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
- Lightweight glass containers are gaining increased appeal in transportation sector. The growth in e-commerce, and growing demand for cost-efficiency in relation to fuel will likely create more opportunities for growth in near future.
- The legal barriers prohibiting the use of single-use plastics will likely remain major highlight for growth of recycled glass products in near future. The recycled glass presents a lucrative opportunity in food and beverage sector, and in cosmetics.
- Furthermore, the value-addition of glass as a unique packaging, and marketing material will also lead to further adoption in these sectors. The eco-friendliness of glass materials, and their generally regarded as safe' status in the FDA guidelines also make it a promising opportunity for players in the recycled glass market.
- Widespread adoption in North America will remain a major driver of growth in near future. North America region is home to 44 glass manufacturing plants, along with 63 glass processing facilities. The region is also home to increased demand for recycled glass, which is expected to increase in near future, thanks to reduced use of energy in recycling.
- The growing demand for hygienic, single-use, and sterilized packaging solutions are expected to drive growth of recycled glass in the pharmaceutical sectors in the US. The rising demand for bans on single-use plastics, and increased need in healthcare for hygienic solutions to treat chronic illnesses will drive more demand for recycled glass products in near future.
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
- Glass Cullet
- Glass Fines
- Bottles & Containers
- Fiberglass Insulation
- Others (including Concrete, Asphalt, and Filler Applications)
- North America
- Asia Pacific
- Rest of World
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