Portland, OR, May 13, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global recycled textile industry was pegged at $5.3 billion in 2018, and is expected to reach $8.0 billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026. The report offers a detailed analysis of the drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
Reduced CO2 emissions and water & energy consumption, and increase in awareness amongst consumers and manufacturers have propelled the growth of the global recycled textile market. However, high processing cost and lower quality of recycled textile impede the market growth. On the contrary, technological advancements in recycling process is expected to offer multiple opportunities in the near future.
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The global recycled textile market is analyzed by type, end-user industry, and region. Based on type, the market is fragmented into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. The recycled polyester segment dominated the market in 2018, accounting for nearly half of the total market share. The segment is anticipated to rule throughout 2026. On the other hand, the recycled nylon segment is anticipated to portray the fastest CAGR of 5.7% from 2019 to 2026.
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Based on end-user, the global market is categorized into automotive, retail, mining, building & construction, and others. The retail segment dominated the global market in 2018, accounting for more than two-fifth of the market. The segment would maintain its dominant position throughout the forecast period. In addition, the automotive segment is anticipated to register the highest CAGR of 5.7% during the forecast period.
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Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The market across Asia Pacific held the largest share in 2018, accounting for more than one-third of the market. Furthermore, the region is expected to dominate the market throughout the study period. On the other hand, the North America region is expected to manifest the fastest CAGR of 5.8% in between 2019 to 2026.
Major market players in the report include Khaloom, Chindi, Kishco Group, Anandi Enterprises, Usha Yarns Ltd., Renewcell AB, Hyosung TNC Co. Ltd., Martex Fiber,Otto Garne, and Leigh Fibers Inc.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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