The Global Fiber-Reinforced Plastic (FRP) Recycling Market size is expected to grow from 104.71 kilotons in 2023 to 163.63 kilotons by 2028, at a CAGR of 9.34% during the forecast period (2023-2028).
The COVID-19 pandemic adversely impacted the market in 2020 due to various trade and operational restrictions. However, after the loosening of restrictions and retracting the pandemic in the latter half of 2021, the market recorded a positive growth rate due to the increased use of recycled fiber plastic composites in various end-user industries, such as automotive, building and construction, and others.
The fiber-reinforced plastic (FRP) recycling market is highly fragmented. Major recycling companies partner with composites and OEM manufacturers to collect and recycle the waste. Some major recycling companies (not in a particular order) include Toray Industries Inc., Vartega Inc., Gen 2 Carbon Limited, Ucomposites AS, and Carbon Conversions.
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