to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on the critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Recycled Glass Market.
The years considered in this report to estimate the market size of the market are:
• History Year: 2016-2019
• Forecast Year: 2021 to 2026
The key players covered in this report are –
· Strategic Material (US)
· Berryman Glass Recycling (UK)
· Vetropack Holding (Switzerland)
· Vitro Minerals (US)
· Glass Recycled Surfaces (US)
· Dlubak Glass Company (US)
· Momentum Recycling (US)
· Harsco Minerals International (US)
· Coloured Aggregates (Canada)
· Consol Glass (Pty) Ltd (South Africa)
The Recycled Glass market is projected to grow from USD 3.7 billion in 2020 to USD 5.0 billion by 2026 at a CAGR of over 5.2% during the forecast period. Rapid industrialization and urbanization have led to large landfills of waste, which has augmented the need for recycled products, thus boosting the demand for recycled glass products. Moreover, favorable government initiatives and increasing awareness campaigns for cleanliness further bolster the market growth. In addition, technological advancements encouraging the usage of recycled glass in automotive and construction will offer future growth opportunities to the market players.
Based on product, the global recycled glass market has been classified into cullet, crushed glass, and glass powder. Under these, the cullet segment held the largest market share in 2020 and is likely to grow at a considered CAGR during the forecast period. Cullet reduces the amount of raw material used, exhibits low melting power requirement, and further extends the life of the furnace to a minimum of 30%, thereby bolstering the segment growth.
By region, the European market held a significant market share in 2020 and is projected to grow at a healthy CAGR in the coming years. Europe has high awareness regarding landfills well as is promoting the reuse of glass with supportive government policies. Moreover, the European Union introduced the circular economy package to further enhance waste management and recycling activities, thus proliferating regional market growth.
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