Recycled Glass Market: Key Driving Factors of The Industry Demand

According to a new research report by Global Market Insights. Recycled Glass Market will surpass USD 4.4 billion by 2025 Proliferation of the waste to energy approach has stimulated the glass recycling technique. The use of recycled glass reduces the energy consumption required to melt the raw material during making vitric products. Moreover, over a ton of natural resources can be saved for each ton of product used. For instance, energy costs drop about 2 - 3% for every 10% of recycled cullet use in making glassware and carbon dioxide drop to one ton for every six tons of recycled cullet use.

Rising awareness and various initiatives about sustainable development has spur product market. For instance, in 2017, 'Glass for Europe' association for the flat glass, proposed an initiative to increase the recycling of flat glass which will further enhance the recycling rate.

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Alcohol packaging industry deemed to a profitable quotient for the recycled glass market. It is the largest end-user as well as raw material supplier for the recycled glass market. Rising urbanization along with rising disposable income in developing nation will increase the consumption of alcoholic beverages, resulting in an increase in demand for alcohol packaging market. This will further spur the recycled glass market.

On the other flip, high cost associated with glass recycling will hamper the recycled product market. The recycling process is labor intensive which incurs a heavy investment. Moreover, in many countries the recycling process is done overseas owing to lack of proper recycling facilities which increases the product cost. For instance, the vitric product waste collected in Singapore is sorted and exported overseas for recycling due to no recycling facilities in the country.

According to source type, the market is segmented into curbside collection, drop off/ buy back centers and deposit programs. The curbside collection includes MRF for the segregation of recycled and reuse material. The segment will generate revenue around USD 1.2 billion by 2025.

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Crushed product market will to grow at a compounded annual growth rate of 7.2% over next seven years. In 2010, Waverley Council, an Australian Council, substituted nearly 15 tons of crushed product into road projects, 7.5 ton in concrete and asphalt each. These initiatives by the developing countries will spur product market in next seven years.

Netherland product market will generate revenue nearly USD 970 million in 2025. The practice for recycling vitric products in the country has been carried out for at least 25 years. It is a statutory requirement that each district council is responsible for the collection of vitric products for recycling, in line with Europe directives on waste management. Strict regulations in Europe about recycling will spur the recycled glass market.

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Key players in the Recycled Glass Market include Berry Glass, Ngwenya Glass, Harsco Minerals International, Glass Recycled Surfaces, Strategic Materials, Vetropack Holding Ltd, and Momentum Recycling.

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