Press release
Increased Demand For Sustainable Packaging Is Driving The Growth Of The Recycled Glass Market: An Emerging Driver Transforming The Recycled Glass Market Landscape
Recycled Glass
What Is the Projected Growth of the Recycled Glass Market?
The market size of recycled glass has significantly expanded in the past few years. Its growth is projected to increase from $3.25 billion in 2024 to $3.48 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. Factors contributing to the growth during the historic period include increasing awareness regarding waste glass recycling, heightened demand for environmentally-friendly products, swift industrialization and urbanization, and a surge in demand from various industries for recycled glass.
In the coming years, the recycled glass market is projected to exhibit a robust growth trajectory. By 2029, it is anticipated to reach a valuation of $4.24 billion, expanding at a compound annual growth rate (CAGR) of 5.1%. Such progression during the forecast duration is associated with various factors like the government's supportive rules for the industry, stringent policies regarding plastic consumption, enhanced consciousness programs, and escalating worries about the environment in relation to recycled glass. Notable trends during the projected period encompass the advent of new production technologies, breakthroughs in technology, product diversification, heightened environmental consciousness, and technological innovation.
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What Are the Different Recycled Glass Market 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
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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What Are the Primary Drivers Shaping the Recycled Glass Market?
The recycled glass market is set to experience growth due to a surge in demand for sustainable packaging solutions. This eco-friendly packaging is utilized in the storage, packaging, shipping, and shelving of products. The escalating popularity of sustainable packing arrives from multiple factors including mounting environmental apprehension, regulatory obligations, consumer choices, cost-effectiveness, and a transition towards the higher demand for circular economy. By mitigating the necessity for fresh glass production, recycled glass contributes to the sustainability of packaging, conserving energy, decreasing greenhouse gas emissions, limiting waste reached to landfills, preserving natural resources, and lessening the carbon footprints of packaging. For example, the Trivium Packaging, a packaging and containers manufacturer based in the Netherlands pointed out in April 2022 that the inclination towards sustainable packaging remained sturdy in 2022, with 70% of consumers self-identifying as environmental conscious, marking a 3% hike compared to the prior year. As a result, the recycled glass market has been significantly spurred by this augmented demand for sustainable packaging.
Which Companies Are Leading 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.
What Are the Major Trends Shaping the Recycled Glass Market?
Leading enterprises in the recycled glass market are introducing innovative products, such as reusable glass bottle systems, to foster sustainability in the drinks industry. The system involves reusable bottles made from glass or PET plastic which can be utilized repeatedly before being phased out and recycled. For example, in August 2023, a refillable glass bottle reuse system targeted at the wine industry was launched by Revino Inc., a wine brokering company based in the US. Revino is focusing on addressing the escalating concern for sustainability in the industry, especially surrounding the production of glass bottles which significantly contribute to carbon emissions. This ground-breaking system caters to the crucial need for sustainability in the wine sector by providing reusable glass bottles that can be refilled several times without jeopardizing their quality or integrity. Revino is facilitating the wine industry's shift towards reduced emissions and a more sustainable, circular model, by creating a closed-circuit system that keeps bottles in use.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Recycled Glass Market?
2. What is the CAGR expected in the Recycled Glass Market?
3. What Are the Key Innovations Transforming the Recycled Glass Industry?
4. Which Region Is Leading the Recycled Glass Market?
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