With 2.6% CAGR, Textile Recycling Market to $ 5.86 Billion by 2027 | Global Industry Report
According to IMARC Group’s latest report, titled “Textile Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
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 refers to the process through which old clothing and other textiles are retrieved for material recovery or reuse. The essential steps in the textile recycling process consist of the collection, donation, sorting, and processing of textiles, and then subsequent transportation to end users of employed rags, garments, or other recovered materials. At present, recycled textiles find wide applications across several end-use industries, including apparel, home furnishings, retail, automotive, mining, and construction.
Year considered to estimate the market size:
- Base year of the analysis: 2021
- Historical period: 2016-2021
- Forecast period: 2022-2027
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Textile Recycling Market Trends:
The growing environmental concerns regarding waste production represents one of the key factors driving the market growth. In line with this, the growing production of synthetic and polyester fabrics lead to the high emission levels of greenhouse gases (GHGs), thereby boosting the need for recycled fabrics on the global level. Moreover, the rising public awareness toward the importance of recycling old clothes, along with the increasing number of collection bins for cloth sorting, is contributing to the market growth. In addition to this, various recycling companies are launching informative initiatives regarding textile recycling along with introducing door-to-door pickup programs for old garments. This, in turn, is driving the market growth. Other factors, such as significant technological advancements and the introduction of eco-clothes that are made up of recycled textiles, plastics, and other organic raw materials, are creating a positive outlook for the market.
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.
Some of these key players include:
- Anandi Enterprises
- American Textile Recycling
- Boer Group Recycling Solutions
- I: Collect
- Infinited Fiber Company
- Patagonia
- Prokotex
- 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
- 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 (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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