Recycled Glass Market Will Grow at 7.6% CAGR Up to 2024

Global Market Insights, Inc. adds a new Recycled Glass Market research report for the period of 2018-2024 focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

Europe having reigned supreme in recycled glass market in 2017 in terms of product demand is likely to retain its position as one of the strongest regional contenders in the coming years. The regional market is extensively characterized by a plethora of regulatory initiatives with regard to collection and treatment of building glass waste. Not to mention, the private entities across Europe are also contributing immensely toward the expansion of recycled glass demand.

Sweden stands tall in the Europe recycled glass market landscape and is expected to account for a market share of more than USD 6.9 million by 2025. The Sweden government has played a pivotal role in proliferating the industry trend, backed by its zero-waste future mission by 2020. The country has been renowned for importing waste from Norway, Italy, UK, etc. to recover more energy from the waste.

Despite a plethora of growth opportunities, material contamination in the waste recycling process remains a major concern for the industry players. The penetration of these impurities in the process largely impacts the financial benefits of the recycling methodology, ultimately hampering the efficiency, affordability, and quality quotients. 

Nonetheless, the incessant efforts by the recycled glass market players toward designing efficient collection and production strategy in tandem with the increasing consumer awareness toward adopting the recycling technology approach will carve a lucrative roadmap for the recycled glass industry in the coming years. Global Market Insights, Inc. forecasts this industry space to surpass a valuation of USD 4.4 billion by 2025.

As per the U.S. EPA, in 2013, 41.3% of beer and soft drink bottles, 15% of food and other jars, and 34.5% of wine and liquor bottles were recovered for recycling. Out of this, 34% of the overall containers were recycled which led to a huge impact on environment with reference to the abatement of GHG emissions – a figure equivalent to taking 210,000 car units off the road annually.