Advertising Driven Press Release Distribution
Advertising Driven Press Release Distribution
Recycle Yarn Market size is forecast to reach $5 billion by 2025, after growing at a CAGR of 6.5% during 2020-2025. The recycled yarn is a continuous length of synthetic fibers fabricated from the unused or waste products generated by textile industries. Recycling the yarn helps in waste management and makes the world, a better place to live. An increase in demand for a high-quality apparel with good durability and strength across various applications like automotive, building, and other industries is driving the growth of recycle yarn market globally. Moreover, government awareness programs and steps towards sustainability such as buyback schemes for PET bottles is also contributing to the growth of recycle yarn market size.
Type of Fiber- Segment Analysis
Based on type, the recycle PET yarn segment holds the largest share of more than 35% in the recycle yarn market in 2019. Polyethylene terephthalate is a manmade fiber synthesized from petroleum products. Recycling PET reduces our dependence on petroleum as raw material and also requires less energy. Recycled PET yarn has almost same strength as compared to virgin PET and finds various applications in the apparels and automobiles. Apart from recycle PET yarn, recycle cotton yarn has also significant shares of recycle yarn market. Ease of cotton yarn in weaving, rope making, sewing, and embroidery is propelling their market growth.
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Application – Segment Analysis
The apparel is the fastest growing segment in recycle yarn market and is projected to witness a CAGR of around 8% during the forecast period. An increase in demand for yarn to meet the clothing requirement of the population is driving the growth of recycle yarn. According to Environmental Protection Agency (EPA), 16.9 million tons of textile were generated in 2017.
The outbreak of novel coronavirus (COVID-19) has badly impacted various industry verticals such as the textile and automotive industry. Industries are being shuttered around the world resulting in the downfall and crisis of the economy. For instance, according to the China Passenger Car Association (CPCA), car sales in China fell 92% in the first half of February. Whereas, according to a survey by International Textile Manufacturers Federation (ITMF), the textile industry is witnessing on an average 8 percent drop in orders worldwide due to outbreak of COVID-19. Thus, the decrease in production of automotive and textile industry, inhibits the growth of recycle yarn market.
Geography- Segment Analysis
APAC dominated the recycle yarn market with a share of more than 35% in 2019, followed by North America and Europe. Rapid industrialization and increasing construction activities have driven the growth of recycle yarn market in these regions. According to International Energy Agency (IEA), global floor area in buildings expected to double to more than 415 billion square meters by 2050 which in turn boosts the demand for carpets, curtains, bedding, and other decorative items. Emerging economic nations like China, India & Malaysia have shown significant growth in recycle yarn market due to the exponential growth of population and increase in disposable income. According to the Indian Brand Equity Foundation (IBEF), the textile and apparel industry in India is valued at around US$ 137 billion in 2016 and is expected to increase to US$ 223 billion by 2021, further fueling the growth of recycle yarn in the Indian market.
Drivers – Recycle Yarn Market
Cost effectiveness & ease in processing
Recycle yarn requires less energy for their production, which further decreases their cost as compared to other naturally occurring yarns. Due to their effective cost, they are in huge demand and are widely used in various applications. Recycling of yarn has lower the dependency of textile industries on the production of natural fibers which in turn boosted the growth of recycle yarn market. Recycled yarns are one tenth less expensive due to their ease in manufacturing process compared to that of production of yarn by natural fiber. Hence. Due to this cost effectiveness and ease in processing, the demand for recycle yarn is growing, which in turn drives the growth of this market during the forecast period.
Sustainability and rising environmental concerns
With the increase in environmental concerns, the world is heading towards sustainability and waste management. Recycling the yarn is the best way to use waste fabrics generated from textile industries and does not have any bad impact on the environment. Ease of recycling without compromising the quality and affecting the environment is driving the growth of recycle yarn market.
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Challenges – Recycle Yarn Market
Volatility in prices of raw material & lack of awareness
Although recycled yarn finds a wide range of applications, but lower productivity of natural fibers increase the prices of raw material that acts as a restraint for the growth of recycle yarn market. Due to the lack of productivity, the cost of natural fibers increases which in turn hampers the growth of recycle yarn market. Additionally, lack of awareness of reusing the waste as people throw away their used clothing also restraint the growth of market.
Decrease in strength & durability
Continuous recycling reduces the strength and durability of yarn. The fabrics to be recycled, runs through a machine that shreds the fabrics into yarn and put lot of strain which in turn reduces the strength of fiber. Moreover, cotton fibers are blended with other fibers to be made into yarn which results further increases the risk of contamination. Thus recycled fiber will never have quality equal to that original fiber.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the recycle yarn market. In 2019, the market of recycle has been consolidated by the top five players accounting for xx% of the share. Major players in the recycle yarn market are Martex Fiber Southern Corporation, Patagonia Inc., Coats Group plc, Ecological Textiles, Haksa Tekstil, APM Industries Ltd., Nilit Ltd., Unifi Manufacturing Inc., HYOSUNG TNC. Corporation, LIBOLON, Radici Partecipazioni SpA, Far Eastern New Century Corporation, among others.
In January 2020, Polartec has announced the latest advancement of ‘Polartec Power Air’ fabric technology. Polartec Power Air is 100% recyclable and also lighter than other fibers.
In October 2019, Simco Spinning & Textile Ltd (Simco) and Thai Acrylic Fiber (TAF) of Aditya Birla Group have launched a unique eco-friendly yarn which is a blend of cotton and Radianza fiber. Use of Radianza fiber has less the global warming potential and also reduces the issue of water consumption and water pollution.
In December 2017, Coats has acquired Patrick Yarn Mill and strengthened their yarn business in North California, U.S. Unique spinning competencies of Patrick Yarn Mill in engineered performance yarns has led Coats Group to expand its existing performance materials portfolio as well as to extend its innovation capability.
North America followed by Europe has shown significant growth in the recycle yarn market in 2019 because of its increasing demand from applications such as automotive and textile chemical industries.
Increasing environmental concerns and fewer use of natural resources to reduce the burden on the environment are the major factors driving the growth of recycle yarn market.
Volatility in prices of raw materials acts as a restraint for the growth of market.
A. Antiscalant Market
B. Polyester Staple Fiber Market
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