Recycled Glass Market
Recycled Glass Market (Product: Glass Cullet and Glass Fines; and Application: Bottles & Containers, Fiberglass Insulation, Abrasives, Filtration, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Chemicals & Materials
- 196 Pages
Development of New Glass Products Using Recycled Glass to Accelerate Market Growth
The awareness regarding environment safety and sustainability is growing in several industrial sectors. In addition, consumers across the world are becoming increasingly aware of the benefits of recycling products, and are inclined toward using eco-friendly products such as recycled glass. In the latter half of the last decade, recycled glass was increasingly being used in an array of applications, including filtration, abrasives, and fiberglass insulation, to develop bottles & containers. The impetus for recycling of glass receives an added boost due to favorable properties of glass. As glass can be melted and recycled multiple times without compromising on its quality, the development of new glass products with recycled glass is on the rise across the world.
Moreover, availability of cullet, favorable government policies, and consumer awareness are some of the key factors influencing glass recycling in different countries. In addition, economics involved in recycling glass coupled with availability and quality of the cullet also directly impact the growth of the recycled glass market. While the recycling rate in North America and the Asia Pacific lags behind Europe by a significant margin, efforts are being made to increase the recycling rate of glass in these regions. Thus, the global recycled glass market is expected to surpass ~US$ 4.6 Bn mark by the end of 2027.
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Recycled Glass– A Step toward Sustainable Future
Environmental benefits associated with glass recycling provide a solid foundation for the growth of the recycled glass market in the coming years. In addition, advancements in the recycled glass market align with the need for a sustainable future. Stakeholders in the recycled glass market are continually reassessing the techniques used to recycle glass and are also finding new ways to produce recycled glass efficiently. Moreover, multiple engineers are also exploring potential applications of recycled glass across different industries. Glass containers particularly made from recycled glass have become lighter due to which there has been a significant reduction in the carbon footprint as far as transportation of glass is concerned.
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In addition, avoidance on usage of single-use plastic in the development of bottles has opened up opportunities for stakeholders involved in the current recycled glass market. Government policies across the world continue to discourage the use of single-use plastic due to which, recycled glass has emerged as an ideal and environment-friendly alternative. Recycled glass containers are increasingly being used due to the desired functional and physical properties of glass. Furthermore, glass or recycled glass is also the only material used in packaging that has attained the “generally regarded as safe” status from the Food and Drug Association (FDA)– a major factor that is expected to fuel the adoption of recycled glass in the packaging sector. This factors is expected to drive the recycled glass market during the forecast period (2019-2027).
New Tracking Software Likely to Increase Glass Recycling Rate
Amidst growing concerns over environmental safety, several stakeholders in the current recycled glass market are taking significant efforts to increase the glass recycling rate and create awareness among business organizations and consumers. Glass bottle companies are increasingly vying to increase their revenues by streamlining glass recycling processes by leveraging new technologies and software modules.
For instance, Rocky Mountain Bottle Co., Momentum and others are some of the participants in the recycled glass market that are taking significant efforts to boost glass recycling by using advanced tracking software developed by End of Waste Foundation’s newly developed Blockchain Waste Traceability Software (BWTS). The software enables waste management companies, material recovery facilities (MRFs), and stakeholders in the recycled glass market to track glass from new products to curbside bins. According to software developers, the new software is likely to create significant awareness regarding recycled glass and expected to inspire other consumers to adopt the recyclable path. With additional research and advent of new technologies in the recycled glass market, glass recycling rates across North America and the Asia Pacific are expected to gain significant momentum over the course of the forecast period.
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The global recycled glass market is expected to grow at a healthy CAGR of ~7% during the forecast period. Mounting environmental concerns, need for a sustainable future, and increasing consumer awareness regarding the benefits of recycled glass are some of the major factors that are expected to provide an impetus for growth of the recycled glass market. In addition, stringent government policies pertaining to the use of single-use plastic have opened up new opportunities for stakeholders operating in the market for recycled glass.
Recycled Glass Market: Overview
- Glass is 100% recyclable. It can be recycled without loss of quality or purity. Glass recycling is processing of waste glass into usable products. Glass that is crushed and ready to be re-melted is called cullet.
- Use of recycled glass in manufacturing processes conserves raw materials and reduces energy consumption. Every 10% increase in cullet usage results in 2%–3% of energy savings in the melting process.
- In terms of demand, the Europe region is anticipated to dominate the global recycled glass market during the forecast period. The recycled glass market in Europe is likely to expand significantly in the next few years, due to growth of the food & beverages industry in the region. Moreover, the rise in building insulation and pipe insulation activities is expected to boost the global recycled glass market during the forecast period.
Key Drivers of Recycled Glass Market
- The glass container industry in North America is expanding, as glass is considered an eco-friendly material of packaging. Glass is a natural choice of health-conscious consumers who value high-quality ingredients and freshness. Moreover, glass is an ideal packaging solution for beverages. Several current market trends are largely influenced by the packaging of food and beverages, which offers significant opportunity to manufacturers of glass containers.
- According to the Glass Packaging Institute, the glass container industry in the U.S. is valued at US$ 5.5 Bn. Around 44 glass-manufacturing plants are operated in 21 states and 63 glass-processing facilities in 30 states across the country. A majority of glass containers sold in the U.S. are produced domestically. Furthermore, glass container manufacturers consistently invest in operations, technologies, and available equipment to further reduce the use of energy.
- Thus, increase in glass packaging across various industries, such as food & beverages and pharmaceutical, is projected to propel the global demand for recycled glass during the forecast period
Lucrative Opportunities for Recycled Glass Market
- Recycled glass is utilized to produce containers, kitchen tiles, countertops, and wall insulation. Glass manufacturers are also using recycled glass to improve sustainability and to reduce manufacturing costs.
- Use of recycled glass helps reduce emissions and consumption of raw materials; extends the life of plant equipment such as furnaces; and saves energy. In manufacturing processes, cullet requires less amount of energy to melt as compared to other raw materials.
- Recycled glass is a raw material used for the manufacture of glass, and the more the recycled glass is used, the greater is the reduction in energy consumption in a furnace. Thus, use of recycled glass lowers the cost of production for manufacturers of glass container. Furthermore, usage of recycled glass saves water consumption, which is required for virgin glass manufacturing. Thus, manufacture of glass products with recycled content requires less energy. This factor is projected to boost the global recycled glass market during the forecast period.
Asia Pacific to Dominate Recycled Glass Market
- In terms of volume, Europe dominated the global recycled glass market. The market in the region is expected to expand at a CAGR of 6.7% during the forecast period. Europe is an attractive region of the global recycled glass market, led by rise in the number of regulations regarding glass recycling and technological reforms in the region.
- China is a key country of the recycled glass market in Asia Pacific, owing to growth of industries, such as packaging, in the country. China is a major hub for automotive products, in which recycled glass is used due to its superior properties over recycled plastic.
- The recycled glass market in Asia Pacific is projected to remain highly lucrative during the forecast period, due to rapid industrialization and rise in the demand for recycled glass in the building & construction industry in the region
Glass Cullet Majorly Used in Manufacturing of Bottles and Jars
- In terms of volume, the glass cullet segment held a major share of the global recycled glass market in 2018. The segment is likely to expand at a CAGR of 5.5% during the forecast period. Glass cullet is primarily employed in the manufacture of new glass bottles and jars. Bottle-to-bottle recycling is a major use of recycled glass.
- The glass fines segment also held a considerable share of the global recycled glass market in 2018. Glass fines are primarily used in asphalt, construction aggregates, and road aggregates as well as for sand/abrasive grit blasting, sports turf/drainage, brickmaking, water filtration, and fiberglass insulation.
Leading Players Actively Engage in Joint Ventures and R&D Activities
- Key players operating in the global recycled glass market are
- Strategic Materials, Inc.
- ACE Glass Recycling
- Balcones Resources
- Gallo Glass Company
- Ripple Glass
- Pace Glass Inc.
- Momentum Recycling LLC
- 2M Ressources Inc.
- CAP Glass
- Bradish Glass, Inc.
- Dlubak Glass Company.
- These companies actively engage in expansions, mergers and acquisitions, and joint ventures in order to maintain their share in the global recycled glass market.
- In July 2017, Strategic Materials announced a partnership program with Dekalb County’s Sanitation Division to promote glass recycling in Atlanta, Georgia (the U.S.). After months of planning, nearly 20 glass recycling bins have been placed throughout the county, in which residents can conveniently drop off their glass recyclables in large, industrial-sized collection containers.
Recycled Glass Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global recycled glass market to accurately gauge its potential for growth. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for future growth of the global recycled glass market, to identify opportunities for stakeholders. The report also provides insightful information about how the global recycled glass market would expand during the forecast period i.e. 2019–2027.
The report offers intricate dynamics about different aspects of the global recycled glass market, which aids companies operating in the market in making strategic business decisions. TMR’s study also elaborates on significant changes that are anticipated to configure growth of the global recycled glass market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the global recycled glass market and estimates statistics related to the market in terms of value (US$ Mn) and volume (tons).
This study covers detailed segmentation of the global recycled glass market, along with key information and a competitive outlook. The report mentions profiles of players that are currently dominating the global recycled glass market, wherein various developments, expansions, and winning strategies practiced by these players have been presented in detail.
Key Questions Answered in TMR’s Report on Recycled Glass Market
The report provides detailed information about the global recycled glass market on the basis of comprehensive research on various factors that are playing a key role in promoting growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the global market and are looking for innovative methods to create a unique benchmark in the global recycled glass market so as to help them design successful strategies and make target-driven decisions.
- Which product segment of the global recycled glass market is estimated to emerge as a major revenue generator for the market during the forecast period?
- How are key market players successfully earning revenues from advantages offered by recycled glass?
- What would be the Y-o-Y growth trend of the global recycled glass market between 2019 and 2027?
- What are the winning imperatives of leading players operating in the global recycled glass market?
Research Methodology – Recycled Glass Market
The research methodology adopted by analysts for compiling the report on the global recycled glass market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global recycled glass market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of the data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global recycled glass market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global recycled glass market.
Recycled Glass Market- Segmentation
TMR’s research study assesses the global recycled glass market in terms of product, application, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing growth prospects for the global recycled glass market.
Bottles & Containers
Others (including Concrete, Asphalt, and Filler Applications)
Rest of World