Recycled
Glass Market: Introduction
The global recycled glass market was valued at ~US$
2.6 Bn in 2018 and is
anticipated to expand at a CAGR of ~7% during the
forecast period. Glass cullet can be used in place of silica, limestone, soda
ash, and other ingredients to manufacture new glass bottles or fiberglass. When
glass is recycled, it is cleaned, sterilized, dried, sorted by color, and
reduced to sizes that range from pebbles to sand and even powder. Glass fines
are used in asphalt, construction and road aggregates, concrete aggregate, and
insulation batts as well as in sand/abrasive grit blasting, sports
turf/drainage, brickmaking, and water filtration. Glass fines are used as
abrasives and several recycling companies use lower-quality glass as roadbed or
aggregate.
Key Drivers of Recycled Glass
Market
Recycled
glass is employed in a variety of applications. Demand for glass cullet is
significantly high in the fiberglass insulation industry and it is used for
residential, commercial, and industrial fiberglass applications. According to
the North American Insulation Manufacturers Association (NAIMA), which is the
trade association for manufacturers of fiberglass and rock and slag wool
(mineral wool) insulation based in North America, fiberglass insulation
manufacturers are the second-highest consumers of mixed bottle cullet in the
U.S., next only to glass container manufacturers. Fiberglass is utilized in
diverse applications such as building insulation, pipe insulation, aerospace,
appliances, and automotive.
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Manufacturers
of fiberglass are focused on increasing the content of recycled glass in their
products. This would not only decrease the amount of community landfill waste,
but would also lower the energy use during the production of insulation, as raw
materials such as sand require higher amount of energy.
The Glass
Recycling Coalition (GRC) and North American Insulation Manufacturers
Association (NAIMA) are supporting the glass recycling industry as well as the
entire glass recycling supply chain for fiberglass insulation. The factors
mentioned above indicate that rise in the demand for fiberglass insulation in
North America boosts the demand for recycled glass in the region.
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Bottles & Containers to Offer
Lucrative Opportunities
Among
applications, bottles & containers was the most rapidly expanding segment
of the global recycled glass market in 2018. Recycled glass is primarily used
in bottles and containers. Demand for recycled glass in the glass container
industry is significant, owing to high demand by companies producing glass
bottles for beverages such as wine, beer, and even water. Recycled glass
is also used in the manufacture of abrasive grades of glass. Abrasive grades of
recycled glass are used in all major blasting industries, such as shipyards
(steel/aluminum), tanks/pipelines, concrete restoration (pre-cast concrete),
wood/log homes, auto-restoration, slurry/vapor blasting, and dustless and wet
blasting.
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Europe a Key Recycled Glass Market
Among
regions, Europe accounted for a prominent share of the global recycled glass
market in 2018. The region is expected to remain
a highly lucrative market for recycled glass during the forecast period, owing
to growth of the glass packaging industry in Europe. The U.S. accounted for the
maximum share of the recycled glass market in North America in 2018.
The market in the country is expected to expand at a rapid pace during the
forecast period, owing to presence of major manufacturers of recycled glass,
such as Strategic Materials, in the U.S. These players are engaged in
distribution, sale, and research and development of recycled glass in North
America. The U.S. Government largely focuses on strengthening its core base in
renewable energy systems in order to restore its depleting sources of fossil
fuel. Asia Pacific was the most rapidly expanding market for recycled glass in 2018,
owing to presence of some of the most rapidly expanding economies in the
region, such as China, India, and South Korea, and rising demand for fiberglass
insulation in the building & construction industry in Asia Pacific
Major Players in Recycled Glass
Market
The global
recycled glass market is consolidated. The top five players i.e. Strategic
Materials, Inc., Pace Glass, Dlubak Glass Company, CAP Glass, and Gallo Glass
Company cumulatively accounted for more than 70% share of
the global market in 2018. In 2018,
Strategic Materials, Inc. produced about three million tons of recycled glass.
The large production by the company can be attributed to its continuous focus
on innovations, implementation of growth strategies, and expansion of business
through strategic capital allocation and extensive research and development
activities. The company has nearly 50 plants across North America.
Manufacturers distribute their products either directly to consumers, through
bulk or wholesale ordering or distribution agreements.
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Other
companies include a large number of local manufacturers in India and China,
which produce recycled glass in smaller volumes and serve domestic markets.
These are part of the unorganized sector in these countries.
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