Portland, OR, March 24, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global recycled glass market accounted for $3.53 billion in 2017 and is anticipated to garner $5.54 billion by 2025, registering a CAGR of 5.7% from 2020 to 2025. The report offers an in-depth analysis of changing market dynamics, top leading strategies, competitive scenarios, and major market players.
Growing awareness regarding sustainable development among consumers along with supportive government regulations have boosted the growth of the global recycled glass market. However, complex recycling processes and the steep cost of recycling glass hamper the market. On the contrary, developments in promoting the use of recycled glass are expected to create lucrative opportunities in the near future.
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The global recycled glass market is segmented on the basis of product, application, and geography. Based on product, the market is divided into cullet, crushed glass, and glass powder. The cullet segment held the largest share in 2017, accounting for more than three-fifths of the market. Moreover, the segment is expected to register the highest CAGR of 5.9% during the forecast period.
On the basis of application, the market is categorized into bottle & container, flat glass, fiberglass, highway beads, and others. The flat glass segment is anticipated to portray the highest CAGR of 7.0% during the forecast period. However, the bottle & containers segment held the largest share in 2017, accounting for one-third of the market.
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The global recycled glass market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe would show the highest CAGR of 6.3% during the forecast period. This is due to supportive government regulations that are involved in the promotion of recycled glasses at institutional, public, and professional levels. However, the market across North America dominated in 2017, accounting for one-third of the market, owing to the presence of major players in the region.
The global recycled glass market report includes an in-depth analysis of the major market players such as Strategic Materials, Reiling Glass Recycling GmbH & Co. KG, Momentum Recycling, Coloured Aggregates Inc., Glass Recycled Surfaces, Vetropack Holding Ltd., Harsco Corporation, Gallo Glass Company, Ngwenya glass, and G.R.L, Glasrecyclin.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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