According to the report by Expert Market Research (EMR), the global recycled glass market is projected to grow at a CAGR of 5.70% between 2024 and 2032. Aided by the escalating environmental concerns and the pivotal role of recycled glass in sustainable development, the market is expected to grow significantly by 2032.
Recycled glass, derived from post-consumer used bottles and glass containers, is an exemplar of circular economy in action. It can be perpetually recycled without any loss in purity or quality. Apart from its predominant use in creating new glass containers, it also finds applications in asphalt manufacturing, fibreglass insulation, sandblasting, and as an aggregate in construction.
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The mounting emphasis on sustainability and waste reduction is significantly steering the recycled glass market growth. With heightened awareness about environmental degradation, landfill limitations, and climate change, there has been a tangible paradigm shift towards eco-friendly materials and practices. Recycled glass, thus, emerges as a prime candidate, not only reducing the need for raw materials but also decreasing energy consumption and carbon emissions during production.
construction sector is increasingly deploying glass cullet, a crushed recycled glass, as an aggregate, citing its non-reactive nature and aesthetic appeal and further propelling the global recycled glass market demand. In the realm of beverages and food, the allure of sustainable packaging has led to a revival of glass containers, with many brands spotlighting their use of recycled glass as a testament to their eco-commitment.
Additionally, the rise of sustainable urban planning and ‘green building’ concepts has propelled the use of recycled glass in architectural applications. From countertops, tiles, and wall insulation to decorative facades and sustainable landscapes, the versatility and aesthetic appeal of recycled glass have garnered significant attention which further increases the value of the global recycled glass market size. Not to mention, its use in water filtration processes, owing to its effective contaminant-trapping properties, further widens its application spectrum.
Governmental regulations and incentives have also played a decisive role in the recycled glass market’s growth trajectory. Many regions across the globe have rolled out stringent guidelines for waste management, landfill use, and emissions. As per the global recycled glass market analysis, coupled with tax benefits and subsidies for recycling initiatives, these measures have stimulated both the supply and demand sides of the market.
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Recycled Glass Market Segmentation
The market can be divided based on product, application, and region.
Market Breakup by Product
- Crushed Glass
- Cullet
- Glass Powder
Market Breakup by Application
- Highway beads
- Flat Glass
- Fiber Glass
- Bottle and Container
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global recycled glass market. Some of the major players explored in the report by Expert Market Research are as follows:
- Strategic Materials, Inc
- Vetropack Holding Ltd
- Momentum Recycling, LLC
- Dlubak Glass Company
- O-I Glass, Inc
- Others
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