In 2027, the global glass recycling market will reach 5.27 billion US dollars.
With the increasing development of global glass production and processing technology, the glass market faces uneven regional distribution and overcapacity in some regions. The plans from various areas and governments in the world to promote effective waste management and sustainable development drive the growth of the glass recycling market. The global recycled glass market is expected to reach USD 5.27 billion in 2027 from USD 3.63 billion in 2019, with a compound annual growth rate of 4.8%.
Some countries around the world are working to manage waste glass programs. For example, in the United Kingdom, local governments implement a deposit refund program for all beverage containers made of plastic, metal, or glass. The plan was introduced to reduce the amount of garbage that pollutes the ocean and land and pay a small amount of cash to consumers who return cans and bottles. Similar plans have been implemented in 38 countries around the world.
A worrying problem faced by several countries around the world-the increasing amount of glass waste. These wastes enter incinerators and landfills, causing environmental pollution, global warming, and climate change. To reduce the negative impact of glass waste on the environment, glass recycling can play a crucial role in waste management.
Some developed countries are promoting the recycling of glass by introducing programs, funds, and grants. Developing countries are also actively following this trend, and increasing awareness of effective waste management will promote the growth of the recycled glass market.
The introduction of recycled glass in the production process enables glass manufacturers to reduce furnace maintenance and repairs and overall energy costs, which also supplements the market share of recycled glass. In addition, rapid industrialization and the increase in demand for automotive and construction products will further promote industrial expansion during the forecast period.
During the forecast period, Europe accounted for 12.4% of the market share of recyclable glass. As the general public in the region is increasingly aware of recyclable practices, Europe is the leading regional basis for industry growth. The government further supports initiatives to promote the use of recyclable glass.
Several European countries have significantly raised landfill taxes to stop the disposal of glass waste in landfills, which will further promote the growth of the regional industry in 2027. The Asia-Pacific region has a compound annual growth rate of 7.1%; North America has a growth rate of 4.2%.
The prominent recycled glass companies are Strategic Materials Inc, ACE Glass Recycling, Balcones Resources, Gallo Glass Company, Ripple Glass, Pace Glass Inc, Momentum Recycling LLC, CAP Glass, Bradish Glass Inc, and Dlubak Glass Company.
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