replique montre fausse rolex african american wigs diamond art Recycled Textile Market | Size, Growth, Opportunity and Forecast to 2025
 

Recycled Textile Market | Size, Growth, Opportunity and Forecast to 2025

By Digvijay Chakravarty 08 May 2020 Top stories,Business

Global Recycled Textile Market is valued at USD 5.56 Billion in 2019 and expected to reach USD 8.15 Billion by 2026 with the CAGR of 5.61% over the forecast period. Growing textile industry as well as increasing environmental concern are driving the Global Recycled Textile Market.

Scope of Global Recycled Textile Market Report–

Textile recycling is defined as the process by which old clothing and other textiles such as fiber, yarn or fabric are recovered for reuse or material recovery which is the basis of textile recycling industry. The required steps in textile recycling includes donation, collection, sorting, processing of textiles and transportation to end users. The result of this processing can vary, from the manufacture of energy and chemicals to new articles of clothing. The business of the products derived from textile recycling is called recycled textile market.

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Global Recycled Textile Market report is segmented on the basis of type, end-user, and by regional & country level. Based on type, global recycled textile market is classified as recycled cotton, recycled wool, recycled polyester, recycled nylon and others. Based upon end-user, global recycled textile market is classified into automotive, retail, mining, building & construction and others.

The regions covered in this recycled textile market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of recycled textile is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Key Players for Global Recycled Textile Market Report-

Some major key players for global recycled textile market are Khaloom, Kishco Group, Usha Yarns Ltd., Hyosung TNC Co. Ltd., Chindi, Anandi Enterprises, Renewcell AB, Matrex Fiber, Otto Garne, Leigh Fibers Inc. and others.

Global Recycled Textile Market Dynamics

The major factors driving the recycled textile market are the ever growing textile industry, increasing consumer textile waste and growing environmental awareness among consumers. Globalization has resulted in fast fashion trend where due to low price of cloth, many consumers considered it to be disposable which creates base for textile recycling industry. The importance of recycling textiles is increasingly being recognized as wastage grows exponentially per year as over 80 billion garments are produced annually, globally, producing proportion amount of garment wastage. As of now, the textile industry has evolved in to a USD 1 trillion industry including clothing, furniture, mattress, linens etc. this huge market is the major source as well as driver of the recycled textile market. The hazards of such type of waste can be known from the fact that, natural fibers can take hundreds of years to decompose and may discharge methane and carbon dioxide into the atmosphere. Additionally, synthetic gas release toxic substances into groundwater and surrounding soil. As society is becoming familiar with hazards regarding landfill of textile products and new technological development of recycling process, it is expected that recycled textile industry will continue to expand in future.  But, increasing processing cost as well as low quality job may hamper the market growth.

Global Recycled Textile Market Regional Analysis–

North America is dominating the global recycled textile market with highest share due to the developed textile market, growing textile waste needed to be recycled and supportive government initiatives in this region. For example; in 2015, U.S. EPA stated that, about 16 million tons of textile municipal solid waste (MSW) was produced in 2015, which was approximately 6.1% of total MSW generation. Additionally, the rate for textiles resulting from clothing and footwear waste was 14.2%, while the recycle for sheets and pillowcases was 16.3% in 2015. And this has grown exponentially in recent years due to environmental measures taken globally as well as in North America.

Europe is the second largest market for recycled textile due to increasing number of textile industries and increasing awareness on environment safety in this region. In addition, it is considered as the fashion destination of the world. As per the research by a U.K. industry source, approximately 50% of wastage textiles are reused and recycled and over 61% of recovered wearable cloths are exported to other countries. This shows the massive industry of recycled textile that is present in Europe. Asia-Pacific is expected to have high growth rate in this market due to developing economy and growing environmental awareness in this region.

Key Benefits for Global Recycled Textile Market Report–

  • Global Recycled Textile Market report covers in depth historical and forecast analysis.
  • Global Recycled Textile Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
  • Global Recycled Textile Market report helps to identify opportunities in market place.
  • Global Recycled Textile Market report covers extensive analysis of emerging trends and competitive landscape.

Global Recycled Textile Market Segmentation:–

By Type

  • Recycled cotton
  • Recycled wool
  • Recycled polyester
  • Recycled nylon
  • Others

By End-User

  • Automotive
  • Retail
  • Mining
  • Building & construction
  • Others

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Digvijay Chakravarty

Digvijay Chakravarty presently develops content for a slew of portals, including businessstatsnews and Industry Stats Report. A post graduate in mathematics and business administration. As a content writer, he currently writes articles pertaining to the latest industry news, business trends, and market research.

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