Textile Recycling Market: Overview, Dynamics, Trends, Segmentation, Key Players, Application and Forecast to 2022-2027

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.

Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 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:

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.

Breakup by Product Type:

Cotton Recycling
Wool Recycling
Polyester & Polyester Fibre Recycling
Nylon & Nylon Fibre Recycling
Others

Breakup by Textile Waste:

Pre-consumer Textile
Post-consumer Textile

Breakup by Distribution Channel:

Online Channel
Retail & Departmental Stores

Breakup by End Use:

Apparel
Industrial
Home Furnishings
Non-woven
Others

Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

Some of these key players include:

Anandi Enterprises
American Textile Recycling
Boer Group Recycling Solutions
I: Collect
Infinited Fiber Company
Patagonia
Prokotex
Pure Waste Textiles
Retex Textiles Inc.
Unifi Inc.

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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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