The ‘Global Textile Recycling Market Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global textile recycling market, assessing the market on the basis of its segments like material, textile waste, process, end-use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Textile Recycling Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 5.72 billion
• Forecast CAGR (2023-2028): 3.10%
• Forecast Market Size (2028): USD 6.86 billion
The global textile recycling market growth is being fuelled by rising awareness regarding textile recycling and increased availability of multiple textile collection centres and textile bins. The rising adoption of door-to-door services to pick up used textiles is streamlining the supply chain for textile recycling raw materials. Innovative and creative techniques used for the collection of textile waste like intriguing recycling bins attract the public and encourage textile recycling.
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Encouragement of textile recycling, by various governments worldwide, is further driving the growth of the textile recycling market. With rising awareness regarding the benefits of textile recycling and the importance of sustainability, there is a heightened demand for end-use products of textile recycling. End products of textile recycling are being used in the form of apparel, home furnishings, and industrial and institutional end-uses.
Advancements in textile recycling technology is further anticipated to drive the growth of the textile recycling market in the coming years. Improvements in textile recycling techniques have led to the production of end-use pieces that are visually appealing and durable, increasing their demand. Particularly in institutional and industrial end-uses, where visual aesthetic is of minor importance, the use of textile recycling is on the rise.
Textile Recycling Industry Definition and Major Segments
Textile recycling refers to the process of reusing used fibrous waste materials like textiles and textile scraps by reprocessing the materials. Used textile materials are usually sourced from old clothing, shoes, carpets, and other non-durable products to create new textiles and materials. Textile recycling helps in sustainability and has multiple benefits for the environment like reducing water and land pollution and decreasing chemical dye and water usage.
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Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/textile-recycling-market
On the basis of material, the market is divided into:
• Cotton
• Wool
• Polyester and Polyester Fibre
• Nylon and Nylon Fibre
• Others
Based on textile waste, the market is bifurcated into:
• Pre-Consumer Waste
• Post-Consumer Waste
On the basis of process, the market is classified into:
• Mechanical
• Chemical
Based on end-use, the market is segmented into:
• Apparel
• Industrial and Institutional
• Home Furnishings
• Others
On the basis of region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Textile Recycling Market Trends
A key trend in the textile recycling market supporting market growth is the increasing adoption of automated textile sorting technology. Textile recycling may be limited by lack of specialised sorters since it results in a less effective, more expensive, and error-prone sorting process. Automated textile sorting technology is becoming a crucial solution in the market for textile recycling as it aids recycling businesses in sustaining quality, reducing costs, and saving time. Increasing availability of automated textile sorting solutions and other technology for streamlined textile recycling are anticipated to further aid the growth of the market for textile recycling in the forecast period.
Expanding social awareness of textile recycling and rising environmental concerns about waste material are significant trends that are projected to propel the textile recycling market. Many businesses that generate textile waste are collaborating with textile recycling partners to maximise utilisation of waste textiles. Depending upon the partnership and business needs, textile recycling can be used as a means of disposing of waste textiles, or obtaining sustainable textiles that have been recycled.
Furthermore, recycled textiles are gaining popularity among consumers as they are environmentally friendly and sustainable. Accordingly, multiple clothing brands have started utilising more recycled clothing in their product offerings, thereby increasing the demand for textile recycling.
Key Market Players
The major players in the global textile recycling market report are
• MASC Inc. (SuperCircle)
• Boer Group Recycling Solutions
• Lenzing AG,
• Patagonia, Inc
• Procotex Corporation
• Unifi, Inc
• H&M Hennes & Mauritz AB
• Martex Fiber
• Textile Recycling International
• Ecotex Textilverwertung & Handel GmbH
• Grasim Industries Limited (Birla Cellulose)
• others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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