Recycled Glass Market Segmentation:
Product Segment Analysis
Cullet segment is expected to capture recycled glass market share of over 55% by 2035. The increasing use of cullet for recycling glass will primarily drive this segment's expansion in the recycled glass sector. In order to produce minimal amounts of contaminants, this cullet is treated and filtered using sorting technology based on color. The glass recycling process then makes use of this cullet.
According to the UN Climate Technology Center and Network, the melting process, which creates glass, accounts for more than half of the energy consumed in the glass industry. Energy utilization and CO2 emissions are decreased when recycled glass is added to the raw materials. At now, the global average rate of glass recycling is at around 50%, and it is feasible to achieve higher recycling rates, particularly in areas where recovery rates are relatively low.
Application Segment Analysis
In recycled glass market, bottle and container segment is set to hold revenue share of over 40% by the end of 2035. This expansion will be noticed due to the rising expansion of the food and beverages industry globally and the continuously increasing demand for glass bottles and containers.
Based on statistics from 2019, the trillion-dollar club accounts for almost 78% of the USD 86.31 trillion global Gross Domestic Product GDP, which is contributed by the 16 largest nations. The top five main economies by nominal GDP are the United States, China, Japan, Germany, and India; together, they account for 55% of the global GDP.
Our in-depth analysis of the global recycled glass market includes the following segments:
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