The market for recycled glass will surpass US$4.4 billion by 2025; according to a new research report by Global Market Insights, Inc.
On average, the glass bottle has a recycling rate of 50 percent to 80 percent which conserves a significant amount of raw material. The use of recycled glass during the manufacturing of vitric products conserves energy consumption as the cullet melts at a lower temperature than raw materials.
In current years, legislative pressure and improvement in cullet quality have significantly influenced the recycled glass market. For instance, The Producer Responsibility Obligation Regulation in Europe introduced Packaging Recovery Note (PRN) system which made product market more economically attractive. The combination of above mentioned regulation with Climate Change Levy has made the lower energy requirements of using cullet as a raw material in place of virgin materials a key factor in reaching industry targets for reducing energy consumption.
Curbside collection will hold around one-third of the total recycled glass market throughout the forecast span.
Clear cullet is likely to account for around 60 percent of the global recycled glass market in 2025. Clear cullet is manufactured generally from soda and beer bottles, flat glass, food bottles, including pickle jars, sauce bottles, honey, cider and others.
The alcohol packaging industry play a vital role in the recycled product market as it acts as main raw material supplier and end-user industry of the product market.
Sweden’s recycled glass market is likely to generate the revenue around US$6.9 million in 2025 as the government has provided subsidies to increase the recycling rate of vitric products. According to Avfall Sverige, Sweden is aiming for zero waste future by the end of 2020. The country imports waste from the UK, Norway, Italy, etc. and recovers more energy from each ton of the product than other countries.
Major players in the recycled glass industry which holds the major market chunk include Ardagh group, Momentum Recycling, Strategic Materials, Harsco Minerals International and Heritage Glass.