The growth of the industry may be due to its widespread use in various industrial sectors coupled with the growing concern for the recycling of glass waste to deal with global warming and global climate emergencies.
Covid-19 Impact & Market Status
COVID-19 has the potential to impact the global economy in three ways: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on enterprises and financial markets.
Covid-19 outbreak has been affecting multiple businesses and industries leading to interrupted travel, lockdown, social distancing and the like. These have restricted normal functioning of the businesses and resulted in supply chain anomalies, lack of business co-ordination across vendors and the like.
Glass bottle Segment Type is Accounted for Highest Revenue during the Prediction Period
Glass bottles and containers will occupy a large market share due to its wide acquisition, reusable environment, etc. Increased use of glass bottles and containers by various consumer industries such as food processing, hotels and storage, etc. it will create market growth. of recycled glass for years to come. According to the Container Recycling Institute, the global rate of recycling of glass containers is estimated at 63%. Different laws and deposit standards have been developed in different countries for the reuse of glass bottles. Oregon United States has enacted a law requiring consumers of carbonated beverages to pay ten cents instead of ten cents, as a deposit that will be refunded to anyone who returns a container for recycling. All of these rules and deposit prices generally improve the quality of glass collected for recycling and increase the percentage of glass containers that can be recycled.
Government Initiative to favour the market growth
The government of many countries also has measures in place to bring in waste management and reduce the use of landfill sites. In England, all soft drinks containers, including glass, plastic, or metal, are covered under a government fundraising program. A plan to reduce land and sea pollution by double the refund to consumers who returned bottles and cans was announced. Similar programs apply in 38 countries. For example, India's Department of Environmental Affairs has proposed a framework called the National Resource Efficiency Policy 2019 by introducing a three-year waste management plan in seven sectors that contributes to approximately 25 percent of India's revenue.
Europe Region to Hold the Highest Revenues during the Predicted Period
Europe will produce a demand for more than 21,700 kilograms by 2027 in the global recycled glass market. Europe has produced about half of the global volume by 2020 and will grow slightly during the forecast period. The main reasons for European dominance in the market are the high awareness associated with the reuse of glass and the supportive government policies. The European Union has introduced a global economy package to improve waste management and recycling activities. Many European countries are increasing their waste disposal rates that could reduce the volume of glass disposal and the growth of the oil market by 2027.
Rising glass waste is one of the biggest problems facing the world. The waste is transferred to garbage and landfills hence contributing to global warming and climate emergencies. However, the gathering of glass waste in landfills will lead to the release of greenhouse gases. Heat releases a large amount of pollutants into the environment. Therefore, recycling of glass can play an important role in waste and recycling management in the future years as it is efficient and environmentally friendly. Many of the countries support glass recycling by providing grants, and schemes. This will improve the speed of glass recycling during the forecast period. Increasing awareness of recycled glass that can deal with climate problems will lead to the development of high-quality recycled glass plants worldwide, which will further the production of recycled glass leading to market growth.
Cullets segment will hold more than 80% of the 2027 recycled glass market. Cullet is a recycled glass ready for recycling. Cullet can be used to make glass bottles, glass jars, fiberglass and glass window, ballotin, etc. Cullet has many benefits such as low melting power requirement, reduces the amount of raw material needed, and prolongs the furnace life to a minimum. . 30%. It finds its use in many industries. A large cullet can be used for mixing cement in concrete construction or asphalt for road construction, a small cullet can be mixed with ceramics, bricks, and blocks to reduce baking temperature, such as bleach sand that suffers from coastal erosion, by mixing. . With paint, can be used in fluorescent road show, mixed with clay to improve soil quality, etc.
The global recycled glass market is projected to be around USD 1,281.1 million by 2028, at a CAGR of 6.7 % during the prediction period.
Furthermore, technological advancements and increased investment in this sector are likely to boost the global recycled glass market ahead throughout the forecast period.
The market is fragmented due to the growing number of consumer industries that use recycled glass to facilitate the production of final products. High demand from end users has posed a serious threat to new entrants, leading to industrial fragmentation.
Major market participants work with glass bottles manufacturers and containers to achieve a competitive edge over other companies. With the growing demand for recycled glass in various systems, many manufacturers are investing in research and technology to gain competitive advantage. Governments have also embarked on a number of programs to promote the industry. For example, in 2015, the rate of recycling of glass in Europe has reached about 70% with more than 25 billion glass containers continuously recycled in a closed bottle-to-bottle loop and expected to grow significantly during the forecast period. . Some of the major manufacturers in the industry are Strategic Materials, Inc., Vetropack Holding, Berryman Glass Recycling, Glass Recycled Surfaces, Momentum Recycling, LLC, Dlubak Glass Company, Vitro Minerals, Inc., Glasrecycling NV, Harsco Minerals International, Colored Aggregates, Company Gallo Glass, Trivitro Corporation, GRL, and Consol Glass (Pty) Ltd.
Key Findings in the Global Recycled Glass Market: a Snapshot
- Key players working in the recycled glass market are producers and suppliers of tier I and tier II. The production and distribution centers of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
- Increasing demand for more productivity is attracting international players to invest more in the supply of their products. Manufacturing companies are focused on expanding their businesses in the undeveloped Latin American markets.
- The outbreak of COVID-19 undermines the need for additional production of recycled glass in many systems. Governments around the world have pushed for the closure of the door to control the spread of the disease. This has resulted in a decline in the production and production capacity, restrictions on supply and transportation, and a decline in infrastructure. Subsequently, this has led to a reduction in the demand for recycled glass production worldwide
This market research study was created by compiling data from primary and secondary sources. Secondary research was conducted using a variety of sources, including (but not limited to) SEC filings, company websites, technical journals, paid data sources, financial reports, and other industry publications. In addition, to acquire first-hand data, the research methodologies perform comprehensive primary research with important industry players. Industry specialists then examine and validate the data.
Recycled Glass Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1,281.1 million|
|Growth Rate||CAGR of 6.7 % during 2021-2028|
|Segment Covered||Product Type, End-User Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||Strategic Materials, Inc., Vetropack Holding, Berryman Glass Recycling, Glass Recycled Surfaces, Momentum Recycling, LLC, Dlubak Glass Company, Vitro Minerals, Inc., Glasrecycling NV, Harsco Minerals International, Colored Aggregates, Company Gallo Glass, Trivitro Corporation, GRL, and Consol Glass (Pty) Ltd.|
Key Segments of the Global Recycled Glass Market
Product Type Overview, 2018-2028 (USD Million)
End-User Type Overview, 2018-2028 (USD Million)
- Glass bottles
- Flat glass
- Fiber glass
- Flat glass
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa
- Saudi Arabia
- Rest of MEA