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.
Textile recycling involves recovering, reusing, and reprocessing clothes, scarps, or waste fibrous materials into various usable and functional products. It includes collecting, sorting, processing, shredding, cleaning, blending, and spinning non-durable goods, furniture, tires and footwear as some of the standard methods. Textile recycling can be performed using various materials, such as cotton, polyester, wool, and nylon. It reduces the pressure of procuring unused raw materials, inhibits energy consumption, decreases landfill space requirements, and lowers pollution levels.
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 global textile recycling market is primarily driven by the increasing energy consumption and rising environmental concerns and awareness of the detrimental effects of waste insertion and discharge by industries. Additionally, the implementation of numerous recyclable programs and green initiatives by governments focusing on promoting the uptake of recycled materials while ensuring waste management are propelling the market growth. Moreover, significant technological advancements, including the installation of automated machines for reprocessing textiles at lower operational costs, are impelling the market growth. Besides this, the establishment of waste treatment solutions and strategic collaborations amongst key players to introduce sustainable clothes are contributing to the market growth.
Textile Recycling Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global textile recycling market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
- Anandi Enterprises
- American Textile Recycling
- Boer Group Recycling Solutions
- I: Collect
- Infinited Fiber Company
- Pure Waste Textiles
- Retex Textiles Inc.
- Unifi Inc.
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
Breakup by Textile Waste:
- Pre-consumer Textile
- Post-consumer Textile
Breakup by Distribution Channel:
- Online Channel
- Retail & Departmental Stores
Breakup by End Use:
- Home Furnishings
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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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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