Overview and Scope
Recycled glass is glass material processed and reused from diverse sources, such as glass bottles, jars, and other containers. Rather than being disposed of as waste, these items undergo sorting, cleaning, and crushing into a cullet. The cullet is then melted down to create new glass products, contributing to resource conservation, reduced energy usage in glass production, and decreased landfill waste.
Sizing and Forecast
The recycled glass market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising concerns about waste glass recycling, increase in demand for sustainable products, rapid industrialization and urbanization, rising demand for recycled glass across a variety of industries, rising demand for recycled glass.
The recycled glass market size is expected to see strong growth in the next few years. It will grow to $4.10 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to government regulations in favor of industry, implementation of stringent government policies around plastic use, increased awareness programs, growing environmental concerns about recycled glass, government regulations. Major trends in the forecast period include new advancements in production technologies, technological advancements, product diversification, environmental awareness, technological innovations.
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Segmentation & Regional Insights
The recycled glass market covered in this report is segmented –
1) By Product: Cullet, Crushed Glass, Glass Powder
2) By Source: Deposit Program, Drop Off Or Buy Back Centers, Curb Side Pickups
3) By Application: Bottle And Container, Flat Glass, Fiberglass, Highway Beds, Abrasives, Fillers, Other Applications
Europe was the largest region in the recycled glass market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recycled glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increased demand for sustainable packaging is expected to propel the growth of the recycled glass market going forward. Sustainable packaging is eco-friendly material used to wrap, store, ship, or shelve products. The demand for sustainable packaging is increasing due to growing environmental concerns, regulatory pressures, consumer preferences, cost savings, and the shift towards a circular economy. Recycled glass helps sustainable packaging by reducing the need for new glass production, which saves energy, reduces greenhouse gas emissions, and minimizes waste sent to landfills while conserving natural resources and lowering the carbon footprint of packaging. For instance, according to Eurostat, a Luxembourg-based statistical office, European Union residents generated 188.7 kilograms of packaging waste per capita in 2021, marking a substantial increase of 10.8 kilograms per person compared to 2020. Therefore, increased demand for sustainable packaging is driving the growth of the recycled glass market.
Key Industry Players
Major companies operating in the recycled glass market are Compagnie de Saint-Gobain S.A., Ardagh Group S.A., Verallia Packaging SAS, Vitro S.A.B. de C.V., Vetropack Holding Ltd., Kimble Chase Life Science and Research Products LLC, Consol Glass (Pty) Ltd., Stölzle Glass Group, Strategic Materials Inc., Vidroporto S.A., BMT Co. Ltd., Richfield Industries, Recresco Ltd., Balcones Resources, ACE Glass Recycling, Gallo Glass Company, Pace Glass Inc., Coloured Aggregates Inc., G.R.L. Glasrecycling NV, 2M Ressources Inc., Dlubak Glass Company, Harsco Minerals International, O-I Glass Inc., Berryman Glass Recycling, Trivitro Corporation GRL, Momentum Recycling LLC, Glass Recycled Surfaces, Ripple Glass, Gerresheimer AG, Triveni Glass Ltd.
The recycled glass market report table of contents includes:
1. Executive Summary
2. Recycled Glass Market Characteristics
3. Recycled Glass Market Trends And Strategies
4. Recycled Glass Market – Macro Economic Scenario
5. Global Recycled Glass Market Size and Growth
………………………..
32. Global Recycled Glass Market Competitive Benchmarking
33. Global Recycled Glass Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Recycled Glass Market
35. Recycled Glass Market Future Outlook and Potential Analysis
36. Appendix
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