Recycled Glass Market to Exceed $4.4bn by 2025 with 7.6% CAGR
According to growth forecast analysis by Global Market Insights, Inc. the size of Recycled Glass Market will hit USD 4.4 billion by 2025.
Recycled glass is a sustainable material providing boundless ecological aids including contribution to mitigating climate change and saving valuable natural resources as vitric products can be recycled in close loop endlessly. On an average, the glass bottle has a recycling rate of 50% to 80% which conserve a significant amount of raw material. The use of product during the manufacturing of vitric products will also conserve the energy consumption as the cullet melt at a lower temperature than raw material. Consequently, low energy consumption is required for melting purpose. Increasing demand for the use of vitric products will fuel the recycled glass market owing to the inert property which preserve taste and nutrients of the food and beverage product. Additionally, it is also used in pharmaceutical industry to preserve the medicines composition and properties which will increase the demand of vitric products and further spur the recycled glass market.
Source: Global Market Insights
In current years, legislative pressure and improvement in cullet quality have significantly influenced the recycled glass market. For instance, The Producer Responsibility Obligation Regulation in Europe introduced Packaging Recovery Note (PRN) system which made product market more economically attractive. The combination of above mentioned regulation with Climate Change Levy has made the lower energy requirements of using cullet as a raw material in place of virgin materials which act as a key factor in reaching industry targets for reducing energy consumption. Moreover, the Pollution Prevention and Control legislative in Europe targets to reduce pollution which bounded the glass companies to increase the use of recycled product, which will fuel the recycled glass market by the end of 2025.
The different sources include deposit program, curbside, buyback/drop off program. Among all, curbside will hold around one-third of the total recycled glass market throughout the forecast span. Curbside program includes material recovery facility which provide collection of single stream waste, followed by sorting and segregation of waste. This program will experience sluggish growth during forecast timespan owing to the production of low quality cullet.
Source: Global Market Insights
On revenue basis, clear cullet is likely to account for around 60% of the global recycled glass market in 2025. Clear cullet is manufactured generally from soda, beer bottle, flat glass, soft drink bottles, food bottles, including pickle jars, sauce bottle, honey, cider and others. Alcohol packaging industry play a vital role in the recycled product market as it acts as main raw material supplier and end-user industry of the product market.
Sweden recycled glass market is likely to generate the revenue around USD 6.9 million in 2025 as the government has provided various subsidiary on the product to increase the recycling rate of the vitrics products. According to Avfall Sverige, Sweden is aiming for zero waste future by the end of 2020. The country even imports waste from UK, Norway, Italy, etc. and recovers more energy from each ton of the product than other countries.
Major players in the recycled glass industry which holds the major market chunk include Ardagh group, Momentum Recycling, Strategic Materials, Harsco Minerals International and Heritage Glass.
Browse key industry insights spread across 364 pages with 595 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 Applications (Glass Bottle & Containers, Flat Glass, Fiber Glass, Highway Beads, Abrasives, Fillers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Netherlands, Sweden, Norway, China, India, Japan, Australia, Singapore, Thailand, South Korea, Brazil, Mexico, South Africa, Egypt, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/recycled-glass-market
Source: Global Market Insights
Photo: O. Kürth
