The global textile recycling market size was valued at USD 5.76 billion in 2023. The market is projected to grow from USD 6.08 billion in 2024 to USD 8.49 billion by 2032 at a CAGR of 4.3% during the forecast period.

Textile recycling is the process that deploys discarded or used apparel, clothing, and fibrous material from eco-friendly and reusable products. The growing consumption of recycled textile products in the end-use industry, coupled with the increasing awareness of sustainable production, is augmenting market expansion.

Fortune Business Insights™ provides this information in its research report, titled “Textile Recycling Market, 2025-2032”.

Tariff Impact Analysis for Textile Recycling Market:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/textile-recycling-market-109273

Segmentation:

Usage of a Huge Amount of Polyester by a Large Population to Spur thePolyester & Polyester Fiber Segment Growth

In terms of material type, the market is divided into wool, polyester & polyester fiber, nylon & nylon fibers, cotton, and others. The polyester & polyester fiber segment accounted for the largest textile recycling market share in 2023. The consumption of a huge amount of polyester in the form of disposable bottles, tires, and other home-furnishing products by a large population is fostering the polyester & polyester fiber segment expansion.

Flourishing Machinery & Equipment Sector to Drive the Mechanical Segment Expansion

By process, the market is bifurcated into chemical and mechanical. The mechanical segment registered the largest share in 2023. The expansion of the machinery & equipment sector is boosting the mechanical segment growth.

Apparel Waste Segment Dominated Due to the Large Waste Generation Amount

With respect to end-use industry, the market is divided into home furnishing waste, apparel waste, and others. The apparel waste segment captured the largest share in 2023. The large amount of waste generated by the rising population globally is propelling the growth of the apparel waste segment.

From the regional perspective, the market is classified into Asia Pacific, Latin America, the Middle East & Africa, Europe, and North America.

List of Key Players Mentioned in the Report:

LENZING AG (Austria)

Birla Cellulose (India)

Brandeur (India)

The WoolMark Company (Australia)

iinouiio Ltd (England)

ECOTEX COLLECT (Bulgaria)

The Boer Group (Netherlands)

UNIFI, Inc., (U.S.)

Hyosung Group (South Korea)

Martex Fiber (U.S.)

Report Coverage

The report offers a detailed analysis of the key driving and restraining factors affecting the market growth. Additional aspects of the report include the major industry developments, the top trends, and the impact of the COVID-19 pandemic on the market growth. The report further encompasses a detailed overview of the strategic initiatives implemented by leading companies to keep ahead of their competition.

Drivers and Restraints:

Increasing Recycled Fiber Blends Deployment in End-use Applications to Escalate Market Expansion

One of the major factors propelling the textile recycling market growth is a surge in the incorporation of recycled fiber blends in end-use applications. Due to their cost-saving and eco-friendly attributes, these blends can be deployed in the manufacturing of casual articles, such as sleepwear, t-shirts, and sweatshirts.

However, the incorporation of hazardous chemicals in the recycling process may hinder market growth.

Regional Insights:

Asia Pacific Led Due to Growing Number of Textile Recycling Projects

Asia Pacific stood at USD 2.59 billion in 2023, accounting for the largest share. A significant amount of textile waste is generated by countries, including China and India, which has led to a rise in the number of textile recycling projects in the region.

Europe’s growth can be attributed to the rising number of campaigns for recycling and the demand for sustainable products from the textile industry, which has resulted in demand for recycled textiles.

Competitive Landscape:

Leading Companies Deploy Product Innovation Strategies to Enhance Their Position

Birla Cellulose, iinouiio Ltd, The WoolMark Company, and LENZING AG are the companies with a huge presence globally. Textile recycling market players are adopting various strategies, such as joint ventures, mergers, acquisitions, and partnership strategies, to outshine the competition. Several players are also focusing on product innovations to boost their position.

Key Industry Development:

October 2023 – Birla Cellulose announced the release of the eco-friendly circular yarn blend. The product is meant for newly manufactured textile products, including pants, t-shirts, and other clothing products.

Inquire Before Buying Report

https://www.fortunebusinessinsights.com/enquiry/queries/textile-recycling-market-109273

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