Richmond, March 05, 2024 (GLOBE NEWSWIRE) -- According to a research report "Textile Recycling Market”, by Material Type (Cotton, Wool, Polyester, Acrylic, Synthetic, Nylon, and Others), Distribution Channel (Online, Offline) by Process (Chemical, Mechanical), End Use (Apparel, Home Furnishing, Industrial, and Others), and Region - Global Forecast to 2030.
Global Textile Recycling Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 7.1 Billion |
| Market size value in 2030 | USD 11.3 Billion |
| CAGR (2023-2030) | 6.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Material Type, Distribution Channel, by Process, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Textile Recycling Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The textile recycling market has been experiencing significant growth driven by various factors such as increasing environmental concerns, rising awareness about sustainable fashion, and the need to reduce textile waste. I:CO, and TerraCycle have established themselves as key players in textile recycling, leveraging their brand reputation and recycling infrastructure. Growing awareness of the environmental impact of textile waste is motivating consumers and business towards sustainable solutions like textile recycling. The rise of sustainable fashion trends and the circular economy is increasing the demand for recycled textiles. Companies are implementing initiatives such as take-back programs and upcycling workshops to engage consumers in the recycling process and promote circular fashion. Textile recycling market is poised for continued growth determined by environmental concerns, regulatory pressures, and the growing adoption of sustainable fashion. Addressing challenges related to infrastructure, quality, consumer behavior, and economics will crucial for the long-term success of the industry.
Major vendors in the global Textile Recycling Market:
- Birla Cellulose
- BLS Ecotech
- Ecotex Group
- HYOSUNG TNC
- Lenzing AG
- Martex Fiber
- RenewCell
- The Woolmark Company
- Unifi
- Worn Again Technologies
- Others
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Increasing Environmental Concerns
The textile industry is well known for its significant contribution to global waste generation. Textile production consumes vast amounts of natural resources, including water, energy, and raw materials like cotton and polyester. Manufacturing processes, including dyeing and finishing, can release harmful chemicals and pollutants into the environment, contaminating waterways, soil, and air. Environmental concerns about pollution drive the adoption of textile recycling as a means to mitigate these environmental impacts. The textile industry is a significant contributor to greenhouse gas emissions, primarily through energy-intensive manufacturing processes and transportation. Increasing awareness among consumers about environmental issues, coupled with a growing demand for sustainable products, is driving businesses to adopt eco-friendly practices, including textile recycling. Increasing environmental concerns serve as a powerful driver in the textile recycling market by compelling stakeholders to address issues such as waste reduction, resource conservation, pollution mitigation, climate change, and consumer demand for sustainable solutions.
Market Dynamics
Drivers:
- Increasing Environmental Concerns
- Increasing Regulations on Waste Management and Sustainability
Opportunities:
- Advancements in Recycling Technologies
- Consumption of Natural Resources
Advancements in Recycling Technologies
Advancements in recycling technologies present a significant opportunity for the textile recycling market by enabling more efficient and effective processing of textile waste. Innovations in recycling processes streamline operations, reducing energy consumption and processing time while maximizing material recovery rates. Modern recycling technologies incorporate advanced sorting and quality control mechanisms, ensuring that recycled textiles meet rigorous standards for quality and performance. Advanced recycling technologies offer cost-saving opportunities by optimizing resource utilization, minimizing waste generation, and reducing reliance on expensive raw materials. Scalable recycling technologies enable textile recycling companies to increase production capacity in response to growing demand without compromising efficiency or quality. This flexibility allows companies to capitalize on market opportunities and expand their market presence rapidly. embracing these technologies and leveraging their benefits, textile recycling companies can reveal new growth opportunities and establish themselves as leaders in the transition towards a more sustainable and circular economy.
North America dominates the market for Textile Recycling.
North America accounts for the largest revenue share in the global Textile Recycling Market. Consumers in North America are increasingly aware of environmental issues and the importance of sustainable consumption practices. Governments in North America provide support and funding for recycling initiatives through grants, incentives, and public-private partnerships. This market is driven by advanced recycling infrastructure in North America. The region has well-developed collection systems, sorting facilities, and recycling centers, which enable efficient and effective processing of textile waste.
Asia-Pacific, The textile recycling market is mainly placed in the Asia Pacific region, which encompasses countries such as China, Japan, India, South Korea, Australia, Indonesia, Vietnam, and other nations within the region. Among these, China stands out as the largest market for textile recycling. This prominence is due to several factors, including the robust industrial infrastructure of the region, heightened awareness concerning the environmental consequences of waste, dwindling reserves of raw materials, and significant industrial emissions generated by textile mills. The Asia Pacific region serves as a major center for the textile and garment industry, fostering a strong demand for textile recycling solutions to address environmental concerns and resource scarcity.
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The Cotton Segments is anticipated to hold the Largest Market Share during the Forecast Period
Cotton is one of the most widely used natural fibers in the textile industry, making it sufficiently in textile waste streams. There is a growing awareness of the environmental impact of cotton production, which includes water consumption, pesticide use, and land degradation. The technology for recycling cotton fibers has advanced significantly, making it economically viable to recycle cotton textiles into new products. This technological advancement has increased the attractiveness of cotton recycling as a sustainable solution for reducing waste and conserving resources. The fashion industry's increasing focus on sustainability and circular economy principles further boosts the demand for recycled cotton. The combination of abundant supply, environmental concerns, technological advancements, and market demand positions the Cotton segment to hold the largest market share in the textile recycling industry during the forecast period.
Segmentations Analysis of Textile Recycling Market: -
- By Material Type
- Cotton
- Wool
- Polyester
- Acrylic
- Synthetic
- Nylon
- Others
- By Process
- Mechanical
- Chemical
- Others
- By End Use
- Apparel
- Home Furnishing
- Industrial
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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