According to an updated research study published by Global Market Insights Inc., the Recycled Glass Market size will exceed USD 1.5 billion by the end of 2027.
Rising glass waste is one of the biggest problems facing the world. Most of this waste is sent to landfills and garbage dumps, thus contributing to global warming and climate change. However, the accumulation of glass debris in landfills can lead to the release of greenhouse gases. Heat is emitted along with large number of pollutants into the environment. Due to this factor, recycling of glass can play an important role in waste management in the coming years as it is more efficient & environmental-friendly. Most of developed countries promote glass recycling by introducing grants, programs, and funding.
Glass bottled & containers will capture a large market share due to its wider adoptability, reusable nature, etc. Increased use of glass bottles & containers by various consumer industries, such as food processing, hotels and storages, etc., will trigger the recycled glass market growth in the coming years. According to the Container Recycling Institute, the global average rate of recycling of glass containers is around 63%. Various rules and deposit rates have been established in various countries to adopt glass bottle recycling. Oregon (U.S.) has enforced a law, according to which consumers of carbonated beverages will be paid ten cents on returning the container for recycling. All of these rules and deposit prices often improve the quality of glass collected for recycling and increase the percentage of glass containers that go for recycling.
Based on the product, cullets have a major market share in 2020 due to increased use of cullet glass recycling that promotes market growth. Cullets accounts for over 80% of the total recycled glass consumed. Every year about one million tons of glass waste is converted into cullet products. These cullets are processed and sorted based on color by filtering technology to create low levels of contamination and are then used in the glass refilling process. The global recycled glass market from cullets will witness significant growth due to its widespread use in glass production processes, which enhances the overall performance, reduces the need for energy, and associated costs during glass production.
“Recycled Glass Market Size, By Product Type [Cullets (Clear Cullets, Amber Cullets), Crushed Glass, Glass Powder], By Application (Glass Bottle & Containers, Flat Glass, Fiber Glass, Highway Beads, Abrasives, Fillers], Industry Analysis Report, Regional Outlook, Application, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
Clear cullets will witness over 6.5% CAGR in recycled glass market through 2027. Reinforced textile solutions offer several benefits including transparency, color flexibility, and more. In addition, this type is widely preferred nu most of the glass containers packaging material manufacturers. Furthermore, clear cullets are used in glass bottles & containers, flat glass, highway beads, and others.
Rising government initiatives will surge product penetration
Governments of many countries are taking measures related waste management and reducing the use of landfills. Several countries have begun implementing a waste disposal system to control waste. In England, all beverage containers including plastic, glass, or metal, are covered under a government deposit system. The plan was announced to reduce land and sea pollution by doubling the amount of money returned to consumers who returned bottles and cans. Similar programs are being worked on in 38 countries.
For an instance, the Department of Environment of Government of India has proposed a framework called the National Resource Efficiency Policy 2019 by outlining a three-year waste management plan in seven sectors that contribute to about 25% of India's revenue.
Some of the major manufacturers in the global recycled glass industry are Vitro Minerals, Inc., Strategic Materials, Inc., Coloured Aggregates, Vetropack Holding, Glasrecycling NV, Berryman Glass Recycling, Glass Recycled Surfaces, Momentum Recycling, LLC, Dlubak Glass Company, Harsco Minerals International, Gallo Glass Company, G.R.L., Consol Glass (Pty) Ltd., Trivitro Corporation, and others.