Development of New Glass Products Using Recycled Glass to Accelerate Market Growth
The awareness regarding environment safety and sustainability is growing in several industrial sectors. In addition, consumers across the world are becoming increasingly aware of the benefits of recycling products, and are inclined toward using eco-friendly products such as recycled glass. In the latter half of the last decade, recycled glass was increasingly being used in an array of applications, including filtration, abrasives, and fiberglass insulation, to develop bottles & containers. The impetus for recycling of glass receives an added boost due to favorable properties of glass. As glass can be melted and recycled multiple times without compromising on its quality, the development of new glass products with recycled glass is on the rise across the world.
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Moreover, availability of cullet, favorable government policies, and consumer awareness are some of the key factors influencing glass recycling in different countries. In addition, economics involved in recycling glass coupled with availability and quality of the cullet also directly impact the growth of the recycled glass market. While the recycling rate in North America and the Asia Pacific lags behind Europe by a significant margin, efforts are being made to increase the recycling rate of glass in these regions. Thus, the global recycled glass market is expected to surpass ~US$ 4.6 Bn mark by the end of 2027.
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Recycled Glass– A Step toward Sustainable Future
Environmental benefits associated with glass recycling provide a solid foundation for the growth of the recycled glass market in the coming years. In addition, advancements in the recycled glass market align with the need for a sustainable future. Stakeholders in the recycled glass market are continually reassessing the techniques used to recycle glass and are also finding new ways to produce recycled glass efficiently. Moreover, multiple engineers are also exploring potential applications of recycled glass across different industries. Glass containers particularly made from recycled glass have become lighter due to which there has been a significant reduction in the carbon footprint as far as transportation of glass is concerned.
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In addition, avoidance on usage of single-use plastic in the development of bottles has opened up opportunities for stakeholders involved in the current recycled glass market. Government policies across the world continue to discourage the use of single-use plastic due to which, recycled glass has emerged as an ideal and environment-friendly alternative. Recycled glass containers are increasingly being used due to the desired functional and physical properties of glass. Furthermore, glass or recycled glass is also the only material used in packaging that has attained the “generally regarded as safe” status from the Food and Drug Association (FDA)– a major factor that is expected to fuel the adoption of recycled glass in the packaging sector. This factors is expected to drive the recycled glass market during the forecast period (2019-2027).
New Tracking Software Likely to Increase Glass Recycling Rate
Amidst growing concerns over environmental safety, several stakeholders in the current recycled glass market are taking significant efforts to increase the glass recycling rate and create awareness among business organizations and consumers. Glass bottle companies are increasingly vying to increase their revenues by streamlining glass recycling processes by leveraging new technologies and software modules.
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