Global Glass Recycling Market Will Grow at a CAGR of 5% During 2019-2023 | Technavio
LONDON--(BUSINESS WIRE)--May 28, 2019--
Technavio has announced the release of their research report on the Global Glass Recycling Market for the forecast period 2019-2023. This glass recycling market analysis report segments the market by product (container glass, and construction glass), and geographic region (North America, MEA, APAC, Europe, and South America).
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Technavio has published a new market research report on the global glass recycling market from 2019-2023. (Graphic: Business Wire)
Global glass recycling market size will grow by more than USD 916 million during 2019-2023, at a CAGR of more than 5%. The concept of green buildings is gaining immense popularity across the world and is being increasingly adopted in developing countries for overall environmental sustainability. Green buildings help increase the total asset value of the building in terms of goodwill and minimize its environmental impact. Building engineers and architects are increasingly using glass to construct and design passive or low-energy buildings, which qualify as green buildings. Thus, the growing demand for green buildings will stimulate the need for glasses that are manufactured using recycled glass cullet.
Economic benefits of glass recycling
Glass recycling helps conserve natural resources and landfill space. It is estimated that the replacement of around 10 % of natural raw materials by recycled glass cullet in the glass production process, can reduce energy consumption by approximately 3%. The lower energy consumption, thereby, reduces carbon dioxide emission. Moreover, the glass recycling process has many other economic benefits that include the saving of raw materials, extended furnace life, and other environmental benefits. Such economic benefits will significantly drive the growth of the glass recycling market size during the forecast period.
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“The construction market in Europe is growing significantly, mainly dominated by the residential segment. The construction industry is one of the key end-users of glass, which is significantly increasing the requirement for glass recycling in Europe. Thus, the growth in the construction industry will drive the demand for glass recycling during the forecast period. The recycled glass market in Europe is also expected to be driven by the increasing government initiatives supporting glass recycling in the region,” says an analyst at Technavio.
This glass recycling industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several glass recycling companies including
Some of the key topics covered in the report include:
Five Forces Analysis
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PUB: 05/28/2019 01:17 PM/DISC: 05/28/2019 01:17 PM