Europe Fiber-reinforced Plastic (Frp) Recycling Market Forecast Analysis 2024-2032

Europe Fiber-reinforced Plastic (Frp) Recycling Market Forecast Analysis 2024-2032

Based on Triton’s research report, the Europe fiber-reinforced plastic (FRP) recycling market is estimated to advance at a CAGR of 8.14% in revenue and 7.58% in volume over the forecast years 2024-2032.

Consumer demand for sustainable products is increasing across Europe, prompting companies to focus on environmental responsibility. By incorporating recycled fiber-reinforced plastic (FRP) materials, manufacturers align with these expectations as well as stand out in the market and strengthen their brand reputation. The European Union has been at the forefront of promoting sustainability through legislation and policy frameworks, such as the European Green Deal and the Circular Economy Action Plan. These initiatives aim to reduce waste and promote recycling across various industries. The EU’s emphasis on recycling and reuse aligns with its broader objectives to achieve carbon neutrality by 2050, thereby providing a significant push for the development of efficient fiber-reinforced plastic (FRP) recycling techniques.

The countries reviewed in the given region include UK, Germany, Spain, Italy, France, the Netherlands, and Rest of Europe.

Germany leads the market with the highest share, acquiring around $53.90 million in 2023

The fiber-reinforced plastic recycling market in Germany is expanding due to the increasing demand for sustainable materials and circular economy practices. FRP materials, which are commonly used in the automotive, aerospace, and construction industries, are being recycled to reduce waste and conserve resources.

The German government has implemented various initiatives to support the growth of the FRP recycling market. One such initiative is the Resource Efficiency Program, which aims to improve the efficiency of material usage and encourage recycling across various industries.

The German Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV) has also launched funding programs for innovative recycling technologies to support the transition towards a circular economy.

Market Forecast for The Netherlands

Several initiatives and a strong focus on circular economy principles support the fiber-reinforced plastic (FRP) recycling market in the Netherlands. One significant driver is the increasing demand from the construction sector, where recycled FRPs are used as alternatives to traditional building materials like steel and concrete. Additionally, the Netherlands is backing innovative recycling solutions via initiatives such as the Circular Plastics Fund. This fund, supported by the European Investment Fund, aims to enhance the recycling infrastructure by providing financial support to companies developing advanced recycling technologies. Such initiatives thus create demand for recycled FRP materials, thereby driving the studied market.

The market’s report is branched into recycling technique, product type, and end-user. The recycling technique is divided into thermal/chemical recycling, mechanical recycling, and incineration & co-incineration.

The thermal recycling technique is at the forefront of tackling the complex challenges of reclaiming fiber-reinforced plastic (FRP) materials. This method is crucial in FRP waste management, efficiently breaking down the polymer matrix to recover valuable components such as fibers and resins. A key application of this recycling technique is in carbon fiber-reinforced polymer (CFRP) materials.

Contender Analysis in the Fiber-Reinforced Plastic (FRP) Recycling Market:

Gen 2 Carbon Limited specializes in manufacturing and distributing recycled carbon fibers. Established by the former ELG management, the company focuses on advancing the recycled carbon fiber industry, particularly in the composites sector. The company’s products play a crucial role in creating high-performance materials used in various applications, including airplane cabin interiors, durable thermoplastic casings, and wind energy components.

Other companies in the FRP recycling market consist of Global Fiberglass Solutions, Toray Industries Inc, Mitsubishi Chemical Group Corporation, and MCR Mixt Composites Recyclables.

EUROPE FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032.pdf