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Recycled Glass Market 2024 - Top Manufactures, Growth Rate, Revenue And Forecast To 2033
Recycled Glass Market
Recycled Glass Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $4.10 Bn In 2028 At A CAGR Of 5.9% :
The recycled glass market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising concerns about waste glass recycling, increase in demand for sustainable products, rapid industrialization and urbanization, rising demand for recycled glass across a variety of industries, rising demand for recycled glass.
The recycled glass market size is expected to see strong growth in the next few years. It will grow to $4.10 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to government regulations in favor of industry, implementation of stringent government policies around plastic use, increased awareness programs, growing environmental concerns about recycled glass, government regulations. Major trends in the forecast period include new advancements in production technologies, technological advancements, product diversification, environmental awareness, technological innovations.
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Recycled Glass Market Major Segments
The recycled glass market covered in this report is segmented -
1) By Product: Cullet, Crushed Glass, Glass Powder
2) By Source: Deposit Program, Drop Off Or Buy Back Centers, Curb Side Pickups
3) By Application: Bottle And Container, Flat Glass, Fiberglass, Highway Beds, Abrasives, Fillers, Other Applications
Key Driver - Increased Demand For Sustainable Packaging Is Driving The Growth Of The Recycled Glass Market
Increased demand for sustainable packaging is expected to propel the growth of the recycled glass market going forward. Sustainable packaging is eco-friendly material used to wrap, store, ship, or shelve products. The demand for sustainable packaging is increasing due to growing environmental concerns, regulatory pressures, consumer preferences, cost savings, and the shift towards a circular economy. Recycled glass helps sustainable packaging by reducing the need for new glass production, which saves energy, reduces greenhouse gas emissions, and minimizes waste sent to landfills while conserving natural resources and lowering the carbon footprint of packaging. For instance, according to Eurostat, a Luxembourg-based statistical office, European Union residents generated 188.7 kilograms of packaging waste per capita in 2021, marking a substantial increase of 10.8 kilograms per person compared to 2020. Therefore, increased demand for sustainable packaging is driving the growth of the recycled glass market.
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Prominent Trend - Innovative Refillable Glass Bottle Reuse System Promotes Sustainability In The Beverage Industry
Major companies operating in the recycled glass market are developing innovative products, such as refillable glass bottle reuse systems, to promote sustainability in the beverage industry. The refillable glass bottle reuse system involves refillable bottles made from glass or PET plastic, which can be reused multiple times before being retired and recycled. For instance, in August 2023, Revino Inc., a US-based wine brokering company, launched a refillable glass bottle reuse system tailored to the wine industry. Revino aims to address the growing concern for sustainability within the sector, particularly regarding glass bottle production, which contributes heavily to carbon emissions. This innovative system addresses the critical need for sustainability within the wine sector by offering reusable glass bottles that can be refilled multiple times without compromising quality or integrity. Revino supports the wine industry's transition towards lower emissions and a more circular and sustainable model by establishing a closed-loop system that keeps bottles in circulation.
Recycled Glass Market Players
Major companies operating in the recycled glass market are Compagnie de Saint-Gobain S.A., Ardagh Group S.A., Verallia Packaging SAS, Vitro S.A.B. de C.V., Vetropack Holding Ltd., Kimble Chase Life Science and Research Products LLC, Consol Glass (Pty) Ltd., Stölzle Glass Group, Strategic Materials Inc., Vidroporto S.A., BMT Co. Ltd., Richfield Industries, Recresco Ltd., Balcones Resources, ACE Glass Recycling, Gallo Glass Company, Pace Glass Inc., Coloured Aggregates Inc., G.R.L. Glasrecycling NV, 2M Ressources Inc., Dlubak Glass Company, Harsco Minerals International, O-I Glass Inc., Berryman Glass Recycling, Trivitro Corporation GRL, Momentum Recycling LLC, Glass Recycled Surfaces, Ripple Glass, Gerresheimer AG, Triveni Glass Ltd.
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the recycled glass market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recycled glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Recycled Glass Market Report Structure
3. Recycled Glass Market Trends And Strategies
4. Recycled Glass Market - Macro Economic Scenario
5. Recycled Glass Market Size And Growth
…..
27. Recycled Glass Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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