The ‘Global, Size, Share, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global recycled glass market, assessing the market on the basis of its segments like product, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Recycled Glass Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.70%
The rising demand for recycled glass for highway construction, drainage and pipe bedding material is a key factor driving the growth of the recycled glass market. Further, there is a growing demand for recycled glass in the pharmaceutical industry, due to the increasing adoption of recycled bottles and containers for storing medicines. Fibre glass applications of recycled glass are expected to witness robust increase in demand, owing to their applications in sectors such as beverages and manufacturing due to their lightweight nature and properties like electric insulation and low thermal conductivity.
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Moreover, the increasing usage of recycled glass for household and commercial purposes such as windows, tables, and drinking glasses has bolstered the growth of this market. Recycled glass can also be used to produce high strength, water resistant materials which are further used in areas of high-footfall like petrol stations, airports and for industrial flooring. Cullet products of the recycled glass market are particularly expected to witness a surge in demand due to their usage as an additive to clay for brick making, to make mosaic tiles, and as a landfill cover.
Recycled Glass Industry Definition and Major Segments
Recycled glass refers to the products obtained after recycling old, waste glass. They can be used in various industries including automotive, healthcare, construction, and aerospace and defence. For the purpose of recycling, old waste glass is crushed, bent, and melted together with sand and other materials, before remoulding it create new usable products like flat glass, fibre glass and highway beads.
On the basis of product, the market is segmented into:
• Crushed glass
• Glass powder
Based on application, the market is divided into:
• Highway beads
• Flat glass
• Fibre glass
• Bottle and Container
On the basis of region, the market is differentiated into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Recycled Glass Market Trends
With rapid industrialisation, landfills of waste have been generated, surging the demand for recycled products ultimately leading to the growth of the recycled glass market. The rising awareness among consumers worldwide regarding the adoption of eco-friendly products and greater establishments of glass recycling plants are the key trends observed in this market. Initiatives taken by the governments of various countries to reduce air and water pollution and reduce wastage of resources has created a favourable atmosphere for the growth of the market for recycled glass.
The recycled glass market is projected to witness expansion as the recycling process saves about 30% energy during the manufacturing process and tremendously reduces carbon emissions. The growing demand for glass cullets to enable bottle-to-bottle recycling is likely to enhance the growth of this market. In order to minimise the usage of single-use plastics, recycled glass has become an attractive option for numerous applications, thus leading to the expansion of the market for recycled glass. The rising demand for decorative glass items for making DIY projects and for aesthetic enhancements while constructing buildings, driveways and floors, has further added to the burgeoning demand for recycled glass.
Key Market Players
The major players in the global recycled glass market report are
• Strategic Materials, Inc
• Vetropack Holding Ltd.
• Momentum Recycling, LLC
• Dlubak Glass Company
• O-I Glass, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.