Fiber Reinforced Plastic (FRP) Recycling Market to grow by USD 54.51 million from 2021 to 2026 | The stringent regulations on the disposal of composites in Europe drive market growth - Technavio

NEW YORK, Aug. 26, 2023 /PRNewswire/ -- The fiber reinforced plastic (FRP) recycling market size is estimated to increase by USD 54.51 million from 2021 to 2026, with a CAGR of 4.49%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The fiber reinforced plastic (FRP) recycling market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

Aeron Composite Pvt. Ltd, Bedford Reinforced Plastics Inc., Carbon Conversions, Carbon Fiber Recycle Industry Co. Ltd, Carbon Fiber Recycling Inc., Conenor Ltd, DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Eco Wolf Inc., Gen 2 Carbon Ltd., Global Fiberglass Solutions, Karborek RCF Srl, MCR Mixt Composites Recyclables, Mitsubishi Chemical Holdings Corp., Neocomp GmbH, PROCOTEX Belgium SA, ReFiber ApS, Strongwell Corp., Toray Industries Inc., Ucomposites AS, and Vartega Inc.

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Fiber reinforced plastic (FRP) recycling market - Segmentation Analysis

The market is segmented by Type (Carbon fiber, Glass fiber, and Others) and Geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• The fiber-reinforced plastic (FRP) recycling market share growth by the carbon fiber segment will be significant during the forecast period. Established metallic structures, such as manipulators, are modified using CFRP, resulting in a reduction in weight and an increase in performance. Carbon fiber is a popular material in aerospace, automotive, and robotics end-use industries because of its load-bearing capability, lightweight, and high fatigue strength. All of these factors combine to increase demand for carbon fiber, boosting global fiber-reinforced plastic (FRP) recycling market growth.

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Fiber reinforced plastic (FRP) recycling market - Market Dynamics

Key Drivers fueling the market growth

Stringent regulations on the disposal of composites in Europe drive the FRP recycling market growth. Due to the strict environmental rules implemented by governments in this region and the Horizon 2020 project, Europe is a leader in composites recycling. For instance, in 2019-2020, the first major wave of composite wind turbines approached their end-of-life (EoL) and got decommissioned. Hence, such sociotechnical pressure will only increase as more countries follow European countries in limiting and banning landfill options and the ever-increasing amount of expired composites EoL waste, which will drive market growth in the coming years.

Fiber reinforced plastic (FRP) recycling market - Regional Analysis
The market is segmented by region Europe, North America, APAC, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• Europe contributes to 42% of the global market growth during the forecast period. Furthermore, factors such as the significant increase in the demand for recycled plastics and composites from major countries such as Germany, Italy, and the UK will facilitate the fiber reinforced plastic (FRP) recycling market growth in Europe over the forecast period. 

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What are the key data covered in this Fiber reinforced plastic (FRP) recycling market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fiber reinforced plastic (FRP) recycling market between 2022 and 2026
• Precise estimation of the size of the fiber reinforced plastic (FRP) recycling market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fiber reinforced plastic (FRP) recycling market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fiber reinforced plastic (FRP) recycling market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by type

7 Market Segmentation by geography

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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