Textile Recycling Market - Forecast(2024 - 2030)

Textile Recycling Market Overview:

Textile Recycling Market size is estimated to reach $6.2 billion by 2030, growing at a CAGR of 4.3% during the forecast period 2023-2030. Rising environmental concerns regarding the negative impact of massive industrial releases from textile mills, incineration of waste and depletion of raw materials (e.g. silk and wool) are propelling the Textile Recycling Market growth.

Additionally, the increasing production of polyester and synthetic fabrics is leading to the rising levels of greenhouse gas emission. According to a report published by International Labour Organization, the textile and garment sector accounts for 1.7 billion tonnes in carbon emissions per year. In order to combat that issue, more and more companies are coming forward with textile recycling initiatives. These factors positively influence the Textile Recycling industry outlook during the forecast period.

Market Snapshot:
Textile Recycling Market - Report Coverage:

The “Textile Recycling Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Textile Recycling Market.

COVID-19 / Ukraine Crisis - Impact Analysis: 

●        The textile industry suffered significantly due to the COVID-19 pandemic. Due to the lack of infrastructure and labor force, a complete disruption in the supply chain and several other issues affected the functioning of the textile industry negatively. This shook the stability of the textile and apparel sector.

●        The Russia-Ukraine war has caused several economic and other restrictions, which has resulted in a decline in the sale of textiles and clothing to Russia and a few other countries in Eastern Europe. Lack of sales has led to a lack of textile waste generation, causing a negative impact on the Textile Recycling Market.

Key Takeaways:

●        Fastest Growth of Europe Region

Geographically, in the global Textile Recycling market share, Europe is analyzed to grow with the highest CAGR of 5.1% during the forecast period 2023-2030. Some of the largest markets for recycled apparel are Italy, Germany, France, Poland, Belgium and the Czech Republic. Italy is the most widely-known hub for textile recycling and more than a hundred companies have joined the Italian Textile and Recycling Association (Prato, Italy). Here, traditionally old rugs and clothes are collected from different parts of the world and turned into yarn. Such initiatives are likely to boost the growth of Textile Recycling Market in the region during the forecast period.

●        Post-consumer Textile Segment to Register the Fastest Growth

In the Textile Recycling Market analysis, the post-consumer segment is estimated to grow with the highest CAGR of 4.8% during the forecast period. The average lifespan of a new garment has fallen significantly in the last couple of decades, which has led to more waste production from the textile industry. With the increasing amount of post-consumer textile waste, there is a growing need to recycle and reuse those wastes for a more sustainable world.

●        Cotton Recycling Segment is Leading the Market

According to the Textile Recycling Market forecast, the cotton recycling segment held the largest market share of 54.1% in 2022. In 2021-2022, the global cotton production was estimated at 25.89 million tonnes, according to a report by the Indian Ministry of Textiles. The high demand and consumption of cotton in clothing and other textiles lead to a significant amount of textile waste. Due to the large amount of cotton waste (both pre-consumer and post-consumer), companies involved in textile recycling are focusing on cotton recycling more.

●        Rising Awareness Regarding Sustainability:

Textile brands are now more aware of sustainability and are making conscious choices to use responsibly sourced materials. This includes more use of recycled materials. While the textile industry is responsible for contributing heavily to environment pollution and the rising levels of greenhouse gasses, textile recycling is set to reduce the carbon footprint generated from the textile industry itself.

●        Growing Popularity of Fast Fashion may Hinder the Market Growth

Fast fashion has become a major trend in the textile and apparel sector right now, as it offers mass production of fashionable clothes at a low price. However, it negatively impacts the environment and is often criticized for its unethical practices during the production phase. With the dropping price of clothing, fast fashion is becoming a frequent choice for customers, which may hinder the growth of the Textile Recycling Market during the forecast period.

Textile Recycling Market Share (%) By Region, 2022

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Textile Recycling Market. The top 10 companies in this industry are listed below:

1. Lenzing Ag (Tencel, EcoVero)
2. Anandhi Texstyles Private Limited (RECCA, Ecelate)
3. Hyosung TNC Corporation (creora®, regen®)
4. Boer Group (Frankenhuis, MOOT)
5. Birla Cellulose (Birla Excel, Livae
6. Patagonia, Inc. (Responsilibili-Tee, Better Sweater)
7. Unifi Inc. (Repreve, A.M.Y.®)
8. Gebr. Otto Baumwollfeinzwirnerei GmbH + Co. Kg (recot²®, Piumafil)
9. Leigh Fibers, Inc. (SafeLeigh, QuietLeigh)
10. Textile Recycling International (Wilcox, CTR)

Scope of Report: