Report : North America Recycled Glass Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Glass Cullet, Glass Fines, and Glass Powder) and Application (Bottle and Container, Flat Glass, Fiber Glass, Highway Beads, Fillers, and Others)
At 5.8% CAGR, the North America Recycled Glass Market is speculated to be worth US$ 872.76 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America recycled glass market was valued at US$ 623.48 million in 2021 and is expected to reach US$ 872.76 million by 2028, registering an annual growth rate of 5.8% from 2021 to 2028. Rising demand from bottles and containers sector rising acceptance of fiberglass insulation in many end-use industries are the critical drivers attributed to the market expansion.
Recycling glass contributes to a closed loop system, reducing waste, pollution, and carbon emissions. Manufacturing that is eco-friendly When recycled glass is used in the production of products such as fiberglass insulation, fewer natural resources such as sand, limestone, and soda ash must be extracted from the environment. Because fiberglass insulation is one of the most cost-effective materials, it is frequently utilized in the roofs of homes and businesses. Because the material is made up of 70% recycled glass, it is eco-friendly. It may be erected quickly if the ceiling is open. It's also fire- and insect-resistant. It has a range of uses and may be put in both homes and offices. The sound insulating properties of this wool are exceptional. Heat transfer is also limited. Glass wool for sound insulation comes in a variety of shapes and sizes. It's also suitable for use in aircraft.
It's also simple to install and maintain, and it's commonly seen in swimming pools. In comparison to other swimming pools, it requires fewer chemicals. There are a number of other advantages to using this material to construct swimming pools. Glass wool has a long history and a number of advantages that make it useful in a variety of applications. It has a higher strength-to-weight ratio and is more long-lasting. It is also mould and mildew resistant, as well as able to survive natural changes.
Fiberglass wool insulation is used in homes to keep them cool in the summer and warm in the winter. At a temperature of 1550 degrees Celsius, basic materials such as sand and glass are melted to create fiberglass insulation wool. It has decent heating and cooling capabilities. This insulation material isn't flammable. All these factors are creating lucrative opportunities for fiberglass insulation.
On the contrary, huge investment in recycling process hurdles the growth of North America recycled glass market.
Based on product type, the recycled glass market is segmented into glass cullet, glass fines, and glass powder. The glass cullet segment held 46.5% market share in 2021, amassing US$ 289.87 million. It is projected to garner US$ 418.46 million by 2028 to expand at 6.3% CAGR during 2021–2028.
By Application, the North America recycled glass market is fragmented into bottle and container, flat glass, fiber glass, highway beads, fillers, and others. With 47.2% share of the domain, the bottle and container segment dominated the market in 2021. It accrued US$ 294.08 million in 2021 and is estimated to generate US$ 413.94 million by 2028 to grow at a CAGR of 5.9% over the forecast period.
Our regional analysis states that US captured 65.7% market share in 2021. It was assessed at US$ 409.44 million in 2021 and is likely to hit US$ 573.31 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.
Key players dominating the North America recycled glass market are Ardagh Group S.A.; Bradish Glass, Inc.; Coloured Aggregates Inc.; Dlubak Glass Company; Gallo Glass Company; Momentum Recycling, LLC; O-I Glass, Inc.; and Strategic Materials, Inc. Few latest key developments in North America recycled glass market are:
- In Jan 2021, Strategic Materials Inc triples crushed glass abrasives production with new facility in Houston to capture market demand.
- In March 2021, Strategic materials Inc. launches eco-friendly recycled glass filtration product