Comprehensive Market Analysis on Textile Recycling Market projected to reach USD 11.3 Billion by 2030 | CAGR of 6.5% | Forecast period 2023-2030, published by MarketDigits

Textile Recycling Market Scope:
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
Segments Covered - Material Type, Distribution Channel, by Process, End Use and Region
Geographies Covered - North America, Europe, Asia Pacific, and Row
Sample of Companies Covered - The Woolmark Company, Worn Again technologies, Ecotex Group, HYOSUNG TNC, Lenzing AG, Martex Fiber

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Browse in-depth TOC on Textile Recycling Market
178-Tables
95-Figures
340-Pages

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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Top Key Players Covered in the Report-
Birla Cellulose, BLS Ecotech, Ecotex Group, HYOSUNG TNC, Lenzing AG, Martex Fiber, RenewCell, The Woolmark Company, Unifi, Worn Again technologies, and Others.

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Recent Developments
In November 2022, Renewcell, a trailblazer in textile-to-textile recycling, has entered into a Letter of Intent with Eastman Chemical Co., headquartered in Kingsport, TN/USA, a prominent manufacturer of cellulosic acetate fibers. This collaboration aimed to create Naia Renew ES yarns, which will be sourced from Circulose, Renewcell's fully recycled textile raw material. This agreement marks Renewcell's inaugural partnership with a US-based fiber producer and signifies a significant advancement in the development of acetate-based applications utilizing Circulose feedstock.

https://industrytoday.co.uk/market-research-industry-today/emerging-trends-and-innovations-for-the-textile-recycling-market-projected-to-reach-usd-113-billion-by-2030

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