Newark, Aug. 27, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global recycled textile market is projected to grow from USD 5.90 billion in 2023 to USD 8.41 billion by 2033, at a CAGR of 3.60% during the forecast period 2024-2033. The Asia Pacific region dominated the global recycled textile market and held the major market share of 42.87% in the year 2023. 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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The textile recycling industry is driven by two primary sources: post-consumer clothing and pre-consumer clothing. Post-consumer materials include used garments, car upholstery, and various household items, while pre-consumer waste consists of scraps generated as byproducts in the textile manufacturing process. Textile recycling involves recovering materials from used clothing for reuse or repurposing. This process includes steps such as clothing donation, collection, sorting, and recycling. It's worth noting that approximately 6% of global landfill content consists of textile waste, some of which degrades slowly and can emit harmful CO2 gases, posing environmental risks.
Recycled textiles offer several benefits, including reduced demand for dyes, decreased landfill space requirements, and lower consumption of water and energy. The global recycled textile market is experiencing rapid growth due to increasing awareness of the environmental impact of textile waste. Additionally, the rising demand for affordable clothing in various countries is further driving market growth. Technological advancements in recycling equipment also play a significant role in this expansion. Moreover, many international brands have launched initiatives to collect used clothing from consumers, creating new growth opportunities in the market. However, the high operational costs associated with textile recycling could pose challenges to market growth in the coming years.
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Report Metrics Details
| Report Metrics | Details |
| Market size available for years | 2024–2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Market Size in 2023 | $ 5.90 Billion |
| Projected Market Value in 2033 | $ 8.41 Billion |
| CAGR | 3.60% From 2024 to 2033 |
| Segments covered | Type, Textile Waste Type, End User, Regions |
| Geographies covered | North America, Asia Pacific, Europe, Middle East and Africa, and Latin America |
| Companies covered | Khaloom, Chindi, Kishco Group, Anandi Enterprises, Usha Yarns Ltd., Renewcell AB, Hyosung TNC Co. Ltd., Martex Fiber, Otto Garne, and Leigh Fibers Inc. |
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. The key players of global recycled textile market are majorly focusing on adoption of various strategies such as new product development, joint venture, collaboration, technological integration, product innovations, mergers & acquisitions, and partnerships to gain the significant market share in the industry. In January 2018, Leigh Fibers Inc. announced the plan to acquire the J.E. Herndon Company, a reprocessor of textile fibres and byproducts primarily connected to the cotton industry, to complements our overall product offerings and geographical expansion.
The type segment is divided into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. The recycled nylon segment is projected to grow at the highest CAGR of 5.33% over the forecast period. The growth is mainly due to the nylon’s various properties, including high strength and high elasticity. Thus, the rising use of recycled nylon in various end-user industries driving the growth of the market. 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 47.21 % in the year 2023. Rising trend of fast fashion, where fashion trends changed in a very short period of time, boosting the growth of post-consumer segment. The end-user segment includes apparel, industrial, home furnishings, non-woven, and others. The apparel segment accounted for the major market share of 61.11% in the year 2023. Increased demand for personalized and low-cost apparels, primarily driving the growth of the market.
Global recycled textile market is witnessing a rapid growth owing to growing awareness about the harmful impact of textile waste on the environment. In addition to this, the rising demand for low-cost clothing in various countries, further boosting the growth of the market. Furthermore, increasing technological innovation in the recycling equipment, also contributing to the growth of the market. Moreover, many international brands started an initiative to collect the used clothes from the consumers, providing the growth opportunities in the market. However, the high cost of operations of textile recycling may hamper the growth of the market over the forecast period.
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