Glass Recycling Market:
The Market Size Will Reach 5.54 Billion Us Dollars In The Next Five Years
According to the report, the glass recycling market is expected to reach US $5.54 billion by 2025, with a CAGR of 5.7% from 2020 to 2025. Consumer awareness of sustainable development and the government's supportive laws and regulations promote the growth of the market.
However, the glass recovery process is complex and high cost, which inhibits the growth of the market. On the contrary, progress in promoting the use of recycled glass has created new opportunities for market growth.
Increasing recycling activities in emerging economies, increasing use of glass bottles in food and beverage applications, and increased consumer spending are some of the factors that may contribute to the growth of the glass bottle Market during the 2020-2027 forecast period. On the other hand, with the popularity of lightweight and high-strength bottles, various market opportunities will be further promoted, which will make the glass bottle market continue to grow in the above forecast period.
The cullet industry performed well
Among the recycled products, the cullet market is the largest in 2017, accounting for more than three fifths of the market share, and its dominant position will remain until 2025. In 2025, the composite annual growth rate of cullet is 5.9%, which is attributed to more use of cullet in glass recycling.
Glass bottle and container revenue will be in the lead
In the application sector, glass bottles and containers accounted for more than one-third of the market share in 2017 and will remain dominant until 2025, due to the increased recycling rate of glass bottles and containers. Glass bottles and containers are the most common recycled materials in the United States. However, the flat glass portion is 7.0% during the forecast period. There are many advantages to using recycled glass to produce flat glass. For example, compared with the energy required to melt raw materials, melting glass requires less energy, thus reducing carbon dioxide emissions and the amount of raw materials required.
The fastest growth of glass recycling in Europe
The entire North American market accounts for nearly one-third of the total market share and is likely to dominate the market by 2025, as major players in the region contribute significantly to glass recycling. However, Europe is expected to be the fastest growing region, with a CAGR of 6.3%, due to the implementation of supportive policies and regulations to promote glass recycling at the institutional, public and professional levels.
Post time: Dec-19-2020