- Rising demand for glass bottles from the food and beverage sector, and cosmetics will remain major drivers for growth in the recycled glass market
- The growth in recycling has led to significant economies of scale in the recycled glass bottle market. The newly found cost-efficiencies, and significant prospects of growth on the horizon will drive the market to a robust valuation of US$4.6 bn by 2027 end
ALBANY, New York, Feb. 24, 2020 /PRNewswire/ -- The rising demand for recycled glass for applications like filtration, fiberglass insulation, and abrasives will create new opportunities for growth in the recycled glass market. The increasing awareness about recycling programs, and increased emphasis by the industry to avail cost-effective raw materials will promise new avenues for growth.
According to Transparency Market Research (TMR) analysts, "The growth is expected to drive lucrative new opportunities in Asia Pacific region, wherein manufacturing hubs are expected to make way for new applications. The rising consumer awareness, and favorable government policies will be a major boon for growth for the recycled glass market in near future".
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Key Findings of the Recycled Glass Market Study
Explore the actionable insights from the report on global Recycled Glass Market available under the title: Recycled Glass Market (Product: Glass Cullet and Glass Fines; and Application: Bottles & Containers, Fiberglass Insulation, Abrasives, Filtration, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/recycled-glass-market.html
Key Impediments for Recycled Glass Market Players
Adoption of advanced manufacturing, and recycling technique are making way for cost-effective, and more productive glass manufacturing techniques. In recent times, glass tracking technology has also helped manufacturers keep tabs on their recycling rates, and expand procurement. However, cost-effectiveness of such techniques remain a challenging barrier to adoption in the recycled glass market.
The new software in the market continue to make life easier for glass manufacturers, and waste disposal organizations. However, its limited adoption in new region of Asia Pacific will prohibit its growth in near future.
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Recycled Glass Market: Region-wise Analysis
The recycled glass market will likely exhibit strong growth in North America region. The region is witnessing growing demand for recycled glass products in the pharmaceutical sector, and food and beverage sector. The growing demand for recycled products in the region is also expected to rise further, thanks to positive adoption of recycling measures in the region. The demand for recycled glass is also expected to rise in Europe, as many countries in the region have banned the use of single-use plastics. The European region is expected to witness tightening of regulations surrounding single-use plastics in near future, which will drive further growth for players in the recycled glass market. The Asia Pacific region will likely register highest CAGR during the forecast period of 2019-2029, thanks to growing demand for recycled glass products in construction and manufacturing in the region. Countries like India have announced major investments in construction sector, wherein the country will witness capital infusion of over US$1.4 trillion over the next five years. The rising utilization of recycled glass in constructions sector, and its application in window frames, doors, and pipes will be key factor for growth in near future.
Analyze recycled glass market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
According to TMR study, the recycled glass market exhibits a competitive and fragmented landscape. The market is home to several large, and small players. Moreover, the expansion of the market in new regions will likely create new opportunities for growth for new players. This will likely drive further fragmentation, and more innovation in the market. Some global key players in the recycled glass market are Strategic Materials, Inc.ACE, Glass Recycling, Balcones Resources, Gallo Glass Company, Ripple Glass, Pace Glass Inc.
Recycled Glass Market: Taxonomy
Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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