Recycled Glass Market Its Competitive Analysis Between 2018 – 2024
Recycled glass is a sustainable material providing
boundless ecological aids including contribution to mitigating climate change
and saving valuable natural resources as vitric products can be recycled in
close loop endlessly. On an average, the glass bottle has a recycling rate of
50% to 80% which conserve a significant amount of raw material. The use of
product during the manufacturing of vitric products will also conserve the
energy consumption as the cullet melt at a lower temperature than raw material.
Consequently, low energy consumption is required for
melting purpose. Increasing demand for the use of vitric products will fuel the
recycled glass market owing to the inert property which preserve taste and
nutrients of the food and beverage product. Additionally, it is also used in
pharmaceutical industry to preserve the medicines composition and properties
which will increase the demand of vitric products and further spur the recycled
glass market. Recycled Glass Market size will
surpass USD 4.4 billion by 2025; according to a new research report by Global
Market Insights, Inc.
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In current
years, legislative pressure and improvement in cullet quality have
significantly influenced the recycled glass market. For instance, The Producer
Responsibility Obligation Regulation in Europe introduced Packaging Recovery
Note (PRN) system which made product market more economically attractive. The
combination of above mentioned regulation with Climate Change Levy has made the
lower energy requirements of using cullet as a raw material in place of virgin
materials which act as a key factor in reaching industry targets for reducing
energy consumption. Moreover, the Pollution Prevention and Control legislative
in Europe targets to reduce pollution which bounded the glass companies to
increase the use of recycled product, which will fuel the recycled glass market
by the end of 2025.
The different sources include deposit program, curbside,
buyback/drop off program. Among all, curbside will hold around one-third of the
total recycled glass market throughout the forecast span. Curbside program
includes material recovery facility which provide collection of single stream
waste, followed by sorting and segregation of waste. This program will
experience sluggish growth during forecast timespan owing to the production of
low quality cullet.
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On revenue basis, clear cullet is likely to account for around 60% of the global recycled glass market in 2025. Clear cullet is manufactured generally from soda, beer bottle, flat glass, soft drink bottles, food bottles, including pickle jars, sauce bottle, honey, cider and others. Alcohol packaging industry play a vital role in the recycled product market as it acts as main raw material supplier and end-user industry of the product market.
On revenue basis, clear cullet is likely to account for around 60% of the global recycled glass market in 2025. Clear cullet is manufactured generally from soda, beer bottle, flat glass, soft drink bottles, food bottles, including pickle jars, sauce bottle, honey, cider and others. Alcohol packaging industry play a vital role in the recycled product market as it acts as main raw material supplier and end-user industry of the product market.
Sweden recycled glass market is likely to generate the revenue around USD
6.9 million in 2025 as the government has provided various subsidiary on the
product to increase the recycling rate of the vitrics products. According to
Avfall Sverige, Sweden is aiming for zero waste future by the end of 2020. The
country even imports waste from UK, Norway, Italy, etc. and recovers more
energy from each ton of the product than other countries.
Major players in the recycled glass industry which holds the major market
chunk include Ardagh group, Momentum Recycling, Strategic Materials, Harsco
Minerals International and Heritage Glass.
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
Recycled Glass Market Its Competitive Analysis Between 2018 – 2024
Reviewed by GMI
on
July 17, 2018
Rating:
Reviewed by GMI
on
July 17, 2018
Rating:
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