According to the latest report by IMARC Group, titled “Textile Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global market reached a value of US$ 5.02 Billion in 2021. Textile recycling involves reprocessing and reusing old clothing, scarps, fibrous waste materials, etc., which are recovered from discarded clothes, carpets, tires, footwear, furniture, etc. Textile recycling offers various environmental and economic benefits, including reducing land and water pollution, curbing usage of chemical dyes, minimizing dependence on virgin fibers, optimum consumption of energy and water, etc. Consequently, it finds wide-ranging applications across several sectors, including apparel, home furnishings, retail, automotive, mining, construction, etc.
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The escalating environmental concerns towards the detrimental impact of heavy industrial discharges from textile mills, waste incineration, depletion of raw materials, etc., are primarily driving the textile recycling market. In addition to this, the growing requirement for synthetic and polyester fabrics is leading to the elevating emission levels of greenhouse gases, which is further catalyzing the market growth. Moreover, the launch of informative initiatives by recycling companies and the introduction of door-to-door pickup programs for old garments are also augmenting the global market. Apart from this, the emerging trend of automation in the textile recycling sector, such as the usage of near-infrared (NIR)-spectroscopy technologies for performing automated sorting applications, is acting as another significant growth-inducing factor. Furthermore, the inflating popularity of eco-clothes, which are made up of recycled textiles, plastics, and organic raw materials, owing to the need for waste reduction and reducing dependency on virgin resources, such as wool and cotton, is anticipated to fuel the textile recycling market in the coming years. Looking forward, IMARC Group expects the market to reach US$ 5.86 Billion by 2027, exhibiting at a CAGR of 2.6% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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 Highlights of the Market Segmentation:
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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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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