WASHINGTON, April 25, 2023 (GLOBE NEWSWIRE) -- The Global Textile Recycling Market is valued at USD 6.5 Billion in 2022 and is projected to reach a value of USD 9.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.2% over the forecast period 2023-2030.
Market Overview
The expanding sustainability worries about the negative effects of waste incineration, large industrial discharge from garment factories, and the depletion of raw materials, such as silk, wool, etc., are the main factors driving the increased demand for recycled textiles. Also, the high levels of greenhouse gas emissions caused by the expanding production of artificial fibers and silk materials have increased the need for recycled fabrics globally.
We forecast that the cotton in textile recycling market sales will account for more than 51% of total sales by 2030. Cotton is one of the main contributors to textile waste due to its high demand and usage in garments and other materials. Some of the non-renewable textiles gathered for regeneration cotton are also included. Wool clothing has a higher inherent durability and a longer life expectancy in the textile business.
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Market Dynamics
Increasing Demand for the Cotton Exports Support Market Expansion
Clothing made of silk, which is more affordable than cotton, has significantly replaced cotton. Global cotton production has expanded, driving up market demand. Moreover, the United States is a significant producer and exporter of cotton, playing a significant role in the worldwide cotton market. Additionally, the development of eco-clothes, which use recycled textiles, plastics, and other organic raw materials, has reduced trash generation, reduced the need for landfill space, and reduced reliance on virgin resources like cotton. In the upcoming years, all of the factors mentioned will continue to support the expansion of the worldwide textile recycling market.
Growing Textile Industry to Fuel the Market Growth
The market is predicted that increased consumer awareness of waste disposal and recycling will fuel demand for recycled textiles globally. Because of rising incomes for consumers and increasing concerns regarding the environment, as well as recycling textiles reducing reliance on virgin fibers, environmental pollution, use of synthetic dyes, and consumption of energy and water, the market for recycled textiles is expected to grow globally. Further, the economy for recycled textiles is anticipated to be supported by opportunities worldwide in the upcoming years owing to ongoing technological advancements in recyclable textile materials, such as mechanical recycling, contaminant recycling for synthetics, cannabinoid recycling for blended fiber, and chemical recycling for natural fiber.
Top Players in the Global Textile Recycling Market
- Worn Again Technologies (UK)
- Lenzing Group (Austria)
- Birla Cellulose (Mumbai, India)
- BLS Ecotech (India)
- Ecotex Group (Wuppertal, Germany)
- The Boer Group (Germany)
- Unifi Inc. (U.S.)
- Textile Recycling International (Manchester, UK)
- Hyosung Group (South Korea)
- Martex Fiber (U.S.)
- Re NewCell (Sweden)
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Top Trends in the Global Textile Recycling Market
- One trend that Vantage Market Research (VMR) expects to see in the textile recycling industry is the growing demand in the mechanical industry. The textile recycling industry has developed a market for mechanical recycling. The majority of the major players have been mechanically recycling various textiles. Cotton is primarily recycled without the use of chemicals through shredding and respinning. In addition, most regenerated wool and synthetic fibers are recycled mechanically rather than chemically. It has a great demand in the market because it doesn't have contact with substances.
- Another trend that VMR predicts will continue in the textile recycling industry is its increasing trend of sustainable fashion. One of the main drivers of the Indian textile recycling market is the growing trend of sustainable fashion and the rising demand for clothing with more ecological integrity due to the growing market awareness of the negative environmental effects of making new clothing. The growing demand for eco-clothes composed of recycled textiles, plastic, and other organic raw materials that reduce the need for dumping sites and trash incineration is also boosting the market's expansion.
Top Report Findings
- Based on the Material, the cotton category controls most of the textile recycling market's revenue. Because of its extensive use in clothing and other textile and strong demand, cotton is one of the greatest contributors to textile waste. There is also a sizable quantity of non-renewable textiles gathered for cotton reclamation.
- Based on Type, most of the textile recycling market's revenue is controlled by the home furnishing category. Fabric waste from sofas, sofas, windows, carpets, and pillows is included in household furnishings waste. Worldwide increases in disposable income have led to higher expenditure and more frequent purchases of these things, boosting waste production. A poll found that in the UK, one-third of people discard functioning furniture still in good condition, adding to the country's waste problem.
- Based on the Process, the mechanical category controls most of the textile recycling market's revenue. In the textile recycling industry, the mechanical recycling market has grown. Most of the big players have used mechanical recycling to recycle various fabrics. Cotton is recycled in large quantities by disintegrating and respinning cotton without chemicals. Also, the overwhelming majority of recycled wool and polyester is recycled mechanically rather than chemically. It has a great demand in the market because there is no chemical contact.
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Recent Developments in the Global Textile Recycling Market
- In June 2020, Indorama Ventures Public Company Limited acquired AG Resinas Ltda's PET recycling facility through one of its firms. The company has acquired a 100% stake in the stock of the Brazilian company in Juiz de Fora that recycles PET into PET flakes and pellets.
- In June 2022, the solid waste recycling rate is currently at 4% due to efforts made by the Brazilian Association of Cleaning and Waste Businesses, ABRELPE. National Recycling Day was established on June 5 to increase public awareness of collection, separation, recycling, and reuse.
Cotton Category of the Material Segment of the Textile Recycling Market Forecast to Generate More than Half the Global Segment Revenue
For better understanding, based on the Material, the textile recycling market is divided into Cotton, Polyester, Wool, Polyamide and Other Materials.
The Cotton market was the largest by application, and it is anticipated to hold the top spot during the projected period. A crop that is mostly used in the textile industry is cotton. It is a perennial crop that is gathered when there has been a moderate amount of rain and when there has been enough sunshine. It is a desirable crop for dry and semi-arid areas since it can tolerate some salt and drought.
On the other hand, the Polyester category is anticipated to grow significantly. Due to increased demand in the fashion industry, polyester recycling is accelerating. Businesses have committed to replacing normal polyester in clothing with more recycled polyester. Nylon is used most frequently in polyamide recycling, and the chemical recycling process is most frequently used. Now, just a few companies recycle nylon due to numerous technological challenges. Although it can also come from items like used fishing nets, most of the polyamide used for recycling comes from the used fabric.
Asia Pacific Region of the Global Textile Recycling Market Expected to Generate More a Great Chunk of the Global Revenue
The Asia Pacific region is anticipated to do so in the coming years. In the past, India has been a large importer of secondhand textiles and clothes worldwide. The growth of the market for processing used clothing in India has significantly aided charity, particularly in Africa, fueling the market for recycled textiles in the region. In addition, the region's expanding population, the expansion plans of various market competitors, and the expanding textile and apparel sector all contribute to the market growth for recycled textiles in the Asia Pacific.
Europe is expected to see the fastest growth in the Textile Recycling market. Key growth factors include the adoption of door-to-door clothes pickup and the placement of clothes collection boxes in public areas. And the industry is expanding as more people decide to use these materials because they are cozy and offer other advantages. Moreover, as leading businesses develop fresh technologies for automated sorting applications, the European textile recycling market is anticipated to expand over the coming years.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Textile Recycling Market Forecast Report (2023-2030).
Global Textile Recycling Market Segmentation
By Material
- Cotton
- Polyester
- Wool
- Polyamide
- Other Materials
By Source
- Apparel Waste
- Home Furnishing Waste
- Automotive Waste
- Other Sources
By Process
- Mechanical
- Chemical
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 6.5 Billion |
| Revenue Forecast by 2030 | USD 9.9 Billion |
| CAGR | 6.2% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Worn Again Technologies, Lenzing Group, Birla Cellulose, BLS Ecotech, Ecotex Group, The Boer Group, Unifi Inc. |
| Customization Options | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/textile-recycling-market-2094/request-sample |
Key Questions Answered in Textile Recycling Market Report
- What is the current size and growth rate of the textile recycling market, and what are the main factors driving this growth?
- What are the different types of textile recycling processes and technologies, and what are their respective advantages and limitations?
- What are the main end-use applications for recycled textiles, and how do they compare to virgin materials in terms of quality, cost, and sustainability?
- What are the main challenges and opportunities facing the textile recycling industry, such as regulatory barriers, supply chain issues, and consumer demand?
- Who are the leading players in the textile recycling market, and what are their respective market shares, strategies, and competitive landscapes?
- What are the emerging trends and innovations in textile recycling, such as new materials, processes, and business models, and how are they likely to shape the market in the future?
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