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
Report Coverage - Recycled Glass Market
Report Coverage
Details
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
No. of Pages
150
No. of Tables
131
No. of Charts & Figures
120
Historical data available
Yes
Segments covered
Product Type and Application
Regional scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available
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
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 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.
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.
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
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
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.