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 Market Analysis
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.
Recycled Glass Market Overview
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.
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Recycled Glass Market: Strategic Insights
Market Size Value in US$ 3,435.81 million in 2022 Market Size Value by US$ 4,571.62 million by 2028 Growth rate CAGR of 5.5% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Recycled Glass Market: Strategic Insights
| Market Size Value in | US$ 3,435.81 million in 2022 |
| Market Size Value by | US$ 4,571.62 million by 2028 |
| Growth rate | CAGR of 5.5% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Recycled Glass Market Drivers and Opportunities
Increasing Adoption of Fiberglass Insulation in End-Use Industries
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.
Rising Government Initiatives for Utilization of 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.
Recycled Glass Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Recycled Glass Market analysis are base oil, product type, and end use industry.
- Based on product type, the Recycled Glass Market is divided into glass cullet, glass fines, glass powder, polystyrene, and fillers and others. The glass cullet segment held a larger market share in 2023.
- By application, the market is segmented into bottles and container, fiber glass, flat glass, plastic fibres, and fillers and others. The bottles and container segment held the largest share of the market in 2023.
Recycled Glass Market Share Analysis by Geography
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.
Recycled Glass Market Report Scope
Recycled Glass Market News and Recent Developments
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:
- Coca-Coca Bottling Company UNITED is committed to creating a World Without Waste and has a goal of using 50% recycled material in their bottles by 2030. The bottling company is partnering with O-I Glass to capture more recycled glass to be created into new glass bottles. (Source: O-I Glass, Company News, 2022)
- Strategic Materials, Inc., North America’s largest glass recycler, today announced the launch of an eco-friendly filtration media, TruFiltration, made from 100% recycled glass, servicing residential and commercial filtration markets. (Source: Strategic Materials, Inc., Company News, 2021)
Recycled Glass Market Report Coverage and Deliverables
The “Recycled Glass Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, U.S., UAE, UK
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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