Recycled Glass Market: Worldwide Opportunities, Driving Forces, Future Potential 2020-2025

Global recycled glass market is primarily attributed to increasing consumer awareness about sustainable practices and favorable government regulations.

WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- According to a recent report by Allied Market Research, the global recycled glass market reached $3.53 billion in 2017 and is expected to reach $5.54 billion by 2025, with a compound annual growth rate (CAGR) of 5.7% from 2020 to 2025. The report provides a comprehensive analysis of the evolving market dynamics, key strategies of leading players, competitive landscapes, and major market trends.

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The growth of the global recycled glass market is primarily attributed to increasing consumer awareness about sustainable practices and favorable government regulations. However, challenges such as complex recycling processes and high recycling costs are impeding market growth. Nonetheless, efforts to promote the use of recycled glass are projected to create lucrative opportunities in the foreseeable future.

The market is segmented based on product type, application, and geography. By product type, it is categorized into cullet, crushed glass, and glass powder, with the cullet segment holding the largest market share in 2017 and expected to exhibit the highest CAGR of 5.9% during the forecast period.

In terms of application, the market is segmented into bottle & container, flat glass, fiberglass, highway beads, and others. While the flat glass segment is projected to witness the highest CAGR of 7.0%, the bottle & container segment dominated the market in 2017, holding a share of one-third.

Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to register the highest CAGR of 6.3% during the forecast period, driven by supportive government regulations promoting recycled glass usage. However, North America led the market in 2017, capturing one-third of the market share, mainly due to the presence of key players in the region.

Major players in the global recycled glass market include Strategic Materials, Reiling Glass Recycling GmbH & Co. KG, Momentum Recycling, Coloured Aggregates Inc., Glass Recycled Surfaces, Vetropack Holding Ltd., Harsco Corporation, Gallo Glass Company, Ngwenya Glass, and G.R.L Glasrecycling.

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