January 21, 2020
According to a recent study titled ‘Recycled Glass Market Size By Source (Deposit Program, Drop Off/Buy Back Centers, Curbside Pickups), By Product (Cullet [Clear Cullet, Amber Cullet, Green Cullet], Crushed Glass, Glass Powder), By Application (Glass Bottle & Containers, Flat Glass, Fiber Glass, Highway Beads, Abrasives, Fillers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global recycled glass market is anticipated to exceed US $4.5 billion by the year 2026.
Increasing focus on mitigating global carbon emission and rising consumer awareness may drive recycled glass market outlook. Glass, being manufactured from chemical compounds like soda ash, silica, limestone and other additives, generates various harmful gases such as CO2, nitrogen oxide and sulphur dioxide during its production process.
Mining activities conducted to extract silica, soda ash and limestone add to a similar impact on the surrounding ecosystem and have a harmful effect on the environment. Factors like these have encouraged glass manufacturers to use recycled glass cullet in their production process.
The product can act as a significantly substitute to these chemical compounds and can improve the overall productivity of glass manufacturing. It can help avoid the reliance on raw materials and reduce overall mining costs associated with chemical extraction. Furthermore, use of recycled glass could help tackle the issue of harmful gas emissions and reduce energy costs.
According to the study, the recycled glass market is segmented in terms of product, source and application. By product, recycled glass powder is anticipated to surpass US$230 million by 2026. The product is used as a fine aggregate in concrete that helps improve the overall compressive strength of a structure. Increasing construction activities conducted worldwide may propel the demand for recycled glass powder in the years to come.
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In terms of application, the flat glass segment is expected to surpass US$600 million by the end of 2026. Flat glass is used to manufacture mirrors, window glasses, architectural structures and more. Whereas highway beads are used across various road & highway construction projects to improve the visibility of road markings and ensures improved driver safety. With increasing product significance, the study suggests that highway beads segment would record 7% CAGR over the forecast period.
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