Recycled Glass Market Share, Size and Growth Analysis By 2029

The recycled glass market is projected to expand from US$ 3,435.81 million in 2022 to US$ 4,571.62 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028.

Globally, glass recycling has become a prevalent practice, with many nations adopting it as a standard. The glass packaging sector favors the use of recycled glass due to its lower energy requirements during processing and its cost-effectiveness compared to virgin glass. The manufacturing process of recycled glass generates minimal waste, allowing for the same glass to be reused multiple times. Utilizing recycled glass significantly reduces the carbon footprint associated with glass packaging. For example, incorporating just 10% of recycled glass, or cullet, into production can lead to an approximate 5% decrease in carbon emissions and a 3% energy savings. Innovations aimed at enhancing the efficiency of glass recycling are expected to create promising opportunities for recycled glass in the near future.

In the construction sector, recycled glass finds applications in various products such as concrete, asphalt substrates, tiles, masonry blocks, flooring, and decorative elements. The growth of the recycled glass market is primarily driven by the rising demand for sustainable packaging solutions and increasing per capita income in emerging economies. However, the COVID-19 pandemic has negatively impacted the demand for recycled glass due to economic slowdowns worldwide. Despite this, the anticipated growth in industries such as food and beverages, pharmaceuticals, construction, and paints and coatings is expected to provide significant opportunities for the recycled glass market during the forecast period. On the downside, fluctuations in the prices of glass cullet and other related products may hinder market growth in the coming years.

The recycled glass market is categorized by product type into glass cullet, glass fines, and glass powder. Among these, the glass cullet segment dominated the market in 2021. Glass cullet is primarily utilized in the production of bottles and containers, flat glass manufacturing, and highway beads. Often referred to as furnace-ready recycled glass, cullet is highly sought after in the packaging industry.

In 2020, Europe emerged as the leading region in terms of revenue share in the recycled glass market. The significant growth of the recycled glass market in Europe can be attributed to the robust demand from the food and beverages, pharmaceuticals, construction, and paints and coatings sectors. Countries like Germany, France, the UK, and Italy, with their strong pharmaceutical and food and beverage industries, contribute to the high demand for recycled glass in packaging applications. The modernization and increased purchasing power in developed economies have led to a surge in the consumption of packaged goods. Additionally, the expanding construction industry in Europe further fuels the demand for recycled glass, enhancing market growth.

Key players in the recycled glass market include Coloured Aggregates Inc., Gallo Glass Company, Strategic Materials, Inc., Vetropack, O-I Glass, Inc., Dlubak Glass Company, G.R.L, Glasrecycling, Ardagh Group S.A., Bradish Glass, Inc., and Momentum Recycling, LLC. These companies are actively pursuing strategies such as investing in research and development and launching new products. They are particularly focused on creating high-quality and innovative offerings to meet customer demands.

The overall size of the recycled glass market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the recycled glass sector.