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Global Recycled Glass Market Projected to Grow at 5.1% CAGR, Reaching $4.24 Billion by 2029
Recycled Glass Market
What Will the Recycled Glass Industry Market Size Be by 2025?
The market size for recycled glass has seen significant growth in the recent past. The market is anticipated to expand from a value of $3.25 billion in 2024 to $3.48 billion in 2025, marking a compound annual growth rate (CAGR) of 7.1%. The growth during the historical period is associated with several factors such as increasing awareness about waste glass recycling, growing demand for eco-friendly products, fast-paced industrialization and urbanization, and increased needs for recycled glass in various industries.
What's the Long-Term Growth Forecast for the Recycled Glass Market Size Through 2029?
In the coming years, the recycled glass market is predicted to experience robust expansion. It is projected to reach $4.24 billion by 2029, with a compound annual growth rate (CAGR) of 5.1%. The anticipated growth during the forecast period can be ascribed to governmental regulations supporting the industry, the enforcement of strict policies on plastic usage, expanded awareness initiatives, rising ecological worries related to recycled glass, and government regulations. Noteworthy trends during the forecast timeframe include innovations in production techniques, technological advancements, product diversity, heightened environmental consciousness, and technological innovations.
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What Are the Key Growth Drivers Fueling the Recycled Glass Market Expansion?
The upward trend in the recycled glass market is anticipated to continue due to the rising demand for sustainable packaging. This eco-friendly packaging substance is used to encase, preserve, transport, and store products. The surge in concerns surrounding the environment, regulatory pressures, changes in consumer preferences, cost reductions, and the move towards a circular economy are all driving the demand for sustainable packages. Recycled glass plays essential role in promoting sustainable packaging, as it decreases the necessity for producing new glass. This results in energy conservation, a decrease in greenhouse gas emissions, waste reduction in landfills, conservation of natural resources, and also diminishes the carbon footprint caused by packaging. For example, Trivium Packaging, a Dutch packaging, and container manufacturing firm reported in April 2022 that sustainable packaging demand maintained its strength in 2022. This demand was driven by 70% of consumers acknowledging their environmental awareness, a 3% increase from the previous year. Thus, the rising demand for sustainable packaging is fueling the expansion of the recycled glass market.
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What Are the Key Trends Driving Recycled Glass Market Growth?
Companies like Revino Inc. in the recycled glass industry are coming up with unique products like refillable glass bottle reuse systems. These products are designed to enhance sustainability within the beverage sector. The system comprises of refillable bottles made from glass or PET plastic, which can be utilized repeatedly before they are finally recycled. In August 2023, Revino Inc., a US-based firm prevalent in the wine industry, introduced this refillable glass bottle reuse system specifically for the wine sector. The objective is to deal with the pressing issues of sustainability in this industry, especially the high carbon emissions resulting from glass bottle production. This system addresses the vital need for sustainability in the wine industry by offering glass bottles that can be reused multiple times without affecting their quality or durability. Through this, Revino aids the wine sector's transition towards low emissions and a circular, sustainable model by creating a closed-loop system to keep bottles in rotation.
How Is the Recycled Glass Market Segmented?
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 Companies Are Leading the Charge in Recycled Glass Market Innovation?
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.
Which Regions Are Leading the Global Recycled Glass Market in Revenue?
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.
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