NEW YORK, June 2, 2022 (GLOBE NEWSWIRE) — The Insight Partners has published a report on “Recycled Glass Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Product Type, Application and Geography” market The latest research report from .The expected growth of the market over the forecast period is attributed to the increasing adoption of fiberglass insulation in many end-use industries.Recycled Glass Market Forecast To 2028 By Product Type (Cullet, Glass Powder, and Glass Powder), By Application (Bottles & Containers, Flat Glass, Fiberglass, Highway Beads, Fillers, etc.), And By Geography.
In 2020, Europe accounted for the largest market share.Factors contributing to the market growth in this region are the growing demand for bottles and containers, and fiberglass for insulation in the food and beverage, pharmaceutical, and residential industries.Europe is a hub for several industries including food and beverages, pharmaceuticals and automotive.Rising investments in the industrial sector and rapid urbanization are creating demand for glass fibers required for insulation, which is propelling the recycled glass market in the region.
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Colored Aggregates Company; Gallo Glass Company; Strategic Materials Company; Vitro Bag; OI Glass Company; Drupak Glass Company; GRL, Glass Recycling; Alda Group SA; Bradish Glass, Inc. and Momentum Recycling, LLC are Several major players in the market.Players in the recycled glass market are constantly focusing on strategies such as investing in R&D activities and new product launches.
Bottles and containers are 100% recyclable without any loss of purity and quality.Many bottle and container manufacturers use recycled glass as consumer preference shifts to eco-friendly packaging.Initiatives by governments to reduce air and water pollution from industry have created lucrative opportunities to recycle products.Bottles and containers are made entirely of recycled glass.
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Fiberglass is used in the manufacture of different products in several industries, such as automobiles.Fiberglass is an insulating material mainly composed of glass.Recycled glass is used in the processing of finished fiberglass.The primary function of glass fibers as an insulator is to trap air and slow heat transfer.It is available in blanket form and with loose fill of varying thicknesses to determine heat flow resistance.Fiberglass insulation is one of the most affordable and easy to install insulation materials.The properties of glass fibers, such as flexibility, flame retardancy, and energy efficiency, lead to the use of glass fibers as insulators in residential and other industrial sectors.In the residential sector, fiberglass is used for noise reduction purposes.
Fiberglass has natural sound insulating properties and can significantly reduce the noise entering the house.It’s also applied to walls, ceilings, and even pipes as sound insulation to help reduce sound transmission.Hence, the increasing demand for glass fibers in the industrial and commercial sectors is driving the growth of the recycled glass market.
On the basis of type, the recycled glass market is segmented into cullet, glass powder, and glass powder.The cullet segment will hold the largest share in the recycled glass market in 2021.Recycled cullet is used as a substitute for minerals in glass packaging manufacturing, thereby helping to reduce the reliability of primary raw materials.Crushed glass is used on a large scale to manufacture bottles and containers, flat glass and fiberglass for various industrial uses.Broken glass is used in a variety of industries, including food and beverage, pharmaceuticals, and construction.
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On the basis of application, the recyclable glass market is segmented into bottles and containers, flat glass, fiberglass, highway beads, fillers, and others.The bottle and container segment will hold the largest market share in 2021.Compared to other types of glass such as windows, ovenware, pyrex, crystal, etc., glass containers for food and beverages are 100% recyclable because the glass is manufactured through a different process.
Therefore, recycled glass is introduced into the glass container manufacturing process because they do not cause production problems and defective containers like other types of glass.Bottles and containers are used for packaging purposes in many industries.Increased industrialization has boosted the consumption of bottles and containers in end-use industries such as food and beverage and pharmaceuticals.This has led to an increase in the global demand for recycled glass.
The demand for eco-friendly packaging in both developed and developing countries drives the bottle and container market.Glass bottles are often used to package liquids such as soda, juice, beer, and wine.The recycling of these bottles is a quick process as the bottles can be recycled and kept on store shelves within 30 days.Therefore, the fast recycling packaging process is the reason for the higher preference for bottles and containers in the packaging industry.The main factor creating the demand for bottles and containers is the growing demand for eco-friendly packaging in the industrial and residential sectors.
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Recycled glass is mainly used in the manufacture of bottles and containers needed in the commercial and residential sectors.The consumption of bottles and containers is directly affected by global population growth and urbanization.The growing use of recycled glass in bottles and containers, flat glass, fiberglass, road beads, fillers, etc., is driving the growth of the recycled glass market.This can be attributed to the growing demand for end-use industries such as packaging, construction, coatings, etc.The packaging industry relies primarily on bottles and containers for bulk packaging to maintain product shelf life and quality.The pharmaceutical and food and beverage packaging industries are major users of bottles and containers.These factors drive the demand for bottles and containers, which in turn drives the recycled glass market.
Europe will hold the largest share of the global recycled glass market in 2021.Germany, France and the UK are the main producers of recycled glass in the region.The recycled glass production industry is one of the fastest growing in Germany.The growing industrialization and modernization of the region, coupled with the increasing government initiatives to dispose of glass waste, has greatly boosted the consumption of recycled glass.
The crushed glass segment holds the largest market share.Broken glass is used to make glass fibers in bottles and containers, flat glass, packaging, construction and other industries.The cost of cullet is lower compared to other types of recycled glass.
The bottle and container segment will hold the largest market share in 2021.Recycled glass is already used to a large extent for the treatment of bottles and containers.Bottles and containers made from recycled glass have seen tremendous growth over the past few years due to its high utilization in the packaging industry and growing demand for eco-friendly packaging.
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The fiberglass segment is the fastest growing segment in the global recycled glass market during the forecast period.Fiberglass is used as an insulator in manufactured components in the automotive and other industries.Fiberglass is one of the best choices for insulation purposes.Recycled glass is used in the processing of glass fibers.
The COVID-19 pandemic has caused significant economic damage worldwide.Additionally, the pandemic has caused various industries to temporarily suspend operations.As a result, demand for recycled glass declined in 2020.
Various economies have begun to resume operations.In addition, the demand for recycled glass in different applications has started to increase, supported by the recovery of various industrial activities.Growing demand for recycled glass and substantial investments by established manufacturers to increase production capacity are driving the growth of the recycled glass market.
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