Press release
Recycled Glass Market Set to Reach $4.24 Billion by 2029 with 5.1% Yearly Growth
Recycled Glass Market
The recycled glass market's expansion is predicted to be fueled by a rising demand for sustainable packaging. This eco-friendly material, used for wrapping, storing, shipping, or shelving products, is seeing a surge in demand in response to increasing environmental concerns, regulatory forces, consumer tastes, cost efficiencies, and the shift toward a circular economy. Recycled glass contributes to sustainable packaging by mitigating the necessity for new glass production, which conserves energy, reduces greenhouse gas emissions, minimizes waste sent to landfills, conserves natural resources, and decreases the carbon footprint of packaging. For example, in April 2022, Trivium Packaging, a Dutch packaging and container manufacturing firm, reported that in 2022, the demand for sustainable packaging stayed strong, with 70% of consumers labeling themselves as environment-conscious, a 3% rise from the previous year. Thus, the recycled glass market's growth is being propelled by the increasing demand for sustainable packaging.
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What growth opportunities are expected to drive the recycled glass market's CAGR through 2034?
There has been impressive growth in the recycled glass market over recent years. The market, evaluated at $3.25 billion in 2024, is projected to expand to $3.48 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. The significant growth during the historical period can be credited to an increasing focus on waste glass recycling, amplified demand for eco-friendly products, swift industrial and urban expansion, and an upsurge in demand for recycled glass across various industries.
In the years to come, the market size for recycled glass is slated for robust expansion, scaling up to $4.24 billion by 2029 at a compound annual growth rate (CAGR) of 5.1%. This upward shift during the forecast period is due to government regulations supporting the industry, rigorous government policies against plastic use, enhanced awareness initiatives, escalating environmental worries about recycled glass, and government mandates. The forecast period also exhibits key trends like the emergence of new production technologies, technological progress, expanding product variety, heightened environmental consciousness, and technological innovation.
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What are the emerging trends shaping the future of the recycled glass market?
Top-tier companies in the recycled glass industry are coming up with innovative solutions like refillable glass bottle reuse systems to advocate sustainability in the beverage sector. This system encompasses refillable bottles, whether glass or PET plastic that could be reused many times prior to eventual retirement and recycling. For example, in August 2023, a US-based wine brokering enterprise, Revino Inc., introduced a refillable glass bottle reuse system specifically designed for the wine industry. The company is targeting heightened awareness for sustainability in the sector, especially in the field of glass bottle production, a major contributor to carbon emissions. This unique system caters to the urgent demand for sustainability in the wine industry by providing reusable glass bottles that can be refilled several times without degrading the bottle quality or strength. Revino aids the transition of the wine sector towards reduced emissions and a circular, sustainable model by promoting a self-sustaining system that perpetually recycles bottles.
Which growth-oriented segments of the recycled glass market are leading the industry's development?
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
Subsegments:
1) By Cullet: Post-consumer Cullet, Post-industrial Cullet, Mixed Cullet, Clear Cullet, Colored Cullet
2) By Crushed Glass: Crushed Glass for Construction, Crushed Glass for Landscaping, Crushed Glass for Industrial Applications, Crushed Glass for Water Filtration
3) By Glass Powder: Glass Powder for Manufacturing, Glass Powder for Road Construction, Glass Powder for Paints and Coatings, Glass Powder for Other Industrial Uses
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Which region dominates the recycled glass market?
Europe was the largest region in the recycled glass market in 2024. 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.
What companies are at the forefront of innovation in the recycled glass market?
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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What Is Covered In The Recycled Glass Global Market Report?
•Market Size Forecast: Examine the recycled glass market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the recycled glass market for a structured understanding.
•Key Players Overview: Analyze major players in the recycled glass market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the recycled glass market.
•Segment Contributions: Evaluate how different segments drive overall growth in the recycled glass market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the recycled glass market.
•Industry Challenges: Identify potential risks and obstacles affecting the recycled glass market.
•Competitive Landscape: Review strategic developments in the recycled glass market, including expansions, agreements, and new product launches.
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