Research Nester released a report titled “Recycled Glass: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the recycled glass market in terms of market segmentation by product, by application, by source, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Recycled glass is the product obtained when glass is transformed into a cullet and the external cullet which is considered waste is reprocessed. Owing to applications in manufacturing recyclable products and serving as an alternative to plastic, the global recycled glass market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. Based on product type, the market is bifurcated into cullet, crushed glass and glass powder, out of which, the leading market share is estimated to be held by cullet. This can be attributed to its ease of processing into recycled glass. The applications of recycled glass is further bifurcated into fiberglass insulation, bottles and containers, ceramic sanitary ware, brick manufacture, water filtration, abrasives and others, out of which, the bottles and containers is estimated to hold leading share as the bottles are highly preferred among the consumers owing to its low-cost and reusability.
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Geographically, the global recycled glass market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in North America is predicted to hold the leading share on account of presence of leading market players in the region which manufacture and market recycled glass. Additionally, the market in Europe is predicted to grow at the highest rate during the forecast period as a result of growing awareness and initiatives towards recycling glass in the region.
Favorable government regulations and waste management practices to Boost the Market Growth
The demand for recycled glass is high owing to the rising inclination towards using recyclable products which is driven by increasing awareness and eco-responsibility among people. Additionally, various authoritative bodies across the world are raising awareness and offering initiatives related to adopting ecofriendly solutions in an attempt to curb plastic usage and protect critical marine environment. According to UNESCO (United Nations Educational, Scientific and Cultural Organization), 30-35 percent of the global extent of critical marine habitats such as sea grasses, mangroves and coral reefs are estimated to have been destroyed and by the year 2100, more than 50% of the marine species might stand on the brink of extinction. Such factors are anticipated to significantly drive the market growth. However, complex sorting processes and contamination is estimated to hamper the market growth.
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This report also provides the existing competitive scenario of some of the key players of the global recycled glass market which includes company profiling of Strategic Materials, Inc., Vetropack, United Resource Management, GLASS RECYCLED SURFACES, Momentum Recycling, LLC, Dlubak Glass Company, Vitro Minerals, Inc., Gallo Glass Company and Consol. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global recycled glass market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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