in turbine blades.
Additionally, the DOE announced a significant investment to enhance R&D in plastics recycling technologies. Such initiatives support the broader goal of reducing plastic waste, cutting down on industrial energy use, and promoting a circular economy.
Market Forecast for Canada
The fiber-reinforced plastic (FRP) recycling market in Canada is gradually gaining attention due to growing environmental concerns and government initiatives. One significant initiative supporting this market is the Government of Canada’s commitment to the Oceans Protection Plan. This plan includes efforts to recycle Glass Fiber Reinforced Plastics (GFRP) from vessel hulls. The government has developed three proofs-of-concept for recycling GFRP, focusing on novel solutions that retain reusable material without emitting greenhouse gases. This work is part of a broader strategy to prevent and significantly reduce marine pollution by 2025, aligning with the Sustainable Development Goals (SDG) set by the United Nations.
The market is sectioned into end-user, product type, and recycling technique. Based on end-user, it is segmented into industrial, building and construction, transportation, sports, and other end-users.
Fiber-reinforced plastics (FRPs) play a crucial role in transportation, offering lightweight yet durable solutions for automobiles, marine vessels, and aerospace components. The recycling of FRPs produces materials that maintain the strength and resilience of their original form, making them invaluable in various transportation applications. In the automotive industry, recycled FRPs are used in body panels, spoilers, and bumpers, enhancing both sustainability and performance.
Contender Analysis in the Fiber-Reinforced Plastic (FRP) Recycling Market:
Carbon Fiber Recycling specializes in reclaiming carbon fibers, operating a dedicated facility in Tazewell, Virginia. The company caters to the concrete industry and manufacturers of carbon fiber pellets, which are used in composite products. In addition to recycling, Carbon Fiber Recycling licenses its technology and equipment to businesses generating significant carbon fiber waste, helping them implement sustainable recycling practices.
Other major enterprises in the market consist of Conenor Ltd, Carbon Fiber Recycle Industry Co Ltd, Gen 2 Carbon Limited, 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 North America 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 NA fiber-reinforced plastic (FRP) recycling market’s growth during the upcoming years
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VIEW REPORT1. NORTH
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. NORTH
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. NORTH
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. NORTH
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. NORTH
AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY COUNTRY OUTLOOK (IN
$ MILLION & IN TONS)
6.1. NORTH
AMERICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. UNITED
STATES
6.1.1.1.1. UNITED
STATES FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST &
PROSPECTS
6.1.1.2. CANADA
6.1.1.2.1. CANADA
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: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN $ MILLION)
TABLE 2: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE 3: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN TONS)
TABLE 4: NORTH 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: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN
$ MILLION)
TABLE 8: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN
TONS)
TABLE 9: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE,
2024-2032 (IN $ MILLION)
TABLE 10: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2024-2032 (IN $
MILLION)
TABLE 11: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK,
HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 12: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE 13: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN TONS)
TABLE 14: NORTH 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: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2023 &
2032 (IN %)
FIGURE 5: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY GLASS-FIBER-REINFORCED
PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 6: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY CARBON-FIBER-REINFORCED
PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 7: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2023
& 2032 (IN %)
FIGURE 8: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY THERMAL/CHEMICAL RECYCLING,
2024-2032 (IN $ MILLION)
FIGURE 9: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INCINERATION AND CO-INCINERATION,
2024-2032 (IN $ MILLION)
FIGURE 10: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY MECHANICAL RECYCLING (SIZE
REDUCTION), 2024-2032 (IN $ MILLION)
FIGURE 11: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2023 & 2032
(IN %)
FIGURE 12: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INDUSTRIAL, 2024-2032 (IN $
MILLION)
FIGURE 13: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY TRANSPORTATION, 2024-2032
(IN $ MILLION)
FIGURE 14: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY BUILDING AND CONSTRUCTION,
2024-2032 (IN $ MILLION)
FIGURE 15: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY SPORTS, 2024-2032 (IN $
MILLION)
FIGURE 16: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY OTHER END-USERS, 2024-2032
(IN $ MILLION)
FIGURE 17: NORTH AMERICA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, 2023 &
2032 (IN %)
FIGURE 18: UNITED STATES
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 19: CANADA
FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)