Recycled Glass Market:
Several trends such as rise in landfills activities and emission of greenhouse gas during production of the glass led to increase in trend for recycling of glass. The eco-friendly way to reuse the glass through recycling process can be another factor influencing growth of this market in near future. Also, rapid industrialization of the glass leads to landfills of waste. However, the government initiative to reduce production of the glass is another factor augmenting growth of the global market for recycled glass in coming years.
Transparency Market Research (TMR) predicted that the global recycled glass market likely to register significant growth during the course of forecast period from 2018 to 2026.
The global market for recycled glass products are glass powder, cullet and crushed glass. Among these product type, the cullet glass holds major share in the global glass recycled market. However, crushed glass type likely to gain healthy growth based on its application in water filtration, construction and majorly used in asphalt.
New Belgium brewing is the largest source of the emission of greenhouse gas it’s not the ingredient which is utilized, but it’s the huge pile of glass which is directly affecting the environment. This forced the company to think about the recycling process to get the containers for the liquor and thereby reducing the growth in the emission of greenhouse gas during production of glass.
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With the aim to reduce the greenhouse emission which further adds to environment and harmful effect compels several other companies such as Diageo, PepsiCo and Belgium brewing who came together to started the initiative to reduce the landfills of waste. These are some of the key development likely to push growth and need for recycled glass across the globe.
The manufacturers of the global recycled glass are majorly focus on Europe due to stringent regulation taken by the government for processing of recycled glass, this can be another factor positively supporting growth of this market. Furthermore, North America is likely to witness promising growth in near future.