Recycled Glass Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Glass Cullet, Glass Fines, and Glass Powder) and Application (Bottle and Container, Flat Glass, Fiber Glass, Highway Beads, Fillers, and Others)
Publication Month: May 2022 | Report Code: TIPRE00006004 | No. of Pages: 150 | Category: Chemicals and Materials | Status: Published
The market is expected to grow from US$ 3,435.81 million in 2022 to US$ 4,571.62 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.
Recycled glass is obtained by processing waste glass into usable products. The concept of glass recycling has gained traction in the past few years because the glass produced from the recycling method reduces air pollution by ~20% and water pollution by ~50%. There are no raw materials and complex manufacturing processes involved in the formation of recycled glass. Recycled glass is highly used in bottles and containers utilized in the beverage industry.In 2020, Europe held the largest revenue share of the recycled glass market. High demand for bottles and containers from the residential & industrial sectors, such as food & beverages and healthcare, is mainly driving the recycled glass market growth in Europe. Moreover, the region consists of countries such as Germany, France, the UK, and the Netherlands, which are top manufacturers of food & beverages and pharmaceuticals. The bottles and containers made of recycled glass are highly preferred in the packaging of food & beverages and pharmaceuticals as the self-weight of bottles and containers manufactured from recycled glass is low compared to normal glass. Thus, this factor is responsible for the rising demand for convenient packaging, which leads to increased consumption of bottles and containers. The growing industrialization has also increased the demand for recycled glass in the region.
Strategic Insights
Impact of COVID-19 Pandemic on Recycled Glass Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel restrictions, and business shutdowns. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries, which led to low demand for recycled glass from various industries. The COVID-19 pandemic caused volatility in the prices of waste glass required to produce recycled glass. The worldwide consumption of recycled glass declined due to low demand from various industries such as construction and manufacturing. The reduced demand from various industries due to the COVID-19 pandemic has hampered the growth of the recycled glass market. However, the demand for recycled glass is expected to rise globally as various economies revive their operations.
Global Recycled Glass Market Breakdown –by Region
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Market Insights
Rise in Demand for Bottles and Containers
Bottles and containers are 100% recyclable without losing purity and quality. Many manufacturers of bottles and containers use recycled glass due to a shift in consumer preferences toward eco-friendly packaging. The initiatives taken by governments of various countries to reduce air and water pollution generated by industries have created lucrative opportunities for recycled products. Bottles and containers are completely made of recycled glass. The demand for eco-friendly packaging in developed and developing nations has driven the market for bottles and containers. Glass bottles are frequently used to pack liquids, such as soda, juice, beer, and wine. Recycling these bottles is a quick process as a bottle can be recycled and kept on store shelves for 30 days. Thus, the quick recycled packaging process is responsible for a higher preference for bottles and containers in the packaging industry. The major factor creating demand for bottles and containers is the increasing demand for eco-friendly packaging at a larger scale in the industrial & residential sectors.
Product Type Insights
Based on product type, the recycled glass market is segmented into glass cullet, glass fines, and glass powder. The glass cullet segment held the largest market share in the recycled glass market in 2021 A glass cullet is a broken glass processed and sorted based on colors. The benefit of using glass cullet over other materials in industries is that it saves 25-30% of energy during manufacturing. The usage of glass cullet also leads to the reduction of carbon emissions. It is also used in manufacturing bottles and containers. Thus, the application scope of the glass cullet is held responsible for its dominance in the recycled glass market.
Recycled Glass Market, by Product Type – 2021 and 2028
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Coloured Aggregates Inc.; Gallo Glass Company; Strategic Materials, Inc.; Vetropack; O-I Glass, Inc.; Dlubak Glass Company; G.R.L, Glasrecycling; Ardagh Group S.A.; Bradish Glass, Inc.; and Momentum Recycling, LLC are a few of the major players operating in the recycled glass market. Players operating in the recycled glass market are constantly focusing on strategies such as investments in research and development activities and new product launches.
Report Spotlights
- Progressive industry trends in the recycled glass market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the recycled glass market from 2019 to 2028
- Estimation of global demand for recycled glass
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trend and outlook as well as factors driving and restraining the growth of the recycled glass market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the recycled glass market at various nodes
- Detailed overview and segmentation of the market, as well as the recycled glass industry dynamics
- Size of the recycled glass market in various regions with promising growth opportunities
Global Recycled Glass Market
Product Type
- Glass Cullet
- Glass Fines
- Glass Powder
Application
- Bottle and Container
- Flat Glass
- Fiber Glass
- Highway Beads
- Fillers
- Others
Company Profiles
- Coloured Aggregates Inc.
- Gallo Glass Company
- Strategic Materials, Inc.
- Vetropack
- O-I Glass, Inc.
- Dlubak Glass Company
- G.R.L, Glasrecycling
- Ardagh Group S.A.
- Bradish Glass, Inc.
- Momentum Recycling, LLC
Frequently Asked Questions
- Coloured Aggregates Inc.
- Gallo Glass Company
- Strategic Materials, Inc.
- Vetropack
- O-I Glass, Inc.
- Dlubak Glass Company
- G.R.L, Glasrecycling
- Ardagh Group S.A.
- Bradish Glass, Inc.
- Momentum Recycling, LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global recycled glass market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global recycled glass market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the recycled glass market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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