Global Fiber-Reinforced Plastics Market Size Study, by Product Type, by Recycling Technique (Thermal/Chemical Recycling, Incineration, and Co-incineration, and Mechanical Recycling ), by End-User Industry, and Regional Forecasts 2022-2032

Description

The Global Fiber-Reinforced Plastics (FRP) Market was valued at approximately 104.71 million tons in 2023 and is anticipated to expand at a CAGR of 9.34% over the forecast period from 2024 to 2032. The surge in demand for lightweight, durable, and high-strength materials across industries such as automotive, aerospace, construction, and sports equipment manufacturing has propelled the market's growth. These advanced composites offer exceptional mechanical properties, corrosion resistance, and superior design flexibility, making them indispensable in numerous industrial applications.

The transition toward sustainable and recyclable FRP solutions has gained significant traction as companies emphasize reducing their environmental footprint. Innovations in mechanical and chemical recycling techniques are being explored to address concerns regarding the recyclability of fiber-reinforced composites, particularly in the transportation and aerospace industries. Additionally, the adoption of carbon fiber-reinforced plastics (CFRP) has surged in high-performance sectors due to their superior strength-to-weight ratio and energy-efficient properties. However, challenges such as high production costs, complex manufacturing processes, and difficulties in recycling composites may restrain the market's growth. Nonetheless, advancements in bio-based resins and thermoplastic composites are expected to create lucrative opportunities for market expansion.

From a regional perspective, North America dominates the FRP market, driven by high adoption in the automotive and construction sectors, along with strong government regulations favoring lightweight and fuel-efficient materials. The United States plays a pivotal role in this growth due to its significant R&D investments in aerospace and industrial applications. Europe follows closely, supported by sustainability-driven policies and increased usage of composite materials in wind energy and transportation infrastructure.

The Asia-Pacific region is projected to exhibit the fastest growth, fueled by rapid urbanization, booming infrastructure projects, and the expanding automotive and electronics industries in China, India, Japan, and South Korea. Meanwhile, Latin America and the Middle East & Africa are emerging as potential markets, benefiting from increasing investments in industrial and construction sectors, as well as advancements in sports equipment manufacturing.

Major Market Players Included in This Report:

Toray Industries, Inc.
Owens Corning
Teijin Limited
Hexcel Corporation
SGL Carbon
Mitsubishi Chemical Corporation
Solvay S.A.
BASF SE
Cytec Solvay Group
Formosa Plastics Corporation
Gurit Holding AG
Huntsman Corporation
Strongwell Corporation
U.S. Liner Company
AGY Holding Corp

The Detailed Segments and Sub-Segments of the Market Are Explained Below:

By Product Type:

Glass Fiber-Reinforced Plastic
Carbon Fiber-Reinforced Plastic
Other Product Types

By Recycling Technique:

Thermal/Chemical Recycling
Incineration and Co-incineration
Mechanical Recycling (Size Reduction)

By End-User Industry:

Industrial
Transportation
Building and Construction
Sports
Other End-User Industries

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Market estimates & forecasts for 10 years (2022-2032).
Annualized revenue breakdown and regional-level analysis for each market segment.
Detailed geographical assessment with country-level insights.
Competitive landscape overview with company profiles and key market strategies.
Analysis of key business trends and recommendations for market players.
Evaluation of market structure and competition in the fiber-reinforced plastics industry.
Demand-side and supply-side dynamics analysis.

Chapter 1. Global Fiber-Reinforced Plastics Market Executive Summary

1.1. Global Fiber-Reinforced Plastics Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product Type
  - 1.3.1.1. Glass Fiber-Reinforced Plastic
  - 1.3.1.2. Carbon Fiber-Reinforced Plastic
  - 1.3.1.3. Other Product Types
- 1.3.2. By Recycling Technique
  - 1.3.2.1. Thermal/Chemical Recycling
  - 1.3.2.2. Incineration and Co-incineration
  - 1.3.2.3. Mechanical Recycling (Size Reduction)
- 1.3.3. By End-User Industry
  - 1.3.3.1. Industrial
  - 1.3.3.2. Transportation
  - 1.3.3.3. Building and Construction
  - 1.3.3.4. Sports
  - 1.3.3.5. Other End-User Industries
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Fiber-Reinforced Plastics Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Fiber-Reinforced Plastics Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Lightweight, High-Strength Materials in Multiple Industries
- 3.1.2. Advancements in Composite Manufacturing Technologies
- 3.1.3. Growing Emphasis on Sustainable and Recyclable Materials
3.2. Market Challenges
- 3.2.1. High Production Costs and Complex Manufacturing Processes
- 3.2.2. Difficulties in Recycling Composites and Material Compatibility Issues
3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Applications in Automotive, Aerospace, and Construction
- 3.3.2. Innovations in Bio-Based Resins and Thermoplastic Composites
- 3.3.3. Increased Investment in Recycling Technologies and Sustainable Practices

Chapter 4. Global Fiber-Reinforced Plastics Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Fiber-Reinforced Plastics Market Size & Forecasts by Product Type 2022-2032

5.1. Segment Dashboard
5.2. Global Fiber-Reinforced Plastics Market: {Product Type} Revenue Trend Analysis, 2022 & 2032 (Million Tons)
- 5.2.1. Glass Fiber-Reinforced Plastic
- 5.2.2. Carbon Fiber-Reinforced Plastic
- 5.2.3. Other Product Types

Chapter 6. Global Fiber-Reinforced Plastics Market Size & Forecasts by Recycling Technique 2022-2032

6.1. Segment Dashboard
6.2. Global Fiber-Reinforced Plastics Market: {Recycling Technique} Revenue Trend Analysis, 2022 & 2032 (Million Tons)
- 6.2.1. Thermal/Chemical Recycling
- 6.2.2. Incineration and Co-incineration
- 6.2.3. Mechanical Recycling (Size Reduction)

Chapter 7. Global Fiber-Reinforced Plastics Market Size & Forecasts by End-User Industry 2022-2032

7.1. Segment Dashboard
7.2. Global Fiber-Reinforced Plastics Market: {End-User Industry} Revenue Trend Analysis, 2022 & 2032 (Million Tons)
- 7.2.1. Industrial
- 7.2.2. Transportation
- 7.2.3. Building and Construction
- 7.2.4. Sports
- 7.2.5. Other End-User Industries

Chapter 8. Global Fiber-Reinforced Plastics Market Size & Forecasts by Region 2022-2032

8.1. North America Fiber-Reinforced Plastics Market
- 8.1.1. U.S. Fiber-Reinforced Plastics Market
  - 8.1.1.1. {Product Type} Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. {End-User Industry} Breakdown Size & Forecasts, 2022-2032
- 8.1.2. Canada Fiber-Reinforced Plastics Market
8.2. Europe Fiber-Reinforced Plastics Market
- 8.2.1. UK Fiber-Reinforced Plastics Market
- 8.2.2. Germany Fiber-Reinforced Plastics Market
- 8.2.3. France Fiber-Reinforced Plastics Market
- 8.2.4. Spain Fiber-Reinforced Plastics Market
- 8.2.5. Italy Fiber-Reinforced Plastics Market
- 8.2.6. Rest of Europe Fiber-Reinforced Plastics Market
8.3. Asia-Pacific Fiber-Reinforced Plastics Market
- 8.3.1. China Fiber-Reinforced Plastics Market
- 8.3.2. India Fiber-Reinforced Plastics Market
- 8.3.3. Japan Fiber-Reinforced Plastics Market
- 8.3.4. Australia Fiber-Reinforced Plastics Market
- 8.3.5. South Korea Fiber-Reinforced Plastics Market
- 8.3.6. Rest of Asia-Pacific Fiber-Reinforced Plastics Market
8.4. Latin America Fiber-Reinforced Plastics Market
- 8.4.1. Brazil Fiber-Reinforced Plastics Market
- 8.4.2. Mexico Fiber-Reinforced Plastics Market
- 8.4.3. Rest of Latin America Fiber-Reinforced Plastics Market
8.5. Middle East & Africa Fiber-Reinforced Plastics Market
- 8.5.1. Saudi Arabia Fiber-Reinforced Plastics Market
- 8.5.2. South Africa Fiber-Reinforced Plastics Market
- 8.5.3. Rest of Middle East & Africa Fiber-Reinforced Plastics Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Toray Industries, Inc.
- 9.1.2. Owens Corning
- 9.1.3. Teijin Limited
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Toray Industries, Inc.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Owens Corning
- 9.3.3. Teijin Limited
- 9.3.4. Hexcel Corporation
- 9.3.5. SGL Carbon
- 9.3.6. Mitsubishi Chemical Corporation
- 9.3.7. Solvay S.A.
- 9.3.8. BASF SE
- 9.3.9. Cytec Solvay Group
- 9.3.10. Formosa Plastics Corporation
- 9.3.11. Gurit Holding AG
- 9.3.12. Huntsman Corporation
- 9.3.13. Strongwell Corporation
- 9.3.14. U.S. Liner Company
- 9.3.15. AGY Holding Corp

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes