Press Release
Press Release
According to a new report by EMR titled, ‘Global Recycled Glass Market Report and Forecast 2024-2032’, the market reached a value of more than USD 4.74 billion in 2023. The market is estimated to expand at a CAGR of 5.70% between 2024 and 2032 to reach a value of USD 7.80 billion by 2032.
Glass recycling involves breaking and crushing waste and unusable glass products, followed by cleaning and preparation for melting in a furnace. The melted glass is then mixed with other materials to create new bottles and jars. Remarkably, this cycle can be repeated indefinitely without any loss of quality. The increasing focus on sustainability is expected to drive the global recycled glass market.
The rapid industrialization has led to significant landfill waste, driving demand for recycled products. Government initiatives, such as Singapore's Sustainable Blueprint, are further boosting the market for recycled glass. However, challenges like complex manufacturing processes and contamination may hinder growth. Yet, advancements, especially in industries like automotive, present promising opportunities for future market expansion.
The increasing awareness of environmental concerns and the pressing need for effective waste management strategies have encouraged several countries to initiate glass recycling programs. These programs are aimed at addressing the challenges posed by mounting waste levels while also mitigating the environmental impact of traditional disposal methods. Recycled glass plays a crucial role in reducing emissions and conserving raw materials, making it an attractive solution for sustainable development.
Moreover, the expanding market for recycled glass in developing regions highlights the growing recognition of its environmental and economic benefits. Market players are actively expanding their operations in these regions to capitalize on the rising demand for sustainable materials.
Furthermore, the initiation of programs for the deposit of waste glass by governments underscores a proactive approach to waste management. By incentivizing the collection and recycling of glass waste, these programs not only contribute to environmental preservation but also stimulate market growth by ensuring a consistent supply of recyclable materials.
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The major players in the global recycled glass market are Strategic Materials, Inc, Vetropack Holding Ltd, Momentum Recycling, LLC, Dlubak Glass Company, and O-I Glass, Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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