[Latest] Global Textile Recycling Market Size/Share Worth

Austin, TX, USA, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Textile Recycling Market Size, Trends and Insights By Material (Cotton, Polyester, Wool, Polyamide, Others), By Process (Mechanical, Chemical), By Source (Apparel Waste, Home Furnishing Waste, Automotive Waste, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Textile Recycling Market size & share was valued at approximately USD 4.7 Billion in 2022 and is expected to reach USD 4.9 Billion in 2023 and is expected to reach a value of around USD 6.8 Billion by 2032, at a compound annual growth rate (CAGR) of about 3.8% during the forecast period 2023 to 2032.”

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Textile Recycling Market – Overview

Textile recycling involves reusing or repurposing textile materials to prevent them from ending up in landfills, contributing to waste reduction and environmental conservation. Textiles encompass a wide range of materials, including clothing, bedding, towels, curtains, and other fabric-based items.

The global textile recycling market is driven by increasing awareness and concern for environmental sustainability. The textile industry generates significant waste, and consumers are becoming more conscious of the environmental impact of production and disposal.

Initiatives and regulations favoring textile recycling, driven by the realization that textiles contribute to about 8% of all municipal solid waste in the United States, are propelling the market forward.

Advances in recycling technologies, including mechanical and chemical methods, play a crucial role in market growth. Mechanical recycling techniques, such as shredding and carding, extract fibers from used textiles without significant quality loss.

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Chemical recycling methods are evolving, regenerating textile fibers with characteristics comparable to virgin materials. The continuous evolution of these technologies enhances the feasibility and efficiency of textile recycling, attracting investments.

Inadequate collection infrastructure poses a significant challenge to the textile recycling market. Despite growing demand, the lack of proper collection systems results in a substantial portion of textiles ending up in landfills.

Only about 1% of textiles are currently recycled into new garments globally, according to the Ellen MacArthur Foundation, highlighting the need for convenient and widespread collection mechanisms.

Quality degradation during the recycling process and the prevalence of downcycling hinder the development of a closed-loop system. Mechanical recycling may result in fibers with reduced strength, leading to downcycling into lower-value products.

Overcoming these challenges requires ongoing research to improve the quality of recycled fibers and explore alternative recycling methods.

The increasing consumer demand for sustainable and eco-friendly fashion presents a significant opportunity for the textile recycling market. With over 60% of global consumers considering sustainability an important factor in purchasing decisions, there is a growing preference for clothing made from recycled materials, creating a market opportunity for textile recyclers to collaborate with fashion brands.

Government initiatives and regulations promoting sustainable practices and reducing textile waste create a favorable environment for market growth.

The European Union’s Circular Economy Action Plan, targeting recycling rates for textiles, aligns with the textile recycling industry, providing opportunities for businesses to participate in government-supported sustainability initiatives.

The global textile recycling market is segmented by material, source, and process. In terms of material, cotton holds the highest market share due to its dominance in the textile industry, driven by consumer awareness and demand for sustainable fashion.

Polyester is expected to grow at the fastest CAGR, fueled by its popularity for durability and affordability, coupled with increasing concerns about environmental impact and recycled polyester demand.

In the process segment, mechanical recycling has the highest market share, preferred for its simplicity and lower environmental impact. Chemical recycling is expected to grow at the fastest CAGR, thanks to advancements in handling a wider range of materials, including blended fabrics.

The source segment includes apparel waste, home furnishing waste, automotive waste, and others. Apparel waste dominates due to the large volume of discarded clothing globally, driven by consumer awareness campaigns. Automotive waste is expected to experience rapid growth due to increased focus on recycling materials from end-of-life vehicles.

Regionally, Asia Pacific will lead the textile industry in 2022 and is likely to lead in textile recycling due to its large manufacturing base, growing environmental awareness, and regulatory support for sustainability.

Europe is expected to grow at the fastest CAGR during the forecast period, driven by stringent environmental regulations and a strong emphasis on sustainability, aligning with circular economy principles and eco-friendly practices.

Notable developments include partnerships, innovations, and initiatives by key players. For example, Circ partnered with Zara to launch a womenswear collection from recycled textile waste, and Lenzing Group introduced LENZINGTM ECOVERO with REFIBRATM technology, contributing to a circular economy in the textile and fashion industry.

These developments showcase the industry’s commitment to sustainability and technological advancements.

(A free sample of the Textile Recycling report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Textile Recycling report has been modified to include the COVID-19 impact study prior to delivery.)

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 4.9 Billion
Projected Market Size in 2032	USD 6.8 Billion
Market Size in 2022	USD 4.7 Billion
CAGR Growth Rate	3.8% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Material, Process, Source and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Custom Market Insights has comprehensively analyzed Textile Recycling market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Textile Recycling industry.

The competitive landscape includes key innovators, after market service providers, market giants as well and niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well and value addition prospects. In addition, Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, emerging business models.

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Key questions answered in this report:

What is the size of the Textile Recycling market and what is its expected growth rate?
What are the primary driving factors that push the Textile Recycling market forward?
What are the Textile Recycling Industry's top companies?
What are the different categories that the Textile Recycling Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Textile Recycling market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Textile Recycling Market – Regional Insight

Based on Region, Textile Recycling market is segmented into North America, South America, Europe, Asia Pacific, the Middle East and Africa. Among all these, Asia Pacific is a dominant region in the textile industry in 2022 and is likely to lead during the forecast period due to the availability of a large textile manufacturing base in India, China, Bangladesh and Indonesia.

Growing environmental awareness and regulatory support for sustainability further contribute to the region’s leadership. Furthermore, the rapidly expanding automotive, clothing, and household clothing industries in this region are due to growing disposable income and changing lifestyles.

Europe is expected to grow at the fastest CAGR during the forecast period. Europe, with its stringent environmental regulations and a strong emphasis on sustainability, is likely to experience the fastest growth. The European market’s focus on circular economy principles and eco-friendly practices propels the growth in textile recycling. Countries such as Germany, France, the U.K., Spain, Netherlands are propelling the growth of the market in this region.

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Browse the full “Textile Recycling Market Size, Trends and Insights By Material (Cotton, Polyester, Wool, Polyamide, Others), By Process (Mechanical, Chemical), By Source (Apparel Waste, Home Furnishing Waste, Automotive Waste, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/textile-recycling-market/

List of the prominent players in the Textile Recycling Market:

Lenzing Group
Birla Cellulose
BLS Ecotech
The Woolmark Company
iinouiio Litd.
Ecotex Group
The Boer Group
Unifi Inc.
Textile Recycling International
Hyosung Group
Martex Fiber
RenewCell
Pistoni S.r.l
RE TEXTIL Deutschland GmbH
Worn again technologies
Others

These key players are adopting various organic and inorganic growth strategies such as M&A, joint ventures, collaborations, strategic alliances, expansion, new product launches among others to increase their revenues and business operations

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The Textile Recycling Market is segmented as follows:

By Material

Cotton
Polyester
Wool
Polyamide
Others

By Process

Mechanical
Chemical

By Source

Apparel Waste
Home Furnishing Waste
Automotive Waste
Others

Click Here to Get a Free Sample Report of the Global Textile Recycling Market @ https://www.custommarketinsights.com/report/textile-recycling-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Textile Recycling Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Textile Recycling Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Textile Recycling Market? What Was the Capacity, Production Value, Cost and PROFIT of the Textile Recycling Market?
What Is the Current Market Status of the Textile Recycling Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Textile Recycling Market by Considering Applications and Types?
What Are Projections of the Global Textile Recycling Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Textile Recycling Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Textile Recycling Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Textile Recycling Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Textile Recycling Industry?

Click Here to Access a Free Sample Report of the Global Textile Recycling Market @ https://www.custommarketinsights.com/report/textile-recycling-market/

Reasons to Purchase Textile Recycling Market Report

Textile Recycling Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Textile Recycling Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Textile Recycling Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Textile Recycling Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Textile Recycling market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Textile Recycling Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/textile-recycling-market/

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Textile Recycling market analysis.

The competitive environment of current and potential participants in the Textile Recycling market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Textile Recycling market should find this report useful. The research will be useful to all market participants in the Textile Recycling industry.
Managers in the Textile Recycling sector are interested in publishing up-to-date and projected data about the worldwide Textile Recycling market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Textile Recycling products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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