Recycled Textiles Market Trends

Reduced CO2 emissions, decreased water and energy consumption, and increasing awareness among consumers and manufacturers are driving market growth.

WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- The global recycled textiles market, valued at $5.6 billion in 2019, is projected to reach $7.6 billion by 2027, with a compound annual growth rate (CAGR) of 3.6% from 2020 to 2027, according to a report by Allied Market Research. The report offers insights into top investment opportunities, winning strategies, drivers, opportunities, market size, competitive landscape, and evolving trends.

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Factors such as reduced CO2 emissions, decreased water and energy consumption, and increasing awareness among consumers and manufacturers are driving market growth. However, challenges such as high processing costs and lower quality of recycled textiles hinder growth to some extent. Yet, technological advancements in recycling processes are expected to create lucrative opportunities in the industry.

The COVID-19 pandemic initially disrupted the global recycled textiles market due to trade bans and lockdowns. However, relaxations on existing regulations by government bodies worldwide are expected to facilitate market recovery.

The report segments the market by type, end-user industry, and region. Recycled polyester accounted for nearly half of total market revenue in 2019 and is projected to maintain dominance, while recycled nylon is expected to grow at the fastest CAGR of 4.0% during the forecast period.

In terms of end-user industry, the retail segment held the largest market share in 2019 and is anticipated to continue leading, while the automotive segment is expected to witness the fastest CAGR of 5.7% from 2020 to 2027.

Geographically, Asia-Pacific dominated the market in 2019, contributing over one-third of global revenue, while North America is forecasted to exhibit the fastest CAGR of 4.1% from 2020 to 2027. The report also covers the markets in North America and Europe.

Key players in the global recycled textiles market include Chindi, Kishco Group, Leigh Fibers Inc., Anandi Enterprises, Khaloom, Usha Yarns Ltd., Hyosung TNC Co. Ltd., Martex Fiber, Otto Garne, and Renewcell AB. These players have adopted various strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their position in the market.

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