The Business Research Company’s Recycled Glass Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
Rising Demand for Sustainable Packaging Drives Market Growth
The market is witnessing a surge in demand for sustainable packaging, which is expected to fuel its growth. Sustainable packaging, an eco-friendly material used for various packaging needs, is gaining traction due to environmental concerns, regulatory pressures, and consumer preferences. Recycled glass plays a significant role in sustainable packaging by reducing the need for new glass production, thus saving energy, reducing emissions, and minimizing waste.
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Key Market Trends and Forecast
The recycled glass market is expected to continue its strong growth, reaching $4.10 billion by 2028, with a CAGR of 5.9%. This growth will be driven by advancements in production technologies, product diversification, and increasing environmental awareness. Government regulations and policies favoring the industry, along with growing concerns about plastic use and environmental impact, will further boost market growth.
Major Players and Innovation
Major companies in the recycled glass market, such as Compagnie de Saint-Gobain S.A. and Ardagh Group S.A., are focusing on developing innovative products to promote sustainability. For example, refillable glass bottle reuse systems are being introduced to the beverage industry. These systems involve refillable bottles made from glass or PET plastic, which can be reused multiple times before being recycled. This approach significantly reduces carbon emissions and promotes a circular economy model.
Regional Insights
Europe led the recycled glass market in 2023, driven by stringent government regulations and a strong focus on sustainability. Asia-Pacific is expected to be the fastest-growing region, with increasing industrialization and urbanization driving demand for recycled glass.
Market Segmentation
The recycled glass market is segmented based on product, source, and application:
1. Product: Cullet, Crushed Glass, Glass Powder
2. Source: Deposit Program, Drop Off Or Buy Back Centers, Curb Side Pickups
3. Application: Bottle And Container, Flat Glass, Fiberglass, Highway Beds, Abrasives, Fillers, Other Applications
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Recycled Glass Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Recycled Glass Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on recycled glass market size, recycled glass market drivers and trends, recycled glass market major players, competitors' revenues, market positioning, and market growth across geographies. The recycled glass market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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