Textile Recycling Market Size Worth $6.2 Billion By 2030: IndustryARC
Research Reports
Oct 03, 2023
Textile Recycling Market size is predicted to reach $6.2 billion by 2030, growing at a CAGR of 4.3% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The growing environmental concerns and rising levels of greenhouse gasses due to textile industry activities are fueling the growth of the Textile Recycling Market, finds IndustryARC in its recent report, titled “Textile Recycling Market – By Product Type (Cotton Recycling, Wool Recycling, Polyester & Polyester Fiber Recycling, Nylon & Nylon Fiber Recycling, others), By Textile Waste (Pre-consumer Textile, Post-consumer Textile), By Process (Mechanical and Chemical), By End-use (Apparel, Industrial, Home Furnishing, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030.”
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Europe to Register Highest Growth:
Geographically, Europe’s Textile Recycling Market share in the world is estimated to grow at the highest CAGR of 5.1% during the forecast period 2023-2030. The largest markets for recycled clothing are Italy, Germany, France, Poland, Belgium and The Czech Republic. The Italian Textile and Recycling Association (Prato, Italy) has more than a hundred companies. Here, old carpets and clothes from all over the world are collected and made into yarn. Such initiatives are likely to boost the growth of the textile recycling market in the region during the forecast period.
Moreover, the European Union has proposed a strategy for sustainable textile which will help the EU to transition to a climate-neutral, circular economy with products that are reusable, recyclable and energy-efficient. The proposed regulation further aims to ensure that the textile industry is fully recovered from the impact of the COVID-19 pandemic.
Textile Recycling Market 2023-2030: Scope of the Report
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Report Metric |
Details |
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Base Year Considered |
2022 |
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Forecast Period |
2023–2030 |
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CAGR |
4.3% |
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Market Size in 2030 |
$6.2 billion |
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Segments Covered |
Product Type, Textile Waste, Process, End-use and Region |
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Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
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Key Market Players |
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Textile Recycling Market Report – Key Takeaways:
- High Demand and Consumption of Cotton in Clothing and Other Textiles
Based on the product type, the cotton recycling segment had occupied more than half of the global Textile Recycling Market share in 2022.. The high demand and consumption of cotton in clothing and other textiles results in significant amounts of textile waste. Due to the large amount of cotton waste (both pre- and post-consumer), textile recycling companies are focusing even more on cotton recycling.
- Post-consumer Textile Segment to Register Highest Growth
The Textile Recycling Market analysis predicts that the post-consumer segment will grow at the highest rate during the forecast period. The average lifespan of new clothing has decreased significantly over the past few decades, which has led to an increase in waste in the textile industry.
- Rising Popularity of Fast Fashion
Fast fashion has become a big trend in the textile and clothing industry today, as it offers mass production of fashionable clothes at affordable prices. However, it negatively impacts the environment and is often criticized for unethical practices during its production phase. With the decline in apparel prices, fast fashion is becoming a common choice for customers, which may slow down the growth of the Textile Recycling Market over the forecast period.
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Key Opportunity Analysis:
Growing Trend of Circular Industry Adoption
A significant number of textile brands are now striving to move to a circular system, where they use sustainable and responsibly sourced materials and pay more attention to recycled materials. This strategy would allow the brands to contribute to the collective goal of reducing carbon footprints worldwide. Unlike the linear economy, the circular economy works towards eliminating waste entirely by designing products that are reusable, durable and repairable. These initiatives create a major opportunity for the Textile Recycling Market during the forecast period.
Growing Reduce Greenhouse Gas Emission
Increasing production of polyester and synthetic fabrics increases greenhouse gasses. According to a report published by the International Labor Organization, carbon dioxide emissions from the textile and clothing sector are 1.7 billion tonnes per year. To combat this problem, more and more companies are launching textile recycling initiatives. These factors will positively influence the outlook of the textile recycling industry during the forecast period.
Innovative Initiatives by Brands
Various recycling companies are planning informative projects to promote the benefits of textile recycling. Some of them have even introduced door-to-door programs to collect old clothes from consumers. Several brands also putting efforts into installing attractive fabric bins in public places to collect post-consumer clothing. Popular brand, H&M has launched its clothing collection program, which allows people to drop off old clothes in in their in-store recycling bins to be recycled or reused for a coupon in exchange for a coupon .
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The Report also Covers the Following Areas:
- Textile Recycling Market Size and Forecast
- Textile Recycling Market Trends
- Textile Recycling Market Analysis by Product Type
Textile Recycling Market 2023-2030: Key Highlights
- CAGR of the market during the forecast period 2023-2030
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- Textile Recycling Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Textile Recycling Market
Covid and Ukrainian Crisis Impact:
The textile industry has been severely affected by the COVID-19 pandemic. Since there was a lack of infrastructure and manpower, the operation of the textile industry was adversely affected by the complete disruption of the supply chain and several other factors. This destabilized the textile and clothing industry to a great extent.
The war between Russia and Ukraine resulted in some economic and other restrictions that led to reduced sales of textiles and clothing to Russia and some other Eastern European countries. Low sales caused a decrease in textile waste, which negatively affected the Textile Recycling Market.
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List of Key Market Players in Textile Recycling Market:
The key companies profiled in the Textile Recycling Market Report are listed below:
- Lenzing Ag
- Anandhi Texstyles Private Limited
- Hyosung TNC Corporation
- Boer Group
- Birla Cellulose
- Patagonia, Inc.
- Unifi Inc.
- Gebr. Otto Baumwollfeinzwirnerei GmbH + Co. Kg
- Leigh Fibers, Inc.
- Textile Recycling International
Related Reports:
Textile Machinery Market – The Textile Machinery Market is projected to grow at a CAGR of 6.3% from 2021 to 2026, owing to multiple factors such as growing automation process, various government policies and regulations, rising textile industry and others.
Plastic Recycling Market – The Plastic Recycling Market is projected to grow at a CAGR of 7.1% during the forecast period from 2022 to 2027. Growing demand for recycled plastic in the packaging sector and the increasing initiatives and regulations by the governments are anticipated to drive the growth of the market.
Sustainable Packaging Market – The Sustainable Packaging Market size is growing at a CAGR of 7.2% during the forecast period. It is due to the increasing demand for sustainable packaging in personal care and healthcare sectors as well as the growing government initiatives towards sustainability.
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Contact Information:
Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-4727
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