Summary

Triton Market Research’s estimates suggest that the Latin America fiber-reinforced plastic (FRP) recycling market is set to witness growth at a CAGR of 7.52% and 7.14% in revenue and volume, respectively, over the forecast years 2024-2032.
Fiber-reinforced plastic (FRP) recycling in Latin America is gradually gaining attention as countries in the region begin to recognize the environmental challenges posed by these materials. Although recycling of FRP, particularly from end-of-life products such as boats, wind turbine blades, and automotive parts, remains limited due to the complexity and cost of recycling processes, there are emerging initiatives aimed at addressing these challenges. For example, Brazil and Mexico are exploring advanced recycling technologies and developing public-private partnerships to foster a circular economy in the composites sector. In Brazil, the National Solid Waste Policy provides a framework for managing solid waste. The initiative aims to encourage innovation in recycling technologies and support infrastructure development, which could augment the FRP recycling market’s growth.
The countries reviewed in this region include Brazil, Mexico, and Rest of Latin America.
Mexico dominates the region’s market, accounting for around $8.55 million in 2023
● Mexico City is leading initiatives to tackle plastic waste, including fiber-reinforced plastics. The city has joined the Global Plastic Action Partnership (GPAP), an initiative of the World Economic Forum (WEF) aimed at transitioning towards a circular economy by reducing plastic pollution.

● The partnership involves various stakeholders, including government bodies, the private sector, and civil society, working together to develop a roadmap for reducing plastic waste.

● Enhancing recycling infrastructure and policies, particularly focusing on materials like fiber-reinforced plastics, could significantly improve the recycling rates and drive market growth.
Market Forecast for Brazil
One of the significant steps taken by the Brazilian government is the strengthening of its national solid waste policy. This includes the introduction of the ‘Atlas of Energy Potential of Solid Waste,’ which aims to utilize solid waste for energy production, highlighting the potential for recycling materials like fiber-reinforced plastics. The government’s ‘National Solid Waste Plan,’ which had been awaiting regulation for a decade, is now set to be a cornerstone for green investments, particularly in recycling and reuse of materials. Hence, these factors are expected to widen the scope of the fiber-reinforced plastic (FRP) recycling market.
The market is sectioned in terms of product type, end-user, and recycling technique. The product type segment includes carbon and glass-fiber-reinforced plastics.
Carbon-fiber-reinforced plastics (CFRPs) are a significant innovation in composite engineering, utilizing carbon fibers within an epoxy resin matrix. These advanced materials are widely used in industries such as aerospace, construction, automotive, sports, consumer goods, and wind energy. Their appeal lies in their exceptional qualities, including high tensile strength, stiffness, thermal and chemical resistance, and minimal thermal expansion.
Contender Analysis in the Fiber-Reinforced Plastic (FRP) Recycling Market:
Mitsubishi Chemical Group Corporation is a leading chemical company with a diverse portfolio. It offers a wide range of products and services, including advanced polymers, high-performance chemicals, films, moldings, composites, petrochemicals, etc., for environmental and living needs. The company also specializes in ethical pharmaceuticals, diagnostic reagents and instruments, pharmaceutical equipment and capsules, active pharmaceutical ingredients, and self-health check services. MCGC serves various industries such as mobility, environmental and renewable energy, information technology, electronics and display, medical, food and biotechnology, packaging, labeling, and healthcare. The company has operations across multiple regions, including Latin America.
Mitsubishi Chemical’s carbon fiber reinforced plastics division addresses environmental challenges by offering high-performance materials that support global sustainability. By replacing traditional materials in aircraft and automobiles, carbon fiber-reinforced plastics significantly reduce weight, leading to improved fuel efficiency.
Other companies in the market consist of Gen 2 Carbon Limited, Carbon Fiber Recycling, Global Fiberglass Solutions, Mitsubishi Chemical Group Corporation, and Carbon Conversions.

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Table of Contents

TABLE OF CONTENTS
1. LATIN AMERICA 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. LATIN AMERICA 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. LATIN AMERICA 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. LATIN AMERICA 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. LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET – BY COUNTRY OUTLOOK (IN $ MILLION & IN TONS)
6.1. LATIN AMERICA
6.1.1. COUNTRY ANALYSIS
6.1.1.1. BRAZIL
6.1.1.1.1. BRAZIL FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.2. MEXICO
6.1.1.2.1. MEXICO FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET FORECAST & PROSPECTS
6.1.1.3. REST OF LATIN AMERICA
6.1.1.3.1. REST OF LATIN AMERICA 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: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 2: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 3: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN TONS)
TABLE 4: LATIN AMERICA 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: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN $ MILLION)
TABLE 8: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2024-2032 (IN TONS)
TABLE 9: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2024-2032 (IN $ MILLION)
TABLE 10: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2024-2032 (IN $ MILLION)
TABLE 11: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 12: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 13: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN TONS)
TABLE 14: LATIN AMERICA 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: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY PRODUCT TYPE, 2023 & 2032 (IN %)
FIGURE 5: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY GLASS-FIBER-REINFORCED PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 6: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY CARBON-FIBER-REINFORCED PLASTIC, 2024-2032 (IN $ MILLION)
FIGURE 7: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY RECYCLING TECHNIQUE, 2023 & 2032 (IN %)
FIGURE 8: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY THERMAL/CHEMICAL RECYCLING, 2024-2032 (IN $ MILLION)
FIGURE 9: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INCINERATION AND CO-INCINERATION, 2024-2032 (IN $ MILLION)
FIGURE 10: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY MECHANICAL RECYCLING (SIZE REDUCTION), 2024-2032 (IN $ MILLION)
FIGURE 11: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY END-USER, 2023 & 2032 (IN %)
FIGURE 12: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 13: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY TRANSPORTATION, 2024-2032 (IN $ MILLION)
FIGURE 14: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY BUILDING AND CONSTRUCTION, 2024-2032 (IN $ MILLION)
FIGURE 15: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY SPORTS, 2024-2032 (IN $ MILLION)
FIGURE 16: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY OTHER END-USERS, 2024-2032 (IN $ MILLION)
FIGURE 17: LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 18: BRAZIL FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 19: MEXICO FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)
FIGURE 20: REST OF LATIN AMERICA FIBER-REINFORCED PLASTIC (FRP) RECYCLING MARKET 2024-2032 (IN $ MILLION)