According to the latest report by IMARC Group, titled “Textile Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global textile recycling market reached a value of US$ 5.02 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.86 Billion by 2027, exhibiting at a CAGR of 2.6% during 2022-2027.
Textile recycling represents the methods of reprocessing and reusing old clothing, scraps, or fibrous waste materials recovered from discarded carpets, clothes, furniture, footwear, tires, towels, sheets, etc. In terms of the product type, they can be segmented into several types, such as cotton recycling, wool recycling, polyester and polyester fiber recycling, nylon recycling, etc.
These textile recycling procedures offer numerous environmental and economic benefits, including minimizing land and water pollution, reducing dependence on virgin fibers, controlling usage of chemical dyes, ensuring optimum consumption of water and energy, etc. Consequently, they find extensive applications across various sectors, such as retail, apparel, automotive, home furnishing, mining, construction, etc.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The shifting preferences toward recycled textiles across countries, owing to the rising concerns about the detrimental impact of waste incineration, depletion of raw materials, heavy industrial discharges from textile mills, etc., are primarily driving the textile recycling market. In addition to this, the elevating level of greenhouse gas emission, on account of the increasing production of polyester and synthetic fabrics, is acting as another significant growth-inducing factor.
Apart from this, the escalating awareness among the masses regarding the importance of recycling old clothes, the launch of informative initiatives regarding textile recycling, and the introduction of door-to-door pickup programs for old garments by leading recycling companies are also positively influencing the market growth.
Moreover, the development of advanced technologies and the emerging trend of automation in the recycled textile industry are further stimulating the global market. Besides this, the growing use of eco-clothes made using recycled plastics, textiles, and other organic raw materials that help in waste reduction and reduce the dependency on virgin resources, which include cotton and wool, is expected to propel the textile recycling market in the coming years.
Textile Recycling Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global textile recycling market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
- Anandi Enterprises
- American Textile Recycling
- Boer Group Recycling Solutions
- I: Collect
- Infinited Fiber Company
- Pure Waste Textiles
- Retex Textiles Inc.
- Unifi Inc.
Key Market Segmentation:
The report has segmented the global textile recycling market on the basis of product type, textile waste, distribution channel, end use and region.
Based On Product Type:
- Cotton Recycling
- Wool Recycling
- Polyester & Polyester Fibre Recycling
- Nylon & Nylon Fibre Recycling
Based On Textile Waste:
- Pre-consumer Textile
- Post-consumer Textile
Based On Distribution Channel:
- Online Channel
- Retail & Departmental Stores
Based On End Use:
- Home Furnishings
Based On Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Access full report @: https://www.imarcgroup.com/textile-recycling-market
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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