Press release
Textile Recycling Market Size, Share, Growth, Report and Forecast 2024-2032
Textile Recycling Market
According to the report by Expert Market Research (EMR), the global textile recycling market size reached a value of USD 5.90 billion in 2023. Aided by the escalating global demand for sustainable fashion and the imperative reduction of landfill waste, the market is projected to further grow at a CAGR of 3.10% between 2024 and 2032 to reach a value of USD 7.75 billion by 2032.
Textile recycling involves the recovery of old clothing, unused textiles, and fabric waste, transforming them into new materials or products. This process plays a crucial role in environmental protection by reducing landfill waste, conserving natural resources, and minimising the carbon footprint associated with the production of new textiles.
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The primary catalysts for the textile recycling market growth include the increasing awareness of environmental issues, the rise of the circular economy, and the growing consumer demand for sustainable products. With the fashion industry being one of the major contributors to global waste and pollution, there is a significant shift towards sustainable fashion practices, boosting the demand for recycled textiles.
Technological advancements in recycling processes have also facilitated the market's expansion. Innovations such as chemical recycling methods enable the breakdown of fabrics into their original fibres, allowing for the production of high-quality recycled materials. These advancements not only enhance the efficiency of recycling but also broaden the range of textiles that can be recycled, further propelling textile recycling market growth.
Moreover, governmental policies and regulations promoting sustainability in the fashion industry have played a vital role in driving the Textile Recycling market. Initiatives aimed at reducing waste and encouraging the use of recycled materials have led to increased investment in textile recycling infrastructure and technologies.
The increasing collaboration between fashion brands, recycling companies, and technology providers is another positive trend. These partnerships aim to create closed-loop systems where textiles are designed with recyclability in mind, thus enhancing the efficiency and effectiveness of textile recycling.
The Textile Recycling market is witnessing significant growth across various regions, with Europe accounting for a significant portion of the textile recycling market share due to its stringent environmental regulations and strong consumer awareness of sustainability. The region's commitment to a circular economy and the presence of established recycling infrastructure contribute to its dominant market position.
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Textile Recycling Market Segmentation
The market can be divided based on material, textile waste, process, end-use, and region.
Market Breakup by Material
Cotton
Wool
Polyester and Polyester Fibre
Nylon and Nylon Fibre
Others
Market Breakup by Textile Waste
Pre-Consumer Waste
Post-Consumer Waste
Market Breakup by Process
Mechanical
Chemical
Market Breakup by End-Use
Apparel
Industrial and Institutional
Home Furnishings
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global textile recycling market. Some of the major players explored in the report by Expert Market Research are as follows:
MASC Inc. (SuperCircle)
Boer Group Recycling Solutions
Lenzing AG
Patagonia, Inc.
Procotex Corporation
Unifi, Inc.
H&M Hennes & Mauritz AB
Martex Fiber
Textile Recycling International
Ecotex Textilverwertung & Handel GmbH
Grasim Industries Limited (Birla Cellulose)
Others
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