The global glass recycling market will be worth around US$ 2.6 billion this year, according to new data by QY Research.
Europe is the biggest glass recycling market at the moment, with US$ 1.6 billion of activity focussed there. By 2025, the worldwide glass recycling market is projected to reach US$ 3.7 billion. This presents a ‘robust’ compound annual growth rate of 6.6% throughout the forecast period 2019-2025.
‘The Asia-Pacific region is also likely to grow with a moderate compound annual growth rate of 4.3 % in terms of revenue in the years to come,’ QY Research observes.
Factors likely to fuel the growth of the glass recycling market in the near future include rapid industrialisation as well as a significant rise in popularity of durable materials. ‘Increasing use of glass recycling in the end-use industries such as food & beverages, alcohol, and construction sectors is further driving the growth of the market,’ the report notes.
However, the contamination of unwanted materials present in the post-consumer glass waste stream stands in the way of true recycling potential.
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