Summary

Triton’s research report suggests that the Asia-Pacific fiber-reinforced plastic (FRP) recycling market is estimated to advance in terms of revenue and volume at a CAGR of 7.98% and 7.32%, respectively, over the forecast period 2024-2032.
The Asia-Pacific region’s rapid industrialization and urbanization have driven up the use of FRP materials in sectors like construction, automotive, and electronics. As a result, the increasing volume of FRP waste demands effective recycling solutions to manage waste and mitigate environmental impact. In response, governments across the region are introducing initiatives to encourage sustainable waste management, including FRP recycling. Policies such as extended producer responsibility (EPR) schemes and waste management regulations motivate industries to invest in recycling infrastructure and embrace circular economy principles.
The countries mentioned in this region include India, China, South Korea, Japan, ASEAN Countries, Australia & New Zealand, and Rest of Asia-Pacific.
China captures the highest share in the market, acquiring around $34.99 million in 2023
• China’s efforts in recycling plastic have been substantial. As noted by the State Council of the People’s Republic of China, from 2011 to 2020, China recycled 170 million tons of plastic waste.

• Additionally, in February 2024, the State Council issued guidelines to set up a waste recycling system. By 2025, the aim is to establish a foundational system that spans all areas. And, by 2030, this system will evolve into a comprehensive well-regulated network to ensure that waste resources are fully utilized.

• Further, the National Development and Reform Commission (NDRC) outlined a comprehensive plan in its 2021-2025 five-year plan to enhance plastic recycling and reduce plastic waste leakage into natural environments. These factors thus fuel the growth of the fiber-reinforced plastic recycling market.
Market Forecast for India
The fiber-reinforced plastic (FRP) recycling market in India is gradually gaining momentum, supported by the growing awareness of sustainability and environmental regulations. FRP, widely used in sectors such as automotive, construction, and aerospace for its lightweight and durable properties, poses a significant challenge for waste management due to its non-biodegradable nature. To address this, several initiatives have been launched to support the recycling of FRP materials. For example, the National Green Tribunal has emphasized stricter enforcement of recycling norms, encouraging industries to adopt more sustainable practices.
The market is sectioned based on product type, recycling technique, and end-user. The product type section includes glass and carbon-fiber-reinforced plastics.
Carbon-fiber-reinforced plastics (CFRPs) are an advanced innovation in composite materials, using carbon fibers embedded in an epoxy resin matrix. These materials are widely used in industries such as aerospace, construction, automotive, sports, consumer goods, and wind energy due to their exceptional qualities, including high tensile strength, stiffness, thermal stability, chemical resistance, and minimal thermal expansion.
Contender Analysis in the Fiber-Reinforced Plastic (FRP) Recycling Market:
Aeron Composite Pvt Ltd specializes in manufacturing FRP for both industrial and consumer applications. These products are distinguished by their corrosion resistance, impact durability, lightweight design, ergonomic advantages, longevity, easy installation, etc. Operating from its manufacturing facility in India, the company oversees various stages of production, including raw material inspection, fabrication, testing, and packaging. With a strong presence in both domestic and international markets, Aeron Composite is headquartered in Gujarat, India.
Other notable companies in the FRP recycling market include Carbon Fiber Recycle Industry Co Ltd, Gen 2 Carbon Limited, Carbon Fiber Recycling, and Mitsubishi Chemical Group Corporation.

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Table of Contents

TABLE OF CONTENTS
1. ASIA-PACIFIC 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. ASIA-PACIFIC 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. ASIA-PACIFIC 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. ASIA-PACIFIC 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. ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY COUNTRY OUTLOOK (IN $ MILLION & IN TONS)
6.1. ASIA-PACIFIC
6.1.1. COUNTRY ANALYSIS
6.1.1.1. CHINA
6.1.1.1.1. CHINA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.2. JAPAN
6.1.1.2.1. JAPAN FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.3. INDIA
6.1.1.3.1. INDIA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.4. SOUTH KOREA
6.1.1.4.1. SOUTH KOREA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.5. ASEAN COUNTRIES
6.1.1.5.1. ASEAN COUNTRIES FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.6. AUSTRALIA & NEW ZEALAND
6.1.1.6.1. AUSTRALIA & NEW ZEALAND FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.7. REST OF ASIA-PACIFIC
6.1.1.7.1. REST OF ASIA-PACIFIC 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

LIST OF TABLES
TABLE 1: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 2: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN TONS)
TABLE 4: ASIA-PACIFIC 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: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN TONS)
TABLE 9: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2024-2032 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2024-2032 (IN $ MILLION)
TABLE 11: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 12: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 13: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN TONS)
TABLE 14: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN TONS)

LIST OF FIGURES
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: MARKET MATURITY ANALYSIS
FIGURE 3: SUPPLY CHAIN ANALYSIS
FIGURE 4: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2023 & 2032 (IN %)
FIGURE 5: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY GLASS-FIBER-REINFORCED PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 6: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY CARBON-FIBER-REINFORCED PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 7: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2023 & 2032 (IN %)
FIGURE 8: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY THERMAL/CHEMICAL RECYCLING, 2024-2032 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INCINERATION AND CO-INCINERATION, 2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY MECHANICAL RECYCLING (SIZE REDUCTION), 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2023 & 2032 (IN %)
FIGURE 12: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY TRANSPORTATION, 2024-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY BUILDING AND CONSTRUCTION, 2024-2032 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY SPORTS, 2024-2032 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY OTHER END-USERS, 2024-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 18: CHINA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 19: JAPAN FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 20: INDIA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 21: SOUTH KOREA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 22: ASEAN COUNTRIES FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 23: AUSTRALIA & NEW ZEALAND FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 24: REST OF ASIA-PACIFIC FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)