Textile Recycling Market 2030, By Material Type (Cotton, Wool, Polyester, Acrylic, Synthetic, Nylon, and Others), Distribution Channel (Online, Offline) by Process (Chemical, Mechanical), End Use (Apparel, Home Furnishing, Industrial, and Others), and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Chemicals & Materials | Pages : 184 Pages | Published On : Mar 2024

         
     

Textile Recycling Market was valued USD 7.1 Billion in 2022 and projected to reach USD 11.3 Billion by 2030, growing at a CAGR of 6.5% during the forecast period of 2023-2030.

Textile Recycling Market Size


Graph
             2019                         2023-2030      

ReportDetails
Market Size ValueUSD 7.1 Billion in 2022
Market Size ValueUSD 11.3 Billion by 2030
CAGR6.5%
Forecast Period2023-2030
Historic Data2019
Forecast UnitsValue (USD Million/USD Billion)
Segments CoveredMaterial Type, Process, Distribution Channel and Region
Geographics CoveredNorth America, Europe, Asia Pacific, and RoW

Major vendors in the global Textile Recycling Market: Birla Cellulose, BLS Ecotech, Ecotex Group, HYOSUNG TNC, Lenzing AG, Martex Fiber, RenewCell, The Woolmark Company, Unifi, Worn Again technologies, and Others.

Market Overview

The textile recycling market has been experiencing significant growth driven by various factors such as increasing environmental concerns, rising awareness about sustainable fashion, and the need to reduce textile waste. I:CO, and TerraCycle have established themselves as key players in textile recycling, leveraging their brand reputation and recycling infrastructure. Growing awareness of the environmental impact of textile waste is motivating consumers and business towards sustainable solutions like textile recycling. The rise of sustainable fashion trends and the circular economy is increasing the demand for recycled textiles. Companies are implementing initiatives such as take-back programs and upcycling workshops to engage consumers in the recycling process and promote circular fashion. Textile recycling market is poised for continued growth determined by environmental concerns, regulatory pressures, and the growing adoption of sustainable fashion. Addressing challenges related to infrastructure, quality, consumer behavior, and economics will crucial for the long-term success of the industry.

Increasing Environmental Concerns                            

The textile industry is well known for its significant contribution to global waste generation. Textile production consumes vast amounts of natural resources, including water, energy, and raw materials like cotton and polyester. Manufacturing processes, including dyeing and finishing, can release harmful chemicals and pollutants into the environment, contaminating waterways, soil, and air. Environmental concerns about pollution drive the adoption of textile recycling as a means to mitigate these environmental impacts. The textile industry is a significant contributor to greenhouse gas emissions, primarily through energy-intensive manufacturing processes and transportation. Increasing awareness among consumers about environmental issues, coupled with a growing demand for sustainable products, is driving businesses to adopt eco-friendly practices, including textile recycling. Increasing environmental concerns serve as a powerful driver in the textile recycling market by compelling stakeholders to address issues such as waste reduction, resource conservation, pollution mitigation, climate change, and consumer demand for sustainable solutions.

Market Dynamics

Drivers:

  • Increasing Environmental Concerns
  • Increasing Regulations on Waste Management and Sustainability

Opportunities:

  • Advancements in Recycling Technologies
  • Consumption of Natural Resources

Advancements in Recycling Technologies

Advancements in recycling technologies present a significant opportunity for the textile recycling market by enabling more efficient and effective processing of textile waste. Innovations in recycling processes streamline operations, reducing energy consumption and processing time while maximizing material recovery rates. Modern recycling technologies incorporate advanced sorting and quality control mechanisms, ensuring that recycled textiles meet rigorous standards for quality and performance. Advanced recycling technologies offer cost-saving opportunities by optimizing resource utilization, minimizing waste generation, and reducing reliance on expensive raw materials. Scalable recycling technologies enable textile recycling companies to increase production capacity in response to growing demand without compromising efficiency or quality. This flexibility allows companies to capitalize on market opportunities and expand their market presence rapidly. embracing these technologies and leveraging their benefits, textile recycling companies can reveal new growth opportunities and establish themselves as leaders in the transition towards a more sustainable and circular economy.

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.

The Cotton Segments is anticipated to hold the Largest Market Share during the Forecast Period

Cotton is one of the most widely used natural fibers in the textile industry, making it sufficiently in textile waste streams. There is a growing awareness of the environmental impact of cotton production, which includes water consumption, pesticide use, and land degradation.  The technology for recycling cotton fibers has advanced significantly, making it economically viable to recycle cotton textiles into new products. This technological advancement has increased the attractiveness of cotton recycling as a sustainable solution for reducing waste and conserving resources. The fashion industry's increasing focus on sustainability and circular economy principles further boosts the demand for recycled cotton.  The combination of abundant supply, environmental concerns, technological advancements, and market demand positions the Cotton segment to hold the largest market share in the textile recycling industry during the forecast period.

Segmentations Analysis of Textile Recycling Market: -

  • By Material Type
    • Cotton
    • Wool
    • Polyester
    • Acrylic
    • Synthetic
    • Nylon
    • Others
  • By  Process
    • Mechanical
    • Chemical
    • Others
  • By End Use
    • Apparel
    • Home Furnishing
    • Industrial
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

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.

Textile Recycling Market Report Gives Answers to Following Key Questions:

  • What will be the Textile Recycling Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Textile Recycling Market?
  • What are the main forces behind the worldwide Textile Recycling Market? Which companies dominate the Textile Recycling Market?
  • Which companies dominate the Textile Recycling Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Textile Recycling industry's suppliers' opportunities and dangers in Textile Recycling Market?
  • What is the Textile Recycling industry's regional sales, income, and pricing analysis? In the Textile Recycling Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Textile Recycling Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Textile Recycling Market?
  • What are the dominant revenue-generating regions for Textile Recycling Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Textile Recycling Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Textile Recycling Market? What are the Textile Recycling Market’s main applications?
  • In the coming years, which Textile Recycling Market technology will dominate the market?

Reason to purchase this Textile Recycling Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Textile Recycling Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Textile Recycling Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Textile Recycling Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Textile Recycling Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Textile Recycling Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

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Methodology:

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Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

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