According to the latest report by IMARC Group, titled “Textile Recycling Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026,” the global textile recycling market reached a value of around US$ 5 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 5.7 Billion by 2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Textile recycling refers to reprocessing and reusing old clothing, scarps, and fibrous waste materials. These materials are usually recovered from carpets, furniture, tires, discarded clothes, and other non-durable goods, such as towels and sheets. Textile recycling offers various economic benefits, such as minimizing reliance on virgin fibers, curbing the usage of chemical dyes, reducing water and land pollution, etc. It has emerged as an effective method for ensuring sustainable practices in the apparel industry. Textile recycling also finds extensive applications across several other end-use industries, including retail, home furnishings, automotive, building, construction, mining, etc.
The growing environmental concerns regarding the detrimental impact of waste incineration, depletion of raw materials, heavy industrial discharges from textile mills, etc., are primarily driving the textile recycling market. Moreover, the increasing production of synthetic and polyester fabrics has led to the high emission levels of greenhouse gases, thereby escalating the need for recycled fabrics and catalyzing the market growth. Besides this, the rising public awareness regarding the importance of recycling old clothes and the elevating number of collection bins for cloth sorting are augmenting the global market. Additionally, the introduction of door-to-door pickup programs for old garments by recycling companies is acting as another significant growth-inducing factor. Apart from this, the growing popularity of eco-clothes, which are made up of recycled plastics, textiles, and other organic raw materials, is anticipated to fuel the textile recycling market over the forecasted period.
Textile Recycling Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global textile recycling market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
- Anandi Enterprises
- American Textile Recycling
- Boer Group Recycling Solutions
- I: Collect
- Infinited Fiber Company
- Pure Waste Textiles
- Retex Textiles Inc.
- Unifi Inc.
Key Market Segmentation:
The report has segmented the global textile recycling market on the basis of product type, textile waste, distribution channel, end use and region.
Breakup by Product Type:
- Cotton Recycling
- Wool Recycling
- Polyester & Polyester Fibre Recycling
- Nylon & Nylon Fibre Recycling
Breakup by Textile Waste:
- Pre-consumer Textile
- Post-consumer Textile
Breakup by Distribution Channel:
- Online Channel
- Retail & Departmental Stores
Breakup by End Use:
- Home Furnishings
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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