Recycled Glass Market size to exceed $4.5 bn by 2026
Published Date: December 2, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
Recycled Glass Market size is estimated to cross USD 4.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
Glass recycling offers tremendous benefits in the wake of rising concerns associated glass waste crisis. It reduces the carbon footprint by minimizing emissions of harmful gases. It facilitates savings of raw materials such as soda ash, silica and limestone used for glass manufacturing. It helps to lower energy and operational costs during glass production. Moreover, it conserves significant amount of landfill space and related costs.
Government policies and initiatives will change the landscape of glass recycling industry in future
Many developed countries have formulated regulatory framework and policies to assist domestic glass recycling programs. The regional governments in Europe and North America are encouraging industrial manufacturers to adopt circular economy in order to maintain sustainable manufacturing practices. In addition, they are providing funding and grants which will assist in the growth of recycled glass market in future.
Complexity in production processes and requirement of high investments may hinder the market growth
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The intricate sorting and contaminants removal processes may affect the recycled glass market growth between the forecast period. These processes must be performed with utmost care and accuracy otherwise it may hamper the quality of recycled glass being manufactured. High level of contaminants may damage equipment used in production process and cause temporary shutdown. The requirement of huge capital investments and low returns may affect recycled glass manufacturers’ perception while investing in glass recycling business. However, financial support provided by various governments may help in resolving this issue.
Browse key industry insights spread across 250 pages with 308 market data tables & 22 figures & charts from the report, “Recycled Glass Market Size By Source (Deposit Program, Drop Off/Buy Back Centers, Curbside Pickups), By Product (Cullet [Clear Cullet, Amber Cullet, Green Cullet], Crushed Glass, Glass Powder), By Application (Glass Bottle & Containers, Flat Glass, Fiber Glass, Highway Beads, Abrasives, Fillers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026” in detail along with the table of contents:
Deposit programs will grow with a CAGR more than 7.5% between 2019 to 2026. This collection method helps to improve the quality of final product and increases the awareness for glass recycling among public. Curbside pickups will cross 20,000 kilo tons by the end of 2026.
Crushed glass will grow at a CAGR over 7.0% during the forecast time span. Crushed glass is primarily used for blasting projects. Moreover, wide range of usages of crushed glass in filtration, construction, surface finishing, bedding pipes, concrete production, etc. will augment the sector’s growth. Glass powder will capture around 8% of recycled glass market volume share by 2026 owing to rising need of filler substitutes. It is used as an alternative to fillers or additives, to improve the performance of polymer concrete and manufacture electronic tapes.
Glass bottles and containers will surpass USD 2.3 billion by 2026 due to its increasing popularity within pharmaceutical, food & beverage and cosmetics industry. The use of recycled glass in the manufacturing of glass bottles and containers helps in achieving energy savings and cost effectiveness.
Asia Pacific exhibits huge potential for the industry growth in coming years
Asia Pacific region will capture more than quarter of total share in recycled glass market by 2026. The market will grow significantly in future due to rising public awareness about glass recycling and its benefits. Various countries in this region are providing financial support for the growth of recycling industry. For example, in August 2019, Australian government announced an investment of USD 20 million to revitalize the recycling activities. This investment is a part of government’s plan to ban the export of waste glass, paper, plastic, etc. These aforementioned trends will spur the industry growth in coming years.
The intensity of competition will increase due to positive outlook of glass recycling in future
The significant players in the recycled glass market share are Vetropack holding Ltd., Strategic Materials, Momentum Recycling, Vitro Minerals, Berryman Glass Recycling and Harsco Minerals. These companies are expanding production capacity, diversifying their waste collection & product distribution network and acquiring other small players in the market to gain more profits.
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