$4550
[Research Report] The recycled glass market is expected to grow from US$ 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.
MARKET ANALYSIS
Glass obtained after processing of waste glass into usable products is called recycled glass. It is 100% recyclable and can be recycled without any loss in quality or purity. It is made from readily available domestic materials such as sand, limestone, soda ash, and cullet, which is a term for furnace-ready recycled glass. Further, Wall insulation, countertops, containers, and kitchen tiles are all made from recycled glass components. Such increasing usage is likely to bolster the demand in the global recycled glass market. These materials help glass product makers save money by reducing raw material consumption, lowering hazardous emissions, conserving energy, and extending the life of glass plant machinery such as furnaces. These characteristics make them a valuable commodity in the manufacture of new glass items, thereby boosting the global recycled glass market.
GROWTH DRIVERS AND CHALLENGES
The strong demand from bottles and containers has aided the recycled glass market growth. Recycled glass is widely used in the food and beverage industry for the packaging of beverages and food products, which is boosting the demand from the bottles and containers industry. Technological advancement in the manufacturing of recycled glass bottles and containers is intended to improve customization and sustainability. Increasing demand for reusable sources as an alternative to plastics, which are environmentally friendly, is encouraging manufacturers to use recycled glass bottles and containers to pack their food products and juices. Furthermore, the growing pharmaceutical industry has created lucrative opportunities for recycled glass manufacturers. Because of the ongoing pandemic, there will be an increase in demand for generic medicines such as basic capsules and syrups, which will create lucrative sales opportunities. Given this, the growing trend toward health care, wellness, and the pharmaceutical industry is expected to stimulate demand for recycled glass. Because of the recyclable and reusable properties of glass bottles, the future of recycled glass bottles and containers offers lucrative opportunities. Furthermore, manufacturers and marketers can use sustainable packaging alternatives to toxic non-biodegradable materials like plastics. All of these factors contribute to the increased demand for recycled glass in the bottle and container manufacturing industries. However, high investment in recycling process can create an adverse impact on the market growth. Glass recycling is a time-consuming procedure that entails screening and eliminating impurities from glass debris. Because the expense of eliminating pollutants is so high, glass makers must adhere to strict guidelines in order to reduce the application's complexity and cost. There is also a dearth of investment in the business because profit margins are very modest and payback periods are lengthy. These obstacles are limiting the industry's growth, and governments throughout the world are seeking to encourage investors by allocating cash and launching new programmes that will benefit investors.
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Recycled Glass Market: Strategic Insights
Market Size Value in US$ 3,435.81 million in 2022 Market Size Value by US$ 4,571.62 million by 2028 Growth rate CAGR of 5.5% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Customize Research To Suit Your Requirement
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Recycled Glass Market: Strategic Insights
| Market Size Value in | US$ 3,435.81 million in 2022 |
| Market Size Value by | US$ 4,571.62 million by 2028 |
| Growth rate | CAGR of 5.5% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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REPORT SEGMENTATION AND SCOPE
The "Global Recycled Glass Market Analysis to 2028" is a specialized and in-depth study with a major focus on the global recycled glass market trends and growth opportunities. The report aims to provide an overview of the global recycled glass market with detailed market segmentation by product type, application, and geography. The global recycled glass market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of recycled glass worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the recycled glass market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the recycled glass market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative recycled glass market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global recycled glass market, which helps understand the entire supply chain and various factors affecting the market growth.
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SEGMENTAL ANALYSIS
The global recycled glass market is segmented based on product type, and application. Based on product type, the recycled glass market is segmented as glass cullet, glass fines, and glass powder. On the basis of application, the market is segmented as bottles and container, fiber glass, flat glass, highway beads, and fillers and others.
On the basis of product type glass cullet led the recycled glass market with a largest market share. Recycled glass cullet is used as a replacement for minerals in the manufacture of glass packaging, thus helping to reduce reliability on primary raw materials. Glass cullet finds it application in manufacturing bottles and containers, flat glass, and fiber glass for various industrial purposes. Based on application bottle and container segment is dominating the recycled glass market. Recycled glass is increasingly being used in the bottle and container manufacturing in packaging industry. Bottle and container made of recycled glass can help conserve 25-30% of the energy used in manufacturing new bottles, containers from raw materials.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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REGIONAL ANALYSIS
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The report provides a detailed overview of the global recycled glass market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Europe accounted for a large portion of the global recycled glass market share and is valued at more than US$ 1,637 million in 2022. Europe comprises several developed economies such as Germany, France, Italy, and Russia. The critical factor contributing to its growth is the increasing demand for bottles and containers in food & beverage industry. Asia Pacific is also expected to witness considerable growth valued at approximately US$ 900 million in 2028. The rising trend for reusability of bottles and containers in the Asia Pacific has enabled the packaging players to supply their products in glass containers and bottles. Furthermore, in North America, there has been a widespread usage of recycled glass in packaging industry. Glass is an ideal packaging solution for food and beverages, cosmetics, and pharmaceutical. This has created lucrative opportunities in recycled glass market. The recycled glass market in North America is augmented to grow at CAGR of 4.8% during the forecast period.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global recycled glass market.
In May 2022, Coca-Cola Bottling company United is dedicated to creating a waste-free world by 2030, with a goal of 50% recycled materials in their bottles. The bottling company has teamed up with O-I glass company to collect more recycled glass so that new glass bottles can be made.
In Mar 2021, Strategic Materials Inc., North America's largest glass recycler, has launched TruFiltration, an eco-friendly filtration media made entirely of recycled glass that will serve the residential and commercial filtration markets.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of construction industry.
Before the COVID-19 outbreak, the recycled glass demand was mainly driven by various manufacturing industries such as bottle and containers, flat glass, fiber glass among others. Furthermore, these recycled glass containers and bottles are widley used in food and beverages industry, and the recycled glass products are used in building and construction, water and wastewater treatment. The COVID-19 pandemic caused supply chain disruptions in key raw materials and disturbed manufacturing processes. However, the economies revived their operations, further providing an opportunity for the recycled glass market players to regain normalcy.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the recycled glass market include 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 among others.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, U.S., UAE, UK
Frequently Asked Questions
The major players operating in the global recycled glass market are 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.
In 2021, Europe held the largest share of the global recycled glass market. Germany, France, and the UK are the leading producers of recycled glass across the region. In Germany, the recycled glass production industry is among the fastest-growing ones. The growing industrialization and modernization in this region, coupled with rise in government initiatives for treatment of glass waste, has fueled the consumption of recycled glass extensively.
The glass cullet segment held the largest market share. The glass cullet is employed for manufacturing bottles and containers, flat glass, glass fibers for packaging, construction, and other industries. The cost of glass cullet is low as compared to other type of recycled glass.
The fiber glass segment is the fastest growing segment in the global recycled glass market during the forecasted period. Fiber glass are used as insulator in manufacturing components in automotive and other industries. The fiber glass is one of the best option for insulation purpose. Recycled glass is used in processing of fiber glass.
The bottles and containers segment held the largest share of the market in 2021. Recycled glass has been used in processing bottles and containers to large extent. Due to its high utilization in packaging industry and growing demand for ecofriendly packaging the bottles and containers made of recycled glass has observed tremendous growth in past few years.
Asia Pacific is estimated to register the fastest CAGR in the global recycled glass market over the forecast period. The growth of the recycled glass market in Asia-Pacific is driven by rising demand for recycled glass for various applications such as, food and beverages, pharmaceuticals, and insulations.
The List of Companies - Recycled Glass Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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