BANGALORE, India, Sept. 17, 2021 /PRNewswire/ -- The Glass Recycling Market is Segmented by Type (Container Glass, Construction Glass), by Application (Food and Beverages, Alcohol, Construction). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Energy & Utilities Category.
The global Glass Recycling market size is projected to reach USD 4807.1 million by 2027, from USD 3013.2 million in 2020, at a CAGR of 6.9% during 2021-2027.
Glass waste should be sorted by chemical composition, and then segregated into different hues depending on the final use and local processing capabilities. Glass is practically indefinitely recyclable when it is used to make new containers. Recycled glass is processed and used in manufacturing to save raw materials and minimize energy use. Crushed garbage, rather than being recycled, minimizes the amount of waste sent to landfills.
Major factors driving the growth of the glass recycling market growth:
- The Glass Recycling Market market is being driven by rising concerns about effective waste management and sustainable development, as well as government measures to promote the use of recycled glass. In the coming years, glass recycling will play a critical role in waste management because it is both efficient and environmentally friendly.
- Furthermore, Using shattered bottle glass instead of fresh material saves between 20 and 30% of energy. The key to this energy savings is that when production is done with recycled glass or a cullet, the melting point of the material is lower, and thus the energy required is lower. Thus the energy-saving feature is expected to drive the growth of the glass recycling market.
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TRENDS INFLUENCING THE GROWTH OF THE GLASS RECYCLING MARKET
- Several government initiatives and awareness campaigns for cleanliness are augmenting the global recycled glass market. For example, the Sustainable Singapore Blueprint is one of the initiatives taken by the Singapore Government to reach its zero-waste goal. Furthermore, glass bottles are collected as part of a mandated beverage container deposit program in several countries. Residents who participate in the beverage deposit program pay a deposit on glass bottles and other containers, which they subsequently return to a collection center for refurbishing. Since the price of raw materials has risen and demand has increased, China is introducing industrial-scale recycling. All of these legislation and deposit amounts have the effect of improving the quality of glass collected for recycling and increasing the percentage of containers that are recycled bottle-to-bottle.
- Growing awareness about the environment is expected to drive the growth of the glass recycling market. Consumers all around the world are becoming more aware of the advantages of recycling products and are gravitating toward eco-friendly options like recycled glass. Recycled glass was rapidly being used in a variety of applications, including filtration, abrasives, and fiberglass insulation, to manufacture bottles and containers in the latter half of the last decade.
- The growing use of recycled glass in construction is expected to drive the growth of the recycled glass market. Waste glass can be recycled as a substitute for natural aggregates and cement, reducing the amount of waste glass thrown in landfills, making natural aggregate exploration undesirable, and lowering greenhouse gas emissions in the atmosphere.
- Furthermore, since glass can be melted and recycled numerous times without losing its quality, new glass products made from recycled glass are becoming increasingly popular around the world.
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GLASS RECYCLING MARKET SHARE ANALYSIS
Europe is the major sales market in the world with a 48.67% share, valued at 1186.12 million, followed by the Asia Pacific with a 26.76% market share in 2018.
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GLASS RECYCLING MARKET SEGMENTATION
By Type
- Container Glass
- Construction Glass
- Other.
By Application
- Alcohol
- Food and Beverages
- Construction
- Others.
Key Companies
- Ardagh
- Momentum Recycling
- Heritage Glass
- Shanghai Yanlongji
- The Glass Recycling Company
- Spring Pool
- Pace Glass
- Vitro Minerals
- Marco Abrasives
- Rumpke
- Binder+Co
- Owens Corning
- Trim
- Vetropack Holding
- Sesotec.
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa.
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SIMILAR REPORTS
-Fiber Glass Recycling Market
- The Construction & demolition waste recycling market was valued at USD 126,897.2 Million in 2019, and is expected to reach USD 149,190.9 Million by 2027, registering a CAGR of 2.7% from 2020 to 2027.
- The Glass fiber reinforcement materials market is expected to reach USD 14,084 Million by 2022 from USD 8,468 Million in 2015, with a CAGR of 7.6% from 2016 to 2022.
-Smart Glass market size was USD 621.9 Million and it is expected to reach USD 820.2 Million by the end of 2027, with a CAGR of 4.0% during 2021-2027.
-Container Glass Recycling Market
-Construction Glass Recycling Market
-Glass Bottle Recycling Market
-Glass Reuse Market
-Recycling and Waste Management Services Market
-Glass Felt Thermoplastic Resin Market
-Electrochromic glass market was valued at USD 1.4 Billion in 2019 and is projected to reach USD 2.6 Billion by 2027, growing at a CAGR of 9% from 2020 to 2027.
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