Glass Recycling Market was valued at USD 4.65 Billion in 2022 and is expected to reach a value of USD 6.31 Billion by 2028, growing at a CAGR of 5.50% during the forecast period of 2023-2028
Glass Recycling is a process of utilizing waste glass and turning it into a usable product using various types of waste glass such as glass cullet, crushed glass, or glass powder. The waste glass is either crushed into pieces or imploded and re-melted to manufacture different products in the industries. The Glass Recycling Market has emerged in trend due to its positive effects on the environment, which helps to reduce the exit of harmful gas emissions and also helps to save green energy and improve overall air and water quality.
The Glass Recycling Market is anticipated to increase its demand for its necessity for different industrial purposes to make recycled glass products such as jars, glass bottles, containers, abrasives, insulation items, etc. Hence, the Glass Recycling Market is forecasted to see growth in demand during the forecast period of 2022-2027.
The driving force for the Glass Recycling Market is the economic benefits that help in its growth of the Glass Recycling Market. Furthermore, as the decomposition of glass takes up to a million years, many industries focus on recycling the glass for manufacturing various items, which helps reduce multiple harmful gas emissions.
As glass recycling is done without affecting its quality, purity, and other properties, its demand for the global market has surged retrospectively. Furthermore, the Glass Recycling Market leads to many economic benefits for the company and the environment, such as saving raw materials, extending the furnace life, and emitting harmful carbon gas, all leading to the demand for Glass Recycling Market. Therefore, it can be said that replacing 12% of natural raw materials with recycling Glass can reduce energy consumption by 4%. In addition, the carbon emissions are further reduced, causing environmental benefits and increasing the demand for Glass Recycling Market.
Also, the demand for eco-friendly packaging for products has emerged as a trend in manufacturing bottles and containers for pharmaceutical and food, and beverage industries, have driven the growth of the Glass Recycling Market. In addition, the Fiber Glass insulation material has increased the driving force for the Glass Recycling Market, as this insulator is used to trap air and slow the transfer of heat. Furthermore, fiber Glass is fireproof, flexible, and energy-efficient, making it easy to use in the residential and industrial sectors. These factors help for driving the growth of the Glass Recycling Market.
The Glass Recycling Market faces its restraints due to the high operating cost involved with its complex supply chain observed during 2022-2027. The Glass Recycling Market has a lengthy and tedious supply chain consisting of many intermediaries, making the supply chain process very complex.
The Glass Recycling Market also sees a significant restraint by collecting waste glass as raw materials from the municipal corporation and recycling the Glass into an end-product following a tedious and lengthy operational process. Recycled glass production is produced in large quantities as the return cost of recycled glass is presumably low. Although, the complex process involved in sorting and removing contaminants from waste glass is marginally high. Hence, these contributing factors restrict the growth of the Glass Recycling Market.
The demand for recycled products boosts the market for Glass Recycling Market Opportunities. Furthermore, due to industrialization, the initiative for disposable glass collection has increased the growth of the Glass Recycling Markets. As a result, the Glass Recycling Markets create opportunities for several applications such as the food and beverages industry, alcohol industry, construction industry, etc. Hence, growing concerns about environmental hazards play a crucial role in creating opportunities for the Glass Recycling Market since Glass waste is environmentally sustainable for industries. Therefore, increasing automotive industries promotes the growth of the Glass Recycling Market and implements the market contributing to its further development by creating opportunities for the market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
5.50% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
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Glass Cullet
Crushed Glass
Glass Powder
In the Glass Recycling Market Segmentation, based on the Product, the demand for Glass Cullet holds the largest market. Furthermore, with the increase in the usage of waste glass materials in industries, the need for waste glass production has emerged to be in demand for the Glass Recycling Market. Hence, the Crushed Glass and Glass Powder segments are also anticipated to grow further in the Glass Recycling Market during the forecast period 2022-2027. Furthermore, the demand for the Glass Recycling Market has emerged due to its stability in containing its properties even with a high melting point, and producing a quality product has increased the market for the Glass Recycling Market.
Residential
Commercial
Industrial
By the End-User, the Glass Recycling Market is highly in demand for the segments of the Commercial as well as the Residential sector. Furthermore, due to the increase in population and urbanization, the demand for the usage of recycled Glass is influenced and boosted by the rise of the Glass Recycling Market Industries. The general uses of recycled Glass include pharmaceutical industries for packaging medicines in glass bottles and food and beverage industries. The principal benefits of recycled glass are packaging bottles and containers by the packing industries. Hence, these factors influence the demand and growth of the Glass Recycling Market. Furthermore, the demand for the Industrial sector is also expected to grow with the increased need for recycled Glass for automobile industries. Therefore, the Glass Recycling Market is anticipated to grow in the Industrial segment during the forecast period of 2022-2027.
In the Glass Recycling Market Segmentation, the demand for recycled Glass Bottles and Containers is highly in demand for the growth of the Glass Recycling Market. As this demand for Bottles and Containers can be attributed to the increase in demand, the packaging industries can rely on glass material for its long shelf-life and maintain the overall quality of the Product. Therefore, these factors influence the growth of the Glass Recycling Market for the Bottle and Container Segment.
There is anticipated growth in the demand for Fiber Glass, Flat Glass, Highway Beads, and Others in the Glass Recycling Market. As there is a surge in the usage of recycled glass in the industrial sector, many industries are dependent on glass bottles or containers for packaging their goods. The pharmaceutical, food, and beverage, cosmetic, and residential sectors are significant users responsible for driving the demand for Glass Recycling Market.
The Europe glass recycling market is leading with the dominant shares. The demand for Europe Glass Recycling Market has increased due to the initiatives taken by the government to educate the industrial sectors about using eco-friendly packaging. In addition, raising awareness among consumers to use recycled glass has boosted the demand for Glass Recycling Market in Europe.
The Asia Pacific is also anticipated to hold significant growth for the demand of the Glass Recycling Market; this is because the rising automobile industries and pharmaceutical companies have majority boosted the development of the Glass Recycling Market in the Asia Pacific Region.
North America, the Middle East & Africa, and Latin America regions are expected to grow in demand for the forecasted period of 2022-2027. The market share that North America holds for manufacturing products like glass or fiberglass has estimated the growth of the demand in the Glass Recycling Market. Although, the Middle East and Latin America are considered to have stagnant growth throughout the forecast period of 2022-2027 for the Glass Recycling Market.
In September 2022, Bihar Government decided to use the glass from damaged liquor bottles to manufacture bangles. Thus, Bihar Government has agreed with a bangle manufacturing unit based in Uttar Pradesh to train the local woman on how to make bangles from these damaged alcohol bottles.
In July 2022, the company Covanta expanded with Miller Environmental to transfer Acquisition to transform the market and reposition Covanta, a premier provider of environmental services. The companies have announced their Acquisition by specializing in various waste services, including transportation and waste treatment, to companies of all sizes seeking sustainable waste services.
In March 2022, Boro-Wide Recycling and Mr. T Carting announced a merger, giving the two companies to join forces to navigate the highly competitive waste management industry in New York. Boro-Wide Recycling was one of MR. T Carting's first customers were at its municipal solid waste transfer station when it opened in the 1980s.
Frequently Asked Questions
Glass Recycling Market is expected to grow at a CAGR of 5.5% during the forecast period 2022-2027.
The critical driving factors for the growth of the Glass Recycling Market are the economic benefits of recycled glass that helps in the overall growth of the Glass Recycling Market.
The segments under the Glass Recycling Market by Product Type are glass cullet, crushed glass, and glass powder.
The regions of Europe, Asia Pacific, and North America are the key market areas for the Glass Recycling Market.
The three major key players in the Glass Recycling Market are Biffa PLC., Bottleman Recycling Services Ltd., and Glass Recycling (UK) Ltd.
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