Pune, Jan. 13, 2023 (GLOBE NEWSWIRE) -- According to a report by Maximize Market Research, the global market for recycled glass will grow at a 6.31% CAGR to reach USD 5894.2 Mn. by 2029. Thanks to the growing demand for recycled glass in Industries like automobiles, food processing, and others to boost the Recycled Glass Market growth.
Recycled Glass Market Scope and Research Methodology
The research methodology used to collect data for research report includes a mix of primary and secondary research. Both primary resources and secondary research along with analytical tools are employed to build the predictive and forecast models. The key data points taken from secondary research include data for market value, qualitative insights into various aspects of the market, key trends, and emerging areas of innovation, quantitative data for mathematical and statistical calculations, segmentations and percentage shares, and key industry trends of the top players of the recycled glass market.
The research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global recycled glass market.
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Recycled Glass Market Overview
Recycled glass is a product made from old and discarded glass. This recycled glass is then used to create new useful products. Glass can be recycled indefinitely by crushing, melting, and blending it with sand and other starting materials. Cullet is the term for furnace-ready recycled glass. Manufacturers recycle and reuse glass because of its exceptional property of being completely recyclable without affecting quality or purity. Increased demand from glass manufacturing companies, owing to the exceptional quality of recycled glass, is expected to drive market growth. Almost 95% of the raw materials used in glass production can be replaced by recycled glass, which is cost-effective. Rising consumer awareness of the importance of sustainable development is expected to drive market demand. However, glass recycling requires the use of machines for crushing, melting, and binding waste glass, which requires a significant initial investment.
Recycled Glass Market Dynamics
The closed-cell porous structure of recycled glass aggregates holds any organic porosity from glass pollution, recycled glass aggregates fines do not require additional energy-consuming recycling processes, the drying shrinkage of concrete foams is significantly reduced with the addition of glass fines in recycled glass aggregates, the potential ASR (alkali-silica reaction) of traditional concrete glass fines can be org (alkali-silica reaction).
Market participants are focusing on growing their presence in regions where the recycled glass aggregates industry is rapidly growing. In addition, key players are focusing on forming alliances with local vendors, distributors, and recycled glass aggregate companies to promote their products. These factors are expected to act as catalysts for the growth of the recycled glass aggregates market during the forecast period.
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Recycled Glass Market Regional Insights
The presence of all industrial and commercial sectors in North American and European countries, as well as the presence of globally prominent players, is a boon for the recycled glass aggregates market in these regions. Rapid industrialization and construction activities in the Asia Pacific and Latin America, particularly in China, Brazil, and India, are expected to drive the recycled glass aggregates market.
The rising desire of consumers to own a home is expected to drive the residential construction sector, which is expected to drive demand for recycled glass market over the forecast period. For example, it is estimated that over a million new households were created in 2015, but only 620,000 new housing units were completed, resulting in a 430,370-unit shortage. This disparity has pushed up home prices and rents, a trend that will likely continue in the absence of immediate policy changes. Furthermore, all construction buildings built in the past have a certain operational life after which the structure becomes dangerous because it can collapse after prolonged use.
| Market Size in 2021 | USD 3612.7 Mn. |
| Market Size in 2029 | USD 5894.2 Mn. |
| CAGR | 6.31 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 213 |
| No. of Tables | 110 |
| No. of Charts and Figures | 112 |
| Segments Covered | Product Type, Application. |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Recycled Glass Market Key Competitors:
- Consol Glass (Pty) Ltd.
- Dlubak Glass Company
- Vitro Minerals, Inc.
- Glasrecycling NV
- Harsco Minerals International
- Coloured Aggregates
- Gallo Glass Company
- Strategic Materials, Inc.,
- Vetropack Holding
- Berryman Glass Recycling
- Glass Recycled Surfaces
- Momentum Recycling, LLC
- Trivitro Corporation
- O-I Glass Inc.
- Reiling GmbH & Co. KG
- Strategic Materials Inc
- United Resource Management
- Verallia and Vetropack Holding Ltd.
- Ardagh Group S.A.
- Glasrecycling
Key questions answered in the Recycled Glass Market are:
- What are the technological innovations in Recycled Glass Market?
- What are the factors driving the growth of the Recycled Glass Market?
- Which technology insight dominated the Recycled Glass Market in 2021?
- How has COVID-19 affected the growth of the Recycled Glass Market?
- What is the growth rate of the Recycled Glass Market during the forecast period?
- What are the trends of the Asia-Pacific region in the Recycled Glass Market?
- Who are the market leaders in Recycled Glass in North America region?
- Which deployment mode led the Recycled Glass Market in 2021?
- Who are the key players in the Recycled Glass Market?
- What are the factors restraining the growth of the Recycled Glass Market?
- Which region held the largest market share in Recycled Glass Market?
- What is the growth rate of the North America Recycled Glass Market
- What is a key feature of Recycled Glass?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – by Product Type, Application, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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About Maximize Market Research:
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