Recycled Glass Market is Projected to Reach USD 1860.06 million in 2028
Stratview Research
Updated 4 min read
Stratview Research
Recycled Glass Market is expected to reach USD 1860.06 million in 2028, growing at a CAGR of 6.6% during 2022- 2028, reports Stratview Research.
Raipur, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Recycled Glass Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Recycled Glass Market is driven by a host of factors, some of which are noted below:
Favourable government initiatives and increasing awareness campaigns for cleanliness,
Technological advancements encouraging the usage of recycled glass in automotive and construction,
Increasing environmental concerns to address climate emergencies.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Recycled Glass Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Product Type,
By End-use Type,
By Region.
Recycled Glass Market Insights
Market Trends by Product Type
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 2021 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.
Market Trends by End-use Type
Based on end-use, the global recycled glass market has been classified into glass bottle and containers, flat Glass, fiber Glass, highway beads, abrasives, fillers. Under these, the glass bottle and containers segment held the major market share in 2021. Increasing use of recycled glass for manufacturing bottles and containers is the prime factor driving the growth of the segment. Flat glass segment is expected to witness the fastest growth.
Which region offers the best opportunity and growth?
By region, the European market held a significant market share in 2021 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.
COVID-19 Impact on the Recycled Glass Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
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