GLOBAL GLASS RECYCLING MARKET (2024 - 2030)

The Global Glass Recycling Market was valued at USD 1.31 billion in 2023 and is projected to reach a market size of USD 2.26 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 8.10%. 

Glass recycling is the process of taking waste glass and transforming it into a product by using forms of waste glass, like crushed glass, glass cullet, or glass powder. Melted down to create different products in various industries. The market for glass recycling has gained popularity due to its impact on the environment as it helps reduce gas emissions and promotes energy conservation while improving overall air and water quality. The demand for recycled glass products such, as jars, glass bottles, containers, abrasives, and insulation items is expected to grow in the Glass Recycling Market for purposes.

Key Market Insights:

The Europe Glass Container Federation (FEVE) reports that the recycling rate, for glass packaging stands at an average of 73%. In the Asia Pacific region, there is a share due to increased consumer awareness, about the importance of growth.

Glass can be recycled completely without any loss, in its quality and purity. The process of glass recycling operates in a closed loop system, which means there is no waste or byproducts generated.

For every ton of recycled glass, we save 1,300 pounds of sand 410 pounds of soda ash 380 pounds of limestone 160 pounds of feldspar, and more, than a tonne of resources.

Every year the container and fiberglass industries buy a total of 3.35 million tons of recycled glass. This glass is then melted down. Reused to make containers and fiberglass products.

18% of beverages are enjoyed in establishments such, as bars, restaurants, or hotels and glass containers account for 80% of this mixture.

Glass Recycling Market Drivers:

The economic advantages play a role, in driving the growth of the Glass Recycling Market.

Since glass decomposition can take up, to a million years numerous industries prioritize recycling glass to create products thereby reducing gas emissions. Glass recycling has become increasingly popular, in the market due to its ability to maintain quality, purity, and other important properties. This does not benefit companies economically. By saving materials and extending the lifespan of furnaces glass recycling helps reduce carbon emissions. In fact, replacing 12% of materials with recycled glass can lead to a 4% decrease in energy consumption. Additionally, this contributes to benefits. Further drives the demand, for glass recycling.

Moreover, there is a growing demand, for packaging in the manufacturing of bottles and containers for the pharmaceutical, food, and beverage industries. This trend has significantly contributed to the growth of the Glass Recycling Market. Additionally, the use of Fiber Glass insulation material has become a driving force behind this market. This type of insulation effectively traps air. Reduces heat transfer. Furthermore, fiber glass is known for its fireproofing properties, flexibility, and energy efficiency which makes it highly suitable for both industrial applications. These factors play a role, in propelling the growth of the Glass Recycling Market.

Glass Recycling Market Restraints and Challenges:

The Glass Recycling Market encounters challenges due, to the expenses associated with managing its supply chain. The supply chain, for glass recycling involves middlemen resulting in a process.

The Glass Recycling Market is also facing a challenge, in sourcing waste glass from corporations and transforming it into a final product through a time-consuming and intricate operational process. The production of glass is done on a scale due, to the relatively low cost of recycled glass. However, the labor-intensive task of sorting and eliminating impurities from waste glass poses some limitations. As a result, these factors hinder the growth of the Glass Recycling Market.

Glass Recycling Market Opportunities:

The market, for Glass Recycling Opportunities is experiencing a rise in demand due to the increasing need for products. This growth is further fueled by the growing initiative of collecting glass in response to industrialization. As a result, various industries such as food and beverages, alcohol, and construction are benefiting from the opportunities created by the Glass Recycling Market. The concerns surrounding hazards also play a role in driving these opportunities as glass waste proves to be environmentally sustainable, for different sectors. Additionally, the industry’s expansion contributes to the growth of the Glass Recycling Market. Further enhances its development by creating new prospects.

GLOBAL GLASS RECYCLING  MARKET REPORT COVERAGE:

Glass Recycling Market Segmentation:

Market Segmentation: By Product:

• Crushed Glass
• Glass Powder

The Glass Recycling Market is segmented based on the Product. The highest demand is seen for Glass Cullet. Additionally, as more industries are utilizing waste glass materials there is an increasing need, for waste glass production, in the Glass Recycling Market. As a result, the segments of Crushed Glass and Glass Powder are expected to experience continued growth, in the Glass Recycling Market. Additionally, the demand, for this market has risen because glass maintains its properties at temperatures and produces high-quality products. This has led to an expansion of the Glass Recycling Market.

Market Segmentation: By End-Use:

• Residential
• Commercial
• Industrial

The Glass Recycling Market is experiencing demand, from both residential sectors, driven by factors such as population growth and urbanization. Industries involved in Glass Recycling have seen a boost in demand for glass in pharmaceuticals for packaging medicines and in the food and beverage sector. The packaging industry also benefits from using glass for bottles and containers. This increased demand extends to the sector for automobile industries relying on recycled glass. As a result, the Glass Recycling Market is expected to experience growth in the segment.

Market Segmentation: By Application:

• Bottles and Containers
• Flat Glass
• Fiber Glass
• Highway Beads
• Others

Glass Bottles and Containers are, in demand, in the Glass Recycling Market, which drives its growth. Due, to the increasing demand the packaging industry can rely on glass materials for Bottles and Containers as they have a shelf life and help maintain product quality. These factors play a role in driving the growth of the Glass Recycling Market for Bottle and Container segments.

The Glass Recycling Market is expected to witness growth in areas such as Fiber Glass, Flat Glass, Highway Beads, and Others. Many industries now heavily depend on recycled glass for their packaging needs. Sectors like pharmaceuticals, food and beverages, cosmetics, and residential sectors are contributors to the growing demand for Glass Recycling Market, in these segments.

Market Segmentation: Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

The glass recycling market, in Europe is currently leading with a market share. The government’s efforts to promote eco packaging in the sector have contributed to the increased demand for glass recycling in Europe. Additionally, there has been a rise in consumer awareness about using recycled glass, which has further fueled the demand for glass recycling in Europe.

In the Asia Pacific region, there is also expected to be growth in the demand for glass recycling. This can be attributed to the expansion of automobile industries and pharmaceutical companies which have played a role, in driving the development of the glass recycling market in this region.

During the forecasted period there is expected to be an increase, in demand for glass recycling in North America, the Middle East & Africa, and Latin America. The manufacturing sector, in North America plays a role in driving this growth. However, it is anticipated that the Middle East and Latin America might experience growth, in the Glass Recycling Market.

COVID-19 Impact Analysis on the Global Glass Recycling Market:

The global economy suffered setbacks due, to the COVID-19 pandemic. Additionally, the pandemic caused shutdowns in industries resulting in a decrease in the demand for recycled glass during 2020.

However, economies around the world have begun to recover and resume their operations. Consequently, there has been an increase in demand for recycled glass across sectors as industrial activities bounce back. This growth is further fueled by investments, from manufacturers aiming to expand their production capacity.

Latest Trends/ Developments:

Glass items that are thrown away typically end up in landfills where they can take millions of years to break down. This, along with the increasing use of glass in manufacturing products is one of the reasons why there is a growing demand for glass recycling worldwide. The great thing about glass is that it can be recycled completely without any impact on its quality, purity, or other properties. As a result recycled glass is widely being used as a substitute for glass, in the production of packaging materials that are commonly used in the food and beverage (F&B) industry. Moreover, the increasing demand, for to eat (RTE) food products due to lifestyles and rising incomes is driving the market growth. Additionally, governments in countries are taking initiatives to encourage citizens, manufacturers, and communities to contribute towards a safer environment. To achieve this they are implementing laws that offer consumers a refund, for returning glass containers. This not only helps reduce the amount of waste in landfills but also enhances the quality of glass collected for recycling thereby positively impacting the market.

Key Players:

• Bywaters
• Bottleman Recycling Services Ltd.
• Biffa Plc.
• Glass Recycling Ltd.
• Prism Recycling LLC
• Stericycle Inc.
• FCC Environment (UK) Ltd.
• Glass Recycling (UK) Ltd.
• TerraCycle Inc.
• Vitro Minerals Inc.

In September 2022 the Bihar Government made the decision to repurpose liquor bottles by using them to create bangles. As a result, they have partnered with a bangle manufacturing unit located in Uttar Pradesh to provide training, for women on how to craft these bangles from the alcohol bottles.

In July 2022 Covanta and Miller Environmental joined forces to bring about a transformation, in the market and enhance Covanta's position as a leading provider of services. The companies have recently announced their collaboration focusing on a range of waste management services such, as transportation and sustainable waste treatment catering to companies of all sizes in need of eco waste solutions.