The Recycled Glass Market size is projected to reach US$ 5.42 billion by 2031 from US$ 3.52 billion in 2023. The market is expected to register a CAGR of 5.5% in 2023–2031. The growing focus on sustainable development is likely to remain a key Recycled Glass Market trend.
Recycled glass is widely used in the food and beverage industry for the packaging of beverages and food products, which is boosting the demand from the bottles and containers industry. Technological advancement in the manufacturing of recycled glass bottles and containers is intended to improve customization and sustainability. Increasing demand for reusable sources as an alternative to plastics, which are environmentally friendly, is encouraging manufacturers to use recycled glass bottles and containers to pack their food products and juices.
Glass obtained after the processing of waste glass into usable products is called recycled glass. It is 100% recyclable and can be recycled without any loss in quality or purity. It is made from readily available domestic materials such as sand, limestone, soda ash, and cullet, which is a term for furnace-ready recycled glass. Further, Wall insulation, countertops, containers, and kitchen tiles are all made from recycled glass components. Such increasing usage is likely to bolster the demand in the global recycled glass market. These materials help glass product makers save money by reducing raw material consumption, lowering hazardous emissions, conserving energy, and extending the life of glass plant machinery such as furnaces. These characteristics make them a valuable commodity in the manufacture of new glass items, thereby boosting the global recycled glass market.
Recycling glass contributes to a closed-loop system, reducing waste, pollution, and carbon emissions. As fiberglass insulation is one of the most cost-effective materials, it is frequently utilized in the roofs of homes and businesses. The sound-insulating properties of glass wool are exceptional, and heat transfer is also limited. Glass wool for sound insulation comes in various shapes and sizes and is suitable for use in aircraft. Fiberglass has a higher strength-to-weight ratio and is more long-lasting. It's also mould and mildew resistant, as well as able to survive natural changes. Fiberglass wool insulation is used in homes to keep them cool in the summer and warm in the winter. All these factors drive the fiberglass insulation market, thus creating the demand for recycled glass.
Manufacturers of recycled glass are working on ways to increase productivity and improve the overall quality of their products. Furthermore, a rise in the number of production and processing facilities will result in significant growth as a result of numerous government programs and regulations on waste management, increased recycling rates, and rising public awareness about sustainable development. A waste glass deposit program is being developed in several nations throughout the world. For example, in England, the regional government's deposit-return scheme covers all drink containers made of plastic, metal, or glass. The programme was created to reduce the quantity of litter damaging the water and land by rewarding consumers who returned their cans and bottles with a small monetary reward. Similar plans are in place in 38 countries throughout the world, which will help to strengthen the recycled glass sector.
Key segments that contributed to the derivation of the Recycled Glass Market analysis are base oil, product type, and end use industry.
The geographic scope of the Recycled Glass Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Europe has dominated the Recycled Glass Market. Many European countries are increasing their waste disposal rates, lowering the volume of glass waste disposals and fuelling recycled glass. Several countries in Europe have started initiating a waste glass deposit program to manage waste. In Europe, all drink containers, whether plastic, glass, or metal, are covered under the deposit-return scheme of the government which was announced to reduce the pollution of land and sea by recurring a small amount of cash to consumers who return their bottles and can. Thus, this scheme has propelled the demand for recycling in the glass market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Recycled Glass Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Recycled Glass Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.52 Billion |
| Market Size by 2031 | US$ 5.42 Billion |
| Global CAGR (2023 - 2031) | 5.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Recycled Glass Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Recycled Glass Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Recycled Glass Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
The “Recycled Glass Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: