According to a new
market research report published by Inkwood Research, the Global Recycled Glass
Market is predicted to project a CAGR of 5.59% in terms of revenue, and 6.19%
in terms of volume during the forecasting years of 2020-2028.
‘’Browse 60
Market Data Tables and 39 Figures spread over 147 Pages, along with an in-depth
TOC on the Global Recycled
Glass Market Forecast 2020-2028.’’
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Recycled glass is obtained upon the processing of waste
glass. It is considered to be 100% recyclable, and the quality and purity are
also retained. It constitutes of readily available domestic materials like
limestone, sand, cullet, soda ash, etc. Recycled glass can substitute almost
95% of the raw materials. Many states have a mandatory beverage container
deposit program to collect glass bottles.
Increasing
Awareness of Sustainable Development Propels Market Growth
Sustainable development and environmental awareness have
contributed significantly to the growth of the recycling market. Glass is a
fully recyclable material that offers environmental benefits like aiding in
climate change and the saving of precious natural resources. Glass is also
utilized in several applications for its inert nature. It enables in saving
energy like in the case of insulating glass for windows and facades, and
weight-lightening reinforcement glass fiber, which has its applications in
aviation, automotive, and other transport modes. In such applications, glass
helps in weight reduction and fuel consumption. The increasing demand for
recycled glass in such applications is propelling its overall market growth.
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Flat Glass
records the Highest CAGR in Terms of Revenue in the Application Segment
Flat glass is molded by melting a mixture of raw materials
that include, limestone, sand, and soda ash. Recycled flat glass is added to
the mix and then re-melted for producing new glass. Flat glass has strict
quality requirements in terms of optical defects. The advantage of
manufacturing flat glass using recycled glass is it requires less energy for
re-melting glass in comparison to the energy needed in melting the raw
materials. This results in the saving up of natural resources, due to reduced
carbon dioxide emissions and reduced use amount of raw materials.
Europe Records
the Fastest Growth Rate in Terms of Revenue
The European market region dominated the market in 2019. It
is further projected to dominate the market by the end of the forecast period,
along with recording the highest CAGR, among other regions. The industry data
on glass recycling dictates that the average glass recycling rate in Europe is
at 74%. The favorable government regulations and the promotion of glass
recycling at different levels further promote market growth of the region.
Gallo Glass Company, Coloured Aggregates Inc, Momentum
Recycling, etc. are the companies that have their operations in the market. The
market houses a moderate number of players with a moderate economic base.
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objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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