LONDON--(BUSINESS WIRE)--The glass recycling market size is poised to grow by USD 916.33 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Glass recycling helps conserve natural resources and landfill space. It is estimated that the replacement of around 10% of natural raw materials by recycled glass cullet in the glass production process can reduce energy consumption by approximately 3%. The lower energy consumption, thereby, reduces carbon dioxide emissions. Moreover, the glass recycling process has many other economic benefits that include reduced raw materials, extended furnace life, and other environmental benefits. Such economic benefits will significantly drive the growth of the glass recycling market size during the forecast period.
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As per Technavio, the rising demand for green buildings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Glass Recycling Market: Rising Demand for Green Buildings
The concept of green buildings is gaining immense popularity across the world and is being adopted in developing countries for overall environmental sustainability. Green buildings help increase the total asset value of the building in terms of goodwill and minimize its environmental impact. Building engineers and architects are increasingly using glass to construct and design passive or low-energy buildings, which qualify as green buildings. Thus, the growing demand for green buildings will stimulate the need for glass that is manufactured using recycled glass cullet.
“Other factors such as the increased use of glass cullet in North American glass container industry, and emergence of new methods to increase the rate of glass recycling will have a significant impact on the growth of the glass recycling market value during the forecast period,” says a senior analyst at Technavio.
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Glass Recycling Market: Segmentation Analysis
This market research report segments the glass recycling market by product (container glass, and construction glass), and geographic region (North America, MEA, APAC, Europe, and South America).
The European region led the market in 2018, followed by APAC, North America, MEA, and South America respectively. The growth of the glass recycling market share in Europe can be attributed to factors such as the growth of the construction industry and the presence of favorable government initiatives supporting glass recycling in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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