Rising demand for recycled glass due to its use in different sectors such as car, aerospace and military, is the key driver driving revenue growth

NEW YORK CITY, NEW YORK , UNITED STATES, December 15, 2022 /EINPresswire.com/ -- The global Recycled Glass Market size was USD 3,275.0 Million in 2021 and is expected to register a revenue CAGR of 5.6% over the forecast period, according to the latest report by Reports and Data.

The key driver driving revenue growth in the recycled glass market is rising demand for recycled glass due to its use in different sectors such as car, aerospace and military, manufacturing, food processing, power generation, and others. Broken waste glass is crushed, cleaned, sorted, and blended with additional raw materials such as soda ash and sand to generate recycled glass. It is melted to make new things of various sizes and shapes, such as bottles, jars, abrasives, containers, and insulating materials, and is therefore used in a variety of industries, including food and beverage (F&B), construction, and others.

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Top Companies: Strategic Materials, Inc., EPIC Glass Recycling, Balcones Resources, Gallo Glass Company, Coloured Aggregates Inc., Harsco Corporation, Momentum Recycling, Reiling GmbH & Co. KG, Verallia, and Bradish Glass, Inc.

Further Key Finding from the Report Suggestion:

According to the report, the global recycled glass industry is divided into three categories: deposit programmes, drop off/buy back facilities, and curbside pickups. In 2021, the drop off/buy back centres category accounted for a sizable revenue share. Drop off/buy back centres are facilities where discarded glasses are first delivered to a material recovery facility and then to a recycling factory where extracts are first separated, pollutants are removed, and finally a cleaning procedure is carried out. A large volume of glass garbage may be collected, making the procedure more beneficial than alternative options. It also helps to raise awareness about glass recycling among the local community.

In 2021, Europe will have the highest revenue share. People's increased knowledge of recycling methods, along with government programmes promoting the use of recycled glasses, is boosting market revenue growth in this area. The European Union has previously created the Circular Economy Package in order to promote effective waste management and recycling techniques. European nations such as Germany and the United Kingdom are raising landfill tax rates to prevent the dumping of glass debris in landfills, which is fueling market revenue growth. According to the Europe Glass Container Federation, the average collection rate for glass packaging recycling reached a new high of 78% in 2019.

InfinityQS International Inc., Fairfax, Virginia, announced on April 16, 2020, that Houston-based Strategic Materials, a glass recycler, will use its cloud-based Enact quality intelligence platform to standardise data collection and quality programmes across 31 of its recycling facilities, with plans to expand further. Enact is intended to give quality specialists at Strategic Materials real-time visibility into the functioning of these facilities' processes, allowing them to see and solve problems as they occur. Strategic Materials sells recycled glass to manufacturers of specialty glass products such glass containers, fibreglass insulation, highway bead, decorative glass, and glass fillers.

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Recycled Glass Market Scope and Segmentation:

Source Outlook (Revenue, USD Billion; 2019-2030)

Deposit Program
Drop Off/Buy Back Centers
Curb side Pickups

Product Outlook (Revenue, USD Billion; 2019-2030)

Cullet
Crushed Glass
Glass Powder

Application Outlook (Revenue, USD Billion; 2019-2030)

Glass Bottle & Containers
Fiber Glass
Highway Beads
Abrasives
Fillers
Others

Regional Outlook:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Key questions covered in the global Recycled Glass Market report:

What is the expected market size of the global Recycled Glass Market during the forecast period?
What factors are expected to hamper global Recycled Glass Market growth over the forecast period?
Which application segment is expected to dominate other application segments over the forecast period?
Which region is expected to dominate in terms of revenue during the forecast period?
What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
Which leading players are operating in the global Recycled Glass Market?

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