Global Textile Recycling Market size was valued at USD 4.9 Billion in 2023 and is expected to reach USD 6.8 Billion by 2032, at a CAGR of 3.8% during the forecast period 2023 – 2032.

Textile Recycling Market – Overview

Textile recycling involves reusing or repurposing textile materials to prevent them from ending up in landfills, contributing to waste reduction and environmental conservation. Textiles encompass a wide range of materials, including clothing, bedding, towels, curtains, and other fabric-based items.

The global textile recycling market is driven by increasing awareness and concern for environmental sustainability. The textile industry generates significant waste, and consumers are becoming more conscious of the environmental impact of production and disposal.

Initiatives and regulations favoring textile recycling, driven by the realization that textiles contribute to about 8% of all municipal solid waste in the United States, are propelling the market forward.

Advances in recycling technologies, including mechanical and chemical methods, play a crucial role in market growth. Mechanical recycling techniques, such as shredding and carding, extract fibers from used textiles without significant quality loss.

Chemical recycling methods are evolving, regenerating textile fibers with characteristics comparable to virgin materials. The continuous evolution of these technologies enhances the feasibility and efficiency of textile recycling, attracting investments.

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Inadequate collection infrastructure poses a significant challenge to the textile recycling market. Despite growing demand, the lack of proper collection systems results in a substantial portion of textiles ending up in landfills.

Only about 1% of textiles are currently recycled into new garments globally, according to the Ellen MacArthur Foundation, highlighting the need for convenient and widespread collection mechanisms.

The European Union’s Circular Economy Action Plan, targeting recycling rates for textiles, aligns with the textile recycling industry, providing opportunities for businesses to participate in government-supported sustainability initiatives.

The global textile recycling market is segmented by material, source, and process. In terms of material, cotton holds the highest market share due to its dominance in the textile industry, driven by consumer awareness and demand for sustainable fashion.

Custom Market Insights has comprehensively analyzed Textile Recycling market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Textile Recycling industry.

The competitive landscape includes key innovators, after market service providers, market giants as well and niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well and value addition prospects. In addition, Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, emerging business models.

List of the prominent players in the Textile Recycling Market:

• Lenzing Group
• Birla Cellulose
• BLS Ecotech
• The Woolmark Company
• iinouiio Litd.
• Ecotex Group
• The Boer Group
• Unifi Inc.
• Textile Recycling International
• Hyosung Group
• Martex Fiber
• RenewCell
• Pistoni S.r.l
• RE TEXTIL Deutschland GmbH
• Worn again technologies
• Others

Table of Contents: https://www.custommarketinsights.com/report/textile-recycling-market/#table-of-contents

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