The compound annual growth rate of the hottest gla

2022-08-07
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The compound annual growth rate of the glass recycling market in 2026 will reach 7.5%

according to globalmarketinsights, the increasing emphasis on waste management in developing and developed economies may increase the size of the glass recycling market

industry trend

the size of the glass recycling market exceeded US $2.5 billion in 2018. It is estimated that the compound annual growth rate from 2019 to 2026 will exceed 7.5%. Glass recycling is becoming more and more popular around the world because of its amazing benefits. Glass can be completely recovered over and over again without any loss of quality or purity content. The raw materials needed to produce glass include silicon dioxide, soda ash, limestone, broken glass, etc

cullet is a recyclable glass used for glass manufacturing, which can replace about 95% of raw materials in the glass production process and protect a large amount of silica, soda ash and limestone. These raw materials are obtained from the earth's crust through mining. The use of products helps to reduce mining and related transportation costs, and helps to minimize the emission levels of carbon dioxide, sulfur dioxide and nitrogen oxides in the glass manufacturing process. In addition, the introduction of recycled glass in the production process can help glass manufacturers reduce energy costs and furnace maintenance and repair costs. The above factors will trigger product consumption in the next few years

focusing on waste management and sustainable development will have a significant impact

the increase in the number of glass waste is a shocking problem facing the world. Most of the waste is sent to landfills and incinerators, resulting in global warming and climate change. However, the glass waste piled up in the landfill will lead to the emission of greenhouse gases, and the incinerator will release a large number of pollutants into the surrounding environment. Therefore, glass recycling will play a key role in waste management in the next few years because it is efficient and environmentally friendly. Most developed countries are promoting glass recycling by providing grants, plans and funds, which will increase the speed of glass recycling in the forecast period

due to the complexity of the manufacturing process, the glass recycling market may face some problems, which basically revolve around the separation and removal of pollutants in glass waste. Sorting is an important step to realize cost optimization and maintain production process efficiency. In addition, it helps to reduce pollutants such as stones, metal covers, mirrors, ceramics, etc. The wrong waste collection system will lead to the accumulation of more pollutants in the waste stream. The higher the percentage of pollutants, the higher the cost of the removal process, which increases the complexity. Therefore, glass recycling manufacturers must comply with regulatory specifications to reduce complexity and maintain the capital operation of the production process. Another important factor that may have a negative impact on market growth is the lack of investment. Investors may not invest huge amounts of money because of low returns and long payback periods. Many North American and European governments are providing financial support to encourage glass recycling activities

broken glass shows a positive growth trend in the forecast period

the glass recycling market is divided into broken glass, glass powder and coarse broken glass by dropping an appropriate amount of instrument oil (to avoid dropping on the reading plate) on the basis of product type. Due to its wide application in glass production, cullet accounted for most of the market share in 2018. Cullet improves the overall performance of the glass production process and minimizes energy requirements and associated costs. In addition, it also improves the service life of production equipment and reduces the amount of raw materials required. Broken glass is used in construction industry, pavement construction, aggregate replacement in concrete, drainage medium, etc. Broken glass is further divided into transparent broken glass, amber broken glass, green broken glass, etc. Among them, the transparent cullet may grow rapidly from 2019 to 2026

Europe will be the leading region in product consumption in the next few years

Europe accounted for about half of the collection volume in 2018 and will grow steadily in the forecast period. Europe accounts for 57% of the recycled glass market in the United States and 32% in Japan. The main reasons are the improvement of awareness of glass recycling and the improvement of policy support introduced by the government. The EU has launched a circular economy package to promote effective waste management and recycling activities

many European countries are raising the tax rate of landfills. This will be drawn into a cylindrical cup once, which may reduce the disposal of glass waste in landfills and promote market growth before 2026

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