Textile Recycling Market Share Projected to Reach USD 10.57 Billion by 2030

The Textile Recycling Market Share was valued at USD 6.89 billion in 2023, and is projected to reach USD 10.57 billion by 2030, growing at a CAGR of 6.3% during the forecast period. The rise is mainly fueled by growing environment-friendly consciousness and the increasing need to minimize textile wastage.



Factors Contributing to Market Growth and Opportunities

Textile waste and its negative effects on the environment are becoming more alarming day by day. The recycling of textiles is part of the solution here, providing significant environmental and economic value. Using old textiles helps the industry avoid both the pollution and the energy used in making new materials. Not only does this process save resources, it also lowers greenhouse gas emissions, which supports international sustainability objectives. Furthermore, the increasing inclination for sustainability has proven an opportunistic medium of expansion for the market as several brands involve recycled materials in their end products for catering with eco-conscious consumer demand.

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Segmentation Analysis

The textile recycling market is segmented based on type, material, and end-use.

By Type: The market encompasses pre-consumer and post-consumer recycling. Pre-consumer recycling involves reclaiming waste generated during the textile manufacturing process, such as fabric scraps and yarns. Post-consumer recycling focuses on reprocessing textiles discarded by consumers, including used clothing and household textiles.

By Material: Key materials processed in textile recycling include cotton, polyester, wool, and nylon. Cotton recycling involves converting used cotton garments into fibers for new textile products. Polyester recycling often employs chemical processes to break down fibers for reuse in manufacturing. Wool and nylon are also reclaimed and processed into new materials, contributing to waste reduction and resource efficiency.

Segmentation based on end-use: Recycled textiles find applications across various industries. In the fashion industry, recycled fibers are used to produce new garments and accessories. The automotive sector utilizes recycled textiles in manufacturing interiors and upholstery. Additionally, the building and construction industry incorporates recycled materials into insulation and other products, highlighting the versatility and broad applicability of recycled textiles.

Country-Level Analysis

The U.S. has one of the highest annual estimates of textile waste, with citizens throwing out an average of ~70 lbs of textiles per person each year. The textile recycling industry currently processes approximately 3.8 billion pounds of post-consumer textile waste each year, approximately 15% of the total textile waste, indicating significant opportunities for additional recycling initiatives (Table 1).

Germany is a role model in terms of environmental protection, and has well-established waste recycling systems. Its dedication to moving towards a circular economy has led to big developments in textile recycling technologies and inevitably helped to put the country on the map as an emerging leader in the European textile recycling market.

China — Home to biggest textile manufacturing industry in the world, China grapples with massive challenges of textile waste. TEXTILE RECYCLING: However, with years of growing environmental regulations coupled with more people wanting to have their clothes sustainably, textile recycling is relatively on the rise. Planned investments into advanced recycling technologies should improve our ability in China to get the most from new textile waste.

Japan accounted for ~52% share in 2023 of the total textile recycling market and expected to reach USD 1.2 billion by 2033 at a growth rate 3.1% over the assessment period. The reason for this growth is the increasing awareness of the public towards the environmental issues and the role of sustainable practices and practices, as well as the increased participation in textile recycling activities.

India: Being one of the major textile producing country, India is also entitled for large amount of textile waste. Its rapidly expanding middle class and rising consumption have led to more waste. Nonetheless, the increasing awareness towards environment and supportive government policies that enhance recycling, are likely to propel the development of textile recycling market in India.

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Competitor Analysis

The textile recycling market is fragmented with the presence of key players striving to increase their market share through innovative technology and strategic partnership. Notable companies include:

Lenzing AG —is one of the leaders in the field, specializing in the production of fibers from recycled feedstock, but achieving very high quality levels, playing an important role in sustainable fibers.

Birla Cellulose is known for sustainable practices with a unique recycling technology, Birla Cellulose will produce bio-based fibers to meet the growing demand for Sustainable Textile.

Renewcell AB: A company that recycles cotton textiles and turns used clothing into virgin quality fibers, enabling a circular economy in the textile and fashion industries.

Worn Again Technologies: Developing recycling solutions that transform textiles and plastic waste into new fibres to bring the loop full circle in the textile industry.

Circular Economy Startups to Know Infinited Fiber Company – Utilizes its patented technology to create high-quality, textile waste-based fibers from cellulose-rich waste streams as a more sustainable alternative to virgin materials.

For example, textile recyclers are joining forces with fashion companies, enabling them to source recycled materials. Partnerships to build closed-loop systems are on the rise, demonstrating a joint ambition to upscale sustainability in textiles.

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Conclusion

Rising environmental consciousness and the need to recycle textile are currently contributing to a rapid growth trend in the global textile recycling market. Increased recycling technologies, supported by government policies and rising consumption of sustainable products will spur the market growth. With innovation and partnership forming the cornerstone of key players action footing, the global market for textile recycling is armed to contribute towards reducing the negative impacts of its existence while addressing the ever-growing demand.

Explore More: Visit our website for Additional reports:

Cotton Textile Market https://www.maximizemarketresearch.com/market-report/cotton-textile-market/221627/ 

Textile Felt Market https://www.maximizemarketresearch.com/market-report/global-textile-felt-market/111170/ 

Home Textile Market https://www.maximizemarketresearch.com/market-report/home-textile-market/201409/ 

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