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.
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.
Browse Complete Report Summary@
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.
About Global Market Insights:
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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Contact Person:
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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
Recycled Glass Market: Key Driving Factors of The Industry Demand
Reviewed by GMI
on
October 04, 2019
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