Recycled Glass Market Research Reports 2021 Global Industry Size, InDepth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis

The Recycled Glass Market is expected to grow from US$ 3,435.81 million in 2022 to US$ 4,571.62 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.

Glass recycling is a common practice followed in many countries across the globe. The glass packaging industry prefers recycled glass because it requires less energy to process and is more cost-effective than virgin glass. The waste generated in glass recycling is very low during the manufacturing process, and the same glass can be used repeatedly. The carbon footprint caused due to glass packaging can be dramatically reduced through the use of recycled glass. For instance, every 10% of recycled glass or cullet used in production results in an ~5% reduction in carbon emissions and saves ~3% of energy. The innovation in the glass recycling industry to improve the efficiency of the recycling rate has created attractive opportunities for recycled glass in the coming years. In the construction industry, recycled glass is used in concrete glass asphalt substrate, tiles, masonry blocks, flooring, and other decorative purposes.

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Analysis of the Top Market Players:

1. Coloured Aggregates Inc.
2. Gallo Glass Company
3. Strategic Materials, Inc.
4. Vetropack
5. O-I Glass, Inc.
6. Dlubak Glass Company
7. G.R.L, Glasrecycling
8. Ardagh Group S.A.
9. Bradish Glass, Inc.
10. Momentum Recycling, LLC

In this report, the market has been segmented on the basis of:

Product Type (Glass Cullet, Glass Fines, and Glass Powder)
Application (Bottle and Container, Flat Glass, Fiber Glass, Highway Beads, Fillers, and Others)

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The major factors driving the recycled glass market growth are increased demand for eco-friendly packaging and per-capita income in developing economies. The COVID-19 pandemic has further decreased the demand for recycled glass due to the slowdown of major economies across the globe. Furthermore, the growth in the food & beverages, pharmaceutical, construction, and paints & coatings industries in various countries is projected to offer lucrative opportunities for the recycled glass market during the forecast period. However, the fluctuations in the prices of glass cullet and other product type are expected to hamper the market growth during the forecast period.

Based on product type, the recycled glass market is segmented into glass cullet, glass fines, and glass powder. The glass cullet segment held the largest share in the recycled glass market in 2021. The glass cullet is mostly used in bottles and containers, for manufacturing flat glass, and also in highway beads. Glass cullet in the industry is also known as furnace-ready recycled glass and is highly preferred in packaging industries.

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