According to the latest report by IMARC Group, titled "Recycled Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global recycled glass market reached a value of US$ 4.5 Billion in 2022. Recycled glass is obtained from recycling old and waste glass. It is further used to manufacture new usable products. Glass can be recycled by crushing, melting, and blending, along with sand and other starting materials. The manufacturers tend to recycle glass and reuse it due to its exceptional property of being completely recyclable without altering its quality and purity. It offers various benefits, such as low carbon dioxide emission, lesser energy consumption, lower melting temperature, and less wear and tear on the furnace during manufacturing. It is widely used in various industries, such as food and beverages, automotive, construction, healthcare, aerospace, and defence.
Global Recycled Glass Market Trends:
The global market is primarily driven by the increasing public awareness about sustainable development. In line with this, the rising number of facilities related to production and processing is significantly contributing to the market growth. Furthermore, various recycled glass manufacturers are developing methods to enhance efficiency and product quality. Apart from this, the growing awareness regarding the excellent recyclability of glass is leading to a considerable rise in the number of establishments of glass recycling plants worldwide. Moreover, the escalating number of end-user industries deploying recycled glass to facilitate the manufacturing of end products is catalyzing the market. Additionally, the rising government initiatives and awareness campaigns for cleanliness are providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.2 Billion by 2028, exhibiting a CAGR of 5.4% during 2023-2028.
- On the basis of the product, the market has been segmented into cullet, crushed glass, and glass powder.
- Based on the source, the market has been categorized into deposit programs, buy-back/drop-off centres, and curbside pickups.
- On the basis of the application, the market has been classified into bottles and containers, flat glass, fiberglass, highway beads, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Ardagh Group S.A., Coloured Aggregates Inc., Dlubak Glass Company, Gallo Glass Company, Glass Recycled Surfaces, Harsco Corporation, Momentum Recycling LLC, O-I Glass Inc., Reiling GmbH & Co. KG, Strategic Materials Inc, United Resource Management, Verallia and Vetropack Holding Ltd.
|Base Year of the Analysis
||Product, Source, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ardagh Group S.A., Coloured Aggregates Inc., Dlubak Glass Company, Gallo Glass Company, Glass Recycled Surfaces, Harsco Corporation, Momentum Recycling LLC, O-I Glass Inc., Reiling GmbH & Co. KG, Strategic Materials Inc, United Resource Management, Verallia and Vetropack Holding Ltd.
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