As per Inkwood Research, the Global Fiber-Reinforced Plastic (FRP) Recycling Market is set to grow at a CAGR of 8.19% in terms of revenue and 7.79% in terms of volume during the forecasting period of 2024-2032.
“Browse 59 Market Data Tables and 44
Figures spread over 215 Pages, along with an in-depth TOC on the Global
Fiber-Reinforced Plastic (FRP) Recycling Market Forecast 2024-2032.”
Fiber-reinforced plastic (FRP)
recycling involves reclaiming and reusing materials from products made of FRP
composites.
These composites are composed of a
polymer matrix reinforced with fibers such as glass, carbon, or aramid. The
goal of FRP recycling is to minimize waste and reduce environmental impact by
recovering valuable materials from these products, preventing them from being
discarded in landfills or incinerated.
Stringent Composite Disposal
Regulations Boost Global Market Growth
Stringent composite disposal
regulations are driving significant growth in the global fiber-reinforced
plastic (FRP) recycling market. As governments and regulatory bodies worldwide
increasingly recognize the environmental hazards associated with the disposal
of FRP composites, they are implementing stricter rules to ensure responsible
waste management. These regulations often mandate the recycling and reuse of
materials to reduce landfill waste and minimize the carbon footprint of composite
products.
Consequently, companies are compelled
to adopt more sustainable practices, including investing in advanced recycling
technologies to comply with these regulations. This trend is particularly
evident in industries like automotive, aerospace, and construction, where the
use of FRP composites is prevalent, and the pressure to meet environmental
standards is high. The result is a growing demand for efficient FRP recycling
solutions that not only comply with regulatory requirements but also offer economic
benefits through the recovery of valuable materials, thereby fostering market
expansion.
Glass-Fiber-Reinforced Plastic:
Fastest-Growing Product Type (2024-2032)
Recycling glass-fiber-reinforced
plastic (GFRP) is essential for mitigating the environmental impact of this
composite material. By employing methods such as sorting, shredding, and
separation, GFRP waste can be converted into reusable materials, thereby
decreasing the reliance on virgin resources and reducing landfill waste. The
GFRP recycling market is experiencing growth due to increasingly stringent
environmental regulations, a rising awareness of sustainability concerns, and
advancements in recycling technologies.
Europe: Highest Market Share by 2032
European countries such as Germany and
France enforce strict regulations on waste disposal, compelling companies to
adopt sustainable practices like FRP recycling, as landfilling FRP waste is
often prohibited. The European Union (EU) emphasizes a shift towards a circular
economy, where resources are utilized for as long as possible, which fosters
innovation and drives investment in recycling technologies, including FRP
recycling. In addition, some of the major players operating in the global
market include Global Fiberglass Solutions, MCR Mixt Composites Recyclables,
Mitsubishi Chemical Group Corp (MCGC), etc.
Related Reports:
BUILDING AND CONSTRUCTION PLASTICS
MARKET
CONSTRUCTION COMPOSITES MARKET
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