Westford, USA, July 21, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the global recycled glass market is experiencing a significant upsurge in growth due to rapid industrial development, which has resulted in the proliferation of landfills filled with waste. As environmental concerns gain momentum worldwide, there is a growing demand for sustainable solutions, and recycled glass has emerged as a viable and eco-friendly alternative.
Browse in-depth TOC on the "Recycled Glass Market"
- Pages - 242
- Tables - 68
- Figures – 75
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The global recycled glass market is poised to experience remarkable growth over the projected period, driven by several compelling factors. One of the key drivers is the significant environmental benefits associated with glass recycling, such as reduced emissions and energy savings.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 4.51 Billion |
| 2030 Value Projection | USD 7.35 Billion |
| CAGR | 6.4% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Recycled Glass Market
- Strategic Materials Inc.
- Coloured Aggregates Inc.
- Gallo Glass Company
- Ardagh Group S.A.
- Momentum Recycling LLC
- Vetropack Holding Ltd.
- Verallia Packaging SAS
- Owens-Illinois Inc.
- Glass Recycled Surfaces
- Vidroporto S.A.
- Vitro S.A.B. de C.V.
- Compagnie de Saint-Gobain S.A.
- Recresco Ltd.
- Pace Glass Inc.
- Richfield Industries
- Kimble Chase Life Science and Research Products LLC
- Triveni Glass Ltd.
- BMT CO. LTD.
- Gerresheimer AG
- Stölzle Glass Group.
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Cullet Segment is Expected to Grow in the Market Due to Growing Awareness Among Consumers
The cullet segment of the recycled glass market currently dominates with the largest market share and is projected to maintain its leadership throughout the forecast period. The market is further segmented into various products, including cullet, crushed glass, and glass powder.
The markets in the Asia Pacific are projected to witness the fastest growth in the recycled glass market during the forecast period. A key driving factor behind this surge is the growing awareness among consumers about the detrimental impacts of plastic usage in food storage and packaging.
Fiberglass Segment is Expected to Dominate the Market Due to its Numerous Advantageous Properties
The fiberglass segment is poised to witness substantial revenue growth over the forecast period due to its numerous advantageous properties in the recycled glass market. Fiberglass is known for its excellent insulation capabilities, making it a popular choice in industries that require thermal protection and energy efficiency.
Regional markets in Europe holds the largest market share in the global recycled glass market. This dominant position can be attributed to the region's commendable recycling efforts, with Europe boasting the highest recycling rate of 73% globally. The European governments' strong commitment to promoting recycling and using recycled products has played a pivotal role in sustaining this leading position in the market.
A comprehensive analysis of the major players in the recycled glass market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Recycled Glass Market
- In 2022, the renowned German automaker company, VW Group, made a significant stride towards sustainability by introducing a pilot project focused on car glass recycling. With this initiative, the company aims to tackle the mounting waste issue from broken and shattered car glasses. VW Group not only contributes to ecological progress but also stands to benefit from cost reduction measures by adopting recycling processes. This innovative approach underscores their commitment to responsible environmental practices while promoting the reuse of materials, which is crucial for creating a circular economy in the automotive sector.
- Sabic, a prominent global leader in the chemical industry, recently made a noteworthy announcement about the launch of a cutting-edge compound containing recycled glass fiber. This remarkable development showcases the company's dedication to sustainability and resource efficiency. Including recycled glass fiber at an impressive proportion of 36%, the new compound demonstrates outstanding mechanical properties compared to conventional virgin glass fiber counterparts.
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Key Questions Answered in Recycled Glass Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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