IMARC Group, a leading market research company, has recently releases report titled “Textile Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global textile recycling market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the textile recycling market?
Report Attributes
The global textile recycling market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2028, exhibiting a growth rate (CAGR) of 2.85% during 2023-2028.
What is Textile Recycling?
Textile recycling is the process of recovering and repurposing fiber, yarn, and fabric from post-consumer or pre-consumer textile waste, thereby diverting it from landfills and contributing to a circular economy. This practice is increasingly seen as an essential component of sustainable development within the textile industry, especially given that textiles are one of the most waste-generating sectors. Characteristics of textile recycling include the sorting of materials based on type, such as cotton, wool, or synthetic fibers, followed by cleaning and processing to remove impurities or contaminants. After sorting and cleaning, the textile materials undergo shredding or mechanical breaking down into their basic fiber forms.
These fibers can then be respun into new yarns or used as stuffing materials, industrial rags, or even as raw material for the paper industry. Advanced textile recycling features may also involve chemical processes that break down materials at the molecular level, allowing for higher-quality recycled fibers. The process may also include integrated technologies for automated sorting and contamination detection, enhancing the efficiency and effectiveness of textile recycling. Through these various methods and features, textile recycling not only mitigates waste but also saves energy and resources, thereby contributing to environmental conservation.
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What are the growth prospects and trends in the textile recycling industry?
The escalating awareness about environmental sustainability is one of the paramount factors propelling the demand for textile recycling globally. Coupled with this, the growing apprehension about landfill waste and carbon emissions is accelerating the market's expansion. Additionally, rising disposable incomes and changing consumer behavior are facilitating the adoption of sustainable practices, including textile recycling. Advancements in technology, such as automation and data analytics, are being employed to enhance the efficiency of the recycling process, from sorting to reselling, thus further boosting market growth. Concurrently, the uptick in fast fashion and the resultant waste have led to increased regulatory oversight, in turn driving the need for effective textile recycling solutions. Emerging technologies like Artificial Intelligence (AI) and Blockchain are being integrated into supply chain management to ensure transparency and traceability in the recycling process.
Moreover, the trend of smaller living spaces in burgeoning urban areas places constraints on storage, encouraging individuals to partake in textile recycling more actively. Environmental considerations are also shaping market dynamics. The rise in ethical consumerism has prompted key players in the textile industry to invest in research and development, aiming to produce recycled textiles that are not just eco-friendly but also high in quality. Organic and biodegradable materials are being increasingly used to create new products from recycled textiles. Furthermore, the growth of e-commerce and mobile applications is making textile recycling services more accessible to consumers, simplifying the donation and purchase of recycled textiles. Other catalysts such as societal shifts towards circular economy models, improving global living standards, and the adoption of responsible marketing strategies by organizations are collectively stimulating the growth of the textile recycling market worldwide.
Who are the key players operating in the industry?
The report covers the major market players including:
- Anandi Enterprises
- American Textile Recycling
- Boer Group Recycling Solutions
- I: Collect
- Infinited Fiber Company
- Patagonia
- Prokotex
- Pure Waste Textiles
- Retex Textiles Inc.
- Unifi Inc.
What is included in market segmentation?
The report has segmented the market into the following categories
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
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- 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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