Newark, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The global recycled textile market is projected to grow from USD 6.20 billion in 2020 to USD 10.37 billion by 2028, at a CAGR of 6.74% during the forecast period 2021-2028. Global recycled textile market is witnessing a rapid growth owing to rising awareness about harmful impact of textile waste on the environment.
The Brainy Insights Launched a Study titled Recycled Textile Market by Type (Recycled Cotton, Recycled Wool, Recycled Polyester, Recycled Nylon), Textile Waste Type (Pre Consumer Waste, Post-Consumer Waste), End User, Regions, and Global Forecast 2021-2028
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Base Year | 2020 |
| Market Size in 2028 | USD 10.37 billion |
| CAGR | 6.74% |
| No. of Pages in Report | 234 |
| Segments Covered | Type, textile waste type, end-user, and regions |
| Drivers |
|
| Opportunities | Many international brands are focusing on recycling of textiles |
| Restraints | High cost of operation for recycling |
The recycled polyester dominated the global market and held the largest market share and valued at USD 2.50 billion in the year 2020
The type segment is divided into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. The recycled polyester dominated the global market and held the largest market share and valued at USD 2.50 billion in the year 2020. The recycling of polyester reduced the dependence of the petroleum products for the raw material and also helps to reduce the pollution. Thus, rising recycling of polyester driving the growth of the market.
The post-consumer waste accounted for the major market share of 54.87% in the year 2020
The textile waste type segment is divided into pre-consumer and post-consumer waste. The post-consumer waste accounted for the major market share of 54.87% in the year 2020. The growth is mainly due to many brands are collecting the used clothing from the consumers. Therefore, the growin0g collection of used cloth for recycling purpose, driving the growth of the market.
The apparel segment accounted for the major market share and valued at USD 3.86 billion in the year 2020
The end user segment includes apparel, industrial, home furnishings, non-woven, and others. The apparel segment accounted for the major market share and valued at USD 3.86 billion in the year 2020. Increased demand for personalized and low-cost apparels, primarily driving the growth of the market.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region dominated the global recycled textile market and held the major market share of 45.65% in the year 2020. The growth is mainly due to increasing demand for recycled clothes in the countries such as China and India. In addition to this, the presence of a large number of recycling textile industries across the region, further boosting the growth of the market. Europe region is emerged as the fastest-growing region and growing at a CAGR of 7.5% over the forecast period. Increasing awareness about the environmental impact of textile wastage, driving the growth of the market in the European region.
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Competitive Analysis:
Major players in the global recycled textile market are Khaloom, Chindi, Kishco Group, Anandi Enterprises, Usha Yarns Ltd., Renewcell AB, Hyosung TNC Co. Ltd., Martex Fiber, Otto Garne, and Leigh Fibers Inc. among others.
About the report:
The market is analyzed based on value (USD Billion) and volume (k units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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