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 global market to exhibit moderate growth during 2021-2026.
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 the process of reusing and reprocessing old clothes, clothing scraps and other fibrous materials. Discarded pieces of clothing, including used dresses, carpets, sheets, curtains, towels and covers, are sorted depending upon their condition and are then reprocessed to form new and usable textile products. This method of recycling is widely gaining prominence across the globe, owing to the economic and environmental benefits associated with it. Apart from this, the recycling process minimizes land and water pollution, reduces the use of virgin fibers and lessens the demand for chemical dyes. Consequently, recycled textiles find vast applications in the apparel, retail, construction, automotive and home furnishing sectors.
Global Textile Recycling Market Trends:
Growing environmental consciousness is one of the key factors driving the market growth. There is an increasing awareness regarding the adverse effects of heavy industrial discharge from textile mills, which leads to an increased strain on landfills. This is also contributing to the rapid depletion of raw materials, which have motivated numerous individuals to adopt recycled textiles as one of the many effective measures toward sustainable development. Moreover, the emerging trend of donated clothes, which are then graded and transported across the world to be recycled, has encouraged several traders to offer door-to-door pickup programs. Furthermore, numerous key players in the apparel sector are taking initiatives to contribute to a sustainable cycle of manufacturing clothes. For instance, Patagonia, Inc., a California-based company and Hennes & Mauritz AB, a Swedish multinational clothing retail company, are offering garment recycling services across numerous stores. Some of the other factors contributing to the market growth include constant technological advancements and rising adoption of automation in the textile sector.
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:
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:
Breakup by Textile Waste:
Breakup by Distribution Channel:
Breakup by End Use:
Breakup by Region:
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Key highlights of the report:
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