A recent report published by Infinium Global Research on recycled glass market provides an in-depth analysis of segments and sub-segments in the global as well as regional recycled glass market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional recycled glass market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global recycled glass market. According to the report, the global recycled glass market is projected to grow at a CAGR of 5.9% over the forecast period of 2019-2025.
Glass is a material that can be reprocessed indefinitely, and the use of recycled glass to manufacture products results in a reduction in the use of energy and raw materials. Glass collected for recycling primarily comes from food and drink bottles and jars, and includes clear, green and amber glass. The two main outputs of glass reprocessing are cullet and glass fines.
The growing food and beverage industry coupled with the increasing regulations about the greenhouse gas emission drives the growth of the recycled glass market. Recycled glass containers are required because glass manufacturers require high-quality recycled container glass to meet market demands for new glass containers. Recycled glass can be replaced for up to 95% of raw materials. According to the Glass Packaging Institute, over a ton of natural resources are saved for every ton of glass recycled. The glass manufacturers can benefit from recycling in several ways as recycled glass reduces emissions and consumption of raw materials. It also extends the life of plant equipment, such as furnaces, and saves energy. Furthermore, recycled glass is always part of the recipe for glass, and the more that is used, the greater the decrease in energy used in the furnace. This makes using recycled glass profitable in the long run, lowering costs for glass container manufacturers and benefiting the environment. Thereby, favoring the growth of the recycled glass market. However, the high operational cost of recycling is most likely to restrain the market growth. Moreover, the increasing focus on the control of greenhouse gases is anticipated to provide beneficial opportunities for the growth of the recycled glass market.
Among the regions, North America holds the largest share in the global recycled glass market. In the U.S., there are 44 glass manufacturing plants operating in 21 states and 63 glass beneficiating facilities in 30 states. Furthermore, stringent environmental regulations and incentives by the government favor the growth of the recycled glass market in the North America region. Europe and the Asia Pacific are also anticipated to grow at a significant rate over the forecast period owing to the growing awareness about the adverse effects of pollution and increasing landfills.
The report on global recycled glass market covers segments such as product, and application. On the basis of product, the sub-markets include cullet, crushed glass, and glass powder. On the basis of application, the sub-markets include bottles, flat, fiberglass, highway beads, abrasives, fillers, and other.
The report provides profiles of the companies in the market such as Strategic Materials, Inc., Dynamic Glass, Vetropack Holding, Momentum Recycling, Ardagh Group S.A., Owens Illinois Inc., Gallo Glass Company, Reiling Glas Recycling GmbH & Co., Heritage Glass Group, Ngwenya Glass, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of recycled glass market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.